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CONSIDERING
A LEASE?
Leasing is a good option to consider when you are thinking about short-term housing. Scroll down to see some other perks of deciding on a lease.
MINIMAL REPAIRS
Landlords carry most of the responsibilities related to maintenance and repairs, including broken appliances, pest control, even at times lawn care. As a tenant, you usually only pay rent and utilities and, in specific cases, are responsible for actual damages. Your expenses are more predictable and your budget is safer having outlined your responsibilities on the leasing agreement.
SMALLER
INVESTMENT
Leasing a home usually requires only a security deposit and first and last month's rent (depending on the lease agreement). Buying, on the other hand, requires a substantial down payment and a home loan approval which shoots up your debt. When leasing, you only need to be approved by the landlord. You can avoid property taxes and mortgage interest by leasing.
FLEXIBILITY
Once your lease is up, you can just pack up and move. By just giving notice, as outlined in the agreement, you are free to plan your next move. With ownership, you rely on the house market to determine how fast you can sell and move on.
NO LOSS OF
PROPERTY VALUE
Leasing takes away the burden of worrying about losing or gaining equity. Homes can be a good investment if the market value increases, but if it goes otherwise, you might lose. No property value risk, no gain, no loss.