Two weeks ago we told you about a couple of reasons it’s not necessarily super-awesome to own your own house. Well, now here’s the flip side of the coin. Renting has plenty of financial drawbacks too.
Should you buy your home or rent it? The Economix blog says one good way to figure that out is to look at your area’s “rent ratio.” That’s the cost of a typical home vs renting it. A general rule is that if that number is less than 15, you should buy. If it’s over 20, you should rent. Here’s a look at the rent ratios for some top metro areas:
Do you rent? Better know your rights. Here’s a state-by-state guide with links to statutes for both landlords and tenants. If you want to negotiate down your rent, get a drippy ceiling fixed, fight an eviction, or squelch a noisy neighbor, first bone up on your renter law.
Shannon in Alabama recently got engaged, and she’ll be moving into the house her fiancÃ© owns after the wedding in December. The problem is her current place, which she just leased in April. She wrote to Consumerist for help figuring out what to do, since her landlord doesn’t seem too clear on the procedures, either.
Sick of her renters not paying any rent, a Charlotte landlord spraypainted “DEADBEAT TENANTS” on the garage.
Sara thought she was being a good tenant. She moved cities and rather than pay the stiff penalties for breaking the lease, she continued to pay rent on the old place. She even turned off the electricity before she left. Ever since she told the old landlord she won’t be renewing the lease, he’s been going all aggro on her on the phone, demanding payments for electricity she didn’t use, insinuating she’s a criminal and is still living there, and generally being a jerk. Sara wants to extricate herself from his clutches but is afraid for her $700 security deposit. What can she do?
In life, everything is negotiable, including your rent. Many renters might tremble at confronting the dark landlord ogre, but with a little research, some tips on negotiating, and a little moxie, you can stand a fighting chance at trimming your monthly rent check:
Marketplace took a look at Just 4 Wheels in New Jersey, where you can rent a car with just a debit card or even cash — if you put down a $250 deposit.
Rent-A-Center, the furniture/appliance rent-to-own company (“For When You Want to Piss Away Your Paycheck!”), has settled with the Washington Attorney General’s Office over charges that its employees harassed customers who were late on payments. Last year, the company’s employees in Washington were accused of trying to kick in one customer’s door and threatening another one with jail, among other things.
It’s nice to have an apartment on a cliff overlooking the ocean — until the cliff decides to stop existing. That’s what is happening to one apartment complex in Pacifica, CA.
So apparently apartment vacancies were up to 8% in the last quarter, which is weird because one would assume that people getting tossed from their foreclosed houses would be renting. Marketplace has some thoughts on the problem.
Are you hitting that stage in life where you’re thinking of becoming a homeowner? Morningstar has published two home buying articles that together offer some good, concise advice to the prospective buyer, especially if you’re a first-timer.
The next time you travel to another city, it might be cheaper, or at least more interesting, to rent directly from a local homeowner. Cool Tools says Vacation Rentals By Owner (VRBO.com) is a great way to find rental opportunities when you travel.
Car rental firms have cut their fleets by almost 15% in the last year, creating an artificial shortage that has helped to raise prices. Inside, a few tips that can help lower the cost of your next car rental…
The sun has set for Sun Harbour Apartments in their attempt to steal money from a dead man’s family. Court documents obtained by Consumerist indicated the landlords recently lost their appeal in a case where they tried to charge the estate of the late Arthur Zissenfor the 3 months left on the man’s lease, as well as taking his security deposit. The apartment complex have a 60 days advance notice required before vacating the premises policy and not even a swoosh of The Reaper’s scythe could break it, Sun Harbor believed, erroneously. Inside, the local newscast from when the case first went to court.