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. the agreement under home renting contract is very specific about the amount payable and if any amount is payable in case of damage of resources and properties. Currently people prefer to rent a home than build one as renting tends to be cheaper than constructing. Home renting procedure has proved beneficial for individuals who are always away from home such as travelers and those working away from home. Among those in the population who have utilized this procedure include students and industrial workers who cannot afford the high cost of owning a home. Such costs include insurance and real estate taxes.
House renting has proved to be advantageous in various ways in that they post more benefits than drawbacks. The first advantage recorded and confirmed by those practicing home renting is that one does not inquiry maintenance costs and repair bills. Property are subjected to damage and this cannot be avoided under any circumstances. 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 when using the home renting procedure is access to amenities that would be very expensive in the case of buying a home. a good given of these luxuries include swimming pools,saunas and fitness centers. 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 are heavy by the government charges posed to house owners by the government. This heavy charges are compulsory and evading them is recorded as a crime. 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. Another advantage of home renting involves evidence of the principle of depreciation. 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.