home renting simply refers to opting to occupy an already built home instead of building one. This agreement involves the payment of a particular amount of rent at a given date. under home renting, the amount payable as rent is very clear and constant as per the start of the contract and in ambiguities are involved. It has become a trend for individuals to adapt to this method of home renting as it is cost effective and efficient. This trend is very suitable for individuals who are always traveling and those working away from their place of residence. Individuals who can afford the cost of owning a home have utilized this available program to the level best due to additional costs associated with home owning. Such costs include insurance and real estate taxes.
the program of home renting has posed more benefits than home owning. The first benefit associated with home renting is that of evading the cost of repair and maintenance. In the utilization of properties, the aspect of damage is recorded and is recorded and cannot be evaded. in home renting, the agreement states that maintenance and repair costs of properties is to be catered by the land lord making this method cost efficient Another advantage recorded in home renting involves the availability of expensive luxuries which are very expensive to install in case of home owning. Saunas, swimming pools and fitness centers are good given example of facilities offered in home renting. The given examples are very expensive to install in case of house owning and are offered for free when it comes to home renting.
Home renting program is very cost effective as one does not inquire real estate tax. Real estate tax are heavy taxes charged by the state to house owners who occupy a certain region in the country. The payment of real estate tax is compulsory and evading it is taken as a crime punishable in a court of law. the advantage builds in to the home renders as they do not pay this tax compared to home owners, as per the home renting contract, this tax is supposed to paid by the land lord and failure to do so leads to heavy penalties to the land lord and not the individual renting the house. In home renting, one is saved from the burden of cost lost through depreciation. depreciation refers to properties loosing value with time, such property include vehicles, buildings and equipment. home renters are saved from the burden of depreciation. Home renting as described above has posed many advantages in relation to cost and thus it is advisable to try to fit in to this program instead of home owning or home building.