Often, many visualize renting as a way of losing money. You do not own the property, you are simply staying there for a extended period of time and leaving with money lost. However, renting is not as wasteful as many say. In fact, more people are deciding to rent and the traditional way of renting has changed.
There are several myths surrounding renting, including the following:
You are wasting money:
You may have heard this multiple times throughout your life, that renting is essential throwing your money away. That is not the case. Though you do not get to build up home equity, you get to avoid numerous amounts of expenses including household maintenance, utilities, and other costs.
You cannot get out of a lease:
Many believe that once you sign a long-term lease, you cannot get out of it. This is not true. You can break your lease in a few different ways such as asking your landlord if you can sublet the property. If this does not work, then talking with the property management company will make things easier. Getting out of a lease may be difficult, but is definitely attainable.
Negotiation is off the table:
One of the most common myths regarding renting is that you cannot negotiate with the landlord. You, as a tenant, have power. It is essential to read the lease fully to understand everything. If you would like the terms adjusted, simply ask the landlord.
To learn more about the common myths surrounding renting, contact Chang Legal today.
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