This refers to occupying a home for a given time and paying a fee for your stay. This agreement involves the payment of a particular amount of rent at a given date. 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. 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. This trend has mainly been put into practice by mainly scholars and industrial employees who are unable to build a home due to costs involved. 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. During the initiation of home renting contract, it I agreed that maintenance and repairs are to be catted for by home owner and by this, cost is reduced. 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. Such amenities are very expensive to install to a house owner but are offered for free in the case of house renting.
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 recorded advantage of home renting involves evading costs related to depreciation of properties in the home. Properties such as buildings, vehicles and equipment are all subject of depreciation i.e. loss of value with time. Home renters are saved from this burden which reduces the value of properties as time goes by. 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.