- free and painless snow removal (the photo reminded me!)
- all utilities included (even basic cable and HBO)
- high speed internet discount
- basement storage units
- covered parking
- on-site 24/7 maintenance and management
- discounted washers/dryers (even vending machines in the laundry rooms)
- dog park on the complex grounds
- bbq area on the complex grounds
- no limit to the # of pets you can have (helpful when you have 3 cats and 1 dog)
- ability to paint without permission, and update fixtures (with mgmt approval)
- option of a studio, 1 or 2 bedroom (which was helpful for me when I needed more space)
- rent discount for referring a friend (has also come in handy, as I've been trying to recruit all my friends to help me 'take over' the complex')

and all in an historic adorable 3-building complex across the street from the governor's mansion in the 'old money' neighborhood of the city.

love love love my place!

No unexpected maintenance ruining my budget for the month, plenty of time to think about what I want in a future house based on how I use the space I have now, two swimming pools with picnic tables and grills which make a great place to have a party without making a huge mess in my home, a gym that's basically right outside my door so it's easier to motivate myself to go and plus I'm not spending hundreds of dollars a year for the privilege, getting to live in a lovely safe neighborhood right next to half-million-dollar houses (I could never afford to buy in this area).

Im not a renter but I remember....
-No mortgage
-No condo fees
-No maintainence concerns (just call the super, owner)

Thats the only difference I see.

more space at a cheaper per month cost than a mortgage (though, we lose some tax benefits for renting, in this state).
free heat, water, snow removal.
two garage spaces (in a city where one car garages are the norm)
basement storage
walkable neighborhood

My perks include having an affordable place in a neighborhood with a great community school, walking distance to many restaurants and a farmer's market, no utility bills, no snow shoveling, no appliance repair responsibilities, etc. But the best perk is that my landlord gives my son free saxophone lessons. I got really lucky!

I get to live in a great neighborhood, walking distance to a lovely beach (I could never afford to buy there); I never have to worry about unexpected repair bills for appliances, roof, etc.... and best of all... if I need to leave... I can leave without having to go through the hassle of selling.

I really lucked out when it comes to the apartment I'm in now. I have:

- An off-street parking spot. If you live in the metro Boston area (I'm in Somerville), you know what a miracle this is.
- Timely, thorough snow removal (shoveling, plowing AND salting).
- Lovely landscaping and a well-kept yard. Really, it's nicer than most of the owner-occupied places on my street.
- A basement storage unit.
- An incredibly responsive, awesome management company, with a landlady who responds to emails promptly. (After suffering under various slumlords, she's a dream come true.)
- Same-day or next-day repair of any household issue by professionals, not "handymen" (including when it's my fault, like the time I stupidly broke the radiator cap in the bathroom - they wouldn't even let me pay for the part!).
- A gravel grilling corner in the yard for tenant use. I love cooking with the neighbors!
- All the indoor common areas are cleaned and vacuumed every two weeks.
- Free heat from the aforementioned radiators.
- All hardwood floors, and loads of beautiful original woodwork.

I'm not a renter anymore, but other than not having to worry about repairs (unless I had a lousy landlord), there weren't really any perks.

-It's cheaper to own than rent where I live
-We were never able to rent a whole house, but owning a whole house means STORAGE in the form of a basement/shed/etc., and the lack of storage is really what killed me about renting
-We had to shovel anyway as renters in our last place, and now that we own, I really enjoy taking care of the yard
-Renovating a space to be exactly the way you want it FAR outstrips any inconvenience of having to deal with maintenance yourself, IMO

We rent a house and don't have any big perks. We have our own washing machine etc, so we have to fix or replace everything. We have to do our own gardening or get someone to do it. The owners of the house live in a different country, so it's not that easy to get things like plumbing fixed. There's always a lot of back and forth emailing and unclear calls. Then they'll send a guy that seems to do everything for them and isn't very good at any of it. I would much rather be able to choose how to deal with problems and be able to get it done right away. We also really want to be able to paint and put up lots of art.

