The first factor is the quality of the building and unit. This includes the size of the house and lot as well as the overall look, dexterity, craftsmanship, and stability of the building. Larger spaces typically cost more, as do luxuries like granite counters and custom cabinetry. When looking at an apartment or condo that you’re considering purchasing, ask yourself whether this is a unit that potential tenants will be attracted to.

The other critical factor in determining price is the location of the unit. Apartments in Orange County, CA will be much more expensive, regardless of the quality, compared to apartments in the middle of Nevada. Apartments and condos in prime locations may cost more to purchase, but you’ll also draw more tenants and at a higher price. Buying an inexpensive apartment in the middle of nowhere could be a smaller risk, but you will probably end up biting the bullet because nobody wants to stay there.

So when you’re looking for a solid investment opportunity, don’t forget to consider buying and renting apartments and condos. Just be sure to consider these factors when deciding how much to pay, and how much to charge.

When you’re looking at an apartment you need to make sure that all of the appliances are in working order. If one of the appliances isn’t working bring it to the attention of the person showing you the apartment. You’ll also want to check out the sinks and bathtub in the apartment. Make sure that all work and the there are not any major cracks anywhere. You might also want to turn on the hot water to see how long it takes for the water to heat up, as well as check for water pressure. At the same time you can see if any of the drains are clogged and will need a plumber’s attention in the future.

As you’re coming and going into the apartment check out the condition of the building, including the locks on the door of the apartment building and on the door of the apartment that you’re looking at. You want to rent in a building that offers you security and ease of mind. Take at look at the electrical outlets in the apartment. You want to make sure that there is an adequate amount of outlets available for all your appliances, lamps, and electronics. Be sure to ask lots of questions before you make the final decision to rent an apartment.