3 Myths About Renting An Apartment Or Property

3 Myths About Renting An Apartment Or Property

We’ve talked a bit in the past about the benefits of renting on the property management side, but not the buyer’s end. It’s a common saying in the world of real estate that renting is like throwing away money. This isn’t necessarily the case. You can get the best roofing experts here, click over here to learn more.

The fact of the matter is that the market isn’t always in the most financially feasible place for everyone to make the monetary leap into home ownership. We’ve put together five myths about renting a home or apartment that seem to come up often.

Lease-Locked

A common belief is that once you sign a year-lease you’re locked in for better or for worse. Sometimes necessity drives you into signing a long-term lease when you know changes may arise down the road. Sudden life-changes such as losing roommates, or landing a dream-job that forces you to relocate can occur and cause you to break your lease.

 

The most obvious path simply speaks to your property manager, or landlord. Explaining your situation to another human-being often yields positive results. Letting your landlord know your full situation and offering to work with them to figure out a solution avoids any shadiness. This way if you choose to sublet your place until your lease is over you’ll know whether or not that’s even allowed at the property.

There are fees attached to breaking a lease no matter what, that’s just how it goes.

You’re Wasting Your Money!

Though paying monthly rent accrues no equity for you, it might not be financially-sound for you to be investing in a property right now! The market is ever-fluctuating and the cost-of-living in urban, or suburban areas is changing just as rapidly. Finding a smaller, more affordable space to reside in that has a low monthly rent might save you more money in the long-run than investing in a home before you’re completely ready.

 

You may have enough to put a payment down now but might go belly-up in upkeep and maintenance fees on your new home. Almost all rentals come with maintenance and repair covered in the lease-agreement. Cheap rent and no fees for appliance replacement or home repair might save you a lot of money in the long-run.

You Have (No) Power

Your landlord doesn’t hold all the power! If you’re renting from a smaller operation or perhaps a single person that rents out a handful of homes, talk to them! A negotiation is a powerful tool and any property has a single person attached to its management that you can talk to.

 

If you need to break your lease you have the power to say your decisions are final and that they need to work with you. Ask about relocation-clauses or mortgage-clauses in your lease. You have a lot more power than you think when push comes to shove.

 

Contact us to talk more about social media and Washington real estate opportunities.

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Real Estate Solutions Group aka RESG is Washington’s most innovative real estate team. Serving the greater Seattle Metro for luxury homes, residential home buyers, home sellers, real estate investors, new construction, land, and land development.

 

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