Renting might be different in the states, but I live in the UK and renting isn't bad. Although I'd like to own the house I'm in, I never have to worry about replacing anything in the house. I've been allowed to add my own touches to the house, paint walls, wall mount the 50" tv etc... It's pretty perfect to be nest, the only downside being I don't own it.
Any problems are just an email away, problems with boiler, fire and garden have been sorted with no problems.

Worry-free while on vacation-- the people upstairs pick up the mail (in return for the same favor while I am away) they would immediately be aware of a break-in or a pipe busting, etc.

they are away*

I don't know what neighborhoods you are living in, but in mine- heck, there was no including utilities, water, cable, etc, included in the rent. There was no benefit to renting versus owning, My husband and I rented one side of a duplex before we bought a house- and renting a short 8 months was long enough. The unit was new, the land lord was dandy- it just wasn't our bag. We lived next to the woods, which was great- except that the yard was covered in ticks. The snow removal, etc, everything else that is mentioned here- sure our land lord would come plow the driveway- but my husband loves his snowblower. We almost had our basement flood when the sump pump failed our first winter there (caught it just in time) and sure a land lord would have had to take care of the issue if we rented our home- but seriously, we love our house and our neighborhood! Wouldn't change it for the world. There is just something about knowing this place is "mine" (and if I want to paint the walls 100 different colors, I can)

I guess if you like to move around a lot, renting is easier, but if you were looking to settle down, owning sure is nice.

as a renter,
-save $ on property taxes
-save $ on homeowners insurance
-save $ whenever the septic tank or plumbing fails or other major repairs
-can move to someplace bigger/smaller as your needs change, without the long-term committment

Washer/Dryer in a rental seems like a BIG perk in apartments in upstate NY! So not much benefit there, the rents are high, space is really at a premium where I'm at, and I have horrible land lady who is not keen on doing any repairs. I'm new to the east coast and renting here seems like a nightmare!

Maintenance and lawn care top my list! I don't have to worry about either, so I'm free to focus my time and money on decorating the interior. I'll buy a house some day, but for now, I'm loving the freedom of renting.

I am am owner now (SF bay area), but what I remember fondly about renting was just how carefree I was about repairs and natural disasters. Earthquakes? Bring 'em on. Cracks in the walls? FUGGEDABOUDIT.

Our house is 3 levels, in the hills, and we just experienced our first earthquake the other day. We were both immediately out of bed, and my husband spent the next hour trolling through the house looking for damages. And this was a teeny-size 4.3 quake.

In NYC it was pretty simple. As a renter, I was able to give a party in my own home without worrying about the nutcase on the board.

My landlord has allows me to do repairs as needed and take off the rent. Last month our refrigerator went out. He let us go ahead and buy a new fridge (scratch and dent for $447) and keep the remainder of the $600 rent to replace all the food that was spoiled. :) Likewise we don't have to pay for the new carpet, mailbox, deck stain, or anything else we will need to do to the house.

- Living in beautiful old buildings that I would never be able to afford to maintain. Case in point-- my building needed a new boiler this winter, for heat and hot water. Yikes.
- Living in a beautiful neighborhood that I could never afford
- Responsive maintenance
- And the most important... I live in MN and haven't touched a shovel in years!

I feel like this varies a lot depending on where you live. I live in downtown Washington D.C., so my biggest perks are free laundry, a free spot to park my scooter in the garage, all utilities included and a front desk that is staffed around the clock. I live in a co-op building, so all maintenance is taken care of. The neighborhood I live in, homes and apartments sell for outrageous amounts, and the upkeep is often astronomical because many of the homes are historic. I don't have to worry about any of those things and my costs are relatively low (all things considered).

The best perk of renting is less responsibility! My family had to move while still owning our house and it has taken us two years to sell it. A huge burden was lifted from my shoulders on closing day.

We now rent a town house with a lot of storage and permission to paint the walls as long as we re-paint them white when we move out. When coupon mailers come in the mail it is so freeing to throw away the ones that pertain to roofing and siding repairs, lawn maintenance and handyman repairs! Yea!

We are saving money. Our town house is 1500 square feet with an attic and a lot of closets for $950 month. We have 2 designated parking spaces and only one neighbor on the side of us.

We rented a condo in a ski resort. During one colossal blizzard, the crew shoveled the parking lots and walkways (including our front steps) three times a day for the duration of the storm.

