home renting simply refers to opting to occupy an already built home instead of building one. Payment of rent under this contract involves having no variation of the period. 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. 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. home owning has additional costs compared to house renting as insurance and real estate costs are evaded.
the program of home renting has posed more benefits than home owning. 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. Such amenities available in home rentals are luxuries such as swimming pools, saunas and fitness centers. the facilities mentioned above are very expensive when it comes to home owning but easily accessible to those under home renting program.
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. 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 advantage of home renting involves evidence of the principle of depreciation. Most properties are subjected to depreciation which refers to loss in value as time goes by. Home renting provides an advantage as the burden of depreciation is transferred to the land lord. 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.