Many students want to rent close to campus for obvious reasons: walk to class, able to go home easily when you have a break from class, lots of restaurants, that’s where your friends are, etc.

Sometimes non students like to live close to campus too so that they can be close to campus activities.  They enjoy the liveliness of the area.

It used to be that apartments on campus were more expensive than those farther away, but I’m not sure that’s true anymore.  Yes, the new ones are more expensive.  And the group houses are more expensive closer to campus.  A house of comparable size off campus will usually be quite a bit cheaper.  But, I think, apartments are about the same and can be found in a range of prices both on and off campus.

Parking is usually free off campus and plentiful.  On campus it’ll cost you if you can find it.

Most of the furnished apartments are on campus.  Even a few blocks from Green and Lincoln you’ll find that most of the apartments are unfurnished.

Another bonus for you, the renter, is that you don’t have to take time off from work or school to meet the repair person.  You don’t even have to cancel your lunch date.  Your landlord is going to take care of it.

Another advantage to renting is that you are not locked in long term.  Your lease is probably for a year, so if you want to live somewhere else next year, you can just move.  Need more room, want to be closer to work, don’t like your neighbors–you can move at the end of the year.

Renting gives you time to get to know the town, if you are a newcomer.  Rather than buying right away, rent a place to your liking and take your time finding just the right area for you.

So, to sum up, renting from a good landlord can simplify your life because you aren’t just renting an apartment or house, you are getting a service, someone on your side who keeps your place running smoothly.

Another important point is that most leases are for one year, so even if you won’t be in town for the summer, you probably will be paying rent.  Usually your lease will allow you to sublet your apartment with the approval of your landlord, but be aware that there are a lot of summer sublets, so you may not be able to find someone to sublet or you may have to rent your place for less than what you are obligated to pay.

Additional caveat:  When you sublet your apartment, you are still responsible for your lease—-rent and any damage.

Just keep in mind that you can’t keep everyone happy all of the time.

So, if you have a couple of places in mind, checking on the landlord can help you make your decision.  Or you can talk to the Tenant Union before you make an appointment to see a place.

Well, when you own your home you can have pets, you can decorate any way you please, you can  change things.  so it would seem like you have more freedom.

There’s one big problem; what about when you want to move?   When you own a home, you will have to either sell it or rent it to someone (or you could just hang onto it, which is quite expensive).  The resale market is slow right  now so you could be trying to sell that house for 6 months or a year or longer.

Worst case when you rent is that you will have to pay for the balance of your lease.  You may be able to sublet your place to someone for the full rent that you are obligated to or for something less. But your loss is limited.  When you own a house, you could lose a lot.

I used to tell people not to buy unless they planned to be in the house for at least 3 years, now it’s 5 years.  You see, when you sell, you will have to pay a 5 or 6 percent commission and, on top of that, you may not get as much as you paid for it.

It is fun to live with your friends, and it can be a great idea to share expenses, but here are some things that I have heard from students.

Sometimes it’s hard to get along–maybe they are messier than you or noisier.  Maybe you need a quiet place to study and they want to party.  Just a word to the wise.

Another thing that comes up is money.  What are each of you responsible for?  Whose name will the utilities, etc. be in.?  You could get stuck with the bills.

How is your lease set up?   Often each person is responsible for the entire rent.  For instance, if one of the people in the apartment does not pay their part, and your landlord cannot collect from that person, he/she will hold you and any other people on the lease responsible.

Some apartments are rented to each person individually, but  many are not–which means that all tenants are responsible for all of the rent.

What utilities are included?  Utilities have gone up a lot in the past few years, so they will be a big item.  Is garbage hauling extra? How about parking?  Cable,  internet?

Is the place furnished? Are window coverings furnished? Many campus apartments are furnished, but once you get a little farther from campus, you’ll find that places are not furnished.

If you are renting a house, will you be responsible for mowing the yard?

Consider all of these things to arrive at your bottom line.  No surprises.

The Champaign side of campus is more lively; there are more apartment buildings, more bars and more parties. Consequently it is noisier on that side of campus.

The Urbana side of campus is more residential and quieter.  There are pretty tree lined streets and there are more houses on that side where faculty live.

There are some apartment complexes, particularly in Urbana that are a little farther from campus–not really within easy walking distance.  These complexes often market their units to students and sometimes have transportation. (I don’t really know much about this setup).

But know that there are many apartments and houses both in Champaign and Urbana that are within easy walking distance to campus.

My favorite place to advertise is Craigslist because the ads are not limited in length; there’s no need to abbreviate; and there are pictures!! So you can really get a lot of information. But don’t disregard the ads without pictures because some of the smaller landlords may not have pictures.

Finally, you can drive through the areas you like and look for signs. Just remember that not all properties with units available, or houses, for that matter, have a sign. I rarely use signs for a variety of reasons.
Happy hunting!