Two-thirds of young adults rent their home. Renting is a great option for people of any age who aren't ready for or aren't interested in home ownership.
Unfortunately, some people are hesitant to rent due to the fake news they've heard about renting. We're here to clear up those misconceptions.
Keep reading while we debunk 5 common myths about renting an apartment.
1. "You're Throwing Away Money"
How many times have you heard this one? The reality is, renting is a more affordable and practical option for a lot of people.
Home ownership comes with more financial responsibility than some people are looking for. Purchasing the home is just the first of many expenses that fall entirely on the homeowner.
For most, it's cheaper to rent, allowing them to spend their money on other things, or even save for a down payment on a house. Renting allows for more flexibility.
One of the biggest benefits of renting is the maintenance service that comes with it. When you own your home, the work and the cost is on you.
2. "Your Landlord Can Enter Your Apartment Whenever They Want"
Wrong! Landlords do need to enter your apartment occasionally, but not very often and only for specific reasons.
Landlords might enter your apartment to do routine maintenance or check fire alarms. However, they can't just come in whenever they want.
Landlords are required to give sufficient notice before entering your apartment. Of course, if there is an emergency, they may come in without notice, but that's understandable.
3. "The Landlord is Responsible for All Repairs"
For the most part, this is true. But if you cause damage beyond normal wear and tear, that's on you.
Your landlord will be responsible for routine general maintenance, plumbing, and pretty much all other reasonable duties. However, if the damage is caused by the negligence of the resident, they will be responsible.
Fortunately, having a renter's insurance policy in place can protect you if you do accidentally cause some damage.
4. "You Can Be Evicted for Any Reason"
Evicting a tenant is not as easy as people make it seem. If you have a lease agreement, you have to clearly violate the terms of your lease in order to be evicted.
Even then, the landlord must be able to prove this and provide you with sufficient written notice before they can evict you. There is a specific legal process that a landlord must follow in order to evict a resident.
5. "You Can't Rent with Bad Credit"
Having bad credit does not automatically disqualify you from renting an apartment.
Landlords look at more than just your credit score when deciding whether to accept you as a resident. Your paystubs, roommates, cosigners, and previous landlords can all help you land the rental of your dreams.
Renting an Apartment
We hope that debunking these common myths about renting an apartment has put your mind at ease.
The first step to renting an apartment is filling out an application. If you have questions or if there are other myths you are concerned about, contact us today and we'd be happy to provide the answers you need.