It’s no secret that rental properties can be a great investment, but they can come with added risks and expenses. It is more and more common to hear that people are adding rental properties to their portfolios to generate extra income while also having another career. Other people may also choose to make this industry a full-time career. As with many big decisions in life, most people looking to break into the rental property industry will have to weigh the pros and cons. One of the biggest deciding factors for rental properties will be the anticipated expenses, especially in the beginning when you are looking to start getting reservations from your first guests. Some of these expenses can include maintenance costs, utilities, property management, and hospitality product upkeep.
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