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Many rental houses are bought in areas that have a consistent supply of tenants and are rented out for much more than the cost of the mortgage.
Over time, a rental house is likely to increase in value and capital appreciation can be gained as well as a steady rental income.
The main disadvantage to renting a house is that the rent you pay goes to the owner of the property and nothing is for yourself is gained other than a place to live.
When renting a house find time to walk through the property with the landlord and make a written note of anything that looks out of order before signing a tenancy agreement.
A tenancy agreement is signed when renting a house and is a binding contract between you and the landlord.
When renting a house check your city or town regulations. There may be rules on which rooms in a house may be used for renting.
Consider renting a house similar to borrowing a book from the library. The house should be ready for you when you move in and should be returned in the same condition as you found it.
Try to make your tenants feel at home, when renting a house it’s beneficial to have the tenants staying for as long a possible.
In general renting a house is a lot less complicated than buying.
A house rental will require regular maintenance and attention. Be prepared to use qualified professionals when needed.
With the continuing growth in the housing market, it still Buying to Let or Rent seems a good bet as an alternative to a pension fund for retirement funding. 19th August, 2006
It is predicted that the strong interest in the Buy to Let market will continue. See our Top 10 Buying to Let and Renting Tips. 26th August, 2006
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