Often times, it makes more sense to rent your home than to buy.
Renting, especially in today’s rocky housing market, guarantees:
Flexibility – Leases usually run no longer than 1 year, while mortgages lock you down for 30 years
Affordability – Buying a house demands a lot of cash upfront, while renting only requires a small deposit and first month’s rent.
No Surprise Expenses – As a homeowner you’re financially responsible for all maintenance and repairs. As a renter, your landlord covers those.
No Property Taxes and Insurance Premiums – Property taxes and insurance on a home you own are no joke, they can run you thousands each year. As a renter you have the option of renter’s insurance, but even that’s not required.
Freedom – With the rise and fall of the housing market, you might find yourself unable to sell your house. As a renter, you can always
The best thing you can do is ask yourself, what are my needs?
Knowing the answer to these questions will help clarify if renting is for you.
Do I need flexibility, might I be moving soon?
Do I want to do the smart thing and test out an area first before thinking about buying?
Do I want to save money for something else?
Do I want to be responsible for the home maintenance?
Do I want to pay the insurance and taxes?
Do I want the freedom to easily leave?
We know that finding the perfect rental can be a nightmare – endless hunting, and hoping you’ve found the right spot, only to discover that it’s the size of a small closet, under a freeway, missing a roof, or comes with terrible rental terms.
Those kind of rentals are why we got into the business of doing it differently. We take great pride in the condition of our properties and our rents are always fair. Contact us today to see our available properties.
5 (often overlooked) Questions You Absolutely Must Ask
Is it held together with duct tape and a prayer? Or have major repairs been done in the recent past – ie: new electric, new pipes, mold remediation etc. You’ll want to know the condition of the floors, walls, and ceilings. Are the windows solid, or do they invite a gale force wind to blow through your living room? Is there water damage, a rotten smell or is it beautifully maintained and without issue?
You’ll want to know how quickly they’re handled and by whom. What happens if something breaks on a weekend? Are you allowed to call for repairs and they’ll reimburse you? Do they have an understanding or an account with a particular provider? Nobody wants to live with a broken toilet or clogged drain over a holiday weekend.
Some places include all utilities and cable. Some only water and trash. Some include nothing at all. You’ll want to know exactly what your monthly bills are going to look like before you commit (or overcommit) to a place. Also check out where the heat sources are and if they’re effective, and the same with air (is there a breeze and fans or will you be leaving the freezer open in summer just to cool down?)
Some places come with assigned parking, some have garages, and for others it’s street parking only. If that’s the case you’ll want to know if you’ll be circling the block every evening, or if the street is always empty. You might need a parking pass, and you’ll want to know the rate of car break-ins. Check it out before you’re stuck for 12 months.
Deposits can be tricky, and most tenants don’t exactly know what they are and aren’t responsible for when they leave a rental, effectively gambling with their money. You’ll want to know the exact terms of the deposit, where it’s held, and if any part is non-refundable. Go through the pre-move in inspection, take pictures, and make notes, but also ask for a move out checklist of everything you’ll be held responsible for and the costs.
Renting can be a simple way to live, as long as you know what you’re getting into before you haul your furniture through the door.
Get to know your landlord, and get them to help you paint a picture of what living there will be like. This is one area where doing your research and asking lot of questions will really benefit you