With THIS You’ll Make A Business Out Of A Rental Property
Thursday Mar 02nd, 2023
Subjectively, converting a rental property into a full blown business is like baking a chocolate cake topped with strawberries …
But objectively, it’s not as easy as you may think.
Though, it is sustainable and less risky than most investing businesses…
Let’s look at some of the essentials to harmoniously convert your rental property into a sustainable business.
1. Maintaining the records of the properties you own. You should maintain and list down the records that are associated with your property.
2. Whether you maintain the property yourself or hire a contractor, managing it regularly is the key.
This means you need to perform maintenance services for around 250 logged hours.
3. We understand that you might be busy or bound by other responsibilities so it’s better to hire a property manager to do the services on your behalf.
These are 3 simple tips that help you convert and manage your business without hiccups.
Sade Sanni, Broker of Record.