I slept in this morning until 11. I needed the rest. Once up I made a straight dash to the nearest Starbucks. Fall is my favorite season and happiness is only one cup of pumpkin spiced latte away. There are tons of rentals available in Champaign so I need to sample a good variety to zone in on what I'm really interested in and get a good feel for the fair market price. Unfortunately I only have one appointment setup for the afternoon, the rest I either need to find rental offices that open on Sundays or to look from the outside. In a college town, the right neighborhood is going to play a major factor in my decision making process.
To get a good idea on what's out there I stopped in one of the biggest property management office in town. The management company owns lots of properties in different areas of the town from standard apartments of all sizes to condos and townhouses. Although the properties are not always ideal especially in large rental complexes a big company like this typically offers competitive rates that can be used as a baseline for comparisons. The property manager who greeted me was very friendly and professional. When I told him my "current" address he stopped writing and looked up slowly. Just as I was going to spell out T-H-I-E-F thinking he didn't catch the name of the town, he said, "oh, I used to live in Grand Forks." Interesting. Minutes later another manager showed me a townhouse, a 2-bedroom apartment adjacent to the office and another townhouse and condo in two different locations. The townhouses were the same price as the two I saw yesterday but the qualities were not as good. The apartments offered very reasonable rent especially with first month rent free and complementary wifi. The neighborhood is not bad but with so many tenants on top of each other it's hard to tell what to expect. Privacy and quietness are luxuries when it comes to rental properties.
My next appointment is not until 4pm so I called to see if I can view the 2-bedroom earlier than scheduled. The owner was very accommodating and met up with me in 10 minutes. The unit is half of a one level house but the condition was not desirable. I then decided to drive to a rental condo near the ones I saw last night. Once again, very packed neighborhood with lots of townhouses and not enough parking. The price is a bit lower but I know you get what you pay for. I couldn't see the inside but there was an open house just across the street. Why not pop in to see how much these properties go for? The real estate agent, Gil, seemed like a straight forward guy and was extremely helpful. With no other visitors around so we chatted for quite a bit about the real estate market and the differences between rent and buy. The one-level condo is comparable to the one I say last night with full size two-car garage but a bit smaller. I ask his opinion on a fair market price if the unit was on the rental market. Gil's answer was pretty much what I had expected. Now I feel like I have a pretty good idea of what the rental prices are like around town. I told him about the rental I saw last night and Gil confirmed that it was indeed a good deal. I know I can probably find cheaper rentals but I will have a very difficult time to find another one in such a nice neighborhood. The condo will be the only rental on that street. Most of the other handful of condos on the same side of the road are owner occupied by retirees while the properties across the street are well cared for single family homes. Everything is well kept and the condo association fee will cover all external maintenance and snow removal. I'll pretty much have my own condo without the hassle and risk of purchasing a place.
Afterwards I stopped by one more open house for an one-bedroom one level condo and that was enough for me to make a decision to go with the second condo I saw last night. I called Sally right away to put in the application. The rent is much higher than what I had planned for especially since now I have to pay all the utilities on my own. Having moved many times in my life and seen countless rental properties and real estates I know this is the best one I've seen. Now I have my fingers crossed that everything will go through smoothly so I can move into my new home next week!
To get a good idea on what's out there I stopped in one of the biggest property management office in town. The management company owns lots of properties in different areas of the town from standard apartments of all sizes to condos and townhouses. Although the properties are not always ideal especially in large rental complexes a big company like this typically offers competitive rates that can be used as a baseline for comparisons. The property manager who greeted me was very friendly and professional. When I told him my "current" address he stopped writing and looked up slowly. Just as I was going to spell out T-H-I-E-F thinking he didn't catch the name of the town, he said, "oh, I used to live in Grand Forks." Interesting. Minutes later another manager showed me a townhouse, a 2-bedroom apartment adjacent to the office and another townhouse and condo in two different locations. The townhouses were the same price as the two I saw yesterday but the qualities were not as good. The apartments offered very reasonable rent especially with first month rent free and complementary wifi. The neighborhood is not bad but with so many tenants on top of each other it's hard to tell what to expect. Privacy and quietness are luxuries when it comes to rental properties.
My next appointment is not until 4pm so I called to see if I can view the 2-bedroom earlier than scheduled. The owner was very accommodating and met up with me in 10 minutes. The unit is half of a one level house but the condition was not desirable. I then decided to drive to a rental condo near the ones I saw last night. Once again, very packed neighborhood with lots of townhouses and not enough parking. The price is a bit lower but I know you get what you pay for. I couldn't see the inside but there was an open house just across the street. Why not pop in to see how much these properties go for? The real estate agent, Gil, seemed like a straight forward guy and was extremely helpful. With no other visitors around so we chatted for quite a bit about the real estate market and the differences between rent and buy. The one-level condo is comparable to the one I say last night with full size two-car garage but a bit smaller. I ask his opinion on a fair market price if the unit was on the rental market. Gil's answer was pretty much what I had expected. Now I feel like I have a pretty good idea of what the rental prices are like around town. I told him about the rental I saw last night and Gil confirmed that it was indeed a good deal. I know I can probably find cheaper rentals but I will have a very difficult time to find another one in such a nice neighborhood. The condo will be the only rental on that street. Most of the other handful of condos on the same side of the road are owner occupied by retirees while the properties across the street are well cared for single family homes. Everything is well kept and the condo association fee will cover all external maintenance and snow removal. I'll pretty much have my own condo without the hassle and risk of purchasing a place.
Afterwards I stopped by one more open house for an one-bedroom one level condo and that was enough for me to make a decision to go with the second condo I saw last night. I called Sally right away to put in the application. The rent is much higher than what I had planned for especially since now I have to pay all the utilities on my own. Having moved many times in my life and seen countless rental properties and real estates I know this is the best one I've seen. Now I have my fingers crossed that everything will go through smoothly so I can move into my new home next week!
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