Some people say that renting a home is just throwing money away; however, that statement is not necessarily true. There is a fervent debate about whether it's better to buy or rent, but both sides have valid points. Buying a home just doesn't work for everyone. What if you don't want to put down permanent roots in a city, or you don't have the substantial down payment required to own a place? It may be the American dream to have a space to call yours, but some people will tell you that it can turn into a nightmare. Renting is an option that fits many families.
Information. Still on the fence about renting? A household takes upkeep. The vital systems in the home, plumbing, electrical, and HVAC, can be a fortune to repair or replace. As a homeowner, you are responsible for anything that goes wrong. If you have the knowledge to fix things, then you can save yourself a great deal of money. However, many people must call a repair professional and it can cost a significant amount of cash. Unless you have money to pay for constant repairs and upkeep easily, or you have the knowledge to fix things, renting is a better option.
Did you know that local real estate agents can help with home rentals too? This is correct. A lot of landlords will source out their tenant recruitment to real estate agents. A realtor nearby can be very helpful when in search of a rental property.
House rental process. The rental process is straightforward. Once you find a place to rent, you will need to fill out the paperwork, and they will take a copy of your identification. Most landlords will require a deposit and first/last month's rent. A background and credit check are pretty standard now too. Usually, an application can be approved or denied in a matter of a day or so. It all depends on the landlord and how fast they move. If things haven't moved as quickly as you would like, feel free to call and get an update on the situation. There are likely other homes to check out as well.
Finding homes to rent. The internet is a great place to find listings in your target area. Social media is full of pages on the marketplace that are dedicated to rentals. Also, be sure to ask friends and family members as it's easy to find a great place through associations. Many realtors have homes that they rent when they don't sell on the market, which is another thing you don't need to worry about when leasing a place. Line up several places to look at and make sure you get the best bang for your buck. Don't be picky, but don't settle for something that is below your standards. Most cities have plenty of rental properties available.
Negotiating terms. Do you feel that your dream rental is overpriced? Don't be afraid to negotiate terms. Does the advertisement say, "no pets?" Don't always take what the ad says verbatim. Most landlords use standard language to try to keep things simple. However, many are willing to work with people who put up an additional deposit for a pet. Also, some landlords may lower the rent a bit if you sign a longer lease. It pays them to avoid going through the whole tenant search again in a year.
Short term rentals. Renting opens lots of options and gives you the flexibility you need. Most lease terms are for a year, but some places specialize in short term rentals too. You may want to consider a short-term rental. These rentals are geared towards business professionals that don't need to be in one location for extended periods. If you need to be in an area for less than six months, then a short-term rental may be ideal. It's just another way that renting makes things easier for those who move around or haven't found a place where they want to settle down. Short term rentals are certainly much better than long term hotel stays.