You Must Know Before You Buy Rental Property – CIRCL

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You Must Know Before You Buy Rental Property

• Before you buy rental property, consider three
  things
• The expected amount of rental income.
• The annual expenses you will deserve.
• And the risks that may come along.

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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.

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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.

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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.

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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.

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Contact us

• Suite 703, 481 university avenue
• Toronto, ON,
• M5G 2E9
• Phone no. 1-800-707-8154
• Email id  support_at_circlapp.com
• 
  _at_meetcirclapp
  
• www.facebook.com/meetcirclapp
• www.youtube.com/meetcirclapp

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