Finding a new luxury apartment is equal parts exciting and stressful, right? You have a lot to consider, including commute distance, style, unit size, and building amenities, and most of what you want, and need can often conflict with your wallet. Most importantly, you’ll have to find a packing and moving company that can help you make your move successful. In fact, you might assume that Las Vegas luxury apartments are well outside of your budget. However, this is not the case. The good news is that with a little due diligence and some smart moves, you can easily find both a dream and an affordable apartment. Here’s what you need to know.
Living expenses are cheaper when you have someone to share the financial burden. Most luxury apartments for rent do not double-down on the rent between units with two or three verses one bedroom. So, if that one bedroom is an unaffordable amount per month, look into renting the two-bedroom or three-bedroom for only an additional few hundred dollars. When you divide either rent by two or three roommates, your rent is now a much more affordable number than it was for the one-bedroom unit by yourself. Plus, you have roommates to split renter-paid utilities and furnishing expenses.
Seasonal changes that revolve around back to school, tourism, and harsh weather changes have a huge influence on the rental market. Increased demand during peak apartment Las Vegas seasons drives rental prices up. Use the following timing tips to your advantage:
- Look for lapses, such as semester changes, that cause a high rental turnover in the market.
- Wait for weather-reliability periods.
- Wait for off-seasons where landlords are most flexible on rent negotiations.
You can also see when more Las Vegas luxury apartments for rent are on the market, so you’ll have an idea of when the market might be more competitive.
The great thing about brand new apartment buildings, especially luxury Las Vegas and Henderson apartments for rent, is that they generally have marketers tasked with reaching x capacity point by x day. This means they’re more likely to incentivize potential new tenants with freebies like:
- Free gym access
- Free laundry access
- Waive move-in fees and deposits
- Free parking
- Free first month’s rent
- Free WiFi
Such perks can really boost your rental experience and get you in a luxury apartment you assumed was outside of your budget.
The middle ground is sometimes the best on your budget for the unit itself. Lower units can be more expensive because they are easier to access. Higher levels will often feature stunning views of the city and property, so you can expect a higher rental price in these cases.
One way to save big is just by taking the less convenient middle-floor unit. It’s true, you may have to walk a little further from the parking lot to get to your front door, and you might not have a spectacular view from your balcony, but you will still have access to all the luxury amenities as the other tenants. For most, it will be a small sacrifice to still get all the luxury, space, and prime location of a great apartment.
Landlords want long-term, reliable, secure renters. They want to know you have a stable source of income, a solid history of paying debts on time, and haven’t been a troublemaker to other landlords. Here are some tips to becoming a prime renter:
- Use free online sources to monitor your credit score. If it’s low, work on improving your debt-to-income and debt-to-credit ratios and disputing any untrue negative marks.
- Get a letter of recommendation from your current landlord and solid rental references.
- Avoid gaining a new apartment at the expense of leaving your current rental agreement terms unfulfilled.
- Have proof of income on-hand.
The above will also enable you to act fast when you do find that perfect luxury Las Vegas apartment. Rent can change day by day, and the number of renters looking for luxury apartments in high-demand areas often outnumber the volume of available units. So, you need to be able to act fast as the most ideal renter when you find the one.
It’s important to understand that rent is negotiable to a certain extent, and you may be able to get more than what was initially offered to you. If you ask your landlord the right questions, you may be able to lower the original amount you thought you were going to have to pay per month. By having a great credit history and an impeccable list of references from former landlords, you are an ideal renter that most landlords would be willing to bend the rules to have.
Some things you can ask your potential landlord about include free parking, upgrades to a bigger apartment or one with a view for the same price, a lower security deposit, included utilities, and more. Remember, if you are an excellent rental candidate, some landlords may be willing to give in to some of these requests in order to get you in their complex. This could ultimately save you money and stretch your budget more than you thought possible. The bottom line is it doesn’t hurt to ask.
In conclusion, luxury apartment hunting in Las Vegas can be daunting if you know you have a pretty limited budget. It can be exhausting trying to figure out how to get what you need and want out of a luxury apartment, especially if you can’t pay exorbitant amounts for rent. However, with due diligence, some creative thinking, and keeping a flexible mindset, it’s very possible to find the apartment of your dreams within your budget. Follow these tips the next time you’re searching for luxury apartments in Las Vegas, and you should have no trouble finding exactly what you’re looking for without having to break the bank.
Oliver is a professional real estate blogger and Investment professional with an experience of over 7+ years. He provides balanced information and tips to his readers through his articles. He generally writes about apartment search, real estate investment & luxury living.