Long Island Renting Advice

Long Island apartments can be rather expensive to rent and time-consuming to find; however, there are ways to make the process at least a bit easier to understand. The first thing that renters need to know is that most apartment complexes have non-refundable application fees and security fees. Before an individual can even consider moving in, they will have to undergo a background screening, credit, and reference check; there are usually fees associated with these checks as well and rarely will refund be given on any screening.If an individual passes the preliminary screenings, they will have to give the apartment manager a security deposit, as well as sometimes the first and last month's rent upfront. While the security deposit might be refunded when the tenants move out if there is no damage done to the apartment- the first and last months' rent will not be refunded.

The credit check will determine how creditworthy the renters are and will factor into the deposi…

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The Benefits of Renting vs. Owning

The American Dream is the goal of homeownership. This decision has many factors to consider before making this life-altering choice. You could do more harm if you take this step before really considering the pros and cons involved.

Homeownership has its own set of positives and negatives to think of. The same goes for renting. We will go over some of these points below:

Pros of Owning: Mortgage interest is normally tax-deductibleFreedom from landlords and superintendents, which means much more privacyThe potential to build equity if the market goes in a positive directionIf you have children you will have the comfort of knowing which school district they will remain inThe ability to make improvements that will make your home more enjoyable and give you the possibility of increasing equity Cons of Owning: The possibility of losing equity if there's a recession or market declineYou will need much more money for a downpayment and closing costsThe…
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