Consider The Amenities

Consider The Amenities
06-23-08

The amenities on a rental property can often be the deciding factor for many renters. The available amenities may make a less affordable property seem more appealing. Conversely, a property which is more expensive may be considered worthwhile if the amenities offered are valuable enough to the renter to justify the higher price.

When making a decision on a rental property, homeowners should consider their own personal preferences as well as their budgetary constraints. The renter should carefully consider which amenities are really necessary, which amenities are optional but highly desired, and how much the renter is willing and able to pay for these amenities.

What Amenities Do You Really Need?
On-site laundry facilities, if not laundry facilities inside each apartment, are usually considered a necessity for most renters. Even if there are nearby laundromats, the inconvenience of having to travel there and wait for the entire laundry cycle to finish is too much of a hassle. Besides that, public facilities are open to an even wider group of people than apartment facilities would be, increasing the likelihood of machines not being available when convenient for the renter. Since doing laundry is not optional, this is one amenity that many renters are not willing to do without.

What Amenities Do You Really Want?
Although many of the amenities offered by rental properties are certainly not necessities, some renters would not consider renting a property that did not have them. An exercise room is one such example. Without an on-site exercise facility, many renters would have to consider joining a gym for their exercise needs. This would likely increase their monthly expenses significantly in the form of membership dues and, depending on the location, may also make it inconvenient for the renter to visit the gym. Because an on-site exercise room eliminates these problems, some renters consider it worth the added expense.

A pool is another amenity that falls within this category. Although it is not truly a necessity, many renters wouldn't consider renting an apartment that didn't have a pool - especially in areas where the climate is warmer.

Another amenity that is attractive for many renters is some type of meeting room or clubhouse that can be used to entertain guests. This allows the renter the option of hosting larger parties or events than would comfortably fit in their own apartment.

Are You Paying Too Much for Amenities?
While some amenities may be viewed as necessary, some as merely desirable, and still others as superfluous, the most important decision renters will have to make is how much they are willing to pay for these amenities. Comparison shopping may be the best way to determine whether or not certain amenities are financially worthwhile.

Renters who are considering apartments of similar size in the same geographic region should consider the amenities offered as well as the price of the apartment. Apartments of similar size in the same area are normally fairly close in price, but an apartment which offers more advanced amenities might be significantly higher. Renters should list the available amenities at each property and use this information when making cost comparisons. Renters who conclude the additional cost is not warranted have determined that the prices of the amenities are not worthwhile to them and they are likely to choose the more affordable apartment which features fewer amenities.

Mark E. Moebius
Miljonair Homes
Custom home builder St. Louis
3451 St. Albans Rd.
St. Albans, MO 63073
636.300.9000