I don't rent anymore but the advantages I see are:

less responsibility in general

cheaper monthly costs and depending on the market it sometimes makes more sense to rent.

no commitments. You can just pick up and leave when the lease ends. Many people like to move around a lot and not settle down.

I suppose we have a perk of not having to shovel the sidewalk in the winter.

However, I'd really much rather own a place at this point. Our landlord refuses to repair anything that's broken, and most times refuses to acknowledge that the problem even exists. I wish I could just fix things myself, but I have no desire to drop money on a new (boiler, air conditioner, dishwasher) appliance if I'll have to leave it behind when I move.

I rent in a beautiful and safe neighborhood, and my small building is nestled between two $1M+ homes, so I get to look out at their beautiful yards. My rent is lower than what I would pay monthly in association fees and taxes on a similarly sized and located condo, and I don't worry about upkeep. I do have to pay for laundry, but I just run accross the street to my friends' place and do it there while I sun myself in there yard.

I'm lucky, but I guess it all depends on where you are.

The biggest perk for me, as a renter, was not having to deal with maintenance and I got to live in a house that I could otherwise not afford. Unfortunately, we had lousy downstairs neighbors that ironically drove around with "Coexist" bumper stickers but clearly didn't didn't understand the meaning of the word. I wasn't allowed to paint the walls, we were still responsible for all utilities and we frequently had our parking spots taken, leaving us nowhere to park. We decided to buy a house because the buyer's market is so good in our area. My mortgage, including taxes and insurance, is lower than my rent. I'd much rather be a homeowner but I think it's a highly personal choice and really depends on your stage of life and future goals.

Aprildeann,

Where do you live?

The only perk for me is the ability to choose where to live based on RIGHT NOW. Our current flat will not suit us in a year or two, but RIGHT NOW it's perfect. If we were buying, we'd have had to choose a place that would work long term.

My landlord hooks me up with pro baseball and basketball tickets sometimes.

The most wonderful neighbors I could want, plus the assurance that they're never moving out. Neither am I. We're long-timers because we all have great low rents and rent-control to protect them.
Nothing makes a place into a home like having neighbors who become a second family.

I want to add -- in addition to the peace of mind during natural disasters, renting a spacious apartment in a historic mansion was definitely fun. The mid-century place we bought is adorbs, but architecturally far less interesting than the large creepy 1908 basement, dramatic velvet-covered staircase, unpainted wood built-ins, etc. of the mansion. We could never afford to maintain something like that.

Former renter who bought in a cheaper neighborhood near by last year. I see peace of mind and location as the key benefits of renting. I used to be able to walk to the metro (rented just outside of DC) and was blissfully unaware of all of the infrastructure and O&M involved in keeping up the apartment building I lived in. "Free" maintenance service was just a phone call away 24-hours a day. I now own in a suburb that only has a small group of stores within walking distance. However, I love the house I own (well, I co-own it with the bank) and feel much more connected to my community.

As a renter, I had no perks other than no responsibility when something broke. Rent here is only $100 cheaper than my mortgage on a similar sized condo so why not buy and make my own rules?

I will never, ever go back to renting. Knowing I have my place until *I* decide I don't want to live there anymore is peace of mind that a mortgage buys me.

Letting someone else take care of everything is nice, but in the end it feels to me like money thrown away.

I once rented a small one bedroom that included utilities and cable all for $650.00, in San Diego. The kitchen was so small that the oven door and refrigerator door wouldn't open all the way. Renting that unit was way better than owning. I thought I would live there forever. The landlord wanted to move in and renovate all four units at the same time or I would still be there.
Now I own and my living costs have tripled. Talk about culture shock.

Some of the perks of that apartment:
4-plex
Nice neighbors
Next to a park
Off street parking
Front door and back door
Big private deck
Accepted pets

Renting benefits: Some lawn care freedom (I've lived in both situations)
No worries about major costs for sudden repairs
Flexibility (my boyfriend and I are considering taking the next step, but we both own homes, which makes moving in/marrying more complicated)

Owning benefits:
Renovate and remodel as I see fit
Major tax benefits, even though I do now pay property tax (which are ridiculously cheap where I live)
Building equity (I know I won't get every cent I put into my house payments/improvements, but I'll get a lot of it back. My mortgage payment with taxes/insurance is equivalent to what I would pay for rent for the same space).
Stability (I stayed in no rental for longer than 14 months; I'm going on 3 years in my house)
More space (I never dreamed of living alone when I renting, since it felt like I was throwing away money, now I love being able to afford a spare room)

This is a great series, as we're building an apartment above our garage. We're already planning on including a washer and dryer, not just the hook-ups. I'm interested to see what else people value.

