Rental properties like apartment and condominiums are developed to give returns. Continuous income is one the reasons why rental properties are the most popular investment options.
If you’re looking for a good investment, income properties could be the right option for you. Below are the top benefits that might make you consider investing in rental property.
You are your own boss.
It can become tiring to wake up early in the morning every day to go to work. With a rental property as your source of income, you can be your own boss. You own your time and there won’t be a need to head to the office. This will give you time and freedom to do other things you want to do.
Steady flow of income.
Rental properties are cash flow properties. Owning a condo or apartment unit and renting it out assures you monthly income. Rental income, less tax and maintenance costs, will be your own money. One thing you have to remember though is to carefully choose tenants, making sure they diligently pay the rent.
Properties can increase in value over time especially if they are situated in favorable locations. Those that are located in developing areas have the highest possibility to increase in value. For this reason, you need to select investment properties carefully, taking into consideration their appreciation potential.
Certain expenses can be deducted from your income to reduce your tax. Such expenses can include maintenance and upgrades, property taxes, mortgage interest, insurance and utility bills (if included in the rent).
In the Philippines, Cebu is one of the best places to invest in rental property. The island city is rapidly growing with many new developments in the works. The Mactan International Airport, for example, is currently being upgraded into a resort style airport – the first in the world.
If you’re planning to invest in a condominium in Cebu, Philippines, check out the units at Kiener Hills. Our units are located just a few minutes from the airport and a walking distance from various business establishments. At Kiener Hills, you won’t have to worry about your property as they are professionally managed. Contact us to learn about your rental income options.