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Lakewood Apartments For Rent

Lakewood, Ohio, is a suburb of Cleveland and an integrated part of the greater Cleveland metropolitan area. As such, Lakewood's prosperity is completely dependent on that of the greater metropolitan area. However, although the entire area has been in decline throughout the last couple of decades, Lakewood itself has continued to renovate and develop itself.

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The entire downtown area has seen a wave of new developments and renovations of older buildings even in the middle of the current recession. Inside Business magazine awarded the city's government for its effective economic development efforts in 2009 and the redevelopments appears to be paying off: In 2010 Business Week named Lakewood one of the Best Places to Raise Your Kids.

Apartments have been a prominent feature of Lakewood since the 1920s, and have continued to play a pivotal role in the local economy. Today more than half of the residents of Lakewood rent their homes, mostly apartments. The majority of apartments rent for less than $600 per month and the current Fair Market Rent (as determined by the U.S. Department of Housing and Urban Development) goes from $526 per month for a studio to $1,001 for a four bedroom apartment. These rents are significantly lower than one would find in many parts of the Cleveland metropolitan area.

Ohio state law does not set any minimum required information for leases, so it is very important renters to carefully review their lease before signing it. Even little matters that one automatically assumes should be in a lease are not required by law, so it is up to the consumer to ensure that the agreement is appropriate. For example, the date on which the rent is due usually the first of the month is not required to be in a lease, which could lead to significant problems and conflicts. Renters in Ohio should not automatically assume that any given lease contains everything you have agreed to or that any lease is like any other.