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The answer depends on your financial goals, the local rental market , and how comfortable you are with being a landlord. Generate Passive Income and Build Long-Term Wealth Renting out your home can create a steady stream of passive income, which can help cover the mortgage, property taxes, insurance, and maintenance costs.
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Practice proactive risk management strategies like robust tenant screening and maintenance plans. Implement proactive risk management strategies like robust tenant screening and preventive maintenance. Additionally, incorporating preventive maintenance strategies is key to controlling costs and extending the life of your property.
Moreover, it’s 48% higher than the homelessness rate in 2015. Property owners must reinvest in repairs and maintenance costs to keep them in good condition. Landlords and property investors would pay attention to these trends to protect their investments and make the right purchases moving forward.
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