What are the benefits of holding a property vs. selling it?
Leasing a property can be a great option for those looking for a more flexible and potentially profitable alternative to selling. Here are some key benefits of leasing a property:
- Consistent income: As a landlord, you can count on a steady stream of rental income to supplement your other income sources.
- Flexibility: Leasing a property allows you to keep the property as an investment and use it as a source of income without the commitment of selling it.
- Tax benefits: There are various tax deductions available for landlords that can help offset the cost of owning and maintaining a rental property.
- Appreciation: If the property value increases over time, you stand to make a significant profit when you eventually decide to sell.
- Control: As a landlord, you have more control over who lives in your property and how it’s maintained.
- No need to find a new property: If you are an owner-occupier and you’re looking to move to a different location, leasing your property can be a great way to keep your current home and generate income from it, without having to find a new property to live in.
Overall, leasing a property can be a smart financial decision for those looking for a flexible and potentially profitable alternative to selling. It may not be for everyone but for those that it is, it is a game changer for creating long term passive income and wealth.