Bungalow, a new real estate company that leases homes and apartments from homeowners and then rents the individual rooms and living spaces out is now available in Chicago. Currently, Bungalow has rooms for rent in apartments and houses in Wicker Park and Bucktown and will expand throughout the city in the upcoming months.
How Bungalow membership works
Bungalow signs leases with homeowners who have vacant houses and apartments. Bungalow then rents out the private rooms and living spaces to young adults looking for more affordable renting options in the city. Homeowners do not have any additional expenses. Homeowners receive their rent payment from Bungalow and do not have to interact with the tenants Bungalow has rented the individual rooms out to.
Amenities included in every Bungalow home include:
- custom designed interiors with the ability to decorate however a renter wishes
- kitchen essentials including basic cookware
- flexible leasing ranging from four to 18 months
- smart televisions in share living spaces
- private bedrooms
- ability to leave with 30 day notice
If someone is interested in renting a room through Bungalow, the application process can be completed entirely online. After visiting the living spaces for rent, the renter is sent an application which will require a credit score, proof of income, and rental history. After a room is rented out, Bungalow conducts a series of interviews for the remaining available rooms to make sure roommates are a good fit with one another.
Renters who use the service are charged a membership fee which used to pay for utilities, WiFi, cleaning services, and events hosted by the real estate company. Move-in costs are the security deposit which is a month’s rent without utilities and a full month’s rent with utilities.
Utilities are included with rent for an additional fee. Utilities include:
- Energy Bill
- Trash and recycling
- Monthly cleaning service
Renters insurance is not included with rent or as part of the utilities fee. In order to protect their personal belongings, especially when living with roommates, renters will need to purchase an affordable renters insurance policy.
Bungalow is available in eight major U.S. cities, including the Bay Area, Los Angeles, New York, San Diego, Seattle, Portland, Ore., and Washington, D.C.