RentalsWhat every renter should know about the Fountains CondominiumsAs the primary mover and shaker at Condo Alexandria, I field calls every single day from renters who are interested in condominiums. The names and locations change but there are a few fundamental misconceptions that are so common, I feel the need to write this note for the general benefit of the world at large. It looks like an apartment, but it's not an apartment.First of all, a renter needs to understand the difference between an apartment and a condominium. An apartment, or any multi-family dwelling, is owned by a single entity. Most usually the owner is a company, but more rarely an individual owns the property. Employees of the apartment complex, or the owner himself, manages the property. A condominium is different because there are many owners, meaning each unit is individually titled. The owners of a given condominium complex make up something called a condominium association. The association jointly owns the common areas such as the lobby and the lawns. The association oversees the management of the property. There is no rental office: you need an agent.When you rent at an apartment complex, you'll see a big sign that says "RENTAL OFFICE". That office is staffed by folks whose job it is to explain to you why that particular building is the greatest place to live in the world. They are generally helpful and pleasant and they will gladly show you a model apartment and give you an idea of what is "coming available". A condominium complex is completely different. The condo office is filled with employees of the condominium association. The employees at the condo office are concerned with the maintenance and security of the building. They could care less where you rent or where you live. In most condominiums in Northern Virginia, staff won't allow you to enter the property and they won't show you any rentals here or anywhere else. The staff has no idea what is available or what is "coming available". A condominium complex looks like an apartment building on outside, but it's more like a neighborhood full of townhouses or houses. In a neighborhood everyone lives in the same place with similar housing but each person owns their own house. If you want to rent in that neighborhood, you CAN'T do so by banging on people's doors and asking them to see their house. Nobody in the neighborhood knows "what's coming available". If you want to tour a house in a neighborhood, you need a real estate agent. An agent costs the renter nothing, but can be of great service to you. [click for more about this] It's the same in a condo. If you don't have an agent you can't see a condo, or any private residence. Homeowners don't want strange people walking through their house and they don't want to make allowances unless a real estate agent knows their is a possibility that you can afford the rent. There are always other options.If you don't want a rental agent, you do have a choice. You can rent from an apartment complex---less hassles on the front end, more hassles on the back end. Or, you can take your chances on Craigslist. My advice: Craigslist is great for room shares, but doesn't work so well for grown-ups. The most important thing every renter should know about condos.Then, the last and most important thing any renter should know about condos: in today's market a condo will cost you a few dollars more each month than a rental. But a condo will cost you less on an annual basis. How is this possible? Condo owners pay association fees and mortgage. Taken together, a first time buyer with a low down payment will have payment slightly higher than a rental. But each year we all file taxes. Renters take a standard deduction. But, property owners can deduct real estate taxes, mortgage interest, depreciation and certain other expenses from their taxes. This can amount to thousands of real dollars in your pocket each year. Don't forget, next year, the renter will get a rent increase. Next year, but if you buy, the mortgage will be the same. It's your choice, but this is the best time to buy in the last 5 years. 
Will Nesbitt Realty LLC is a real estate agency licensed in Virginia. Our unbiased opinions about this and other condo associations are assured as we do not have a listing agency relationship with any particular condominium association. Instead, we pride ourselves working for you our client whether you are a buyer, renter, seller or landlord. Condo Alexandria is a web content provider that specializes in condos, condominiums, townhouses or and real estate in Northern Virginia. The information on this site is generously provided at no cost to you, but we appreciate and welcome the opportunity to be of service. We serve buyers, renters, seller and landlords in Alexandria, in Arlington, in Falls Church and in Fairfax County.
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$1,700 :: 301 Beauregard St #217, Alexandria VA, 22312Click headline for more information about this property or to schedule a showing.Click here for a map, more information and additional photos (if any)  2 beds, 2 full 1 part baths Home size: 1,250 sq ft Lot Size: 0 sq ft Added: 07/12/10, Last Updated: 07/16/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: AX7386345 Tract: The Fountains LOOK NO FURTHER** This 2 Level Loft Boasts 2 Large Bedrooms, 2 Master Baths, Great Amenities. This Home is Located Near A Quick Bus Ride to Pentagon. It Also Offers Many International and Local Eateries, Shops, Grocer, Gym and so much More! This home is MOVE-IN Ready! Please Call Angela 1 Hour Before Showing. Thank you Very Much. Listed with RE/MAX Allegiance Brought to you by Will Nesbitt, Condo Alexandria. Call me today at 703 765 0300, or visit my website at www.condo-alexandria.com! Information deemed to be accurate but not guaranteed on Friday, 16, July, 2010 . |
$1,600 :: 301 Beauregard #1406, Alexandria VA, 22312Click headline for more information about this property or to schedule a showing.Click here for a map, more information and additional photos (if any) 2 beds, 2 baths Home size: 1,225 sq ft Lot Size: 0 sq ft Added: 06/28/10, Last Updated: 06/28/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7375001 Tract: Fountains Awesome corner condo unit featuring new kitchen with granite and new kitchen floor, new carpet, new paint, refrigerator, range and microwave. Enjoy lots of windows, large bedrooms and so much more. Don't delay close to shopping and restaurants. Exercise room and great community benefits. Deal w/Owner Directly. Some Utilities included in condo fee. Listed with Weichert, REALTORS Brought to you by Will Nesbitt, Condo Alexandria. Call me today at 703 765 0300, or visit my website at www.condo-alexandria.com! Information deemed to be accurate but not guaranteed on Monday, 28, June, 2010 . |
Posted on Monday, 15, March, 2010 Hunting Creek ClubHunting Creek Club is located a short walk from the Huntington Metro Station and a short drive from Old Town Alexandria. Hunting Creek Club features balconies, many with impressive views, hardwood floors and an active and concerned condo association. Each condominium at Hunting Creek Club is individually owned, and there are often great condos for [...] |
Posted on Friday, 12, February, 2010 $1224 — all utilities included in a great neighborhood |
Posted on Saturday, 12, December, 2009 How does a real estate agent become a REALTOR?A real estate agent is a professional licensed to buy, sell and manage real estate for a fee on the behalf of others. Not all real estate agents are REALTORS. A broker is a real estate agent who has reached a higher educational standard and who accepts certain additional responsibilities commensurate with this level of [...] |
Posted on Thursday, 09, October, 2008 Condo Comparison: Huntington ClubA buyer recently asked me to do a comparison of condos that are at and around the Huntington Metro. For those who don’t know, the Huntington Metro is the last stop on the Yellow Line in Fairfax County, Virginia, just outside Alexandria. The Yellow Line is my favorite Metro line because it doesn’t have many [...] |
