This type of rental guarantees a fixed income for two or three years and the property owner can enjoy the peace of mind of renting the property to the same tenants for a long period of time.
Another advantage of long-term rentals is that the initial investment is not as high as the investments made in properties for temporary rentals, since the tenant will live in the property for a long period, thus he generally makes little ameliorations and improvements. Furthermore, the tenant has his own furniture, cooking utensils, etc., and the property owner does not pay the building maintenance fees nor the costs for services consumed (gas, electricity, water, etc.).
To rent a property for 24 or 36 months, the owner requests for a guaranty from the tenant in order to be sure that all monthly rents will be duly paid. In general, the guaranty is another property belonging to a tenants relative or trustworthy friend. Thus, if the tenant does not pay the rent or destroys the property, the owner can collect the rent and cover any expense.
In the same section:
After Buying
If the new owner bought the property to rent it, he should make sure that the property is in good conditions to offer it in the market. Following these pieces of advice is very... [Read more]
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24-Month or 36-Month Rentals << you are here
This type of rental guarantees a fixed income for two or three years and the property owner can enjoy the peace of mind of renting the property to the same tenants for a long... [Read more]
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Temporary Rentals
Even though the initial investment in properties for temporary rentals is higher, monthly income is far superior. However, temporary rentals require an active participation of... [Read more]
