Renting an apartment or home has received a bad reputation over the years mainly thanks to myths and incorrect assumptions.\u00a0 Renting is on the rise and we are here to debunk the myths around it.<\/p>\r\n\r\n\r\n\r\n
Renters Throw Money Down the Drain<\/strong><\/p>\r\n\r\n\r\n\r\n A huge misconception about renting is that renters are taking their money and throwing it away.\u00a0 Just because you are not investing in a home, does not mean you are literally throwing money down the drain. \u00a0<\/p>\r\n\r\n\r\n\r\n 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.<\/p>\r\n\r\n\r\n\r\n Also consider the time and place you are in during your life when debating to rent or buy.\u00a0 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?\u00a0 Are you in a competitive job market?\u00a0 Are you single, married, or starting a family?\u00a0 All of these affect a person\u2019s decision about buying or renting a home. \u00a0<\/p>\r\n\r\n\r\n\r\n Renters Have No Power<\/strong><\/p>\r\n\r\n\r\n\r\n People assume that if you are a renter, the landlord has all the power.\u00a0 The biggest assumption is that renters begin renting a property without any negotiating.\u00a0 They simply sign a lease created by the landlord and have to live with the terms and conditions. \u00a0<\/p>\r\n\r\n\r\n\r\n More often than not, this is not the case.\u00a0 Renters actually have leverage when it comes to leases.\u00a0 If you are a renter, read the lease in its entirety and bring up any details that are important to you.\u00a0 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.\u00a0 It never hurts to ask and many landlords are willing to negotiate with good, quality renters. \u00a0<\/p>\r\n\r\n\r\n\r\n Renters Can be Evicted Without Reason<\/strong><\/p>\r\n\r\n\r\n\r\n Another renting myth is that renters can be evicted with little notice or due cause.\u00a0 Renters who have a good lease in place are protected from this myth.\u00a0 Again, it is imperative you read your agreement in its entirety to be aware of any eviction clauses. \u00a0<\/p>\r\n\r\n\r\n\r\n