A tenancy agreement is signed when renting a house and is a binding contract between you and the landlord.
Many rental houses are bought in areas that have a consistent supply of tenants and are rented out for much more than the cost of the mortgage.
When renting out your house take time to research rents in the area.
To keep costs down before committing to a mortgage, consider renting a house.
By renting a house you can easily find and afford your dream house without any commitment to a mortgage.
Apart form the higher rental cost, renting a house is similar to renting an apartment or flat.
A drawback to renting a house is that you are usually stuck with any decisions made by the landlord.
A house rental will require regular maintenance and attention. Be prepared to use qualified professionals when needed.
Renting a house is a great business opportunity that million of people have taken advantage of to gain a large steady income.
The main disadvantage to renting a house is that the rent you pay goes to the owner of the property and nothing is for yourself is gained other than a place to live.
It is predicted that the strong interest in the Buy to Let market will continue. See our Top 10 Buying to Let and Renting Tips.