- 3 Reasons Why Renting Is A Beneficial InvestmentJune 6, 2018
Renting out the second home is considered as a wise investment option due to the myriad of benefits it offers. From being a long-term investment option that yields profits to a source of regular monthly income, the benefits of owning a second home and renting it out is many.
Check out the below list of advantages on renting out a second home
1. Home loan repayment
The monthly rental income from the second property can be attributed to paying off the home loan EMIs. This will lessen the financial burden while also making a worthy investment out of renting.
2. Regular maintenance
A property lying vacant is prone to damage and deterioration in the absence of regular maintenance. When looking after the second property becomes a challenge, it is best to rent it out so that it will be taken care of by the tenants. Apart from that, monthly maintenance charges like electricity and water will also be paid off effortlessly.
3. Tax benefits
Giving the second home will also make the landlord eligible for a tax rebate. Income from rent is taxable as it is considered a part of the total income. However, if the second property is purchased on a home loan, a tax rebate can be claimed by subtracting the amount received as rental income from the annual interest rate of the loan.
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