Condo Rental Checklist: Check Living Space, Amenities, Fees, Demographics & Rules of the Project

Modern contemporary condominiums taken on a hill surrounded by lush green gardens

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Condo Rental Checklist

 

 

1–What do you need in the condo living space?

  • Studio
  • One-bedroom apartment
  • Two-bedroom apartment
  • Three bedroom apartment
  • # of bathrooms
  • Deck or balcony
  • Furnished
  • Unfurnished
  • # of parking spaces: covered? or uncovered?
  • Pool
  • On-site workout room/gym

2—What do you need in area amenities

  • Near schools
  • Near my work
  • Near public transportation
  • Near highways
  • Near private buses
  • Near retail/shopping
  • Lounge in complex
  • Demographics of complex (young singles, retirees who vacation in Florida in winter, etc.)

3—Find the best complex for me

  • Ask friends and associates at work
  • Sign up with reputable real estate agents specializing in condo rentals
  • AVOID online scams
  • If you have children, is the complex child friendly or child unfriendly

 

4—Develop a list of condo complexes you would consider

  • Visit complexes at different times of day and week
  • Check out parking situation after working hours
  • Check out complex’s amenities—when in heavy use
  • Walk around and casually ask residents how they like living there; what’s the biggest complaint
  • Is complex secure? Are there local problems with break-ins, muggings, etc.

5—Understand the rules you need to know

  • You are subject to same rules as condo owners at complex so read association covenants and restrictions
  • How many cars can you part on the complex, what if you have an overnight guest
  • Do the rules allow pets
  • If so, what types of pets?
  • Can you renew your lease; if so, how many renewals can you have?
  • If you are self-employed, can you do business out of the condo?
  • Can you have a barbecue out on your deck?

 

6—Fees That You Are Expected to Pay

  • What type of security deposit do they want
  • Besides rent, what other fees are you subject to—cable tv, pool, recreation, condo fees, heating, electric
  • Is the rental amount what you expect to pay
  • Is there a real estate broker’s fee
  • Is the security or other deposits what you expect to pay
  • Are there late fees
  • Common area fees
  • Are there move-in/move-out fees
  • Are there fees to reserve the elevator
  • Are there application fees
  • Background check fees
  • Parking pass

 

7—Condo maintenance and repairs

  • Who do you call when something breaks down
  • How are serviceman charges paid for

 

8—What insurance are you required to have on your rental

  • Liability insurance
  • Homeowners insurance
  • Condo insurance
  • Business Insurance

 

9—Who is responsible for areas outside of the condo

  • Are homeowners expected to help keep the condo building neat?

10—Is there someone to accept packages and mail during the day when you are at work

 

 

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