Leasing a penthouse near Lake Michigan is a great way to get the best of both worlds with beautiful lake views and the hustle and bustle of city life. Penthouses are usually located on the top floors of buildings and offer incredible views. They also tend to have far more amenities than an apartment in the same building and many of them come with a terrace or balcony as well. There are many factors to consider when deciding to lease a penthouse near Lake Michigan, such as the size of the space, the amenities offered, the area and the cost. Here are some tips to help you find the ideal penthouse near Lake Michigan.
1. Conduct Research On The Area
Before jumping in and leasing a penthouse near Lake Michigan, it is important to conduct thorough research on the area. Consider things like the average rent prices, the types of amenities available, the proximity to city attractions, and the crime rate in the area. Additionally, read up on the local regulations that govern penthouse leasing so you are aware of the restrictions, such as night-time noise and renters restricting access to the rooftop. All of this research will enable you to make an informed decision and choose the perfect penthouse near Lake Michigan.
2. Gather References
While searching for the perfect penthouse, it’s important to gather references from the different owners or landlords. Having references from past tenants or current occupants in the same property can give you a better idea of the quality of a particular penthouse property. Gathering references is also important to ensure that the property will meet all of your expectations in terms of safety, cleanliness, and comfort. Plus, by gathering references, you can make sure that the penthouse comes with all the amenities and housing services that are in the lease agreement.
3. Determine Your Needs
Before beginning your hunt for the perfect penthouse near Lake Michigan, you must determine your needs and what you’re looking for in a penthouse. Do you need any special amenities such as a pool, a gym, or a terrace? Are you willing to pay extra for certain features such as a private balcony or floor to ceiling windows? Understanding your needs will help you narrow down your search and make the process of finding the perfect penthouse easier.
4. Consider The Cost
The cost is an important factor when considering leasing a penthouse near Lake Michigan. Penthouses tend to be more luxurious than the typical apartment, so they can be more expensive. Be sure to assess the different fees and charges associated with the penthouse, such as the monthly rent, the security deposits, the maintenance fees, and the insurance. This will help you decide on the best penthouse for you, depending on your budget.
5. Use Online Resources
In today’s digital world, there is no need to physically visit a property to find out the specifics of a penthouse near Lake Michigan. There are several online resources available, such as listing websites and real estate apps, that allow you to compare different penthouses and check out photos, videos, and ratings from former tenants. Additionally, many landlords post their listings directly on their websites, which makes it easy for potential tenants to get more information about the property. By utilizing these online resources, you can quickly assess different penthouses near Lake Michigan.
6. Schedule A Tour
Once you’ve narrowed down your selections, it is time to visit the properties and take a tour. During the tour, take a good look at the inside and outside of the property and ask questions. Be sure to note down any defects or issues you find so you can make an informed decision when signing the lease. Doing a tour is also important to ensure that all amenities, such as the pool, gym, and outdoor spaces, meet your expectations and match with what’s mentioned in the leasing agreement.
7. Read The Lease Agreement Carefully
Before signing a lease on any penthouse near Lake Michigan, it is essential to read the whole agreement thoroughly. While certain aspects of the lease may seem obvious, there could still be clauses or conditions that you are not aware of. Don’t hesitate to ask the landlord questions and use the services of a lawyer if necessary. Additionally, be sure to note the rental period and any hidden fees that may be included in the agreement.
8. Understand Your Rights As A Tenant
Having a good understanding of your rights as a tenant will help ensure you are aware of any issues or conflicts that may arise during your time in the penthouse. This includes knowing who is responsible for maintenance tasks, understanding your limitation on guests, and knowing the protocols that have to be followed in the event of a dispute. It is important to note that these rights and regulations differ from place to place, so be sure to do the research and ask your landlord to explain the specific rules and regulations that apply to you.
Calculate the Total Costs and Expenses
It’s important to do some math when deciding to lease a penthouse near Lake Michigan as there are many costs and expenses associated with such an arrangement. All direct and indirect costs should be taken into consideration such as the rental payments, insurance premiums, home maintenance, utilities and other related incurred expenses. This can help you understand what your total outgoings will be, in order to calculate whether or not the penthouse is worth your most valuable asset – time.
Identify Accessibility Features
Before settling on a penthouse near Lake Michigan, it is important to make sure that it is easily accessible and meets your individual accessibility needs. This can include the furnishings and layout, the door widths, the number of steps and the outdoor access. You should also look at the parking facilities, elevators, and access ramps which might help you determine its accessibility level. Additionally, always ask questions to the landlord or property manager about accessibility features, in case they aren’t clearly outlined in the listing.
Hire Professional Inspections
When leasing a penthouse near Lake Michigan, it is important to hire a professional inspector to assess the condition of the property. A professional inspection should cover all the areas of the penthouse, including the plumbing and electrical system, the floors, the windows, and the walls. This will help you to make sure the penthouse is safe, up to code and suitable for living in. Additionally, you should ask to see the results of a professional inspection before signing the lease.
Check Neighbourhood Amenities
The area around your penthouse should also be assessed before taking the plunge and signing the lease. Look at the local amenities available in the area, such as grocery stores, banks, parks, and coffee shops. Additionally, it is important to consider the safety of the neighbourhood in order to ensure your peace of mind. Read the local real estate market trends and ask people who have already spent time in the area to get an accurate understanding of the neighbourhood.
