The History of Rent - 1852 Words

Land has been necessary for human survival since early civilization. Man has used rent in order to produce vital items for survival. Land has served as the backbone for producing clothing, food, and a place of living. We may take advantage of these commodities that wouldn’t have been possible if it wasn’t for land. Land holds great contribution to humankind and has played a great part in many generations before us. The hunter-gatherer role is a simple example of how man has used land as a tool for his own growth. Rent was created out of the need for land. Rent has been around before any economic theory was used to theorize it. The Latin word rendita was used to refer to a return (Keiper, 1961, p.3). The first theory of rent was seen in the late seventeenth century. The mercantilist economists created some central theories to theorize rent even though it wasn’t one of their more important worries. The history of the theory of rent can start with the mercantilists. Sir William Petty, one of the first major contributors to the mercantilists’ theory of rent, can accredit a lot of his work to the influences of Thomas Hobbes. His first major contribution in 1662, A Treatise on Taxes and Contributions, refers to rent as a net return on land used for livestock and agriculture. He explains: Suppose a man could with his own hands plant a certain scope of land with corn, that is, could dig, or plough, harrow, weed, reap, carry home, thresh, and winnow so much as the husbandry of thisShow MoreRelatedThe Other Civil War1176 Words   |  5 PagesThe Other Civil War If we read deep into Zinns A Peoples history of the United States, we may find details into our American DNA. Where and what we originally come from, what it took to get here, and how far we have progressed. While uncovering many chapters in the book, I found myself going back for more of Chapter 10: The Other Civil War. As for myself, I was never aware of another Civil War, only familiarizing myself with one. As I was reading these historical pages and awing at my foundersRead MoreHome Ownership And The Foreclosure Crisis996 Words   |  4 Pagesforeclosure during the recent economic downturn in the US economy. These former homeowners became renters as the national home ownership rate dropped. Many families felt that home ownership would remain out of their reach due to previous foreclosure history. In addition, losing your home and transitioning to renting is tough on your psyche. However, as rental rates continue to increase and the economy recovers these same families now se e possibilities of home ownership again. The housing market hasRead MoreBuying A New Property Management Companies1468 Words   |  6 PagesAdministration’s (FHA) Back-To-Work Program, â€Å"The participant could buy a new property in as few as twelve months following his foreclosure or short sale.† (www.heraldtribune.com) The ‘rent-to-own’ option is a great and promising option for ‘boomerang buyers’ to regain homeownership. First off, it gives these buyers time. Generally, rent-to-own lease agreements range from one to three years depending on their negotiated terms; this can coincide with the imposed waiting periods. Meanwhile, these boomerangRead MoreRental Rent : A Rent1653 Words   |  7 PagesWith home prices still at an attractive level, a way for buyers working to repair their credit is to leverage a â€Å"rent-to-own† agreement. A rent-to-own agreement is a contract that allows a potential home buyer to pay an agreed uponmonthly rental amount to live in a given house. But beyond simple home rental privileges, the agreement also appliesa predetermined amount of the rent toward a down payment to ultimately purchase the home at a later date, usually in around three years. So while a buyerRead MoreRent Control Of The United States1601 Words   |  7 Pages Philippe Bouchereau Prof. Kaycea Campbell Economics 2 11 May 2016 Rent Control in the United States Rent control is a law that places a price ceiling on the amount of rent a landlord can charge a tenant. People from middle and lower income brackets tend to benefit from rent control, while people from the upper income brackets do not. The whole purpose as to why rent control exists is so that tenants from the lower income groups are not exploited by â€Å"greedy† landlords through government interventionRead MoreThe Emotional Impact Of Losing A Home On Foreclosure1048 Words   |  5 Pagesbetter prepared to own your next home, think of this as a learning experience. There are many options to home ownership, such as a rent to own home, building equity while renting a home. Most options have positives and negatives and weighing your options are veryimportant. Always remember your history is exactly that, history, so past employment and references are your history. The emotional impact of losing a home to foreclosure can be a devastating hit on personal confidence and self-esteem. I wouldRead MoreBuying A House After A Foreclosure Crisis863 Words   |  4 Pagesa mortgage. There are multiple strategies for buying a house after a foreclosure. In all of these strategies the families must be determined and hard working. The first is the rent to own option. The rent to own option requires prospective buyers to pay a monthly rent to the homeowner with a portion of the rent going towards purchase of the home at a later date. Usually this will last 2-5 years before the standard home purchase contract goers into effect. This option is good for the sellersRead MoreThe On The Foreclosure Crisis850 Words   |  4 Pagesagain with some more creative financing options. Many sellers are turning to options such as rent-to-own or seller carrying the contract with a down payment as well as buyers borrowing against existing retirement and life insurance accounts. The rent-to-own option is one that very desirable for potential home buyers as well as sellers. They are able to live in the home that they desire to own and all rent payments that are made are put towards to the future mortgage similar to a buying a car. TheRead MoreThe Economic Crisis Of Boomerang Buyers1478 Words   |  6 Pagesforeclosed property (Rent-to-Own/Lease with an Option to Buy) is a viable option to take steps in buyingfinancing a home. Therefore, with distance (minimum two years) between the prior foreclosure event and locating a potential new home, the â€Å"boomerang buyer† is facing the opportunity of a lifetime to buy a home again(Martin). Current boomerang buyers† are opting to rent-to own as a possible way to procure a home.According to an article, entitled How to Buy A House Using A Lease, â€Å"Rent-to-own is a goodRead MoreMarketing Segmentation for Rental Business1361 Words   |  6 Pageseach refrigerator; even though the retail price of a pre-rented refrigerator will drop, being able to rent such a fridge even a few times before sale will increase the ROI per unit. Marketing Segment The segment to which Koolie Kool is targeting its rental services is twofold: (1) middle and lower-middle class families who cannot afford to own a refrigerator outright, but who can pay modest rent-to-own installments on a refrigerator; (2) more well-off but cautious buyers who wish to test a refrigerator