One of the biggest advantages renters have over homeowners is that they usually do not have to pay maintenance or repair costs. Whenever there is a malfunction or breakdown in the rented house condo for rent in Pattaya, the homeowner is responsible for fixing it. In contrast, if you buy a house, you will have to repay the loan and pay upkeep and maintenance, society bills, property taxes, and renovation costs.
Nevertheless, the tenants should ensure that these terms are included in their lease agreement so there won’t be any conflicts in the future. Compared to owning a home, renting allows more flexibility. The condo for rent in Pattaya is an ideal option for people who may have to relocate unexpectedly. If you intend to leave a place quickly, renting a house is the best option. The only requirement is to give one month’s notice if you want to vacate the house.
In tier-II and tier-III cities, HRA is 40 percent of the basic salary, while in metro cities, it is 50 percent of the basic salary. You will only get a tax on your self-occupied property if you have a home loan, so you will have a high tax outflow. The interest on your home loan also provides income tax benefits. While property owners can raise rent with prior notice after 11 months, tenants can budget since they know how much rent is required of them.
Rent amounts are fixed, at least for the duration of the rent agreement. Additionally, the number of loans and property taxes can fluctuate, making you profitable. When tenants spend the fixed rent, they can invest the additional money elsewhere and live with friends.
In addition to students, young professionals prefer to live with friends to save on expenses and maximize social opportunities by sharing rental properties. A second financial benefit of renting is having access to amenities that would otherwise be a major expense. The amenities offered in mid-scale and up-scale residential societies include swimming pools, gyms, and sports courts. You will not be charged any additional fee for using these amenities if you live in such an apartment.