Rent is money individuals pay their property owners to live in the owners’ housing. It’s often paid monthly and accounted for when creating a budget.
What is rent?
Many young investors opt for renting property when they first move from their parents’ homes. It’s generally more affordable than buying a home and more flexible. For some investors, however, the decision between renting a property and buying a property can be a difficult one. Owning a home comes with tax benefits and investment growth, but it’s also a significant commitment.