Benefits of Rental Living
Some Benefits of Rental Living-
- No Down Payment – Deposit is much less than home down payments, all or some of the deposit is generally refunded at end of lease
- Maintenance fees included- Landlord covers cost of repairs or upgrades, outdoor maintenance and lawn care, snow removal is also included
- No Property tax- Property tax is charged based on home value and can be thousands of dollars per year
- Lower Utility costs- Newer appliances or compact floor plans can offer better efficiency and conserve energy
- Flexibility- only be tied to the home for the length of the lease, easy to move on if you have a growing family or new job
- Less expensive insurance- Rental insurance is more affordable than homeowner policies
- No Market Concerns- Shield yourself from the ups and downs of the real estate market, no risk of losing investment if property values fall
- Amenities- Renters often have access to pools and fitness centers and are included in rental costs
- Easy Budgeting- Rental rate stays static for the life of your lease, adjustable rate mortgages and property taxes can fluctuate
Robert Hancock & Company – Commitment, Community and Comfort