Rentals Garden Nursery Landscaping Guide
City Home Rentals
By James R Blunt
Mortgages are not for everyone. Instead, there are new homes,
condos and townhouses offered as rentals. Consider a homeowner
who buys a beautiful home for $500,000, paying $1,721/month. However,
the rent for an equally luxurious condo or townhouse could be
as little as $700/month.
He or she still gets the whirlpool tub, still gets the satellite
television, still gets the marble countertops and the hardwood
floors, still gets the stunning overlook of the river and is,
in fact, closer to all the big city amenities and doesn’t have
to worry about the maintenance expenses! Suddenly renting looks
like a better way to live!
Rent To Own Homes For First Home Buyers
Some rentals are deemed "for sale by owner" and are
actually rent-to-own arrangements. Rent-to-own homes in cities
or suburbs are ideal for first-time home buyers who may have the
monthly income to review their options and able to afford a mortgage
but have trouble saving up the $20,000+ down payment.
Each month, a designated portion of their rent goes toward saving
up that down payment. After a period of 1-3 years, they will take
over the traditional mortgage and full ownership or they might
decide that the place isn’t for them after all, at which point
they can just walk away, losing the same as if they had just rented.
Ineligible For A Mortgage
Rent-to-own rentals are also great for people who have suffered
foreclosure and damaged credit scores. In many cases, the renter
will be signed up for credit counseling and can buy three years
of time to become eligible for a mortgage again, without sacrificing
living space.
Condos account for some of the rentals on the market. Like townhouses,
condos come with the most opulent features and fixtures. However,
these abodes are usually considerably smaller in size. Some condos
are studios or only have one bedroom, whereas most townhouses
have two or more bedrooms. Not everyone requires massive living
space.
Renters Pay A Condo Association Fee
A couple may be happy living in what appears to be a hotel suite,
with marble countertops, an attached master bath with a whirlpool
tub, stainless steel appliances and rich mahogany flooring.
Renters pay a condo association fee, which covers all maintenance
and membership fees for the swimming pool, the fitness center
and condo activities. Particularly as baby boomers age, these
sort of living arrangements become more attractive, blending five-star
resort living with the comforts of home.
A Property Inspection Before Moving Into A Rental
Before moving into rentals, many tenants get a property inspection
to ensure that they will be living in a safe environment. Additionally,
the certified home inspector can act as a verifiable witness about
the condition of the home prior to the move-in.
From time to time, a landlord will try to claim damage to withhold
the tenant’s security deposit when the tenant moves out, so it
is important to document every scrape, ding and defect. With an
inspection, tenants sometimes find they will be paying a fortune
in heating and cooling bills because the windows are not properly
sealed or insulated.
In addition to drafts, a prospective tenant should also look
for signs of rodent or pest problems, faulty appliances, poor
water pressure, water damage, wobbly locks, electrical shortages,
poor cell phone reception, leaks in plumbing and rust on heaters
or furnaces. Often a landlord will be required to fix certain
items before the tenant moves in.
About the Author:
James R Blunt has written a number of articles on real estate, house plans,
architecture and home improvement including
Bathroom Tile Designs,
Interior Design,
Traditional House Plans,
Design Development,
Architectural Services,
Architecture.
Keep a lookout for more of his articles on this website.
Little Known Home Inspection Facts....
When people buy homes, most mortgage companies require that the
buyer’s have a home inspection performed. This is a great line
of work for someone that can pay attention to details and knows
about construction. It is a great job that can make you the boss.
You can take on clients and build up a base of customers that
will help bring you in tons of work. If you are not sure about
how to be an inspector or you need the tools to help make the
job easier, you can go online for help.
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