đ»Pros of Long-Term Rental Properties
Stable Income:
đ»One of the major benefits of renting your property long-term is that you know exactly how much youâll earn every month. This allows you to calculate your return on investment and plan your finances.
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đ»No Utility Bills:
Once your tenants have signed the lease, you wonât have to pay for water, electricity, or the internet anymore unless stipulated otherwise in the contract. And this can help you save a lot over the years.
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đ»Less Time-Consuming:
Sure, managing a rental, whether short-term or long-term, is time-consuming. Yet, with a long-term rental, you donât need to clean the place regularly, restock, or handle small maintenance tasks such as changing the bulbs. You donât need to manage bookings either, and you only have to advertise when a tenant moves out, which makes the process less time-consuming than with a short-term rental arrangement.
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