Pros of renting

● It is cheaper to rent than to buy. If you require a bond of greater than 50% of the value of the property, your bond instalments will generally be higher than the rent you would pay for the same property;

● Renting is more flexible. It is quicker and easier to end your lease by either giving notice or waiting out the remainder of your lease term than it is to sell a property;

● The maintenance of the property, such as a burst geyser and repainting every five years, is generally the landlord’s responsibility;

● As a tenant, you do not have to worry whether your investment has been a good one or whether the impact of surrounding developments, taxes and legislation on your property’s value; and

● You do not have to tie up your capital in purchase costs, transfer duties and taxes and maintenance.