Consider these three things before you rent a furnished apartment

Photo: The Streeter
Every year I hear from thousands of professionals looking for help finding the perfect place to live.
While the criteria for the perfect apartment varies from person to person, it stays relatively consistent year in and year out. Many people want units with hardwood, others with carpet. Some are willing to pay more for nicer finishes, while laminate and white appliances are fine with others. Dozens want a doorman, a business center, and a gym, while others prefer almost no amenities.
But the number one question I hear every single year is, “Can I get a furnished apartment?” The answer is a resounding yes, but there are three key things to consider before you do.
Price
Price is often the driving force behind the apartment somebody decides to rent. And, as with most things in life, you pay for what you get. That’s why furnished options almost always come at a significant premium.
For a furnished studio near downtown Chicago, prepare for the rent to start around $3,000, possibly even $3,500/month. Size up, and you can expect to pay around $4,500+ for a one bedroom, $6,000+ for a two bedroom, and so on. These prices include furniture, utilities, and sometimes even the linens, kitchenware, light bulbs – just about everything but parking. These apartments are found in true luxury high-rises.
Depending on your budget and priorities, you can find more affordable options that are furnished, but not fully equipped with linens, kitchenware, or other comforts of home. Generally found in older buildings, these apartments have rental rates that are commensurate with their aesthetics and age. (Pro tip: these are often hidden gems, so don’t be afraid to ask your broker to see units at varying price points).
Amenities
What is truly important to you? Many people love amenities, but before you choose an amenity-rich building, consider your lifestyle.
Do you need that rooftop pool? Do you need a balcony or movie theater? Will you be in school studying or working too many hours to take advantage of the amenities that some of these buildings have to offer? Maybe you don’t need to have dry cleaning in the building, but instead prefer to have a nice fitness center.
This is something you really need to consider because when it comes to furnished apartments, the disparity of rent between the amenity-rich and bare bones buildings can be substantial.
Privacy
Not many people think about their “space” when renting a furnished apartment, but this too is something to think about. Do you truly need your own apartment or can you share?
If you’re okay with sharing an apartment or even a room, there are plenty of options available, many of which are close to the Central Business District. Furthermore, most of them include everything. But at a minimum, you will at least be sharing an apartment. You may have your own room, but you’ll likely share a bathroom, kitchen, and other common areas.
The bottom line: There are options if you want the plug and play apartment. If you don’t want to deal with buying or moving furniture, and want to arrive to a furnished apartment in Chicago, you’re in luck.
Given that we’ve been helping thousands over the years, we have found some of the most reasonable options, many of which go beyond what is mentioned above. But you still need to strongly consider not only what you’re willing to pay, but also what exactly is included.
Finding any apartment can be a pain for people, not just those coming from out of the state or country. Adding the furnished factor to the mix changes things quite a bit. For questions about any of the options above, or for any apartment or condo-finding service and help, never hesitate to reach out.
Thanks for going over some considerations to think about when renting an apartment. I’m glad you mentioned that you should know what amenities are available, or if you will be able to even have the time to enjoy them. Maybe it could be good to have a list of what your priorities are so that you know more of what to search for.
Thanks for reading! GREAT point about having time to enjoy amenities — especially for grad students or people who work long hours.
I do like that you recommend considering the amenities and your lifestyle. After all, while a pool may sound nice, if you’re not going to use it then it is a waste of money. You want to consider which amenities will actually be useful to you before you spend any money on them.
Thanks for this valuable piece of advice.I will definitely look in to it while renting a service apartment.Anyways great blog!!!
Thanks for sharing a useful information with us. I will definitely look all the three-pointers that you have mentioned here. Awesome blog, keep posting!!
If you’re going to rent a furnished apartment then there really are a lot of factors to take into consideration. I particularly like that the article brings up the importance of looking into which amenities are offered. After all, if the apartment is already furnished then you might need to make sure that it comes with all of the amenities you want.
That’s a good point to see if you need some of the amenities that an apartment offers. If you decide to not get one with all the amenities that would help keep the higher rent that comes with a furnished apartment down. I’m probably not going to need all the things like a pool or workout room, so I’ll have to take a look for one that doesn’t have all the unnecessary things.
We are looking for an apartment we can move in this coming winter; I’m glad I came across this article and learned tips when looking for an apartment studio.
I like how you mentioned the importance of knowing the inclusion of the price you will be paying, such as utilities and furniture.
I will share this with my husband and see how it can help us who and where to reach out for a furnished apartment we can rent.