Being Thankful For Renting

December 9, 2020 admin

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Thankful for Less Upkeep

The winters in Durango can be unpredictable. Some years we barely get a dusting, while others break records. One of the benefits of renting is that, depending on where you live, clearing snow may be taken care of by the property owner. This can be helpful when, like in 2019, La Plata County saw three feet of snowfall in February, nearly breaking records.

Renting in a multi-unit property can mean less winter upkeep. But it can also mean less yard work responsibilities during the rest of the year. You may have a garden, but most of the yard work will be taken care of in many rental communities. This allows you to enjoy lush yards without the work!

Mortgage and Property Taxes

When the annual tax deadline approaches, the stress can look quite different depending on whether you rent or own. As a renter, you typically only have to worry about your personal income tax filing. For many, this can be completed using a form that is only a few pages long. However, if you own a home, you also have to worry about paying property taxes.

Oh and don’t forget the mortgage that will likely take decades to pay off and the homeowner’s insurance. It all starts to add up. As a renter, you will not have to worry about any of that. Well, aside from perhaps renter’s insurance, but that is not typically anywhere near as expensive as homeowner’s insurance.

Thankful for Mobility Options

Being able to pick up and move whenever you (and your bank account) desire is one such luxury not afforded to homeowners often. Have you decided that the cold weather is just not for you? It can be much easier for renters to relocate, as you don’t have to worry about selling or renting out your home. You don’t have to worry about whether or not you will be able to cover your mortgage if you have to relocate. As long as your lease requirements have been fulfilled, you are free to move across town, across the state, or even across the country.

Updates Are Not Your Responsibility

With normal use, appliances eventually wear out. Plumbing lines can rupture at the most unfortunate times. These expenses can quickly add up. However, as a renter, the most you will likely have to do is make a phone call or send in a work request and the repairs will be taken care of without having to pay a dime. Just make sure that you maintain a good line of communication with your landlord so that small repairs don’t lead to full appliance replacements if ignored.

Fluctuating Property and Home Values

Over the course of time, the value of a home may increase or decrease, depending on a variety of factors. Many of the influences over value are not within the hands of the homeowner, so it can sometimes feel scary when a neighborhood loses value or the country is hit by a recession. By renting, you don’t have to worry about ending up paying more for your home than it is worth.

Convenience of Care

As the population continues to age, more and more older generations are foregoing owning a whole house, in favor of renting. The reduced level of housekeeping, yard work, and more predictable living expenses can be quite lucrative for people of all ages who are living on a fixed income.

Conclusion

As you can see, there are a number of reasons to be thankful that you are renting. Home ownership comes with a lot of responsibilities. Those responsibilities are often associated with a lot of costs. One way to reduce the time and money of owning a home is through renting. The professionals at The Property Manager have decades of experience under their belt when it comes to rental properties. Why not contact them to see how you can save yourself a headache or two?