Many people believe owning their own home is the height of success, but it requires a big commitment and a lot of time. Just because you can afford to buy your own home does not mean it is a choice you will enjoy. Owning a home takes up a lot of time and requires a lot of maintenance and attention. You have to be willing to give up your weekends and a good portion of your paycheck for upkeep. Your alternative is living in a rental. Though some people think this is a step down, this is not the case at all. There are many reasons why people choose to rent instead of buy. In some cities, you have no choice. If you are moving to a foreign country, you may want to consider renting especially if you are living there for a short length of time. If you plan to live in a foreign country for a long time, you might still find it is better to rent, especially if housing prices and taxes are through the roof. In addition to cost, a property management company will handle a lot of the issues that an owner would otherwise be stuck dealing with.

If you rent, your rental company is responsible for the upkeep of the building. While you will have to deal with cleaning your individual unit, you will have the benefit of the common areas being kept in great shape by the rental company. They will pay for landscaping and repairs and they will deal with issues like mowing the lawn and shoveling snow when the need arises. This saves you time and money, but still leaves you with a pleasant exterior that will feel great to come home to.

The major renovation projects in your unit will also be funded by the rental company. You can make small upgrades, like adding some paint or an area rug or other decorating additions, but when it comes time to replace large appliances, wall to wall carpeting or major changes with plumbing, the rental company will be on the hook for the charges. Granted, you do not have the power to make the changes on your own time. You may need to deal with a less-than-stellar refrigerator or washer for a few months, but when the upgrades come, it will be cost-free for you.

Most of the time, the rental company handles insurance issues. Depending on where you live and what your specific lease requires, you may have to pay for renter’s insurance. Homeowners are responsible for homeowners’ insurance. This is sometimes a part of their monthly mortgage payment. Insurance to rent is much cheaper than homeowners insurance. The additional insurance costs are offset by the rental company, responsible for paying for traditional insurance.

Finally, if you rent, you will understand the rules of the community before you move in. The rental company will outline noise restrictions, as well as parking issues and other things people living together in a community sometimes face. As an owner, you are basically on your own. If things get too out of control, you can call the police, but most homeowners are stuck dealing with difficult and noisy neighbors without much power to do anything.

Author Bio: Brad Carver recently met with an expert in Nashua property management area to help him find office space in the area. He hired a Manchester property management company to maintain his new office building.

Category: Real Estate
Keywords: Nashua property management,Manchester property management