Landlord-ing 101

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!

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