You may already have a good idea of the benefits of renting. If you have been renting for a certain period, you know that it offers a host of conveniences such as not having to take care of repairs or refurbishments on your own, not having to deal with a mortgage payment (which can often cost a lot more than rent), and so on. But renting brings some other benefits which you may not know about as well, especially in today’s volatile real estate market. Renting offers a lot of flexibility as it allows you to make changes to your life as you deem suitable without having to worry about any property. But what else can leasing or renting give you, and why are more people opting to rent?
Here are the top reasons why renting is a brilliant option for many.
- You can take advantage of a long-term tenancy, which means that you can stay in the property for an extended period without worrying about having to move. A long-term tenancy can start from about six months onwards, and if you ever decide that the property isn’t for you, then you can always leave at the end of your lease agreement.
- Since you can leave at the end of a lease or rental agreement, you can easily ‘test’ out new relationships, such as a new flat mate or even a new romantic partner.
- In today’s world, change is a common thing, and people change jobs and locations more frequently. When you rent, you don’t have to be tied down to a specific area – you can always move if you decide to do so and making a change in your life is easier when you rent.
- If you rent a property that is managed professionally, you don’t have to worry about maintenance, and this provides you with more time to concentrate on other things for a better work-life balance. Since the property is managed professionally, you also have someone to turn to in case you need assistance with the property, and you don’t have to deal with repairs or contractors or other trades people.
- Since the landlord covers the maintenance of the property, you don’t have to deal with insurance coverage for the building and its assets.
- When you rent, you can have a much easier time predicting your monthly expenses because you don’t have to pay for any maintenance or repair issues that come up – all you have to deal with is your monthly rent.
- If you rent and share a home or flat with someone else, this will also allow you to live in a costlier area – an area which you may not be able to afford if you were to live on your own or opt to be a property owner. This is a fact confirmed by experts in property rental such as Clifftons, which also offer a lot of great flats to rent in Bournemouth.
- A shorter-term rental is a good deal for those who are planning a move or doing renovations.
Another significant aspect about renting is that you are more likely to locate rental properties with one or two already furnished bedrooms in city centers, and you can also easily find rental properties designed especially for certain segments of the population, such as young couples or students.