Flush with Cash from Target, Startup Attacks Rental Headaches
Smith’s venture joins a growing wave of challenges to the traditional tenets of renting -- a movement that’s questioning why leasing an apartment requires sizable upfront costs and a commitment to stay for a year. Tenants pay Landing an annual membership fee of $199, which allows them to sublease an...
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| Published in: | National Real Estate Investor 2019-11 |
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| Main Author: | |
| Format: | Article |
| Language: | eng |
| Subjects: | |
| Online Access: | Get full text |
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| Summary: | Smith’s venture joins a growing wave of challenges to the traditional tenets of renting -- a movement that’s questioning why leasing an apartment requires sizable upfront costs and a commitment to stay for a year. Tenants pay Landing an annual membership fee of $199, which allows them to sublease any of those apartments for a monthly rental cost that’s about 10% to 13% higher than if they rented a unit directly from the landlord, he said. Renting an empty one-bedroom in the same building directly from AvalonBay on Dec. 1, would cost $4,447 a month, plus a $2,000 refundable deposit for a 12-month lease, the landlord’s website shows. |
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| ISSN: | 0027-9994 |