Big City Rentals Often Come with Hidden Costs

It’s no secret that an apartment or condo in New York, San Francisco or Chicago isn’t cheap. What you may not know, however, is that the high cost of rent is just a piece of one hell of an expensive pie. Pricey add-ons such as renter’s insurance and security deposits can be crippling and often leave tenants in a bind.

To help prevent you from being taken to the cleaners, we’ve shared a handful of the hidden costs of renting a luxury apartment in the big city, courtesy of Forbes Magazine, below. Dont’ worry – we’ve got your back.

1. Killer energy bills: Great light and high ceilings can make it difficult to maintain a consistent temperature. Additionally, older, poorly insulated windows can add to energy costs. Other things to look out for that can impact your energy bill: Dirty air filters and old refrigerators, which can use up to 50 percent more energy than new units.
2. The super tip: Tipping the building staff is customary so be sure to tip the superintendent as well as doormen, elevator operators, and parking attendants. The size of the tip depends on several factors including quality of service, seniority, the length of time you’ve lived in the building and your relationship with the individual. Always pay in cash and even if you can afford to give a lot remember – you get what you pay for.
3. Pet fees: Owning a pet in the city can be expensive – think grooming, walking, kennels – and that’s before paying an additional security deposit and extra fees charged by rentals.
4. Pricey amenities: Amenities such as an on-site gym and meeting spaces at luxury rentals often come with a fee. Additionally, you may also be charged for the swimming pool and other facilities.
5. Renter’s insurance: Depending on the estimated value of the insured belongings – whether they be your personal property or the landlord’s furnishings – a policy can run a tenant anywhere from $200 to $2,000 per year.

Find a Luxury Apartment Rental

Looking for rentals in your area or planning to relocate to another city in the near future? Rent It Today can help! The most comprehensive rental resource online, Rent It Today provides listings of available apartments, condos, houses, and townhomes for rent across the country! To view a list of available rental units, visit www.rentittoday.com today!