I want to live where Aprildeann does!

Pros:
* Off street parking in downtown Eugene, Oregon.
* free maintenance on home and yard
* our washer/dryer combo broke last month landlord replaced it with the sweetest new set ever.
* Rent for a four bedroom/two bath home $910...mortgage: who even knows!!
* Ability to paint, change window treatments, and plant (very small yard) freely.
* no property taxes
* Great landlord who lives next door and is willing to fix anything anytime!
Cons:
- small yard
- small porch
- unable to remodel the kitchen (the cabinets need an update...bad)
- paying $910 a month on something that isn't, in the end, going to be ours

Liquidity. All those people who talk about "throwing away money" on rent don't think about what their money could be doing besides buying property. I have a significant amount of money invested in stocks, bonds, etc, that my dad manages and grows. If all of that was tied up in property, there would be additional expenses besides the mortgage that would be “thrown away” (insurance, repairs, general upkeep, taxes, etc), and there would be no guarantee that I could even sell the place if I wanted to move, even less make my initial “investment” back. Even a small increase in the sale price wouldn’t offset the greater gains made possible by investing.

And yeah, I’m young and don’t want to deal with the hassle of owning a home, and want the freedom to move whenever I want. (I’m essentially month to month right now.)

As long time renters who moved frequently due to my job, we've enjoyed all the perks mentioned at one time or another. The best was a 25% discount on rent when I was employed by the owners of one property (actually a job perk).

We've been homeowners for almost 14 yrs now. Our mortgage + insurance + property taxes are considerably less than any rent we ever paiid. The 'rent savings' is deposited into a maintence escrow account so the money is there if/when repairs are needed & there's no waiting on an unconcerned landlord. Thus far we've replaced a roof, a water heater, a washer, a dryer and a dishwasher. NONE of these items affected our budget because the funds were already accounted for.

Oh, and as our home sits on a acre lot, we also dropped 2k on a riding mower with all the bells & whistles plus had a tree removed. 'Course I might be a bit biased where yard maintence is concerned. There's no place I'd rather be than in the yard/garden. The fresh fruits, veggies & herbs are just a bonus.

All that and equity to boot.

I love our rental. Worry free maintenance, two parking spots, great management company, attic for storage that's all ours. Its a smaller two bedroom but there is a great little porch for grilling and entertaining. using the fabulous tips on this site I've been decorating and making it feel like home. Plus were walking distance to public transportation when needed, and we can walk to tons of stuff in our neighborhood.

Renting in the Boston area can be far cheaper than owning. I have never once felt like I'm throwing money away. Someday id like to own something but for now I'm just saving money every month. I don't want to buy until I can have something I really want.

I think the one advantage of mortgage is that it doesn't change. Rents rise as time goes on (even if it is rent controlled which a majority of the country is not).
Mortgage is pretty much fixed.

All these pointer both negative and positive are assuring to us readers. However, I woould like to see some plotted data that includes: Location, Price paid for rent/mortgage, amenities included (if renting).

I agree with what Kateln said about this depending a lot on where you live.

Owning for me just isn't feasible - starting out, I don't make very much money, there's no way I could buy a home at this point in my life, and probably not for a good 10 years.

And besides that, I love renting - like others have said I can live in a building and a neighborhood I could never afford to purchase in. I love the low commitment, I can move whenever I want or need to, there's so much less stress involved, and my resident manager lives in the building next door - if there's any problems he's just a phone call away. I'm reasonably handy and enjoy taking on little projects (like regrouting my kitchen, I live in a 1950's building and ceramic tile is adorable, but was filthy with the low low grout) that I can do myself, but if there's anything I need help with I can trust it will be fixed right away! And I'm on a month to month lease which is the most comfortable for me, I feel like I have a lot of freedom. I always think, worst case scenario? I move. No biggie.

