A luxury apartment has a lot of amenities, desirable or useful features or “things” that are pleasant or agreeable in a place or building, to make the tenant more comfortable. Luxury apartments feature things like a concierge, porter, security guards, premium countertops, premium floorings, top of the line appliances, on-site parking, valet parking, dry cleaning pickup, concierge, on-site laundry facilities, on-site gym, a spa, restaurant, room service, etc. The list goes on and on. If I you have the choice, I recommend you go luxury every time!
So what makes Luxury Apartments So darn appealing to us all?
If you are on the hunt for some luxurious big-city apartments then you are going to find this useful. A majority of renters like us know to get ready for the two huge extra costs that regularly get added to our rent: broker fees and security deposits (Agh!). But many don’t realize these are just the start.
With the rise of rental apartments solid because of the tight credit market and the unforgotten economic downturn, landlords and renters are put in a situation where they have to push any unwanted extra costs onto tenants.
“Those on the apartment hunt would be wise to factor in these extra costs before making a decision,” says Dylan Pichulik, chief executive of XL Real Property Management. The New York City-based firm manages with over one thousand one hundred apartments in his portfolio. Mr. Pichulik stresses that even the savviest renters miss or even glance over these unseen costs, which can quickly amount to thousands of dollars per year, prior to submitting an offer.
This is such a good point because now when you do choose to lease a luxury apartment you know that you are separating yourself from those who cannot afford it. By leasing or purchasing a luxury apartment you are putting yourself in a league of unique buyers and like-minded thinkers. Even if someone leased or purchased a luxury apartment they will quickly have to sell when they cannot pay giving you the opportunity to purchase a luxury apartment lower than the market value.
Here are five factors that real luxury apartment owners don’t need to worry about when looking to purchase or lease a luxury apartment:
- Large gardening & Utility costs
- Costly amenities
- Move-in & Insurance fees
- Upgrades and improvement fees
- Not-so-secure deposit.
Finding the right luxury apartment is easy now let’s start investing and upgrading our surrounding. Check out that Forbes say about Luxury apartments. Do you agree or not?
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