There is lots to love about renting a house that costs next to nothing. Just figuring out how to rent a house within your price range usually starts with looking at listings and determining your financial budget. Then making a list of all the must have amenities and concluding how much you can afford to pay each month. Once you have located your dream house, prepare to negotiate rent terms and sign the contract.
One of the most obvious pros to renting rather than buying an apartment is that it saves you time and aggravation. You can literally get a hold of your rental application and pre-approval paperwork in a matter of days. Renting also saves you money, which is another one of the obvious pros. In addition, you don’t have to deal with utility bills, property maintenance fees, taxes and maintenance. The only costs that are usually involved when renting repairs, some cleaning and some routine maintenance. There are some apartment communities that charge a small annual fee for all of these services.
Another pro to renting rather than purchasing an apartment is that there are always plenty of apartments available. Unlike buying a home, it is very easy to find a good, reasonably priced apartment. If you want to rent a house, you usually have to search for months, sometimes years, to find a unit. The rental market is very competitive and you often have to wait for an entire building to be vacant. In comparison, there is usually a great deal of inventory in apartment complexes, so they are usually less expensive to rent than houses.
Perhaps the biggest benefit of renting rather than buying is the tenant. Most tenants are very understanding and are generally willing to rent just about anything. In fact, many people would rather pay rent than pay all of the associated costs to rent an apartment, such as utilities and maintenance. It is usually the landlord’s responsibility to maintain the building, but this cost is included in the tenants’ rent, which means that the tenant gets a break even in this area.
Tenants have some of the best protections available to them under the law. Landlords can evict their tenants for almost any reason. This is because section 8 prohibits landlords from discriminating against their tenants. Tenants have rights to quiet enjoyment and privacy, and they are protected by the right to quiet possession. A landlord cannot enter a tenant’s dwelling without first obtaining consent from the tenant.
An important benefit of renting rather than owning a rental home is that the tenant has few, if any, responsibilities towards the property. Tenants are solely responsible for providing the apartment with electricity, plumbing, and any other services. They are also responsible for maintaining the property and keeping it clean. Tenant renters have the right to change the locks, to keep the apartment secure and safe, and to smoke indoors.
Because most tenants pay rent monthly, landlords often find themselves with less money to do many things, including hiring extra staff and renting out additional space. As well, section 8 protects landlords from paying taxes on properties that remain unoccupied for an extended period of time. When this happens, the state government picks up the tab. The result is a loss of revenue for the local community and the possibility of a tax increase at the end of the year. While this is the worst possible thing that could happen, it does happen, and section 8 eviction procedures are specifically designed to prevent it.
If you’re thinking of renting an apartment, it’s important to know and understand the laws that apply in your particular area. Once you receive the notice of eviction, you have up to a week to respond. By completing the required tenant screening reports and avoiding any other actions that could jeopardize your chances of avoiding eviction, you can protect your rights as a landlord and your investment in the property.
