Renting an apartment or home has received a bad reputation over the years mainly thanks to myths and incorrect assumptions. Renting is on the rise and we are here to debunk the myths around it.
Renters Throw Money Down the Drain
A huge misconception about renting is that renters are taking their money and throwing it away. Just because you are not investing in a home, does not mean you are literally throwing money down the drain.
Owning a home, while providing an investment, also includes the extra costs of ownership such as home maintenance and repairs, utilities, taxes, and more that you can potentially avoid when renting.
Also consider the time and place you are in during your life when debating to rent or buy. Are you planning on staying in one place for a longer period of time or are you looking for new opportunities that could potentially take you to a new city? Are you in a competitive job market? Are you single, married, or starting a family? All of these affect a person’s decision about buying or renting a home.
Renters Have No Power
People assume that if you are a renter, the landlord has all the power. The biggest assumption is that renters begin renting a property without any negotiating. They simply sign a lease created by the landlord and have to live with the terms and conditions.
More often than not, this is not the case. Renters actually have leverage when it comes to leases. If you are a renter, read the lease in its entirety and bring up any details that are important to you. Again if you are in a time in your life where you may or may not potentially be moving, bring up the possibility of including a relocation clause in your lease. It never hurts to ask and many landlords are willing to negotiate with good, quality renters.
Renters Can be Evicted Without Reason
Another renting myth is that renters can be evicted with little notice or due cause. Renters who have a good lease in place are protected from this myth. Again, it is imperative you read your agreement in its entirety to be aware of any eviction clauses.
Renters Can’t Afford To Buy a Home
There are renters who rent by choice. Either they enjoy the freedom renting lends to their lifestyles, are new to a city, or are testing out an area before buying they do have a reason for choosing to rent rather than buy.
Renting in Cincinnati
Renting is not something to be afraid of. For certain people at certain times of their life, renting is the preferred choice. If you are looking for a home or apartment to rent in Cincinnati, contact Cincy Rents for a list of properties available.