Leasing a Home

Renters make up a huge section of the real estate market. Similarly, they make up a strong section of our clientele as well, which is why Your Home Hero has some important leasing information and tips for you here.

Leasing Vs. Renting

Most people use the terms lease and rent synonymously, which is fine because leasing a home and renting a home have the same premise of paying a predetermined monthly amount for housing. The main difference lies in the length of the agreement and its terms.

Renting agreements typically last for 30 days, while a lease lasts for anywhere between 6 to 24 months, typically 12 months as standard. Moreover, a lease contract binds both, you and the landlord, from deviating from its terms.

This generally means no rent raises without your written consent or eviction without cause, but it also means you cannot terminate the lease or stop paying rent without repercussions. No matter your agreement, Your Home Hero will always guide you through every detail of it.

Repercussions for breaking or terminating the agreement mean that you will either have to find a new tenant for the remaining lease period or lose your security deposit. It also means the landlord can sue to get you evicted if you stop paying rent.

Rental agreements, on the other hand, are even more flexible. They are renewed every month and without much commitment on your part. However, the landlord can change the price or terms of the rental agreement at the end of each month by giving you a written notice.

Benefits of Leasing a Home

There are some great benefits of leasing a home, because leasing a home is:

Less Expensive

Leasing is typically less expensive than buying a home. You do not have to pay property taxes, homeowner’s insurance or mortgage payments, making leasing less of a financial burden and more flexible

Less Responsibility

You do not have to worry about paying for expensive repairs or any kind of maintenance of the home if you are a tenant. Your landlord is responsible, and they will bear the cost and resources required for the upkeep of the home

Less Risk

Leasing takes away the concern of fluctuating real estate prices. You have no stake in the home, no equity to worry about and therefore, less risk. The home value can go up or down and you will neither gain nor lose anything

More Flexible

As previously mentioned, your lease is for a defined term period, which means you have the flexibility of leaving once the term ends. This is unlike homeowners who have to go through the selling process to move on

Leasing a House Vs. an Apartment

Here are a few tips to keep in mind when deciding to lease a house or an apartment.

Leasing a House

  • Less upkeep than a house – no lawns to trim, sidewalks to shovel, etc.
  • Typically offer a variety of amenities – pool, gym, laundry, communal park etc.
  • Typically have faster maintenance – on-site services for plumbing or electrical issues

Leasing an Apartment

  • Less upkeep than a house – no lawns to trim, sidewalks to shovel, etc.
  • Typically offer a variety of amenities – pool, gym, laundry, communal park etc.
  • Typically have faster maintenance – on-site services for plumbing or electrical issues

Your Home Hero

Whether you decide to rent or lease a house or an apartment, Your Home Hero is always here to make the process much simpler and provide you with the best deals possible in PA and MD. Leasing a home will never be easier than with Your Home Hero by your side.

We will guide you through every step of the way with a high level of dedication, honesty, and professionalism in all matters of real estate.

Ashley Miller realtor

Get in touch NOW!

    Recent Posts