Renting close to a college campus is obviously smart if you are in college. If you are not a college student, however, having those apartments in one location could still seem like a fantastic place to rent. But is it indeed? Renting close to a college campus requires careful thought in many different aspects. Living near a university has certain benefits and drawbacks; here are some of them, as well as some pertinent questions to ask the landlord ahead of signing a lease.
Pros of Living Near Campus
Apartment rentals near campus have many advantages. Colleges often have job possibilities even if you are not a student, so you might find close proximity to campus employment prospects. You might save money and get to work fast by cutting a long commute.
Renting close to a university also offers a community and neighborhood atmosphere. Usually close-knit communities, college towns are vibrant and full of motion. Renting close to a college campus lets you take advantage of plenty of social events if you’re young and like a social scene. Furthermore, other tenants could be at a similar stage of life, letting you establish friendships with your neighbors and meet fresh people.
There are also many restaurants, pubs, supermarkets, and enterprises, including groceries, not far away. Living next to a college campus is a wise decision if you want a spot with some activity.
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Cons of Living Near Campus
You might be in the wrong place if you are not seeking an exciting area. Renting close to a college campus may not provide a calm location for you to reside. Students housed in apartment buildings could find plenty of distractions.
Remember that some college students aren’t as concerned about maintaining their rental as they could be later in life. This is especially true when looking for a rental in a university town. Consequently, the apartments could show more obvious wear and tear than rents distant from a college campus.
Finally, the flood of people often arriving to and from a college campus could make parking difficult if you rent close enough.
What To Check On A Lease
Once you identify an apartment you want and the landlord has consented to let you live there, he will present you a lease—a legally enforceable contract including crucial information you will need to know. Unfortunately, that material is sometimes hidden under impenetrable legalese. Here are the most crucial lease clauses you should go over:
Rent Amount and Payment Schedule
Finding out your monthly rent payment amount and when it is due is absolutely vital. Clarify any issues regarding further fees or charges included in your rent and ensure the amount matches what you agreed upon with your landlord.
Lease Term
The lease term is the length of your tenancy, which will vary depending on your agreement with the landlord from few months to several years. Knowing this can help you to make plans and prevent any misinterpretation regarding the termination of your lease.
Security Deposit
Usually equal to one month’s rent, most landlords request for a security deposit before move-in. It serves as defense for the landlord should unpaid rent or damage occur. When you want your deposit returned at the end of your lease, be clear about the conditions
Utilities and Services Included
Your contract should also list which utilities and services—including water, electricity, gas, trash removal, cable, internet, etc.—are covered by your rent. This will enable you to budget appropriately and prevent any uncertainty regarding who should pay these expenditures.
Subletting and Roommates
Should you intend to have roommates or sublet during your tenancy, you should let your landlord know ahead of time and document this in the lease. Make sure you specify since some landlords might not accept subletting or have occupancy limits on a unit.