In America, people usually want to settle down and with that, they are
under the burden of low earning and payments of loan debts. Due to all of these
reasons the alternative and the best solution is renting out a property. The
most practical and convenient way. Many people prefer renting the property and
homes over buying the homes. It costs low maintenance charges, low commitment
demands, and more flexibility.
Perks and Facilities
You may come across some tremendous perks and facilities if you rent out
a property. The facilities may include social gathering, sports clubs, bars,
swimming pools, and gyms. It depends that where you rent out the property and
what perks are included. Many landlords provide lots of facilities to their
tenants to retain them for a longer time.
- School programs for kids in the evening
- Some best storage options
- Business clubs with video-conferencing facilities
- Community gardens and lawns
- Concierge services
- Courtyards and playgrounds
- Gyms and spa facilities with personal trainers
- Sports complex with billiards and game tables
- Cocktails and coffee bars
- Movie screening rooms with theater seating
- On-site ATMs
- Outdoor fireplaces with seating areas
- Resident social gathering activities
- Swimming pools and snooker clubs
- Tennis courts and golf services
Location Flexibility
Renters are not bound to live in a
specific location. They can shift their homes as the economy shifts. Confused
you are? Let me clear you. See, if you are doing a job at one location, you
rent out the home at that location. Suddenly, due to some economic changes you
want to shift your job. Then it is very easy for you to change your location.
You can easily shift out to the new location, where you get the new job. If you
want to move early, you only have to a specific termination fee and you can
easily terminate your lease agreement. When you get a new job, 50 to 60 miles
away from the location you are currently living in. You can easily terminate
your lease agreement by paying a specific termination amount.
Social Gatherings
Social gatherings are very important to
these days. Many landlords provide you the facilities of social activities. All
the neighbors of the community plan gathering and some enjoyable fun
activities. Most tenants want these types
of activities. Due to these fun activities and gatherings,
all the neighbors easily get to know each other, which is very beneficial from
a security perspective.
Financial Benefits
Renters integrally enjoy two financial
benefits over the mortgages and that is financial flexibility and financial
stability. God forbid, if you land into any financial crisis, it is like very
easy for you to cut down your monthly expenses. No burden of a mortgage. You
can also invest your huge amount in life insurance, stocks, bonds, and fixed
deposit accounts. You can save this money from the down payment and the
homeowner’s repair and maintenance expense. Financial stability is your monthly
rent is fixed and it does not fluctuate. So, all the expenses are known
already. So, you have stability in your account.
Low Market Risk and Low Maintenance Expense
If you buy a home, you have to pay
mortgage amount and down payment money. The property market is also like the stock
market and the risk is always high. But if you rent a home, you have to bear no
market risk. As a renter, you have few responsibilities of repair and
maintenance at your shoulders. The landlord has to bear all the maintenance and
repair expense for both individual and common areas.
