CON: No control over price
With the cost of living only increasing as the years progress, one can expect other elements of living to follow suit. This includes rent. Each year that your lease is up is another opportunity for your rent to increase. The truth of the matter is those who control your home can make changes to the price (within reason of course) which can mean more dollars coming out of your account. Unlike a mortgage where you can pay a fixed amount over time, the chances of your rent increasing is just about guaranteed.