Apartments

In many occasions people can not afford to buy a whole house or just do not want to maintain a house. With this common problem in mind Apartments where invented.

Apartments are usually considered a large multi unit building where each unit can be rented out to a separate individual for a set price each month.

The costs of living in an apartment are much cheaper in a house because the renter or often called the tenant can afford such fees as paying property taxes.

One disadvantage in the rental of an apartment is that the renter does not gain any percentage of ownership in the property, there for if the tenant decides to leave and move some where else he has no option to sell his or her unit. Another disadvantage to the rental of an apartment is that you can not take advantage of the Homestead Act which gives home owners a tax break on their mortgage payments; the government will pay all the interest according to us regulations.

Some advantages to the apartment is that there is no upkeep the tenant hold no responsibility for major repairs or maintenance of the outside of the property, this is the sole responsibility of the owner.

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