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Which Things to Know Before You Buy a Rental Property - CIRCL

Before you buy rental property, consider 3 things: The expected amount of rental income, the annual expenses you will deserve, and the risks that may come along. https://www.circlapp.com/instant-messaging

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Which Things to Know Before You Buy a Rental Property - CIRCL

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  1. 3 THINGS MUST KNOW BEFORE YOU BUY A RENTAL PROPERTY Before you buy rental property, consider three things: 1. The expected amount of rental income. 2. The annual expenses you will deserve. 3. And the risks that may come along. www.circlapp.com

  2. 1. ESTIMATED AMOUNT OF RENTAL PROPERTY INCOME: When observing for rental property find out how much rent is reasonable to assume given the location and quality of the property. • You must consider the expenses you will deserve as a property owner. •

  3. 2. ANNUAL EXPENSES OF HAVING RENTAL PROPERTY: You can break property expenses into both fixed and flexible expenses. Fixed Expenses - You will have recurring expenses such as annual property taxes, insurance, routine maintenance and repair items, and the cost of any property management services. • Flexible Expenses - Remember to set apart funds for major unplanned expenses such as replacing the water heater, air conditioner or heater, roof, fencing, flooring or plumbing. •

  4. 3. RISKS OF BUYING RENTAL PROPERTY: Before you buy rental property, consider the following risks: Your property could be seated empty between renters, take down your overall return. You could sustain legal expenses should you need to kick out a bad tenant. • You could sustain extra repair costs should a bad tenant cause damage to the property. • Rental property can provide a established source of income, but like any investment, you need to understand what you are getting into before you buy. •

  5. ADDITIONAL RESOURCES ON RENTAL PROPERTY: If you are considering investment property, I would highly recommend you visit CIRCLAPP website for Rental Property. • Unlike many of the popular websites on rental real estate investing. Instead, in a very practical way he spells out exactly what it takes to have success when investing in real estate. •

  6. CONTACT US Suite 703, 481 university avenue Suite 703, 481 university avenue Toronto, ON, Toronto, ON, M5G 2E9 M5G 2E9 Phone no.: Phone no.: 1 1- -800 800- -707 707- -8154 8154 Email id: Email id: support@circlapp.com support@circlapp.com @ @meetcirclapp meetcirclapp www.facebook.com/meetcirclapp www.facebook.com/meetcirclapp www.youtube.com/meetcirclapp www.youtube.com/meetcirclapp https://www.circlapp.com/instant-messaging

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