Seeking financial stability? Maybe it's time to explore the untapped potential of long-term rentals and pave your way to a prosperous future.
With nearly 35% of households in the U.S. renting their homes, there's a strong demand for rental properties - and that's great news for homeowners like you!
Armed with this insight, here’s what I tell aspiring landlords as they start out on their long-term rental journey:
• Location, location, location. If purchasing, choose a neighborhood with high rental demand and desirable amenities to wow quality tenants. Think about proximity to schools, parks, public transportation, and popular attractions. If you’re renting a home you own, a high-demand location will help you raise the rent.
• Set the stage for success with smart upgrades. Make cost-effective improvements that enhance your property's appeal. Fresh paint, updated fixtures, and modern appliances go a long way in pleasing tenants and driving up rental income.
• Protect yourself with a...