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    The benefits of rental property

    Posted by Faruk on February 7, 2018
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    Investing in rental properties is as old as the practice of land ownership. You buy a property or properties and then rent it out to tenants.

    You become the landlord responsible for paying the costs of maintaining the property.

    Usually, you would charge enough as rent to cover all of the costs associated with owning a rental property as well as a profit portion, hence the need to do enough research about the rental value been charged by landlords in the area, who have the same property.

    Owning a rental property automatically leaves you having a fixed rental income yearly or monthly. Generally, properties appreciate in value over time, leaving the landlord with a more valuable asset.

    The not-too-enticing aspect

    There are, of course, blemishes on the face of what seems like an ideal investment as you can end up with a bad tenant who could damage the property or, worse still, end up having no tenant at all.
    This could leave you with a negative monthly cash flow.There is also the matter of finding the right property. You will want to pick an area that is conducive for people to live in, also, choose a place that people will love to rent.

    CHECK: PROPERTY FOR SALE IN LAGOS

    Perhaps the biggest difference between a rental property and other investments is the amount of time and work you have to devote to maintaining your investment.

    When you buy a stock, it simply sits in your brokerage account and, hopefully, increases in value.

    If you invest in a rental property, there are many responsibilities that come along with being a landlord.

    You must be actively involved in the maintenance and running of your property.

    However, you can employ the services of a professional manager which doesn’t come free of charge.

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