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!