General

  • General

    Car Rental Drop Off Fees: All You Need to Know

    Car Rental Drop Off Fees: All You Need to Know

    There are various complicated processes involved in car rentals and the fees involved as well.

    According to users on UK.collected.reviews, when getting a car rental service, always note that there are varying fees that add up to the fee you are charged. Some of it includes state or city taxes, the company’s fee, sub charges and facility charges including vehicle licensing fee.

    When looking to rent a car, money management companies advise that you review your contract, take note of and understand all the charges you could be possibly billed. Ask about some of these charges before signing a contract to make sure it’s in your favour.

    Here are some of the types of car rental fees.

    1.       Early Return Fee:

    There is a stipulated amount in your contract that you will have to pay if you return a car earlier than the date written on your contract. Some car rentals charge as little as £10.

    2.       Late Return Fee:

    This is also applicable to turning a car in late after your scheduled date. This usually attracts an even higher fee. In case you are looking to extend your use of the car, make sure to call your car rental company for extensions privileges to avoid late return fees.

    3.       Refuelling Fee:

    Before you are given any rental car, the company makes sure the fuel tank is filled. Returning this car also requires that you fill it back up. This is usually written in the signed contract. Also, car rental companies will often ask to see the receipt of your fuel purchase. Failure to provide the receipt will also attract a fee.

    4.       Frequent Traveler Program Fee:

    Many car rental companies have a stipulated mile you can drive the car to. Exceeding this is defaulting to the company’s contract. If you are looking for credit on a frequent traveller program, there’s a stipulated little fee to pay for this privilege.

    5.       Lost Key Fee:

    When you lose a car rental key, you will be expected to pay for its replacement. The charges are often higher when the key in question is smart. You could end up paying a little over £180.

    6.       Cancellation Fee:

    When you rent luxury or premium cars, the car company will ask you to guarantee the reservation with your credit card. Make sure you know how far in advance about the cancellation of a reservation if you change your mind about renting the car. Not knowing this will attract extra charges because some rental companies will charge a cancellation fee if you cancel after the deadline.

    7.       Car Damage Fee:

    Ruining a car rental requires that you pay for the damages caused by the car. For some companies, there’s a fixed price but for some others, the price ranges depending on the level of ruin.

    There are many car rental fees. Most of them you might not even know of, but following through with your contract will let you in on them.

  • General

    South Boston Seeks To Reclaim Title As Boston’s Toughest Apartment Rental Market

    South Boston Seeks To Reclaim Title As Boston’s Toughest Apartment Rental Market

    After a brief apartment supply surplus in South Boston, it seems like it’s back to business as usual for one of Boston’s scarcest rental markets.  Since jumping to a decade-high 2.82% in September of 2020, the vacancy rate for South Boston apartments has trimmed back down to its fighting weight-class, a slim 0.81%.  That marks the second lowest vacancy rate in all of Boston’s metro behind surprise contender Roslindale (0.73%).

    Southie has been the stalwart of the Greater Boston rental market for nearly a decade.  During that time South Boston saw arguably the lowest apartment turnover in the City.  That was coupled by steadily increasing housing demand as Southie became widely enamored as the heart of Beantown and the embodiment of its blue collar grit.  The only thing tougher than South Boston was finding an apartment to rent there.

    So forgive us, Southie, if we questioned your dominance when the vacancy rate hit its highest point in years in September of last year.  And we pray you can forget that we almost gave up hope when it surged even higher to 3.48% in January of 2021.  And now we raise a glass to celebrate your return to supremacy as Boston’s toughest rental market (behind Roslindale).

  • General

    Charlestown Apartment Vacancy Rates

    Charlestown Apartment Vacancy Rates

    Charlestown is a historic town neighborhood in Boston, that in fact is the oldest neighborhood in the city. Like pretty much all of the neighborhoods in Boston, the rental market in Charlestown has experienced tough times due to the arrival of the COVID-19 pandemic. In this particular article, we are going to be talking mainly about the vacancy rates (RTVR) and availability rates (RTAR) in real-time for Charlestown apartments.

    Charlestown YOY Vacancy Rate Change Among The Worst In Boston

    The average RTVR in all of Boston was +121.05% while the RTAR was +78.89% in year-over-year change. The City of Boston registered an RTVR of +144.74% and an RTAR of +87.63% while the Boston suburbs had lower metrics of RTVR of +88.74% and an RTAR of +61.32%.

    However, the YOY RTVR and RTAR were much higher in the neighborhood of Charlestown, at +223.81% and +363.49%. To put this into contrast, Charlestown has the 3rd largest increase in RTVR and RTAR. In the RTAR metric, only the neighborhoods of Downtown and West End had a larger increase at +724.64% and +803.37%. On the other hand Downtown at a rate of +1232.99% and Allston at +425%, were the only two neighborhoods that experienced a steeper increase in RTVR.

    What is interesting is that Downtown has a fairly similar average rent to Charlestown at $2,840 compared to the latter’s $2,786. However, the neighborhoods of West End and Allston have much lower average rents of $2,362 and $2,470. From this, we can gather that Charlestown may have performed better over the past year in the RTAR and RTVR figures in comparison to much cheaper districts. Yet, at the same time neighborhoods such as Beacon Hill at $2,813 had a slightly lower increase year-over-year in both RTAR as well as RTVR.

    The high rent prices found in Charlestown have meant that there have been a higher number of vacancies due to the increased difficulty for people to pay their monthly rent. This will most likely be a short-term business climate, and prices, as well as RTVR and RTAR, will recover as Charlestown is a historic inner-city neighborhood that is high in demand.

    Here we are going to compare six neighborhoods with similar RTAR and RTVR year-over-year metrics so that you can better understand the performance of the rental market in Charlestown:

    1. Charlestown

    Average Rent: $2,786

    RTAR Change YOY: 223.81%

    RTVR Change YOY: 363.49%

    2. Beacon Hill

    Average Rent: $2,813

    RTAR Change YOY: 180.20%

    RTVR Change YOY: 290.74%

    3. Downtown

    Average Rent: $2,840

    RTAR Change YOY: 724.64%

    RTVR Change YOY: 1232.99%

    4. Fenway/Kenmore

    Average Rent: $3,048

    RTAR Change YOY: 184.35%

    RTVR Change YOY: 292.77%

    5. Allston

    Average Rent: $2,470

    RTAR Change YOY: 120.85%

    RTVR Change YOY: 425%

    6. Allston/Brighton Bay

    Average Rent: $2,349

    RTAR Change YOY: 111.03%

    RTVR Change YOY: 200%

    Excess Apartment Inventory Has Led To A Decrease In Charlestown Rent Prices

    The average rents compared to the previous year on average dropped by -3.53% in all areas of Boston. This can be broken down further to -3.74% in the Inner Boston areas and a -2.81% decrease outside of Boston. In the Charlestown neighborhood in particular there was a change of -3.72%.

    There were major increases in the number of Charlestown apartments, such as a +7.37% increase in the Studio category, a +4.08% change for the 3 Bedroom apartments, and a +4.46% change for the 5 Bedroom apartments. However, all of this was made meaningless due to a massive -27.83% drop in the 4 Bedroom category, there were also decreases in 1 Bedroom at -6.65% and 2 Bedrooms at -3.73% compared to the previous year.