Renting To Save Money — But What About Home Repairs?
RH Business Marketing Solutions
In the recent National Rent Index, according to Salviati, Popov, and Warnock (2021), rents continue to rise annually and this occurs in nearly all of the nation’s largest cities. Sacramento, California experiences the highest rent growth with an impressive increase of 9.3%. Idaho, when on a state level, experiences the fastest growing rate of 4.9%. Relatively, based on the United States Census Bureau’s data that was analyzed by the Pew Research Center (2020), it was found that more and more U.S. households are renting an apartment at any point in 50 years, with at least 36.6 percent of households renting their home. It was also mentioned that the last time renting became this significantly high was in 1965 at a rate of 37%.
Why People Choose To Rent
Worth noting, the latter study’s respondents included even those who were traditionally less likely to sign a rental agreement aging from 45 to 65-year-olds while around 65% of renters are obliged to do so for matters of financial reasons. Thirty-two percent only rented out because of a personal preference. Especially now that the world is experiencing the COVID-19 pandemic, more people are preferring to rent an apartment for various reasons. In fact, according to Entrata (2021), people chose to rent as an effort to make spending and financial changes to their lifestyle because of the global pandemic. Taking into account the millions who are directly affected by it due to loss of employment, many grappled to pay for the basic necessities like food and shelter. Most of these individuals find the government financial support a lifeline that helps them get by but housing eats up the entire budget as it remains to be the most expensive need that needs to be fulfilled and that their spending habits need not only be controlled but trimmed to the bare minimum.
Seventy-eight percent of renters have already made financial chops in several expenditure categories such as dining out (23%), deferred travel plans (22%), shopping (19%), and entertainment (18%) based on the latter study cited. Saving money is something people see a silver lining in when the financial circumstances are just hard to bear and as such, renters fret hidden and unforeseen costs that even the financially prepared stumble on as rent always entails a few other expenses: the application fee, security and pet deposits, move-in costs, additional furniture, insurance, utilities, and maintenance. Among all these, there is one question that has always stirred confusion on the side of the renter. Who is responsible for all the home repairs?
Rental Home Maintenance Issues
We know, constant and recurring maintenance issues are exhausting for both the tenant and the landlord. For tenants, it could be very frustrating having to write requests over water and never get any response. Landlords can simply ignore them and just turn a blind eye to the tenant's maintenance needs. This situation happens at a frequent rate especially when you failed to put this on your to-ask-the-landlord list upon seeing the place the first time and prior to moving in.
You are not unfamiliar with the cliche that you should make reading a habit in signing agreements. Critically check the scope, inclusion, and coverage of the rental contract. Think it through so you will not find yourself sighing with frustration and a lot of “I thought..”. You might want to reread your rental contract and check if the answer is there but if not, you have to have the heart and courage to ask your landlord whose responsibility it is. Most of the time, landlords cover it but the reality to this is that it will usually take some time to the point that you already fell by the wayside.
What Tenants Must Know
Tenants should know the importance of keeping open communication with their landlords. Compliment on the things you like about the apartment from time to time and update them about the status of the place so that there can be no room for shock and surprise if one pipe already fell off due to their neglect after you told them about its shaking and unstable condition three weeks back. If maintenance should be done by your landlord based on your rental agreement, there should be no problem insisting. But if it is not, there is a huge possibility that he does not want to cover it although you can always consult him kindly and ask sincerely.
Landlords should take these matters seriously and in return respond to the needs of their tenants as this is ideally good for their business. They should consider the long-term results of foregoing repairs which can actually bring in more profit and more disciplined tenants. When tenants see that their landlord addresses their needs and spend money in maintaining and upkeeping their property even if it is rented, renters will highly appreciate it, take good care of it, remain a good payer. They will also speak of the apartment and landlord in good light. Nowadays, because households are embracing the idea of renting their homes, the rental market can get really competitive and small improvements and effort in maintenance can make all the difference.
About The Author: Regi Publico is a full-time writer based in Manila who is also an artist for fun. She takes pride in her tower collection of books and loves reading about anything under the sun. She is passionate about sharing her knowledge through every article that she writes.