San Joaquin Homes Community Blog

Talking Points

• As home prices decline, mortgage rates rise, and more uncertainty about the housing market abounds, more would-be home buyers are opting for rentals.  However, new costs associated with renting – not to mention the increase in rents – is making renting less than the bargain it appears.
  
  
• For former homeowners, renting often means living in a smaller space – which means larger furniture and non-essential items often end up in storage.  At one popular storage facility, the popular 100-square foot unit can cost up to $270 per month, depending on location.
  
  
• Anecdotal evidence suggests that more landlords are requiring tenants to sign up for renter’s insurance, according to the Insurance Information Institute.  A typical policy covers a tenant’s possessions and pays for hotel stays and additional living expenses in the event a rental is destroyed or seriously damaged.  Premiums usually range between $100 and $300 per year, and vary based on location and amount of coverage.