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Landlord-ing 101

Here’s an interesting read from FindLaw.com that talks about the ‘Perks of Being a Landlord’. Click here to read the article.

The main points of the article describes how owning a rental property can have some perks…that is if you can afford to purchase a rental property.

Here are some main points from the article:

  • You can receive income from rent (from owning a rental unit, however not all rental income is profit-take into consideration property taxes, mortgage payments, repairs etc.)
  • Not necessarily a stable income (if the unit remains empty due to major repairs, or un-rented if the rental market is on the slow.)
  • Certain things such as interest, depreciation, repairs, travel or a home office could potentially be deducted from your taxes. 
  • You can be your own boss!
While some landlords are happy to manage their own rental properties, others who have multiple properties find it valuable to hire property managers.  If you are looking to hire a property manager please feel free to contact us! 
206-250-7367
mapleleafmgt@gmail.com
Enjoy the weather!
-Kit & the MLM team
Posted by: mapleleafmanagement on February 26, 2015
Posted in: Uncategorized