Listing as a Rental Business
There are several benefits to owning a rental property, one of the main attractions being that it can provide a source of passive income.
Property appreciation
For some landlords, pride of ownership may be part of the allure. It can be rewarding to be able to confidently manage and make decisions concerning the property you own.
How it works
Step 1
Signing up through our secure portal is quick and easy. In just a few simple steps, you’ll be part of the #1 destination for businesses and professionals looking to find new clients..
Step 2
Complete your business listing. Prospective clients will have all the information they need to feel comfortable choosing you.
Step 3
Here’s where the magic comes in. Our millions of visitors are actively searching for a business like yours at the exact time they're ready to hire you.
Benefits of a Rental Business
A good rental property strategy will not only build immediate cash flow and provide a long-term retirement strategy, but it can also create some incredible tax benefits if you plan wisely.
Passive income
Perhaps the biggest benefit to owning rental property is that it’s a passive income source. This means that it is recurring income that requires relatively little effort to maintain. It can be an attractive option for people looking to make some money on the side, or even as additional financial security during retirement. Additionally, rental income may be taxed differently than employment income.
Greater security
Some people have to make a temporary move for work. Others inherit a family home that they don’t want to sell for sentimental reasons. There are a variety of reasons that people may find themselves with an empty property. A vacant home is potentially left open to vandalism and squatters, and maintenance issues gone unnoticed that can quickly escalate into larger problems. It’s hard to always keep an eye on a home you aren’t living in. Renting the property out to tenants can give you greater peace of mind that the home is being maintained and watched after.
Flexibility to Sell at High Rate
Say you’re ready to move, but the market conditions aren’t the best. Rather than selling your property for a loss, you can rent out your property until market conditions improve. Renting out your property gives you the flexibility of selling once you’re in a better position to make a profit off your property.
Option to move back
You may find yourself unable to stay in your current residence due to financial or other reasons. If you need to make a temporary move for a job, it’s nice to know you’ll have still have a place to live when you return. Of course, you’ll want to check your area and local housing laws and respect the terms of your lease with any current tenants.
Property value appreciation
Renting out your property now allows you to hold onto your property in case it appreciates, giving you the option to sell when the time is right. The amount of appreciation is going to vary by market. Research the appreciation potential of different cities and neighborhoods to see what you might be able to expect.
Keep this in my
- The rate you charge for rentals will be determined by the state of the property
- A developed area will most definitely give you high returns on rent
- Always have a lease agreement
- Add separate utility units for electricity and water if possible
- Use Biiz Hub to find transport when moving, builders, electricians. etc.
