10 Hidden Costs of Luxury Apartments

January 9, 2018

Almosteveryone wants to live in a place where they can easily access luxurious amenities without leaving home. Luxury apartments are built with this in mind.

However, apart from broker fees, there are many hidden costs you need to be aware of before you move in. Here are some of them:

1. Energy bills – You need lighting and ideal temperatures in your house. The electricity bill is in your docket. Ensure that your apartment is fitted with well-insulated windows and clean air filters, which should be replaced once every month. Old fridges are ferocious air suckers. It might be prudent to replace them.

2. Gardening – If you landed on a property that hasagarden because you are just that lucky, you will want an awesome soul cleansing view. That comes with added costs. Even if you do not particularly care for breathtaking gardens, you will still have to pay for the maintenance. Go for plants that do well well in the weather conditionsof the city you live in.

3. Tips – Your building has a team of workers who provide various services to you in the course of your stay. Your tip hinges on several factors:
~quality of services rendered.
~size of the building
~lenghth of stay
~preffered relationship with staff
What you pay for is what you get.

4. Pet fees – If you are bringing Bruno along, you may need to dish out extra money for vet visits, groomers’ fees and rent for a kennel. This also calls for an extra month’s security deposit.

5. Storage – If you have extra furniture and limited space in your new home, you will need storage.Paying for storage is an expensive affair. Make inquiries in advance and engage the building management directly.

6. Move in fees – You must be prepared to pay a move-in fee if the lease so dictates. Be sure to remember this fee when you renew your lease. Your landlord may decide to make some side cash off you.

7. Renovation costs – You are not allowed to make any improvements without your landlord’s permission. If the place is not up to your exacting standards, negotiate with the landlord. He maydismiss your concerns as aesthetics and refuse to meet the costs.

8. Insurance – Insurance for the apartment naturally falls on the landlord, but if the apartment is furnished, you may be required to meet the dictates of the landlord in terms of the value of the furnishings. His policy does not cover your personal belongings.

9. Amenities – They are the whole point of forking up that much money in rent, right? You do not have to use them, but you have to pay for them. You might as well use them then.

10. Deposit: the landlord is expected to returnyour deposit withinthe agreed upon time once your lease expires. The deposit is expected to cover unpaid rent and repairs that exceed the usual. This does not always go smoothly. You as the tenant should have a record of damage and wear and tear from move-in to move-out. Arrange for fix-ups and cleanups before moving out.

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