Renting Luxury Units Becomes Increasingly Popular Alternative To Home Ownership

Philly apartments

The good ol’ American dream has dramatically changed, as Americans are taking initiative and and creating their realities. The American dream used to consist of a home in the suburbs with a white picket fence, a dog, and 2.5 kids. However, that dream is becoming a distant memory.

In the ongoing rent vs. own debate, renting is winning as Charlie Sheen would say (in fact, he rents a luxury apartment in Manhattan). There are plenty of reasons why people are flocking to metropolitan areas, such as Philadelphia, New York, and Chicago and others in order to rent luxury loft units, such as luxury studio apartments.

Landlords and property managers are having no problems renting out these luxury apartment rentals, and it’s easy to see why.

Luxury studio apartments and other luxury units offer flexible leasing options. Though leases are typically one year, many landlords offer 6 month or month-to-month terms in order to provide greater flexibility as a convenience to their tenants. This kind of wiggle room is perfect for individuals who have recently relocated, plan on relocating, started a new career, or those who simply are not ready to commit to the longevity and permanence of a mortgage.

Additionally, luxury rentals are surprisingly affordable. The rent for most units includes utilities such as heat, hot water, sewer, and electric. Renters can expect to pay the same amount for rent every month. When owning a home, interest rates, taxes and other factors can cause a homeowner’s mortgage to fluctuate, making it difficult to plan and budget. Additionally, repairs come directly out of the home owner’s pocket. When renting, maintenance is the responsibility of the landlord or property management company.

These units offer all the comfort and privacy of living in and owning a home, without all the stress and hassle. Even luxury studio apartments offer stylish, spacious interiors, and unparalleled, top-notch amenities, in addition to convenient locations.

It’s easy to see why people are eagerly renting these units. City living can be expensive, but luxury rentals don’t have to be. Perhaps it’s time for you to define your American dream, and rent the luxury apartment you’ve always dreamed of.
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