Previously, I've written a comparison between buying a home or renting it for residential. And, this article will be discuss in detail about the advantage and disadvantage of renting home.
For those who're always moving for various reason, buying a home is not really suitable for them. If they buy a home in that situation, the best way to avoid too high maintenance cost, monthly installment and so on is by renting to others tenant. However, only selected type of house is suitable for rental purpose. Meaning here, if you buy a bungalow, it's not easy to get a tenant due to high rental fees.
By renting a house, actually there is no house ownership. The only biggest risk is you not have any right to that house at all. At anytime, you are facing a risk of the increasing higher rental fees. Even you're not having any difficulty to move away form your rental house, you're get in trouble when you have to paid more for getting in new house at first. Basically, every tenant have to pay at first the double down payment.
Another disadvantage is no tax write -off. So, we cannot get any deduction for our asset in this matter.
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