There are over 100 greater Ann Arbor apartment communities. These communities are made up of primarily one, two and three bedroom units. The range of prices and square footages vary greatly. The average rent for a one bedroom is $750.00/month, 2 bedroom – $1000.00/month and three bedroom $1300.00/month for a typical 12 month lease. The typical size can range from 700 – 2000 square feet.
The rental market in this area has been fairly soft although we have begun to see occupancy figures rise slightly. Note that the above figures are approximations. Many concessions are still being offered because the future of the market is somewhat unclear.
Ann Arbor also offers many privately owned single family homes for rent, as well as duplexes and condos. The general rule of thumb in figuring rental rates is approximately $1.00 per square foot. The size of the property can range greatly from an 800 square foot duplex to a 3000 square foot private home!
Unlike apartments, the lease term for private rentals is typically twelve months. Apartments offer more flexibility from furnished month to month corporate apartments to unfurnished short term leases. Many require a monthly premium for a short term lease. This also depends on market conditions and the time of year the lease is executed.
Furnished corporate apartments are the most flexible option in lease terms but can also be the most expensive. Corporate apartments are all inclusive with furniture, housewares, linens, utilities and local phone service being provided. The cost per month for this option is approximately $1500.00 – $2300.00 for a one or two bedroom apartment.
If you are interested in having a free personalized apartment search done for you, please call me at RentFAST, a division of the Charles Reinhart Company at (734) 669-5885 or visit our website at http://reinhartrealtors.com/rentals/apartments. I look forward to the opportunity to earn your business!
The Charles Reinhart Company, Realtors
Dave Lutton and I returned Friday from Breckenridge, Colorado, the site of the 2nd Active Website Enterprise Network Conference. Enterprise is an invitation-only private network of independent real estate brokers who share a website platform and collaborate on many other aspects of business operations. As the network grows, the number and quality of the participating brokers continues to increase the benefits of participating. Fourteen companies were represented from all corners of the country: The Group, Wright Kingdom, Ebby Halliday, Kentwood Companies, N.T. Calloway, Danberry Real Estate, Residential Properties, LandVest, Skogman Realty, Smith & Associates, Turpin Realtors, Milestone Realty Consultants, Star Real Estate and Charles Reinhart Co. Three other member companies were unable to attend.
The conference is an opportunity to discuss technology-based trends and best practices with some of the most forward-thinking independent brokers in the nation. Bill Tancer of Hitwise, one of the nations’ foremost data tracking companies discussed the importance of differentiating opinion from fact in order to make intelligent marketing decisions. Kramer Keller, of Tobii, introduced the new eye-tracking computer and software Active Website recently acquired to the Enterprise members. It will be used to analyze user habits and preferences and is expected to provide quantitative information on the strengths and weaknesses of the Enterprise websites. Jim Hall, of Waste Management, spoke on how to become more “green”, both in the way we operate our businesses and in providing high quality service to consumers interested in “green” living.
Tom Flanagan of Residential Properties outlined his successes with social networking and video. I spoke on the subject of the importance of the network.
It was an outstanding conference. The only problem is we came home with so many ideas it will be a challenge to prioritize them and dig in.
This year the need for food support in our area is greater than ever. Reinhart believes there is a role for everyone to play in the fight against hunger. Again this year the company is holding a food collection drive in which all agents, management and staff will participate. Last year vanloads of non-parishable items were donated to the Ann Arbor Community Center. This year the Food Gatherers will receive the donations. Reinhart is proud of the commitment our people make to serve the needs of Ann Arbor and Washtenaw County.
Reinhart’s 14th Annual Coat Drive will kick off Sunday, October 18. We’ll be collecting coats through the month of November, and will be distributing them to more than 20 area agencies that have indicated a need. Over the past 13 years, we’ve collected and redistributed nearly 12,000 coats! We’ll be assisted in our efforts by a number of area cleaners, including Capital Cleaners in Saline, Chelsea Cleaners, 1-Hour Martinizing and Gold Bond Cleaners in Ann Arbor. This year’s coordinating committee led by Jennifer Fry includes Susan Schmunk, Nadine Alpern, Carolyn Knaggs, Lisa Ridha, Susan Underwood, Margaret Delaney, Todd Lands, Greg Uihlein, Sandy Goetz, Rick Taylor, Martha Smith, Nancy Jenkins, Robyn Javornisky, Laurie Buys, Maria Wade and Dani Hallsell. Many thanks to each of them for helping to make the drive a success!
The Charles Reinhart Company’s 2009 United Way fundraising campaign runs from October 6th through October 31st. An e-Pledge system has been implemented this year in an effort to not only reduce paper usage and create a more efficient system, but to also reduce overall administrative costs, thus allowing more donor dollars to support our local community.
Many local nonprofits in Washtenaw County have been experiencing increased demands for assistance (reports of 20% to 60% more demand has been reported) while at the same time contributions from private donors and local governments have been shrinking dramatically.
Please join the Charles Reinhart Company, and make a difference in our community, by participating in the 2009 United Way campaign
If you’ll be cleaning out your closets this fall, bring those extra coats to Reinhart!
At the end of October, we will be kicking off our 14th Annual Coat Drive. This partnership between the public, the agents of Reinhart, and area cleaning companies has resulted in the redistribution of an astounding 12,000+ coats to local agencies over the past 14 years.
Throughout the month of November, please bring your winter coats that are in good repair to any Reinhart sales office or to any Reinhart Sunday Open House (locations available here on our web site). All of the coats will be then be professionally cleaned and distributed locally.
The need is greater than ever with over 20 area agencies awaiting coats from us. Some of the agencies that have received coats from previous drives include:
Ann Arbor Community Center
Crisis Residential Services
Faith in Action, Chelsea
Michigan Ability Partners
Peace Neighborhood Center
St. Andrews Breakfast Program
Saline Social Services
Shelter Association of Washtenaw
Women’s Center of SE Michigan
Thank you for your support of the 14th Annual Reinhart Coat Drive!
The Charles Reinhart Company, Realtors
Housing Prices Return To “Normal” (?)
Moody’s has identified the Michigan real estate market as one of several areas in the country that must have broken some double whammy real estate mirror and claims we’re in for another fourteen years of bad luck.
“Analysts say it will take more than 10 years” (‘After 2023’ if you live in Michigan) “to recapture peak home prices”
So, who sez getting back to pre 2006, top of the bubble home prices and hyper-appreciation is a good thing, anyway? Who is that good for?
Do we really need a 40% (Moody’s figure) recovery in home prices for life to be a LOT better, for an awful lot of people?
Once the widespread pain, blood letting and blame setting slows to a more normal trickle, a little stability and sustainability look pretty good from here in Ann Arbor, Michigan.
How about just a little pricing stability, and increased employment predictability to put people back to work and focusing on their business, their families, their homes and their communities – local and global.
For the Moody’s article click here.