Renting an Apartment Above Business

Historically, shopkeepers have lived above their businesses and now they’re renting the apartments out. Many of these businesses are bars, restaurants, and convenience stores. Others are professional offices or creative venues like yoga or dance studios. If you’re interested in renting an apartment above a business, you should research your options.

Pros and cons of renting an apartment above a business

Living above a business can offer many advantages and can provide a unique lifestyle. For example, you can work at your business while you commute to work, or you can spend your evenings at a nearby bar or restaurant. It can also offer a cheaper rent because the landlord will usually pay for some utilities. However, you should keep in mind that you’ll have to deal with business hours that interfere with your personal lifestyle.

Another disadvantage of renting an apartment above a business is that you won’t have the luxury of an elevator. You’ll need to climb a narrow staircase, and you may be required to mount furniture. Additionally, you’ll have to deal with the unique smells that will float into the apartment. Some smells are pleasant, while others can be unpleasant.

Benefits of living above a business

Living above a business can provide a number of benefits. For starters, you may be able to develop a sense of community with other residents. Often, the store or shop below will accept your packages and deliver them to you. If you live far from your family, this convenience may be especially beneficial. Another benefit is that you can often get more exercise. Since you will have to travel a fair amount, living above a business may increase your cardiovascular fitness.

Cost of renting an apartment above a business

Renting an apartment above a business can have many advantages. For starters, the rent can be cheaper than what the area average is. Additionally, certain utilities may be covered by the landlord. In addition, older units may be less expensive to rent. The rent may be higher, however, if you are in a prime location or are renting a newly renovated unit.

Utility fees vary by city and apartment, but most rental properties have at least one form of utility fee, which can be electricity, gas, WiFi, and water. It is important to ask prospective landlords about these fees, as they can add up quickly. Additionally, make sure you have adequate storage space and consider transportation costs. You may also have to pay a facility usage fee if the apartment community offers luxury amenities.

Another upfront cost of renting an apartment is the security deposit. A landlord or property manager collects this fee from prospective tenants before they move in. It serves as collateral for the landlord in case of damage. It is usually equivalent to one month’s rent and is returned to the tenant at the end of the lease.