Wouldn’t it be nice to own a vacation house in your ideal location? You have a place to escape to when you want to take a break from the hustle and bustle of the big city. You can also save money from the costs of hotel accommodations while feeling at home. But most importantly, owning a vacation property or a rest house is a great way to invest. Your vacation property can be a good source of additional income when you open your doors to vacationers and tenants, and when you reap its money-saving tax deductions.
If you are currently investing in rental properties or just about to take the plunge, you will need to consider hiring a property management company.You like the idea of having rental income, however you might not be ready to quit your job to manage your investments full time. Often, your rental property is on the other side of the city or as far as another province.The responsibility of maintaining your property can become overwhelming.You might want to hire a property manager.
Before hiring a property management company you need to have an idea about which services you will leave to them, and what you will do yourself. Do you want to collect rents? It may sound easy – it’s not.You must know the Landlord Tenant Act thoroughly or your tenants could take advantage of you. What if something needs to be repaired? Can you have it fixed within a reasonable time frame?If the property is close by you can keep an eye on it. Some landlords spend more time looking after their real estate investments than they do at their full time job! Continue reading
Home loans are constant additional burdens and stress that everyone wants to get rid of as soon as possible. In addition to the fact that you would no longer have to pay a decent amount from your salary in the form of a home loan, the peace that you experience just by the thought that the house you are living in is completely yours is beyond comparison. This is why people try to figure out quicker and easier ways to pay off their home loans. Have you ever thought of an investment property to do this? Continue reading