Advantages & Disadvantages Of Renting

​Renting business is best for those peoples who cannot afford to buy a new home or require freedom & flexibility, or move ahead from one destination to another. Same as buying, renting has also a numbers of advantages and disadvantages, here are some of the following:
 
Advantages of renting of rental property
 
·        Not need loan
In renting, you don’t need to apply for any loan, because you don’t need to buy anything or even banks also don’t have any availability of loan on renting. 
 
·        Flexibility
Renting allows you more flexibility of changing the location, this is good for those who will like to move place to another and also for those who have lots of transfer in their job profile.  Renting will not requires any long term commitment for staying at one place from renting side. It will allow you move on from one place to another place.

·        Budget
As a renter, if you really want to live in those locations which surrounded by lots of amenities, but you don’t have enough budget to buy a property, in that case renting is affordable to own a home for short term.
 
·        Easy to move out
Leaving home is easier for renters than the homeowner, move out from rental property is much easier and to get in is also much easier, but as homeowner it is more difficult to find the new home for purchase and lots paper work have to be done to move in.
 
·        Savings
After payment of rent, renters have additional money which can be uses to invest anywhere; it is saving towards buying a property or investing in stock market, etc. Renters will not take worry about additional funds into a home loan.
After knowing this you can consider renting properties with positive effects.
 
Disadvantages of Rental property
 
·        Agreement
A renter has to sign an agreement which bound them from the freedom to use or renovate the rental property.
 
·        Permission
You have to take permission from landlords to make any kind of changes in rental property. You cannot do it as your wish, because you own a house for short term and you are not the owner. If you done that without taking permission from landlord then you violate the agreement.
 
·        3rd person
If you deal with 3rd person to get the rental property, then you can take long time to resolve the issues. When real agent involves between renter and landlord it will take time solve the issues between both of them.
 
·        No guarantee
There is no guarantee that the lease will renew when it expires, so it is better to find new rental property when your lease agreement will be going to expire.
 
 
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