3 advantages of renting Real Estate:

Knowing the three main advantages in renting a resident will help you better understand your options when renting suits your current needs and lifestyle.

* Flexibility and mobility

One of the biggest benefits of renting is the flexibility in choosing where you want to live. Renting also frees you from being financially rooted to a certain area, so you can move whenever and wherever you choose to next (as opposed to being a homeowner tied down by mortgages).

* Maintenance isn’t a big issue

Maintenance isn’t much of an issue for tenants because your landlord or the corporation is primarily responsible for broken fixtures and appliances. A landlord also handles all the repairs and costs so you don’t have to worry about it. It’s important to know whether you have a separate meter for utilities.

* Amenities

Renters also get access to amenities that would otherwise be very expensive. Nice apartments usually have shared areas and unique features such as pools, gyms, and or study areas. Shared areas are also great for socializing and meeting new people in the residential community

3 disadvantages of renting Real Estate:

To get a complete picture of the reality of renting, you need to be aware of its disadvantages too.

* Instability of rent increase

A landlord can increase rent prices out of nowhere, which can catch many people off-guard and add another burden to those who might be barely making rent as it is. It’s also important to note that when your lease is up, your landlord might raise the price to keep up with inflation rates.

* Less privacy

Living in a complex with other people can mean less privacy. For example, thin walls between a number of units in an apartment complex can lead to overhearing conversations or loud music. Some landlords might also access your apartment with or without your permission, for a number of reasons. Either in an emergency, to do urgent repairs, or even for advertisement purposes (i.g. showing the premises to prospective tenants or buyers).

* Limited freedom in changing up the resident

Since you don’t own the property, you aren’t allowed to make big renovations or changes to personalize your resident. You will always need the permission of the landlord. And you can’t do anything that will cause damage to the property Renting a resident is a big decision to make, and it’s important to weigh both pros and cons. If you need more information to help you decide please feel free to call me at 615-519-2741, I am Middle Tennessee's Trusted Advisor

A member of the National Associations of Realtors (NAR) equips me with industry tools and trends to write contracts and close deals!