As co-principal (with partner Justin Elliott) of Chicago Apartment Finders, one of the most in-demand rental agencies in the city, Andrew Ahitow knows what he’s talking about. Ahitow recently talked with RedEye about renting in the city.
What should be a person’s first step in the hunt for an apartment?
Go on the Internet. Do a Google search for apartment locators. Do some research on which companies you’d like to use as a service or which newspapers have classified listings.
Forget landlords–what’s the biggest question renters forget to ask themselves?
I think the biggest decision of where you want to live is the … neighborhood. Is it something more residential? Does it have that downtown New York feel? Do you like quiet? … Ravenswood is a very quiet area, Lincoln Square, West Rogers Park, Roscoe Village–and there’s still things to walk to. Streeterville, Lincoln Park, Wrigleyville, Lakeview–all have that New York feel.
How can would-be renters figure out how much they can pay in rent and avoid bouncing checks on utilities?
They should look at how much they can afford. … You should look at your monthly income. You look at how much money you bring in monthly and your other expenses, and you look at how much you would like to spend. They say 25 to 40 percent of your gross income. [For your utilities], you’re really looking at your gas, your electric, your phone, your cable and your Internet.
What should I ask the landlord or check out while I’m looking at a place?
You want to know what’s included in the rent. Where is the landlord located? Where are their offices? Do they have maintenance people available? If not, who can you call if repair is needed? It’s really more the look of the apartment for the most part and if it has the right space. Pay attention to the lobby; look to see if it’s clean. Look at the general upkeep up the building. If it’s a vacant apartment and it doesn’t appear to be clean, most likely it’s not a great place to live.
What are some typical landlord tricks?
Landlords will try to keep your security for any little thing, and typically they won’t justify it. One of the things that a lot of people don’t know is that the landlords have to return your security deposit in full within 45 days, and they have to give you in writing what they’re holding it for within 30 days. It’s in the city ordinance.
Will landlords cut a deal on the rent?
Right now, landlords are open to do almost anything. If the carpet’s not cleanable, they’ll typically replace it. They’ll give it a fresh coat of paint. And a lot of times, as far as rent goes, clients will make offers. There’s definitely flexibility in the rents. Private landlords will negotiate up to 10 percent sometimes. [Some landlords will] do $99 security deposits, they’ll do a month or two months free. But good landlords don’t have a problem renting their properties.
How fast can someone rent an apartment?
The typical approval [process] takes two to three days. Once you’re approved, you can move in, as long as the apartment’s vacant. [Starting to look] 30 to 45 days before move-in is probably the best because you have the most available, but you’re going to get more for your dollar the closer it is to the move date.
What neighborhoods are hot right now?
River North is probably the hottest area in the city. People like the brand-new stuff. They love the brand-new granite, stainless, hardwood floors, and they can get that in River North because there’s so much there. … Logan Square is a really good value. It’s right by transportation. It’s probably the next area to really pop.
Have you dealt with any unusual or impossible requests from renters lately?
About two weeks ago, we had two girls come in here looking for a $300/month two-bedroom in Lakeview. But they were from the suburbs, and I as nicely as possible explained to them what the rental market is and what they need to spend. I showed them the rent ranges. But they had no idea. … And we’ve had people come in with their luggage and say, “We need to move.”
What is the best renting advice you should be charging for but are giving away for free?
Make sure you know who your landlord is, and make sure you’re getting a good deal. Do your research. And you will get [parking] tickets, guaranteed. Pay for parking. If it’s your last dollar, pay for it. … Oh, and if you’re looking to store your Corvette in a garage, go back to the ‘burbs.
