3 Reasons a Rental Property Can Make a Great Investment

Rental properties can make you a great deal of money. You just need to take the time to maintain the property and find renters who always pay on time. Though most people know that rental properties have the potential to make them money, many are still hesitant to take the time to get a rental property. They may not know just how easily a rental property can make you money. Here are three reasons you may want to invest in rentals.

1. Can be Hands off managed – this is a great benefit because not everyone has time to micromanage or be an in state landlord for their rental properties. Instead, you can take the time to hire a manager such as AZ Residential Management that can manage the day to day operations and you can sit back and relax knowing the job is done by a professional company. This gives you the freedom to go about your business while still making a rental income and only getting involved when there are issues that need to be resolved by the property owner.

2. Can make Passive Income – your rental properties, though from time to time you might have to do some work to it, have the ability to make what is referred to as passive income. Many months when you are not doing any repairs or needing to put in any money to resolve issues, they are making passive income. This means that you are making money simply by owning the properties. This means you can make money while doing little to nothing which is highly desired by many rental property owners.

3. Tons of Tax Write Offs- there are also tons of write offs that you can take from your rental properties which is going to help lower your overall tax liability and is also going to make your rental properties worth even more. You can write off improvements, costs of your managers, costs of employees, contracts for work on the properties, and even the cost of cleaning up after a renter leaves. This means that even though you are making money with your properties, it is not all being reported as income and can be balanced out with the help of the write offs that you and your tax preparer write against the properties. This means you are going to have a better opportunity to make more money.

For those that want to learn more about the benefits of rental properties or services to manage their existing rentals, you can visit https://www.azresidentialmgmt.com.