On the GetRichSlowly blog Kristin Wong recently published a post about some risks for renters and what to do about them. See Looking out for your finances as a renter, GetRichSlowly.org, 09.03.14.
Wong tells us:
When the best season is to rent and when the worst is;
The value of renter’s insurance;
Limits to security deposits;
Tips on how to negotiate rent; and
How some states allow tenants to recover interest on the security deposit.
Renting can be a wise choice over buying for many people. If you are a renter, by choice or otherwise, it would be prudent to spend a little time educating yourself about risks and benefits of renting. Wong’s article is a good place to start.Wishing you well,
Daniel R. Murphy
Educating people for building wealth, adapting to a changing future and personal development.