home renting simply refers to opting to occupy an already built home instead of building one. The terms and condition in house renting require one to pay rent at a given time of the month or year as per the agreement. 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. in the current times, peoples prefer home renting to home buying in order to take advantage of the less cost inquired. 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. example of such home owning cost include insurance and real estate taxes.
House renting has proved to be advantageous in various ways in that they post more benefits than drawbacks. To start with, hose practice is cost efficient as one does not inquire the cost of repair and maintenance. 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 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. The given examples are very expensive to install in case of house owning and are offered for free when it comes to home renting.
The next advantage of home renting is concerned with how inexpensive the method is in terms of real estate tax. Real estate tax are heavy taxes charged by the state to house owners who occupy a certain region in the country. Real estate tax is must to all individuals owning property in a certain locality and it is levied by the government. 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 renting provides an advantage as the burden of depreciation is transferred to the land lord. Home renting has posed more advantages and thus highly recommended as it is effective.