Most rental owners now own their properties primarily as a source of income, including 57% of owners who are actively reliant on their rental income to pay their bills or fund their retirement. (This stands in contrast with the Accidental Landlords of the previous decade, who had more personal reasons for owning their rental properties—often homes that they’d inherited or used to live in.) With only 1 in 3 small-portfolio rental owners reporting that their properties are consistently profitable, increasing their income while lowering their costs is top of mind, though the current environment presents considerable challenges.
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