It sucks when you have a landlord who isn't cooperative or a building that you don't love - but again, this is one of the reasons I enjoy renting; if I have serious issues with the landlord or the apartment, you can move. A lot of people avoid moving like the plague, which is something I've never understood if you're really unhappy where you are. Sometimes it's better to pay to break a lease than continue living somewhere that causes stress.

Yay renting!

I live in Milwaukee and people try to tell me I should buy instead of rent. But my perks include but are not limited to... never having to shovel when we have our wonderful winter storms and having heated underground parking, so never having to worry about parking when the parking rules go into effect in the winter. Also I do not have to buy a quarterly/yearly parking permit to park in front of my own house. No worries about repairs, mowing lawns etc. My mom just put out pretty penny's for a new furnace. My dad for a new roof. So every time they tell me to buy I remind them the only bills I have is rent and electricity(which is about two hundred dollars cheaper than most of my friends bills). So yes I give up some freedoms that buyers have. But I save a lot of time and money in the long run. Oh yes I also feel much safer living in a locked lobby situation being single female. I could go on and on but. . .

My apartment was invaded by hundreds of bees once. Didn't cost me a dime to get rid of them or repair the teeny hole that they came in from.

I own a house and rent a house. These are two different situations and not very useful to compare. It only feels better personally to me to own because the responsibility belongs to me. For me it's not a hassle.

If you read the news, you'd think there were no benefits to being a tenant. Landlords are part of the evil 1%. It's sad. Landlords provide tenants with a service and take a lot of risk. I've been a tenant and landlord. As a landlord, my tenant complained endlessly about all the rent he was paying and how he was going to buy as soon as he could to get out from under the oppression. We were charging him a lot less than other landlords in the building. It would have cost him to more than $1500 a month to buy a $500,000 apartment and pay the HOA fees. He didn't clean the tub once in the three years he lived there and ruined the new carpet and wood floors we put in.
I remember being a tenant. It was hassle free. I was good to my landlords. Paid rent on time, left the place clean and didn't destroy things. These days the relationship between landlord and tenant is definitely strained.

Most rentals don't allow dogs, let alone my great Dane! Guess I will be an owner for life!

Maintenance is the big one. We had a seal around a window crack so it got mildewy. I called to have it replaced, and while it took a while, it didn't cost us anything. But you know, it's really about what you're comfortable taking on. We want to buy a house and we know there is a lot of upkeep, but the rent also increases every single year.

Mortgages do not always stay the same, but unlike rentals, a homeowner can't just refuse to renew the lease.
Property taxes and HOA fees go up at random.
Maintainence, of course, and this leads to my main argument (at the moment)
If management starts to let things fall apart, a renter can just move. If the neighborhood starts to "go bad", a renter can move.
If a renter loses a job and can only find one in another city or state (or country!)....a renter can just move.

I wish I had the security of owning a home again sometimes, but then I remember the money pit it was. I'm saving more money as a renter, and have even found found property management companies that put a % of my rent into equity. Best of both worlds.

There's freedom in renting, and I could just pick up an move anytime. Which is great. And true, I don't theoretically have to do any maintenance. That didn't hold true in my previous rental. My landlord was very 'hands off' and refused to fix major health and safety issues (think major leaks, electrical) as well as minor things and I did have to do all those things myself and send him receipts. I might as well have been the owner.

As a current apartment renter, I don't have to shovel snow and have access to a gym and pool. However, my rent increased more than $150 a month in the last two years and I pay a separate monthly 'pet rent' for my medium-size terrier. I also have to deal with noisy neighbors above and below us. We just purchased a small house with a yard. It has 500 more sq feet, and the mortgage payment, taxes, insurance and HOA are $400 a month less than my rent. For that I'll paint and shovel my own snow. Your mileage may vary.

1. Being able to afford a place in a neighborhood I'd be locked out of if I decided to buy.
2. No worries about maintaining/renting a property or selling a house if I do decide to move.
3. No homeowners/flood/hurricane insurance to worry about. (Renters insurance is SO much cheaper.)
4. No property taxes.
5. No condo association fees.
6. No pool cleaning/landscaping/pest control bills.
7. No A/C or appliance repair bills.
8. Design/decor-wise, a really decent landlord that trusts that I'll take care of his property and leave it better than when I found it.

