Old Bay Insurance Agency Blog
Starting to live a quiet life happens when you get married or buy a house. But, every individual experiences a different stage of responsibilities. Others may not be ready for raising a family. To them, buying a property may not be the first course of action. If you’re one of those who see that renting out is an ideal housing solution, this article will talk about the four reasons why you should do it this year.
Here are the advantages you can obtain when you rent a place where you can stay rather than owning a house:
Renting is a Short-Term Obligation
If you’re a renter, you can decide the period of the rental when signing new leasing. Depending on your necessities, you can rent the property from six months to three years. It’s not a long-term commitment. You can dispose of the agreement with the landlord at any time, but with penalties.
There is Flexibility and Convenience when You Rent
One of the best things about this option is that you aren’t bound by location. You can decide to lease the nearest place for your work or play. Aside from saving your precious time, you’re saving your energy for other essential matters when you opt to rent a house.
You Can Save Money by Renting
Rather than buying a property, renting is a more practical option as you can choose the best place for you by following your financial plan. All you need to think about is the monthly rental fee. Then, you can keep the rest of your money for the future or spend it somewhere else.
Take note: Renting requires down payment. But, it’s a lesser amount compared with a down payment required when purchasing a property.
Good to know: You can be part of some perks. Sectional title property bonuses, as part of the monthly levy, including sewage, prepaid water, and security paid for by the property owner.
Property Maintenance is not Your Responsibility if You’re a Renter
Your landlord is responsible for maintaining the property. If something went wrong, like an electrical wiring problem, the property owner is expected to have it fixed. As a tenant, you are expected to inform your landlord about any issues you notice secure your safety.
One More Thing Before You Go
Now that you know why renting is an ideal choice, it’s also crucial to guarantee your protection. So, talk to a reliable insurance agent to get a rental property insurance plan for your convenience.
At Old Bay Insurance Agency, Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (410) 777-5390 or Click Here to request a free quote.