Should You Become a Landlord?
Have you ever thought about becoming a landlord? Now may be a good time. The Urban Institute released a report with data detailing how the number of baby boomer renters is going to spike in the next 15 years. Because this phenomenon is a once-in-a-lifetime opportunity for property owners and landlords, you can think about the benefits and costs associated with renting out a property.
The number of baby boomer renters is expected to more than double from 2010 to 2030, so weigh your options to determine whether or not you should invest in rental property, becoming a landlord.
Why you should become a landlord
Why you should not become a landlord
Despite the drawbacks, however, it can be a great opportunity, and it’s worth thinking about. The number of seniors living in rental units is expected to go from 5.8 million to 12.2 million over the course of the next two decades. Because this trend is something every property owner and landlord should pay attention to moving forward, it’s also a unique opportunity for you to become a landlord and cater to this growing population of baby boomer renters.
A plan to invest in a rental property to work as a landlord could pay off over the next few years, so decide today whether or not this occupation is right for you to help secure your financial future. If you want to explore investment properties, give us a call.
Powered by HomeActions for Laura S. Rossinow, Broker, Keller Williams Realty, Newton, MA