Out of the conventional living options, renting often comes with the least amount of pressure. That is not meant to imply that renting is always stress free or that renters do not want security or longevity. They just retain the right to move. With renting you may have a lot of freedom but you aren’t necessarily building equity. Finding the right place to rent takes effort. Most places require renters to sign a 12-month lease. So even though it doesn’t lock you into that place for life, it does require that you pay rent for 12 months. Here are a couple reasons why you might not want to renew your lease this time around.
Rent is going up
You would think tenants would be rewarded for their money invested or for not jumping around from place to place but unfortunately landlords usually do the opposite. Landlords tend to raise rent when it comes time to sign a new lease. Check out the top ten cities where rent is rising the fastest here. Landlords usually send a letter or email to tenants about the raise in rent and sometimes it is only weeks before you have to resign or move out. Don’t let this happen to you, think twice before renewing your rent.
Many people start their own business because they want to ‘be their own boss’, well the same thing works for buying a home. Buying a home is being your own landlord, you get to choose the paint colors that you want, if you want to hang stuff on your walls or not and what appliances you will have in your home. It […]