What are the Expenses for Rental Property?

[Suba]

It seems that owning property will be very profitable, apart from the property value continuing to increase every year, we can also make passive income from tenants by renting out property. However, as property owners, we also have to take into account the costs that must be incurred on the property that we rent to tenants. So we need to set aside or allocate funds to fund property expenses such as:
1. Property maintenance costs, whether in the form of a house, boarding house, shophouse, apartment, etc.
2. Repair costs due to property damage.
3. Costs when no one is renting the property, we need to pay electricity and water subscription fees.
4. Property tax costs

 

[eLdavis]

This is one part many people fail to realize, your property will not even increase in value if there is no proper maintaining and upgrades being carried out.

 

[King Belieal]

In the rental property that I am living in, I have to take up the cost of periodic painting and fixing of electrical installations.

 

[freelancermaria]

Bear in mind that setting aside a portion of your funds for unexpected expenses such as repairs and maintenance is indispensable. These costs can add up quickly and may be quite expensive, so it is best to be prepared.

 

[Starmix]

Maintenance is very important in a rental building whose occupants are all students like electricity, water, telephone and the entire building itself. It must insured against fire.