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Renting vs. Owning: Making Informed Housing Decisions

renting vs owning
To rent, or to own, which decision is best for you?

The choice between renting and owning is a significant housing decision that individuals and families must make. In this blog post, we’ll explore the pros and cons of renting and owning, assisting readers in making informed decisions aligned with their lifestyles and goals.

Advantages of Renting:

  • Affordability: Renting is generally far more affordable than owning. Tenants aren’t burdened with repair costs, property taxes, landscaping, etc.
  • Budgeting: It’s easy to budget when you have fixed expenses. All you have to worry about is monthly rent and expenses, there are no surprises.
  • Savings: This enables you to utilize your savings for other investments instead of utilizing it for the downpayment on the house. While you’ll see the house as an asset under home ownership benefits, there are other investments to put your money in, and who says you can’t buy a house somewhere more affordable and become a landlord?
  • Flexibility: Renting provides flexibility, which is great if you are unsure of the future, enjoy travelling, are prone to moving or job changes and more. Simply provide your landlord with notice, pack your bags, and continue the adventure of life in another location.

Advantages of Owning:

  • Stability: Owning provides a stable living environment for you and your family. The concern of a landlord selling and evicting you is not weighing you down.
  • Forced Savings: While many will argue that owning your primary residence is a bad investment, in lieu of being savvy with knowing where else your money should go, it has proven to be a great forced savings and appreciating asset over the last couple of decades. The key is to not get carried away with over-improving it and diversifying your money in other assets. A primary residence can easily become your only asset, and relying on one thing to retire is not fun, especially if your plan includes uprooting yourself out of your family home to cash in.
  • Freedom: Most rental agreements require tenants to get authorization from the Landlord or Property Management company before completing any work. At the chance that you’re stuck with a difficult landlord, not being able to decorate your home or install a TV could make it challenging to settle in and feel at home.

Factors to Consider:

While there’s no cut-and-dry answer to what the best scenario is, there’s plenty of evidence out there saying that you should rent the house you live in, and own the house you rent. The idea is that your living expenses are lower and predictable, and your money is working for you. This also means that the house you own not only generates income, but it creates tax incentives. Don’t want to be a landlord? Well, we can help with that 😉

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Critical Condition Report

It’s in the name! A critical condition report includes detailed photos, expiry dates, model numbers and more. It must be done at your earliest opportunity, and ideally, before a tenant moves in.

This report provides a reference for future inspections, assists in litigation, and minimizes future repair costs.

Rent Collection

Stop chasing payments!

Our electronic rent collection system collects rent automatically and tracks it through our mobile app. 

Tenants who pay through other methods will still have their rent deposited through Renti, tracked in the mobile app, and electronically deposited into your account.


Income and expenses in the palm of your hand. 

There’s no more need for spreadsheets, sticky notes, or late-night number crunching.

Monitor live data on your rental income and property expenses, and print custom reports for the annual tax season. 


Not all properties are alike, and some require a third party to assist with general maintenance such as replacing furnace filters and topping up of water softener salt.

Whether it’s a unique property or your personal preference, let’s discuss your needs and how Renti can help.

Tenant with keys

Tenant Locating

We’re happy to cooperate with your real estate agent, or you can let us handle everything with one of our preferred real estate agents. Learn more about our proven process to qualifying tenants below.

Property Visits

Included with Renti’s standard property management services is one annual visit, as well as a move-in and move-out inspection between tenants.

If you require additional visits, whether for personal preference, to perform regular maintenance, or to satisfy your property insurance policy, we will coordinate visits on the fly, or at set intervals.

Property Manager Doing Taxes


Leave the complex tax paperwork to us! We will handle your monthly remittance and annual NR4 forms, ensuring you’re always in compliance without the stress.

Timely and Accurate Reporting: No more deadlines to remember. We take care of everything on time, every time, providing you with peace of mind and avoiding potential penalties.

Ready to simplify your non-resident withholding tax responsibilities? Contact us today.