There are a variety of reasons as to why people opt to rent rather than buy a house. Most of the time, the limitations in finances is the main reason for not purchasing a house. It could also be because people are scared off by the United States housing bubble where housing prices are fueled by demand. Some people also tend to change their view in their American Dream and home ownership isn’t part of it already.
People who decide to rent for a long time can provide a few advantages and disadvantage to property owners and managers. One advantage that tenants give to the property owner and manager is that they do not have to worry about a lot of property turnovers and vacancies. However, a disadvantage to people who rent for many years is that they tend to think that they own the property, even if they really don’t. The rental property might end up having painted walls that the property owner didn’t choose or isn’t aware of. Thus, property owners and property managers should be clear with the rules when it comes to house decoration and home improvement.
On the other hand, tenants do not value a rental property that much compared to the owners themselves. A backyard filled with dried leaves during fall or piled up with snow during winter or infested with too much weed can be one of the signs that tenants do not care that much. Property owners and property managers must make sure that the responsibility on yard care has been discussed. If it has been decided that the tenant takes this responsibility, then it is best that the property manager or a staff can drive by every month to check if he or she holds up to the deal.
Another issue for most tenants is pet ownership. During the signing of contract, property managers must make sure that the policy on pets has been discussed. Be mindful that if pets are allowed in the property, property owners might have to add costs for replacing carpets or repair scratches before the property is rented again.