This simply refers to hiring or letting a house between a client and a home owner. Payment of rent under this contract involves having no variation of the period. 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. It has become a trend for individuals to adapt to this method of home renting as it is cost effective and efficient. This trend is very suitable for individuals who are always traveling and those working away from their place of residence. Among those in the population who have utilized this procedure include students and industrial workers who cannot afford the high cost of owning a home. Such costs include insurance and real estate taxes.
the program of home renting has posed more benefits than home owning. The first benefit associated with home renting is that of evading 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 recorded in home renting involves the availability of expensive luxuries which are very expensive to install in case of home owning. a good given of these luxuries include swimming pools,saunas and fitness centers. The given examples are very expensive to install in case of house owning and are offered for free when it comes to home renting.
The next advantage of home renting is concerned with how inexpensive the method is in terms of 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 the burden of depreciation. Home renting has posed more advantages and thus highly recommended as it is effective.