Now as a renter, I realize I'm helping someone else pay for these things and build equity in their property, but for where I am in my life right now, I'm perfectly OK with that.

Best perk I ever had was free fresh eggs when I had a landlady who kept chickens.

QUOTE: Mortgages do not always stay the same,

They most certainly do if one has a fixed rate mortgate. No surpises.

Last year, my parents hot water heater broke and they had to pay the expected Ungodly amount of money to replace it. Then a couple months later, my hot water heater broke, so I call someone and the next day it's all better at no cost to me. I love renting, and at this point in my life I am definitely willing to sacrifice not being able to have every part of my home just how I want it for not having to pay out the ass every time an appliance breaks.

*surprises* (just in case the gp are watching)

We owned a home and moved to Chicago to rent. I think about the pros and cons a lot. For me, I could never own a home in Chicago; it would be waaaaay too expensive. So that's the biggest PRO to renting. I also love that I don't have to shovel snow (even though it hardly snows here), I don't have to pick weeds, I don't have to clean gutters, or pay Homeowners Association dues and follow their stupid/arbitrary rules. Cons to renting are really that you pay so much for rent and never get a tangible reward and that you can't make all the home adjustments that you'd like.

Pro: A pipe burst in our ceiling and water poured through our light fixture and fan. The next day everything was cleaned up and we had a new light fixture.

Con: The pipe burst because our inept maintenance man had just "fixed" a clog. He has a bad track record.

Not being underwater or upside down on the morgage.

Advantages to Renting

Overall housing cost significantly cheaper than ownership.
Freedom to come and go as I please without worrying about break-ins.
Unit subject to rent regulation insures long-term predictable housing costs.
Living space substantially bigger than most condos in area.
Doorman
Snow removal
No worries about winter utility bill spikes, heat and hot water included in rent.
No ever increasing property tax bill.
No condo fees and sudden fee increases.
Increased safety in high-rise living.
Nice collection of neighbors in vertical neighborhood.
No yard work
Lack of ownership prevents perpetual renovation to unit and development of expensive renovation plans.
Maintenance issues handled by building maintenance.
No major rehab work required or planned.
No worrying about whether I paid too much for house or condo.
No worrying about existence of hidden problems in newly purchased house or condo.
No hoarding money for potential condo capital improvement assessments.
No property value loss risk
No worrying about if and when I should refinance mortgage, nor jumping through hoops to obtain the refinancing, or suffering lender excuses for refinancing application denial after paying hefty application fees.

Disadvantages

Lack of ownership limits changes I can make to unit
No real garden
Occasional muffled noises from unit above
Maintenance call response sometimes slow
No home ownership tax breaks
No garage

I live in a neighborhood I could never afford to buy in, that allows me a 12 minute bus commute to work, 8 minutes by car, restaurants to walk to, etc. I'm also renting a place with vintage details that I love, but probably wouldn't be able to buy a place like that because of the upkeep.

After owning a home for the past 38 years, I am renting again. There are 2 big benefits to renting:
1. I can now freely ignore the plethora of commercials for roofing, lawn services, flooring, carpet, doors, replacement windows, granite counter tops, new appliances, etc., etc., etc. For decades I believed without question that I "should" invest in constant improvements to my home. As it turned out for me - it was all for naught. My perfectly maintained home with all it's improvements (and no mortgage) sold at a loss.
2. I'm moving from one rental to another and I don't have to deal with Realtors, week after week of strangers walking through my home, and the angst of "Will it sell?' and 'How much will it sell for?". I just turn in my 'Notice to Vacate' and move!
I am happy to rent, and to invest my hard-earned money in a place where it will not be returned to me at a loss.

*it's near impossible for me to own in the country i live in
*i didn't need to install my sink
*i didn't need to fix the roof leak
*sometimes they send people over to do yard work for no reason
*if my life changes, my location can change ... WHENEVER I WANT

12 month commitment vs. 30 year commitment...

renter for life.