Augusta
VIP Contributor
it is of utmost benefits to owned rental property.it will help you make passive income and even help in wealth creation. But like every good thing it comes with some issues that can hamper the success of the benefits of having a rental property. This issue needs to be known to help nip it as soon as possible.
The major issues are;
Investing in an undesirable rental property
· one problem one can encounter is Investing in a property that need more money in maintenance and other money gulping problems togix it than money gotten from it as rent. Example could be investing in a property situated in a always flooded area
Extended vacancy periods
Another issue is having users that hardly move out when they should. They used up some periods without the intention of paying.
Economic downturn
This is how the influence of impact of the economic situation at the time making the amount for a rental property to be cheap. People wouldn't be willing to pay more due to a negative economic situation.
Unexpected maintenance
Another issue is that of maintenance. it does happen when not expected and it can be a huge challenge especially when what needed to be fixed cost a lot.
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The major issues are;
Investing in an undesirable rental property
· one problem one can encounter is Investing in a property that need more money in maintenance and other money gulping problems togix it than money gotten from it as rent. Example could be investing in a property situated in a always flooded area
Extended vacancy periods
Another issue is having users that hardly move out when they should. They used up some periods without the intention of paying.
Economic downturn
This is how the influence of impact of the economic situation at the time making the amount for a rental property to be cheap. People wouldn't be willing to pay more due to a negative economic situation.
Unexpected maintenance
Another issue is that of maintenance. it does happen when not expected and it can be a huge challenge especially when what needed to be fixed cost a lot.
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