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Why should I use Grad Properties?
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1) Our service is built entirely around the needs of Northwestern graduate students.
2) All of our associates are fellow students, alumni or spouses of Northwestern or people who have gone through the Evanston relocation experience, US and international alike.
3) We walk you through the whole process - end-to-end.
4) Our service is free - landlords and property managers pay our fees. |
| When is the right time to start looking at places? |
Rental communities offer pretty aggressive promotions that go away quickly as they start to fill up right before Sept. |
| What is the process to secure a place? |
You must fill out an application, pay an application fee, provide your background info and sign the lease. |
| What documents do we need to bring along to close the deal once a suitable apartment has been found? |
All landlords request more or less the same documents. You should have a picture ID (a passport is fine), your letter of acceptance to Northwestern and a bank statement or a loan letter to show where the funds for the rent will be coming from. Some property owners will ask for references from your previous landlord and employer.
Once you fill out the application, you will need two checks – one for the application fee (this varies, but usually runs between $35-$150) and the other for two months’ rent ( the first month’s rent plus the security deposit). |
| How long will we need to look at all the places? |
We filter out the properties you don’t like before you come and hit the ground running when you get here. All we need is one morning or afternoon to see 6-10 properties, often multiple units in each building. |
| Can I do a 9 month lease? |
Landlords don’t like this. But, it’s easy to find subletters, especially when you. advertise on our classifieds. Students are always coming and going, so it should be easy to find someone to take your place for 3 months. |
| Are there any furnished apartments? |
No, but it is very easy to buy “furniture packages” from the students that are graduating. Check out our free classifieds. |
Do I need to come to Evanston to look at places?
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We help a lot of people find homes remotely, using our “virtual” resources – phone, fax and e-mail. Check out http://www.gradproperties.com/nwu/approach.php |
| I have a dog or cat. Is this a problem? |
Some properties take them, some don’t. In Evanston, 40 lbs is the usual threshold for dogs. Our website indicates which RCs take dogs. IRs depend on the individual owner, but it is easier to obtain exceptions. Typically, with an extra deposit fee or rent, you are able to house your pet. |
| What is the home-hunting process like for an international student? |
Most international students use our virtual tour service. We help many people find homes remotely using our “virtual” resources – phone, fax and e-mail. Check out http://www.gradproperties.com/nwu/approach.php. Graduate students are desirable tenants, so it shouldn’t be hard to find housing. |
| When we start narrowing down the list to specific units, will you be sending me pictures and/or layouts of the actual places that fit my criteria? |
Yes. There is a lot of info on our website as well. If you are not coming to Evanston, we give you a “virtual” tour of the properties by sending you plenty of pictures of the units. |
Is there any information that you could send me on the different neighborhoods of Evanston? I would like to get a feel for the city before I move.
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Sure. Check out http://www.gradproperties.com/nwu/evanston.php or go to the Evanston page on our website. Also, we would be happy to refer you to resources that you can access online.
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| What are the pros and cons of doing a 1 yr vs 2 yr lease? |
It all depends on what your landlord intends do with rental rates next year. If they are going to raise them, then signing a 2 year lease will guarantee you the same rent for your second year. At the same time, it will guarantee the landlord that he will not have a vacancy and will save him some marketing expenses, so you might be able to negotiate some concessions. This varies by landlord, property and time of the year. Our experience is that very few students want to go through the process of moving after their first year, so if you feel good about the place you are taking, it might not be a bad idea to do a 2 year lease. |
| What is the difference between an independent rental and a rental community? |
An independent rental is a unit that is individually owned and rented by its owner. Renters are much less transient. The places are designed to be longer term homes, so they usually have nicer finishes and features. The units vary by owner and building. Processes, procedures and policies vary greatly by landlord.
In a rental community, all the units are rentals, and the building is managed by a property manager. The residents are much more transient, and the units are cookie-cutter. They usually have a price list and pretty defined processes, procedures and policies. |
| What is the difference between McManus and renting my own place? |
Based on feedback from our clients, the biggest advantages to McManus is that the units come furnished and they allow 9-month leases. However, prices are quite high, and you get more for your money when renting your own place. You can get a very nice rental for the same price. You can obtain furniture from graduating students, who usually sell packages at reasonable rates. Please see our free classifieds, where you can also find someone to sublet your place for the summer. |
| What can I expect my utilities to be? |
From $15-$100/mo. |
| What are the housing requirements to be able to park on campus? How much does it cost? |
You must live outside Northwestern's walking zone (noted on rental properties map). The annual cost is around $350.00 a year. Students are required to bring a valid WILDcard, Driver's License, vehicle registration and current housing contract when they apply for parking. |
| What is a feature? |
Items that are part of the apartment itself: microwave, dishwasher, fireplace, etc. |
| What is an amenity? |
Items that are part of the apartment complex: a party room, pool, gym, coffee shop, etc. |
| What's the best time to move in? |
It is good to move in a week or two before your classes start. That way, you have plenty of time to get unpacked, get your books and learn your way around. |
| What is difference between on-campus graduate housing and renting my own place off campus? |
The best way to decide if you are going to live on campus is to eliminate your off-campus options first.
For the same price as on-campus housing, we can show you properties with comparable location, extra apartment features and spectacular amenities. It is definitely worth your time to contact us. |
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| Why should I consider buying? |
• Build equity while at school
Rather than pay rent and help your landlord build his equity, make your monthly payments go towards paying off your mortgage and building your own equity.
You also build equity as your property's value appreciates.
• Tax deductions
Rent is not deductible, whereas mortgage interest and property taxes are.
• Today’s rates
Interest rates are hovering near 40-year lows. As rates (and rents) go up in the future, your monthly payments will be locked in at today’s rates.
• No capital gains taxes
If you live in your property for at least two years, you will not have to pay capital gains taxes when you go to sell.
• Colfax Realty can help with the next phase
If you decide to rent your property when moving or upgrading, Colfax Realty can market, lease and manage your property for you. Or if you decide to sell your property, we can help every step of the way. |
What is the Evanston market like?
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It depends on the neighborhood in which you buy. You should contact a Housing Advisor to learn about the various deals available. |
| I am an international student. Can I buy? |
Yes. Very good financing is available for international students. |
| How do I know what the mortgage rates are? |
Mortgage rates are linked to different factors. For example, some rates are determined by the yield for the 10-year treasury bill. Home sales/purchase activity is directly tied to mortgage interest rates… The lower they are, the more people buy and the faster properties appreciate. The higher rates get, the more people rent, causing properties to appreciate slower (and the rent market strengthens, causing rents to go up). |
| Why should I use a Housing Advisor to find my place? |
Since the commission for the sale of a property is almost always paid for by the seller regardless of who the buyer is, buyers are able to get invaluable assistance and information from our Housing Advisors at reduced costs. It is for this reason that the vast majority of home buyers employ the services of an agent or housing specialist for their purchases. In addition, since most places are listed by real estate agencies, buyers are able to view and consider many more properties. We specialize in helping graduate students with their housing needs, so we can answer questions that are specific to your situation. |
