Is It a Good Idea to Rent Out Your Property?

    Today, I’ll discuss some pros and cons to renting your property, whether you’re a homeowner or looking to sell.

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    What are the advantages and disadvantages of renting your property either as a homeowner or as someone looking to sell their property?

    The Advantages:

    • The more tenants living on your rented property, the more value it has to investors. There’s nothing worse than having investors showing up to your high-rental property to discover that no one is living there.
    • Having seasonal tenants will limit your expenses as a homeowner. This is because you know that the renters are going to clean on their own and pick up utilities. This will put good, hard cash back into your pocket. Similarly, weekly rentals will maximize your dollar intake.

    Weekly rentals will maximize your dollar intake.

    The Disadvantages:

    • Having tenants can limit opportunities to show your home.
    • Tenants don’t always take ownership of the home. They won’t necessarily keep up the curb appeal or be particularly clean, which won’t be good if you’re showing the property to buyers.
    • Buyers don’t always want the responsibilities of having tenants.

    If you have any questions or would like more information, please feel free to reach out to us. We’d be happy to help you!

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