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Why Renting out your Property is the Way forward;
Owning and renting out your property is increasingly a choice investment for more real estate Investors in Nigeria. Despite the perceived risk of the housing market, the outlook is favorable to become, or continue being a landlord. Though selling is still a valid option, the benefits of renting oftentimes outweigh the advantages to selling your property.
Here are the reasons why:
If you can consistently rent your house out for more than your mortgage payment plus other expenses, you will grow a profit over time. However, that’s not always the case, so landlords turn to annualized tax benefits, real estate appreciation and refinancing opportunities to make up for any monthly or short term shortfalls. And if you eventually sell your property when the market is good, you can create great returns on your investment.
Protection Against Inflation
Owning a rental property is a safe investment and an even better asset that can make money during periods of high inflation. It gains value when inflation is high and creates cash flow from renting during any economic period. It’s really a win-win.
Forced Retirement Plan
Sometimes we lack discipline to save or put monthly deposits into retirement accounts. Owning a rental property is a commitment that you are required to manage and maintain for the long-run, hopefully well into retirement. A rental property can help you build larger returns in equity and cash flow.