Home is considered as a place where a family dwells in unity and harmony with each other. Thesedays, majority of individuals intend to reside in rented apartments instead of buying their own house. Both the merits and demerits of rental homes will be discussed in subsequent paragraphs.
Commencing with the multifarious benefits of rental homes. First and foremost, these are highly affordables for the residents. Since, in this inflation era, prices of homes are hiking at a high pace. Thus, it is arduous for everyone to purchase an own house as it requires huge amount of money in hand before buying a house. For instance, a survey conducted in Delhi/NCR societies where the report revealed that 80% people voted for rental homes owing to the price of 2 BHK cost them around 50 lacs whereas one can live in same house by giving 20-30k per month as a rental amount to the landlord. Hence, it is a cost effective approach. Moreover, rental flats provide flexibility to the dwellers, as people can easily relocate from one place to another for academic purpose or because of transferrable job. Therefore, rental home provides them easy mobility.
On the flip side of the coin, there are some drawbacks of being a tenant. Primarily, it does not provide a sense of security for the lifetime. It is well known fact that landlord can instruct anytime to vacate the house by giving one month notice period. Thus, a person will always be afraid of losing the house and cannot call it as their own home. Apart from this, one cannot do any modifications in a rented house because one has to live under strict rules and regulations set by the owner of a house. Owing to this, tenants have to seek permission prior to do any changes such as whitewash, repairing of locks and many other rennovations.
To conclude, although rental flats offer ample of merits but its demerits cannot be neglected. Therefore, people should try to purchase their own house as it brings a sense of security and belongingness.