I get an error saying socket bind failed for: /var/run/renderd/renderd.sock if i am a regular user else everything works fine?

I came across almost the same problem you had. As far as i see there may be two causes behind this. Try run again with

sudo -u 'username' renderd -f -c /usr/local/etc/renderd.conf

after applying one of suggested solutions. Substitute 'username' for name of user running renderd:

Cause #1 missing writing rights

You probably have no writing rights to /var/run/renderd/renderd.sock file.

Solution for you would be changing owner of the directory :

sudo chown 'username' /var/run/renderd

and / or changing owner of the file by typing

sudo chown 'username' /var/run/renderd/renderd.sock

,where 'username' stands for user which will be runnning renderd.

Cause #2 missing directory

I have got almost identical error message as you.

In my case I was missing the /var/run/renderd directory. Solution in my case was creating /var/run/renderd directory and then changing its owner:

sudo mkdir /var/run/renderd
sudo chown 'username' /var/run/renderd

,where 'username' is user, which will be runnng renderd.