What are the Drawbacks of a Co-Op Apartment? from David Dean's blog

There are a lot of choices that you can make when it is time to move into a new home. You can choose to go with a traditional apartment and have the landlord take care of it. You can choose to purchase your own home and have that as your own as you build up some equity in the property. Or you can choose to go with a co-op apartment. These are a little bit different, but a lot of the people who choose to go with them will love the flexibility, the fact that they can own something, and the smart investment.

While there are some benefits to choosing to move into a co-op as your next home, there are also some drawbacks to consider before you jump right in. Some of the drawbacks of a co-op apartment include:

# The hard application process: This is enough to turn away a lot of people. The co-op is going to be very picky about who they allow to move into the property. You will need to go through a detailed process that includes an application, financial disclosures, personal references, and then they will need to complete an interview with the co-op board. This process can take a long time and most people don’t want to deal with it.

# Limited individual control: You have to make decisions with the rest of the board to get anything done. You can’t make any individual decisions when this happens, which can be hard for a lot of people who are looking for a new home. If you don’t mind sharing decisions and working as a group, then this is not going to be a big deal.

# The monthly fees: Not only do you need to buy into the co-op and have shares in it, you will need to pay a monthly fee in order to call it your home. This can be frustrating for those who are looking to find an affordable place to call their own.

A co-op apartment can be a little bit different compared to what you would find in a traditional apartment. If you do not want to deal with the hassle of voting and owning a co-op with other people, then renting an apartment is the right choice for you. We are excited to show off some of our apartments for rent in downtown LA   to make sure that you are able to get the space of your dreams. The amenities, the location, and all of the features will draw you in from the very beginning. Contact a member of our staff today to schedule your own tour and to learn more.