This simply refers to hiring or letting a house between a client and a home owner. The terms and condition in house renting require one to pay rent at a given time of the month or year as per the agreement. 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. individuals working away from home or those always traveling have record maximum utilization of this program. 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. home owning has additional costs compared to house renting as insurance and real estate costs are evaded.
House renting has proved to be advantageous in various ways in that they post more benefits than drawbacks. The first advantage recorded and confirmed by those practicing home renting is that one does not inquiry maintenance costs and repair bills. As we all know, properties are all subjected to damage and regular maintenance which interns inquires a cost. In the home renting agreement, it is agreed that the cost of maintaining the home and other repairing cost is to be catered by the owner and this makes the 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. 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 by the government charges posed to house owners by the government. This heavy charges are compulsory and evading them is recorded as a crime. the advantage builds in to the home renders as they do not pay this tax compared to home owners, as per the home renting contract, this tax is supposed to paid by the land lord and failure to do so leads to heavy penalties to the land lord and not the individual renting the house. another recorded advantage of home renting involves evading costs related to depreciation of properties in the home. depreciation refers to properties loosing value with time, such property include vehicles, buildings and equipment. Home renters are saved from this burden which reduces the value of properties as time goes by. Home renting proves to be more advantageous and should be adapted as it is cost effective.