Rent a House, Rent a Townhome, Rent a Condo?

I’ve discovered over time that many people who decide to rent a home often have a knee-jerk reaction as to the type of property they will rent. In fact, the most common reaction/decision is to rent an apartment. Often times people don’t realize that you can rent a townhome, condo or even rent a house for about the same money as renting an apartment.

The Minneapolis/St. Paul rental market has changed quite a bit in the past few years. The record number of foreclosures means there are investors out there buying up and fixing these properties and putting PRISTINE properties on the market at extremely affordable prices. There are so many great choices for rental property today — just check out any residential property manager’s web site (like this one) and you’ll find lots of great houses for rent, townhomes for rent and condos for rent.

Given that you’re on this site and reading this blog, chances are you are one of those people who have discovered that you can rent far more than just an apartment. So now, the question is, what kind of property should you rent?

Houses for Rent in Minneapolis / St. Paul

One of the major things to consider when renting a house is that it is probably the most dis-similar to apartment rental than any of the other types of properties because it’s the most like owning your own home. Namely, home maintenance and yard work! When considering a rental house, keep in mind that basic home maintenance and yard upkeep is usually not included in the lease. That means you’ll have many of the same responsibilities as if you owned the home.

People who are considering a rental house should definitely be those who consider themselves responsible enough to maintain a home. Some people LOVE having a yard and being able to mow, and trim and do some basic landscaping. In some cases you can negotiate with the landlord and be able to do some of your own landscaping or even gardening. This gives you a real feeling of home ownership — pride in your home and your yard.

But remember…this kind of home maintenance isn’t option — it’s usually mandatory. If you don’t like yard work and you don’t like changing furnace filters or shutting off the exterior water faucets in the fall…renting a home may not be the best choice for you! You will be expected to keep up with regular maintenance. Period.

Townhouses / Townhomes for Rent in Minneapolis / St. Paul

If you’re not a fan of yard work, but you don’t mind basic indoor home maintenance, you may want to consider a rental townhome instead of a house. Townhomes are usually part of an association…a group comprised of the owners in the townhome development. The townhome association charges a monthly fee for yard care and exterior maintenance of the buildings. When you rent a townhome, this fee is almost always built in to your lease so you don’t need to worry about paying the association dues directly.

The compromise for not having a yard to take care of is that nearly all townhome developments are built as multi-unit homes. That means you’ll have one (or more) common walls that you share with a neighbor. Most townhomes are built well enough that normal everyday sound won’t travel from one unit to the next, but you should keep in mind that if you like total privacy a house is probably your best choice. So you’ll need to weigh your desire for privacy against your desire (or lack thereof) to have a yard and the associated yard work.

Condos for Rent in Minneapolis / St. Paul

Condominiums are also a great choice for people who dislike yard work. Just like townhomes, however, condos have shared walls. In fact, condos usually offer the least privacy because in multi-floor buildings you’ll also have shared floors and ceilings. In addition, condos usually do not offer private entrances so you’ll be walking down the hallway and greeting your neighbors every time to come home or leave.

But condos can also offer a higher level of security than townhomes or houses. Condos usually have secure entries to the building and often have video cameras or other security systems. You’ll generally have an extra layer of security than simply your front door — making it more difficult for criminals to see in to your unit or to gain access to it.

Many condos are single-level, apartment style homes. This can be a major benefit to disabled, elderly and/or people who simply don’t like stairs. It’s often difficult to find single level houses and many townhomes that are single level often have premium prices on them because of the growing demand and limited supply of these types of homes.

So which kind of rental property is right for you? It all depends on what your looking for. Security? Maintenance Free Living? Privacy? These are just some of the factors you should be considering.

If you have questions and/or would like to discuss your housing needs please contact us. You can leave a comment below or fill out our tenant profile page to send your basic requirements to us.