Is renting a better option for seniors than owning? While renting does come with the high cost of rent, there are some benefits that come along with renting a place over owning. It may be for you or your elderly loved one. Take a look at some of the benefits to renting versus owning as a retiree.

Maintenance

One of the major cost and time sinks in a home is the maintenance. If the house has a lawn, sidewalk or driveway this is all going to need to be taken care of. This means mowing in the summers and shoveling snow in the winters. With a rental property much of these outdoor chores are part of the rent and taken care of. This relieves the renter from the burden of trying to get it done themselves or paying for someone to do it.

Repairs

If you own a home and something breaks it is on you to fix it. Costly items like an HVAC system or new roof can put a dent in finances that are already stretched thin. Renting prevents that. A rental property’s repairs are the responsibility of the landlord. A phone call will usually have a qualified repair person in the home quickly and at no cost.

Moving Out

It may eventually come to pass that you or your elderly loved one needs to move to a care facility. Rentals remove the issues that come with selling a home or maintaining an empty property.

Stano Law group can help with legal issues arising from rentals for retirees or the elderly.