In most of the countries, people prefer to live in a rented apartment rather than buying a home? What are the advantages and disadvantages of living in rented accommodation?

It is indeed true that home is the basic need of every person. Nowadays most individuals want to live as tenants instead of to buy and live in their own house. I believe that, the benefits to reside in rented property are more and I will discuss both positive and negative points in the upcoming paragraphs. On the one hand, there are a plethora of contributing factors that why people choose to live as tenants. First and foremost, in this era of inflation, as a huge amount of money and time is required to build a house, so a number of individuals find this an arduous task for them. In addition to this, a landlord has to pay a number of taxes such as municipal taxes before build a house which costs a lot. Secondly, in this contemporary time, it is very difficult to have a good job in your vicinity. Moreover, no one has the stability for job. Owing to this, every job person choose to reside in rented flats. Also, it is not possible for them to have their own residence in every city. Furthermore, it is the responsibility of the landlord to bear the charges of maintenance and renovation work. On the other hand, there are few drawbacks for tenants. Firstly, a tenant cannot renovate their home without the permission of owner. They can design and construct the home at any time depend on their wish. Secondly, owner of a property always hike the rent time to time. In addition to this, they have the rights to evacuate the property after a certain period. To recapitulate, I would like to reiterate that although there are some negative points for tenants, but positive points are more. That’s why many masses choose to live as tenants rather than to build a house.