3 Important Benefits of Having a Long-Term Rental

House for rent concept : Model house with a paper tag with chain, depicts a payment for temporary use of a property owned by another owner, tenant unwilling to pay full price, avoid burden of upkeep.

Village Properties knows that owning a home can be pretty beneficial, but did you know that having a long-term rental can seem daunting to many. We have come up with three significant benefits of owning a long-term rental. When you use our long-term rental team, we will share some of our secrets with you. Let’s look below at those three benefits of having a long-term rental in the area.

Market Changes

The woman's hand caught a small house on the coin pile. coins to buy a home concept concept for property ladder. A small house on a pile of coins And have a financial chart.

One of the best benefits that we have seen this year is how quickly the market can change. Right now, is the perfect time to purchase a home as you may require a 2nd home in the area. With that said, allowing Village Properties to assist you in making that home into a long-term rental for you. As the market continues to grow, property values will continue to increase. This, in turn, means that rental prices could go up, which means that your long-term rental will appreciate over time.

Plan for Retirement

Another benefit of putting your home into our long-term rental program is getting to plan for retirement. With a steady flow of income from your rental, you will be able to pay off debt more quickly and save for retirement. Many people these days don’t see the return on the investment of owning a second home and renting it out longer than one year, but we do. We want to see you succeed as a homeowner and be able to retire and not work forever.

Appreciation

Mature Female Friends Standing In New Luxury Fitted Kitchen
 

We wanted to share the last one with you as an appreciation that goes hand in hand with a consistent rental income. We want to make sure that your home continues to appreciate and having a renter in your home will help do that. By allowing us to be your property management team, we will continue to watch over your home, and if any repairs need to be done, we’ll be sure to let you know.

While there are many other reasons why having a long-term rental is essential and the benefits you’ll reap from it, we wanted to share these. If you are still thinking about placing your home up for long-term rental, give us a call. We’d be more than happy to answer any questions you may have about the program!

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