Oregon Rental Homes Provide Affordability and Flexibility
Renting a house in Oregon is an affordable, flexible housing solution. Choosing to rent a house has many advantages over buying a home. Renters do not take on debt, nor are they responsible for property taxes. They also aren't required to handle repairs as this is typically part of the landlord's duties. Additionally, a rental house often comes with a yard maintenance service. A house rental gives the consumer all of the advantages of home ownership without the usual drawbacks.
Most purchased homes come with a mortgage. That mortgage payment usually represents a large portion of the homeowner's income. Buying a house immediately multiplies the debt load of the individual and it is a burden that most people will not be able to pay off for decades. Renting a home is different. The renter is not required to make a down payment. Rather, they must abide by the terms of the property's rental contract. This may mean payment of the first and last months' rent with the addition of a security deposit, though the terms will vary between contracts. Though this initial rental payment may seem steep it's a fraction of what would be required when buying a home.
As time goes on the person renting a home in Oregon will notice many other financial advantages. They are not responsible for payment of the property tax on their rental home. When repairs or maintenance are required they are similarly not financially responsible. Renters are frequently not required to maintain the yard associated with their rental property. Often these chores are handled by a yard maintenance company that's been retained by the landlord. Accordingly, renters have fewer headaches than do homeowners. They also generally enjoy more disposable income and the advantage of being able to save or invest money that would otherwise be going to a house payment. They also have more free time to pursue hobbies and interests and spend time with family. In many ways home rentals in Oregon are a stress free way to live.
Oregon rental homes also offer flexibility to residents. Some rental homes are available on a month to month basis, but most are secured on a lease basis. The lease may be for as short a term as 6 months. However, with home rentals it is not unusual to find leases that last 1 to 2 years. Such lengthy leases offer renters a nice sense of stability and security without necessarily trapping them. If the renters decide it is time to move elsewhere, then they usually only have a few months or a year before their lease expires. Renting a home can be a tremendous opportunity for young adults who feel their circumstances may change dramatically within the course of just a couple of years and want to ensure flexibility.
Oregon rental homes can be found in metropolitan areas and in rural neighborhoods. With so many advantages to renting it is no surprise that more Oregonians are choosing this housing option.