What Is a Townhouse
A townhouse is a type of home that shares two or more walls with an adjacent property. Townhouses have at least two floors, and the connected homes have separate entrances. Townhouses are found all over the US, although the most famous townhouses are often brownstones in large cities like New York. Townhouses offer many benefits of a single-family home but are more space efficient, making them ideal for urban areas where real estate is precious.
Although mainly found in urban areas, suburban townhouses have become increasingly popular and can often be found in planned communities with shared amenities such as a pool, clubhouse, etc. Townhouses offer a wide range of benefits that make them an attractive alternative to a traditional detached single-family home for many homebuyers.
Can You Rent a Townhouse?
Yes, you can rent a townhouse. Townhouses are often available for rent just like apartments and single-family homes. Renting a townhouse can provide a blend of the privacy and space of a single-family home with some of the conveniences of apartment living. Townhouses tend to be a bit more spacious than an apartment because they have multiple floors that you will have to yourself. Townhouses often feature a small front or backyard, which is great if you have pets.
Here’s a detailed guide on how to rent a townhouse:
How to Rent a Townhouse
1. Determine Your Budget
The first step in renting a townhouse is determining your budget. You should start by calculating how much you can afford to spend on rent each month. Consider additional costs like utilities, maintenance, and renters insurance. A common rule of thumb is to spend no more than 30% of your monthly income on rent.
2. Research and Identify Preferred Locations
Next you'll need to decide where you want to live. Consider factors like proximity to work, schools, public transportation, amenities, and safety when choosing a location. Research rental market trends in your desired area to understand average rent prices and availability.
3. Search for Available Townhouses
After deciding on a neighborhood, it's time to search for townhouses for rent. Use websites like Zillow, Trulia, Realtor.com, and Apartments.com to search for available townhouses in your preferred area. You can also consider working with a real estate agent who specializes in rentals. They may have access to off market properties and can help you find listings and navigate the rental process.
Classifieds and Community Boards: Check local newspapers, community bulletin boards, and online classifieds like Craigslist.
4. Tour Available Townhouses
Reach out to landlords or property management companies to schedule viewings of townhouses you’re interested in. Prepare a list of questions to ask during the viewing, such as details about the lease terms, utilities, maintenance responsibilities, and any community rules. During the viewing, thoroughly inspect the townhouse. Look for signs of damage, check the functionality of appliances, and assess the overall condition of the property.
5. Submit a Rental Application
Once you find a suitable townhouse, complete the rental application form provided by the landlord or property manager. This typically includes personal information, employment details, and rental history. Be prepared to pay a non-refundable application fee, which covers the cost of processing your application and conducting a background check. You will also need to submit documents such as pay stubs, tax returns, or bank statements to verify your income.
6. Review and Sign the Lease Agreement
Once you're approved carefully review the lease agreement, including the rent amount, lease duration, security deposit, and any rules or restrictions. If needed, negotiate terms with the landlord before signing.Consider having a real estate attorney review the lease to ensure you understand all terms and conditions.
7. Pay the Security Deposit and Initial Rent
After the lease signing for your new townhouse you'll typically need to pay the security deposit, which is typically one to two months’ rent, and any prorated rent if you’re moving in mid-month. Make sure you understand all upfront costs, including the first month’s rent and any additional fees.
8. Move In
Finally, it's time to move into your new townhouse. Be sure to coordinate your move-in date and plan the logistics of moving your belongings. You should also set up utilities and other necessary services in your name. During the move-in, complete a move-in inspection checklist with the landlord to document the condition of the townhouse at the start of your lease.
Pros of Renting a Townhouse
- Extra Space
- Less Maintenance
- Shared Amenities
1. Extra Space
Townhouses often offer more space than apartments or condos because they feature multiple floors. Depending on the layout, the square footage may be comparable to a single-family home. This gives you all the lifestyle benefits of a single-family home without all the costs or responsibilities of owning a house with a large plot of land.
2. Less Maintenance
Townhouses are also usually easier to maintain than single-family homes. Although if you’re renting, the landlord or HOA will have maintenance responsibilities. But for you, this means fewer disruptions and additional fees. So, you don’t have to worry about mowing the lawn or trimming the hedges every few weeks.
3. Shared Amenities
Townhouses are often located in communities with shared amenities such as a pool, clubhouse, fitness center, etc. These amenities are paid for through the fees paid to the homeowner’s association and can be a great way to meet your neighbors and socialize within the community.
Cons of Renting a Townhouse
- Smaller Lot
- Less Privacy
- Potential Restrictions
1. Smaller Lot
Townhouses typically don’t feature the large, open yards you expect with a single-family home. They may feature a small private outdoor area you can access, but it likely won’t be huge. So, if you have kids and need a place where they can run around, a townhouse may not be the best option.
2. Less Privacy
Townhouses tend to offer less property than detached homes because you share walls with your neighbor. You will have your own private entrance, which provides a bit of seclusion. But the landlord may not own the building next door, so you have little control over noisy or uncooperative neighbors.
3. Potential Restrictions
The homeowners association of a townhouse may have certain restrictions you wouldn’t have to deal with a single-family home or regular apartment. For instance, they may have rules about long-term guests or parking that you should consider.
Renting a Townhouse Bottom Line
Renting a townhouse involves several steps, from determining your budget and researching locations to inspecting properties and signing a lease. Townhouses offer a healthy balance for those who want a blend between a detached single-family home and an apartment. They make great starter homes and urban retreats for those who want extra square footage. But they also feature their drawbacks, so be sure to weigh the pros and cons carefully if you’re considering renting a townhouse