When determining the best place to secure a lease for the upcoming school year, one of the biggest considerations is the variation in prices across different apartments.
Although comparing the listed rental rates on each property’s website is a straightforward approach, it’s crucial to recognize that the base rent figure isn’t necessarily indicative of the actual monthly charges you’ll incur.
Read Next: How Much Does it Cost for Students to Live near Georgia Tech?
At Rambler Atlanta, we understand the intricacies of the leasing process. That’s why we prioritize transparency, ensuring that you’re fully informed about the fees associated with your lease. Our goal is to eliminate any uncertainties, allowing you to anticipate your monthly expenses accurately.
In this article, we’re going to demystify the leasing landscape by giving you a full comparison between base rental rates and the comprehensive monthly costs linked to off-campus living near Georgia Tech. By understanding the complete picture, you’ll feel empowered to make informed decisions about your housing choices.
Base Rate vs. Complete Monthly Expenses for Atlanta Midtown Student Apartments
What does base rate mean?
The base rate of an apartment serves as the foundational price featured on a property’s website for each available floor plan. It signifies the initial cost that encompasses rent alone, excluding any potential upgrades, utility expenses or additional fees.
What is the method for calculating the base rate?
The determination of the base rate typically hinges on two fundamental aspects: the property itself (encompassing factors like location, amenities and age) and the specific floor plan selected by the tenant.
For those opting for traditional housing arrangements, such as houses or standard apartments, the base rental rate is computed for the entire apartment. This implies that all roommates collectively enter into a single contract with the landlord, sharing equal responsibility for the monthly rent throughout the lease. The division of the rental rate among roommates becomes their mutual decision.
Conversely, if you choose student housing, you’ll sign an individual lease or a “by-the-bed lease.” Under this setup, each roommate assumes responsibility solely for their designated room (or bed) and the shared communal spaces. Unlike traditional leases, individual leases in student housing mean that each student signs a personal lease and pays their rent separately to the landlord. The online-listed base rate represents the rent amount each individual will be accountable for before any supplementary fees.
Read Next: Student Apartments vs. Traditional Apartments: Which is Right for Me?
Each floor plan exhibits a distinctive base rate, contingent on the unit’s bedroom and bathroom configuration. In the realm of by-the-bed apartments, every bed or bedroom carries its individual base rate. Certain features tend to elevate the base rate, including:
- Furnished apartment
- Balcony
- More windows
- Higher floor of the property / premium views
- Ensuite bathroom
- Washer and dryer in the unit
- Fewer bedrooms per unit (studio, 1×1)
Conversely, factors contributing to a lower base rate typically involve:
- Double occupancy (shared bedrooms)
- Shared bathrooms
- More bedrooms per unit (5×5, 6×6)
Rambler Atlanta representative living room rendering.
Some properties may incorporate additional factors into their base rate calculations, beyond those mentioned earlier. For instance, at Rambler Atlanta, our base rate encompasses cable, high-speed Wi-Fi, a wall-mounted smart TV in every unit, along with the provision of furniture and washer/dryers.
What makes up the total monthly cost?
The total monthly cost reflects the actual amount you will be invoiced each month, comprising the base rent along with any additional fees. Some of these factors, like utilities and renter’s insurance, are obligatory, while others, such as parking or pet rent, can be tailored to your specific needs.
Additional fees may encompass, but are not restricted to:
- Utilities
- Rental insurance
- Parking
- Trash
- Wi-Fi
- Cable TV
- Pet fees
- Technology packages
- Security deposit
- Apartment upgrades
It’s crucial to note that certain apartments may integrate some of these add-ons into their base rent, while others do not. Each of these supplementary costs can accumulate swiftly, with pricing for each fee varying across different properties. Therefore, conducting thorough research on the potential costs at each property is essential before making assumptions about the relative affordability of one property over another.
Total Monthly Cost vs. Base Rate
Now equipped with an understanding of the disparity between the base rate and total rate, let’s delve into the transformative effect of considering pricing holistically.
| Base Price | Utility Estimate | Additional Fees | Total Estimate | |
| Property #1 | $1,460 | $30 | $5 Trash | $1,495.00 |
| Property #2 | $1,395 | $80 | $45 Recycling Fee | $1,520.00 |
As you can see, a property with a lower listed rental rate may not necessarily be the most cost-effective option when evaluating the total monthly cost. This holistic perspective allows for a comprehensive comparison of prices from one property to another.
We hope this article has helped your understanding of how to navigate and compare prices effectively. If you’d like further clarification on apartment pricing or wish to explore the costs associated with living at Rambler Atlanta, please reach out to our leasing staff. We’re here to assist you in your search for housing!
