Difference between renting a Beacon Hill condo and apartment complex

UTILITIES

Tenant responsible for paying electricity. Owner pays gas, water, and trash in their  condo dues.

PETS

No pet rent. Owner asks for a pet deposit which is refundable if no pet damage.

PARKING

Included (if parking space owned with unit, most condos come with at least 1 space)

EXTRA STORAGE

Included (if storage cage/room owned with the unit)

AVAILABILITY

Within 30 days or less.

RENT

May be negotiable if signing a 2 year or longer lease and/or able to occupy the condo immediately minimizing vacancy for the owner. Based on good credit.

SECURITY DEPOSIT

Same as 1 month’s rent

LEASE RENEWAL

Varies. But If a good tenant in place, most times the owner will choose to keep the rental rate the same.

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APARTMENT BUILDING
(All units in the building are rentals)

UTILITIES

Tenant responsible for utilities.

PETS

Most buildings charge a monthly pet rent in addition to the pet security deposit.

PARKING

May cost additional.

EXTRA STORAGE

May cost additional.

AVAILABILITY

More units so sometimes has flexibility if you’re the type who likes to sign a lease 2 months in advance.

RENT

Leasing office may offer a number of weeks free rent based on their occupancy rate and the length of lease you’re signing.

SECURITY DEPOSIT

Leasing office charges a minimal fee to entice you to move in.

LEASE RENEWAL

Rental rate almost always increased at each lease renewal.

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CONCLUSION:

If you’re renting while saving money to purchase or trying out the Boston condo lifestyle before making a more permanent decision, and you have the funds to cover a higher security deposit, choosing to lease in a residential building is most of the time the most cost effective option.

We will be happy to help you find a place until you’re ready to shop for your future home. And discuss renting vs. buying to help you determine what’s right for you, right now.

FAQ: Moving to Boston from another state or city

FAQ Boston Condo/Apartment Rental Process

What do I need to bring with me to rent out a Boston apartment/condo

What is a Boston condo/apartment credit check?

What is a Boston security deposit?

Why does it cost more to move into a high rise condo or apartment complex?

What is apartment rental insurance?

How do I break my Boston condo rental lease?

For Boston condo landlords

Boston condos to rent misc questions and thoughts

Updated: November 2018

Question & Answers Regarding Beacon Hill Condo For Sale

Beacon Hill Condos For Sale

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