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. This agreement is governed by terms and conditions which govern the amount payable, date of paying rent and compensation in case properties in the home are destroyed. in the current times, peoples prefer home renting to home buying in order to take advantage of the less cost inquired. Home renting procedure has proved beneficial for individuals who are always away from home such as travelers and those working away from home. 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. Such costs include insurance and real estate taxes.
House renting as an alternative of home owning has posed more benefits which include cost and availability of expensive luxuries. The first advantage recorded and confirmed by those practicing home renting is that one does not inquiry maintenance costs and repair bills. 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. Saunas, swimming pools and fitness centers are good given example of facilities offered in home renting. Such amenities are very expensive to install to a house owner but are offered for free in the case of house renting.
The next advantage of house renting revolves under cost as it is interns 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. 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. In home renting, one is saved from the burden of cost lost through depreciation. depreciation refers to properties loosing value with time, such property include vehicles, buildings and equipment. Home renting provides an advantage as the burden of depreciation is transferred to the land lord. Home renting has posed more advantages and thus highly recommended as it is effective.