First things first, when renting a new apartment or town home, you have to consider the type of landlord you’ll be dealing with. Sometimes your landlord will be a large corporation, a multiple property owner, and other times your landlord will just own a single unit condo and you’ll be their only tenant. These and various other factors can have an enormous impact on the quality of your tenancy, so you will need to pick the right type for you.
When you rent from a large corporation that owns multiple large properties there are plenty of pros and cons. Generally large corporations will own many properties within their real estate portfolio that will be bought and sold quite frequently. One thing to consider when renting from a corporate landlord is that the company managing the property on the day you move in might change while you’re living there. Fortunately at MJF Rentals, our apartments and townhomes are family owned and have been under the same management for decades.
Having your management team change frequently can have a severely negative impact on your experience while living in your new apartment. When looking for a new apartment or town home, be sure to find out who owns the property and how they manage it. You can learn many of these details by placing a call to the property’s leasing office or by checking the property’s web site. Before making a final decision, be sure to call the company, find out how long they’ve owned the property, and ask how rent pricing has varied on your type of unit over the past five years. This will give you a good idea about the average amount and frequency of any past rent increases.
Be aware that corporations are most interested in a profit and often times do not even reside in the same state as the property itself. A corporate landlord is more likely to raise the rent significantly when your lease is up because if you leave a single vacancy isn’t a huge loss to them. They also do not know you personally and will have little sympathy if the significant rent increase is suddenly far beyond your means. Rest assured at MJF Rentals, our management team is located right here in Valparaiso, Indiana just minutes from your rental. If you’re ever in need of anything, our friendly property managers are just a phone call away.
On the upside, large corporate complexes are often very nice. Many come with ample amenities and are very well-maintained. For the most part, you’ll be left alone to live in your apartment and won’t be bothered. So long as you can afford to always pay your rent on time, you’ll most certainly be a valued tenant.
Landlords who manage multiple properties but have a local office (HEY, THAT’S US!) are generally the best option for most people. Of course this will depend on the specific landlord, but assuming you find one you like you won’t have to deal with a lot of the problems you’ll encounter with a corporation or a single-unit owner (detailed in the next section).
Local landlords with multiple properties are often times the best of both worlds as they are easy to contact, deal with, and they take extremely good care of their rental units as it is important to them that their tenants remain happy and therefore long term renters. It’s a big deal for a landlord like this to lose a tenant, and in most cases they often go the extra mile to make sure you are satisfied and well taken care of in your new apartment or town home.
At MJF Rentals you can rest assured that your comfort and satisfaction with your new home is our top priority. We provide affordable apartments and town homes in Valparaiso, Indiana that include maintenance crews on call 24 hours a day, updated rentals with modern amenities, interiors and exteriors, as well as a friendly family like and easy to contact management staff. Give us a call today to schedule a tour of your new apartment at (219) 477-4555 and we will be happy to show you around. You can also use the “contact us” button in the bottom right hand corner of this page, and one of our property management staff will answer any questions you may have via email as soon as possible.
Landlords managing only a single property, such as a condo or home that they can’t currently sell, have some advantages as well as a few disadvantages. When renting from this type of landlord, you’ll often be expected to keep their place in great shape. They once lived there and they’re going to want to sell the property sooner than later, so it’s very important that it remains in tip top shape. This is especially relevant when they are trying to sell their property. You’ll be able to stay as long as your lease allows, but if you’d like to not have to uproot yourself and live in your new apartment or town home for awhile you may find that you’re asked to leave sooner than you may like. It can help to ask the landlord if they plan to sell in the near future, but they may not be entirely forthcoming with this information as they don’t want to risk you not renting their unit.
On the upside, you can often find a great apartment for less than it’s worth. Your landlord will likely be most concerned with covering his or her mortgage payments rather than turning a large profit, which means a mutually beneficial relationship for the both of you. This type of landlord will generally prefer to be more hands-off as they do not run a business and will leave you to deal with maintenance concerns on your own. This may also mean that communication may be troublesome and that problems can sometimes take much longer to fix.
When it comes to single-unit landlords it is most important that you find one you like. You’ll interact with them more than any other type, as you’ll be their only tenant. If you don’t get along, you can expect problems down the road.
Once you’ve picked a type that works best for you and your particular situation, it’s time to do a little research. Review sites like Yelp are a good place to start when you’re dealing with large-to-medium-sized companies, whether they’re remote or local. In the event you’ve chosen a large property, look for reviews about that specific property. If you’ve chosen a medium-sized local landlord, look for reviews on his or her property management company.
Finally, make an effort to get to know your landlord. Before signing the lease, ask a few questions about them and their philosophy on property management. Find out what’s most important to them so you know before moving in. If you’re planning to rent from a single-unit owner, feel free to get more personal. Ask them why they’re renting, what they do for a living, about their interests, and so on. These topics don’t have to be brought up in an awkward way. If they haven’t moved out all their things, simply comment on something you like and start asking related questions. You’re just two people, so having a normal conversation to get to know each other is completely reasonable.
If you’d like to speak with any of our representatives here at MJF Rentals we are more than happy to answer any questions that you may have. Give our office a call today at (219) 477-4555 to discuss your new apartment or town home rental.
HOBART, INDIANA 46342
PORTAGE, INDIANA 46368
VALPARAISO, INDIANA 46383
CHESTERTON, INDIANA 46304
MERRILLVILLE, INDIANA 46410
MERRILLVILLE, INDIANA 46411
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