In recent years, more people have been renting homes versus buying them. In fact, one report found that more people are renting homes nowadays than they have in almost 50 years.
If you’re thinking about joining them by securing a rental home, you should know that you’re going to have lots of different options. There are many types of rental homes available through home rental companies.
You should take the time to figure out which kind of rental home you want before you rent a home. It’ll ensure that you’re able to get your hands on the keys to the right type of rental home for you based on your specific situation.
Check out the top seven rental home options below and decide which one you would like to go with.
1. Apartment
The first rental home option that we’re going to talk about isn’t a “home” at all. It’s an apartment, which is one of the most common types of rentals on the market today.
If you’re going to be living by yourself or just with a roommate, an apartment is usually going to be your best bet. It’ll provide you with enough space and set you up with an affordable rental price.
Renting an apartment will also limit the amount of work that you’ll have to do to take care of the outdoor space that this housing option has. If you’re looking for a maintenance-free rental home, an apartment could be just what you need.
2. Condominium
Condominiums are another good option for those who don’t need a super large rental home. They are, in a lot of ways, just like apartments except that you’ll typically rent a condo from someone who owns it as opposed to renting it through the rental office at an apartment complex.
Many condos also offer more amenities than you’ll find in the average apartment. While most of the apartments in an apartment complex will look and feel the exact same, condos will be different since they’ll all have different people who own them.
If you’re searching for something a little nicer than the average apartment, you might love what a condo has to offer. You might have to pay a little more for a condo, but it’ll be worth it in the end.
3. Townhouse
If you like the idea of living in a complex but don’t love the fact that apartments and condominiums don’t always offer a ton of extra space, you might appreciate what a townhouse will bring to the table. Townhouses are, like apartments and condos, situated in complexes with other townhouses. But they tend to be bigger than both apartments and condos.
There are many townhouses that will be big enough for an entire family to live in. They’ll have multiple bedrooms and bathrooms as well as spacious living rooms, kitchens, and sometimes even finished basements.
Renting a townhouse will cost more than renting an apartment or condo in most cases. But once you see all the extra amenities that you’ll get in one, you won’t mind this one bit.
4. Single-Family Home
If you would like an actual rental home as opposed to an apartment, condo, or townhouse, then a single-family home will be right up your alley. This is what most people think of when they picture a rental home in their heads.
As its name would suggest, a single-family home will be able to fit one family in it. But with that being said, your family might not fit into every single-family home.
Some single-family homes have two bedrooms and one bathroom. Other single-family homes have six bedrooms and three bathrooms. You’ll need to look for a single-family home that is the right size for your family if you’re going to go in this direction when renting a home.
This link should lead you to some good options in your area.
5. Multi-Family Home
While a single-family home is built to house one family at a time, multi-family homes have enough space for at least two families to live in separate parts of it.
If you’re going to have multiple generations of your family living under one roof, you might be able to benefit from renting a multi-family home. You might also be able to move your single family into one portion of a multi-family home where you’ll live side-by-side with another family.
6. Specialty Home
When you poke around on home rental websites, you’re going to find that some rental homes are offered to specific groups of people. For example, you might find rental homes that are for:
- College students
- Senior citizens
- Those living with disabilities
It’s important to pay close attention to any notes that suggest that rental homes are only for certain types of people. A specialty home isn’t always going to be available for the general public to rent.
7. Vacation Home
We can’t run through a whole list of rental home options without mentioning vacation home rentals. If you’re going to be taking a vacation soon, a vacation home rental agency might be able to set you up with a rental home for a week or more.
This is often a better approach to take than staying in a hotel room. You’ll enjoy a much better experience when you rent a home when you’re away on vacation.
Which of These Rental Home Options Would Be Your Best Choice?
Do you like the idea of renting a home more than buying one? If so, you should give some thought to which rental home option would be the right choice for you.
There are pros and cons associated with each rental home option on this list. You should weigh these pros and cons so that you’re able to decide which type of rental home you would like to put in an application for.
Read more real estate-related articles by poking around on the rest of our blog to see what else it has to offer.
