- Real Estate
PangeaRe Real Estate, Rentals for Low-Income
Are you Getting the Sweet Deal with PangeaRe Rentals?
PangeRe has quickly grown from an unknown real estate company to a major player in the real estate game over the past 8 years. In Chicago alone, a majority of rental properties for 1 and 2 bedrooms are leased under PangeaRe. If you’re lucky you just might find 3 bedroom apartments or townhouses, and landing the lease signing is usually a piece of cake.
Often all is not what it seems when you think you’re landing a sweet deal. In this hubpages blog, you’re going to read the Pros and Cons to Pangea apartment’s rental, so you can judge for yourself if Pangea rentals are right for you and your family.
The majority of PangeaRe rentals although located throughout Chicago, are mostly on the South and Westside. On several blocks, you’ll find 2-3 PangeaRe buildings located right next door to each other. They’re placed within high crime areas. The advertisements of Pangea rentals are excellent, attractive and highly convincing, as should be. For many, they’re convincing enough to pack up and go Pangea.
Pros and Cons of Renting PangeaRe
- $200-$300 move-in fee
- No security deposit
- Rentals are usually available within 1 week after lease signing
- Hallways are clean
- Garden areas in buildings are nicely kept
- Credit check is a breeze as long as you can show proof of rent affordability, usually 3x the rent, or government assistance proof
- Electronic door buzz for most buildings
- Individual mailboxes with keys
- Pest Control servicing
- No security deposit means you receive nothing when moving
- $20-$30 late rental payment fee
- $300-$500 for accidental incidents with minor damage (flood, hole in wall, carpet stain, broken door handles etc.)
- Not able to directly contact property managers when needed
- Long wait times in rental offices
- None issuance of bonus rent credits after you’ve met the qualifications of at least 2 years residency
- No updates to apartments such as fresh paint, or additional servicing after have lived in Pangea rental for over 3 years
- Pest control may skip many apartments
- Having to purchase cable and landline servicing through Comcast or incurring a $200 fee for choosing other cable servicing
- Unexplainable fees
- No security, risk of packages being stolen, or break-ins (fake security cameras or signs stating building under surveillance)
- No background checks performed on residents
- Property management disrespect
- Paying a percentage of water bill in apartment
High Rent and Comcast Cable
PangeaRe is smart about making their money, especially through their Comcast cable contract. They’re paid a percentage of your bill to Comcast, and Comcast servicing is forced upon Pangea tenants. Comcast does not have an excellent reputation currently. They’re involved in a class action lawsuit for misleading practices. Their cable signals drops consistently several times per day, and entertainment package deals are quite expensive with add on fees.
Add Comcast to PangeaRe high rental prices and you’ve definitely got a problem. PangeaRe 1 bedroom apartments on the Westside of Chicago alone have starting rental rates of $750, affordable if you’re receiving government assistance, but way too high for a 1 bedroom apartment within the neighborhoods in which they’re located. Background checks are not often performed, which leads to unruly neighbors, and drug selling within several PangeRe properties. Definitely not safe places for children.
Pest Control PangeaRe Style, Resident Tells All
Pest Control is not adequate about performing as should on scheduled days of servicing. It’s been reported by residents, they do skip apartments. This leads to rats, mice, and bed bug problems tenants have filed complaints for. One tenant stated she had to throw away brand new and quite expensive furniture due to infestation. PangeaRe compensated her, but the problem still exists within the building she resides in. She’s in a 2 year lease, currently trying to get out.
As a resident, you will never meet the owner of PangeaRe Company. You will only have access to complaints through assigned property managers. In fact, from what we’ve heard, the owners are a big mystery. Many residents want to meet the PangeaRe Company owners to voice their rental concerns, just not quite sure the owners want to meet the PangeaRe residents. PangeaRe is a rent at your own risk, it just might be right for some, while not such a great choice for others. Weigh your rental options, do research before signing any lease. Rent smart, not spontaneously!