An Era of "Land"lords and Serfs?
From the Desk of Cindy
An Era of “Land”lords and Serfs?
Almost everything I hear and read speaks to how bad home ownership is right now. It seems the world is telling everyone to rent. Why is the drumbeat to rent getting louder and how should you approach it? Renting has its time and place. I think renting for the long term is one of life’s biggest mistakes. Renting for the short term fits if you are in the middle of a life changing event; a new job, a move to a new city, a new relationship, attending school, or some other event that has a 6 to 12 month adjustment period. For these reasons, there is a need for rental property and this may be the perfect time to own rental property for investment purposes.
With this in mind, if it is being decided the world should focus on rentals thus returning us to a “land”lord and serfs era, why not be a landlord? Some benefits of rental property ownership include the benefit of depreciation and tax breaks that rental developers receive. Right now may be the perfect time to invest in rental property, especially property that caters to the “essential housing need”. Combine long-term investment strategies, a hedge against inflation, and tax considerations, being a landlord right now is worth considering.
If you are an investor looking for opportunities or a current landlord looking to cash out on long held properties, call me. I would love to continue this discussion with you.