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Rent vs Own

By | March 2011
Page 1 of 3
To Rent or Own a House
I am writing a comparison between renting and owning a house. I am going to give you pros and cons of renting versus owning a house. I am also going to give web sites that you can go to for advice. Depending on your financial status you will be able to decide which is best for you. When wanting to rent you first will have to find a house that you would like to rent. When you find a house that you would like to rent the perspective landlord will give you an application. The landlord will normally a credit check to make sure that you can afford to rent there house. If or when the landlord offers you the house to rent they will then ask for a security deposit. A security deposit can be anywhere from one to three times the amount of rent you will be paying for monthly rent. The security deposit is returned at the end of the lease if the house is left in the same shape it was when you rented it. Normal wear is not included but you may need to have the carpets cleaned and make sure that there is no trash left inside or outside the house. If a landlord needs to hire anyone to make repairs that you have inflicted on the home it will be deducted from the security deposit. The landlord will ask you to sign a lease or rental agreement. Leases are normally for one year at the end of this time you must sign a new lease, if it is agreed upon between you and your landlord. At the beginning of the new lease you would need to abide by any changes of the new lease. Changes may be amount of rent, occupants and responsibilities of either you or the landlord. In the lease are the conditions for rental such as length of lease, how much of a security deposit, who is occupying the house, items that will be deducted from the security

deposit at the end of the lease, what utilities you are responsible for, etc... You must abide by the rules of the lease or the landlord has the right to have you evicted. When renting a...

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