Types of Rental Properties

Options baby! Options!

In this blog, we will be talking about Types of Rental Properties. So let’s talk about it.

Single-Family Homes

are the American dream. They’re the white-picket-fence, big backyard for the family. What more could you want? They’re also the most common and abundant type of property.

Pros:

• Lots of them everywhere
• Really easy to sell, so you have a solid exit strategy
• Fewer bills are involved since the tenant pays for all utilities; gas, electricity, hydro, water, sewage, garbage
• Insurance and property taxes are generally handled by the landlord
• Easier to finance because they are so common; lots of options for lenders if your credit and income are in check
• A multi-family will call the landlord, while a single-family will call the cops, which might sound bad but what really means is that it is more hands-off
• There are no tenants in the basement and another tenant at the top having to complain about each other
• It can be rented out to families generally speaking, which are pretty trustworthy tenants, not to mention that it is less transitional than an apartment, and is more for those who have settled in