Investing in property to let could prove to be a safe and profitable investment, if managed correctly. It is not a 'get rich quick' type of investment, and should be viewed as a long-term commitment.
Finding the Right Property as an Investment.
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Tips on Successfully Letting Your Property.
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Rental Income Tips. Regarding Rental Payment… Here are some guidelines:
Things That Could Go Wrong:
Tax Implications. Any rental income received becomes part of your personal or business income which means you are liable for tax on the income received. Certain expenses can be written off against the income you derived from the rental. Please consult a tax adviser to assist you when doing your tax returns. Insurance Cover to Protect Landlords. Certain Long-term Assurance Companies are providing insurance cover for landlords who want to safeguard themselves in terms of rental income losses and legal costs due to defaulting or absconding tenants. The insurance policy will cover a certain amount of the legal costs as well as a number of months rent to assist the landlord financially during the eviction process. |
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