Rentals at Montebello condominiums
As 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.
$2,500 :: 5904 Mount Eagle Dr #1101, Alexandria VA, 22303Click 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: 1,460 sq ft Lot Size: 0 sq ft Added: 07/03/10, Last Updated: 09/03/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7380101 Tract: Montebello This unit is in excellent condition with a redone kitchen plus 153 sq.ft.of enclosed glassed in balcony with a beautiful view. Private shuttle to the Huntington Metro (Yellow Line) included in rent, indoor/ outdoor pools, tennis, community center, restaurant & bar, hair salon, mini mart, bowling alley, exercise equipment/sauna. Available as a 1 bedroom for$1800. Per month. Listed with Coldwell Banker Residential Brokerage 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 Fri, 03 Sep 2010 12:20:00 GMT. |
$1,475 :: 5901 Mount Eagle Dr #402, Alexandria VA, 22303Click headline for more information about this property or to schedule a showing.Click here for a map, more information and additional photos (if any)  1 beds, 1 bath Home size: 1,005 sq ft Lot Size: 0 sq ft Added: 09/02/10, Last Updated: 09/02/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7428103 Tract: Montebello 1 BR 1 BA and over 1,000 SF in which to savor the amenities of Life at Montebello: indoor and outdoor pools, tennis, sauna, fitness suite, bowling, cafe, salon and market all 'at home'! With over thirty acres of leafy bliss this five building compound at the Beltway and Old Town Alexandria offers Fairfax's premier gated community. METRO Yellow access via path/private shuttle! Listed with Montebello Marketing, Inc. 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 Thu, 02 Sep 2010 14:25:00 GMT. |
$1,450 :: 5904 Mount Eagle Dr #217, Alexandria VA, 22303Click headline for more information about this property or to schedule a showing.Click here for a map, more information and additional photos (if any)  1 beds, 1 bath Home size: 850 sq ft Lot Size: 0 sq ft Added: 08/27/10, Last Updated: 08/27/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7423711 Tract: Montebello Be prepared to act on this sought-after mid-level 1 BR with updated kitchen which offers the footage you crave! Montebello's amenities cinch the prospect of an exclusive, luxurious home high in the leafy treetops of this gated compound: just outside the Beltway/Old Town, over thirty acres, indoor and outdoor pools, on-site markets with METRO Yellow access via path/private shuttle. Listed with Montebello Marketing, Inc. 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 Fri, 27 Aug 2010 14:44:00 GMT. |
$2,500 :: 5902 Mount Eagle Dr #508, Alexandria VA, 22303Click headline for more information about this property or to schedule a showing.Click here for a map, more information and additional photos (if any)  3 beds, 2 baths Home size: 1,695 sq ft Lot Size: 0 sq ft Added: 07/30/10, Last Updated: 08/25/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7401917 Tract: Montebello THIS IS A STUNNER! BEAUTIFULLY & TOTALLY UPDATED "J" UNIT W/ GORGEOUS GRANITE COUNTERTOPS IN KITCHEN AND BOTH BATHS. A "MUST SEE" GLASS ENCLOSED BALCONY (100 SQ FT)OPEN TO LR, BALCONY OFF MBR, 2 BRAND NEW HVAC UNITS, GREAT TRANSPORTATION - WALK OR TAKE SHUTTLE TO METRO (10 MIN) AMENITIES GALORE. YOU CAN "VACATION AT HOME" ALSO FOR SALE $459,000 RENT WITH OPTION TO BUY!!!!OPEN SUN 8/15 1-4 Listed with McEnearney Associates, Inc. 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 Wed, 25 Aug 2010 11:29:00 GMT. |
$1,850 :: 5902 Mount Eagle Dr #1410, Alexandria VA, 22303Click 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: 1,160 sq ft Lot Size: 0 sq ft Added: 08/17/10, Last Updated: 08/17/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7416142 Tract: Montebello Beautifully 'renewed' and ready for your best! Scenic view and parking as well! 2 BR 2 BA offers >1100 SF. [Newly updated kitchen about which pictures from prior tenant will show level of attention.] Montebello's myriad amenities burnish this gift: indoor and outdoor pools, garage parking, tennis, salon and market, fitness suite - all within 30+ acres at the Beltway and Old Town! Listed with Montebello Marketing, Inc. 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 Tue, 17 Aug 2010 15:34:00 GMT. |
$1,795 :: 5901 Mount Eagle Dr #516, Alexandria VA, 22303Click 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: 1,195 sq ft Lot Size: 0 sq ft Added: 06/06/10, Last Updated: 08/04/10 Property Type: Residential for Rent, Res. Condo for Rent MLS Number: FX7345112 Tract: Montebello The price of this listing was last reduced on 7/30/2010 by 10% BEAUTIFULLY UPDATED*AMAZING ELEVATED PARK SETTING W/WALKING TRAILS & PICNIC AREAS ON 30 LUSH ACRES*GATED COMMUNITY*RESORT LIKE AMENITIES ABOUND*ALL SEASONS BALCONY*MINUTES TO OLD TOWN AND BELTWAY*INDOOR/OUTDOOR POOL,BOWLING,BILLIARDS,PARTY/GAME ROOMS,FITNESS CENTER, RESTURANT, BAR, DRYCLEANER,BEAUTY SHOP,& CONVENIENCE STORE*ALL YOU NEED AT YOUR FRONT DOOR*TAKE MONTEBELLO SHUTTLE OR WALK TO METRO* Listed with Condo Alexandria 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 Wed, 04 Aug 2010 10:31:00 GMT. |
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