Price is usually the first thing would-be renters notice when shopping around for new rental units. Especially amidst a hot renter’s market, finding the fairest price can seem like a win before you even move into the property. A price that’ll evoke jealousy isn’t where the search should end, though – especially when it’s hard to determine why one condo is cheaper than another that looks similar. Delve a little deeper, and you may find yourself scouring the wild world of private condo rentals – a trap you want to stay away from. Though the discounted rates may be tempting, renting a dedicated rental unit over a private condo is always the smart move. Below are a few reasons why.
When renting a dedicated rental unit, tenants are protected by a lease. This lease is given to every tenant in the rental building, guaranteeing you that your agreement is protected by the law. You don’t have to worry about any shady landlords throwing you out on the street at your convenience. If your lease guarantees that you can live in an area for a specified amount of time, you get to stay there as long as you don’t break the lease.
Private condos have no guarantees
What would you do if you attempted to walk into your home and noticed the key cannot unlock the unit? It could be a reality if you take the risk of renting a private condo. Because the units are private condos, there are some situations where landlords can kick you out of your unit for their own personal use. One such method of throwing out tenants is by using the excuse of needing to renovate (commonly referred to as ‘renovictions’); they throw the tenants out of the unit saying that they plan to live there themselves, renovate the unit, and increase the rent for the next unsuspecting tenants; rinse, repeat, the landlord makes more money at the expense of former tenants.
Or perhaps a family member is moving into the area and they need a place to sleep – if they agree to pay the same rent per month, why would the landlord have an incentive to keep the current tenant? By not renting from a reputable company and having a lease that’s protected by law, tenants are opening themselves up for trouble by renting private condos from shady landlords that have no interest in ensuring they have a place to call home.
Zero incentive to answer maintenance requests with a private condo
When renting from a dedicated rental unit, you’re going to find a property manager on-site. Because your unit is protected by a lease, the law states they must provide maintenance repairs on your unit. When renting from a private condo that doesn’t have on-site property managers, requests could take longer to be resolved. If your hot water heater stops working, you may be waiting for a repair.
Know your neighbours when renting a dedicated unit
The great thing about renting a unit from a dedicated building is that you will get to know your neighbours as the years go by. Your neighbours also want a place they can call home, so you get to know everyone and have an understanding as to what they’re like, where they come from, and so on. When you rent from a private condo, you never really get to know your neighbours – some are there for only a night or weekend thanks to some units being subleased as AirBNB rooms, some neighbours may own their unit, others are there for a short time until they are, ‘renovicted,’ and so on. Such an environment creates a mix of people that are there for different reasons – not to create a home and a life for themselves and/or their families. This also means there could be zero accountability or background checks conducted when such landlords lease to anyone that wants a room. It could create an unpredictable, unsafe living environment that you don’t deserve.
Why put fate to chance? Contact Dunpar Homes today and allow us to find the best rental unit that’s within the budget that you can trust. We’ll put you in a safe and affordable unit that you will be proud to call home – and that’s a guarantee that we keep daily!