Question:

Won't there be a glut of vacant properties when everyone discovers the advantages of owning rental property?

by Guest728  |  11 years ago

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Won't there be a glut of vacant properties when everyone discovers the advantages of owning rental property?

 Tags: advantages, discovers, glut, owning, properties, property, rental, vacant, Wont

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  1. Guest728

     Firstly, let me remind you of the number of people who take any step towards becoming financially independent – there's such a small percentage of the population in the running to buy rental property. Secondly, people have been renting property since time eternal, and with more than 30% of the population renting, and this percentage increasing, tenants will not disappear overnight. There should always be a pool of tenants looking for rental accommodation and it's up to you to make your property most desirable.
    Supply and demand in rental properties is cyclic and vacancies can and do occur from time to time. However, the baker doesn't expect to have customers in his shop every minute of the day from early morning until night and having a property vacant for a time is par for the course. But there are certain things you can do to keep this time to a minimum. Choosing the right property in the first place helps and well-located, well-maintained properties with reasonable rents attract more tenants.

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