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. This agreement is governed by terms and conditions which govern the amount payable, date of paying rent and compensation in case properties in the home are destroyed. It has become a trend for individuals to adapt to this method of home renting as it is cost effective and efficient. individuals working away from home or those always traveling have record maximum utilization of this program. 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. example of such home owning cost include insurance and real estate taxes.
House renting as an alternative of home owning has posed more benefits which include cost and availability of expensive luxuries. The first benefit associated with home renting is that of evading the cost of repair and maintenance. As we all know, properties are all subjected to damage and regular maintenance which interns inquires a cost. In the home renting agreement, it is agreed that the cost of maintaining the home and other repairing cost is to be catered by the owner and this makes the method cost efficient. Expensive luxuries are available in case of home renting and which would tend difficult to install in case of home owning as they are very expensive. Saunas, swimming pools and fitness centers are good given example of facilities offered in home renting. Such amenities are very expensive to install to a house owner but are offered for free in the case of house renting.
The next advantage of house renting revolves under cost as it is interns of real estate tax. Real estate tax is a cost inquired by house owners to the government for being in procession of properties especially buildings in a certain locality. The payment of real estate tax is compulsory and evading it is taken as a crime punishable in a court of law. hose renting proves another advantage compared to house owning as those under home renting do not inquire real estate tax which is a must as per laws of the country and failure to do so amounts to prosecution. another recorded advantage of home renting involves evading costs related to depreciation of properties in the home. depreciation refers to properties loosing value with time, such property include vehicles, buildings and equipment. Home renters are saved from this burden which reduces the value of properties as time goes by. Home renting has posed more advantages and thus highly recommended as it is effective.