Many people may have been wondering if this is the opportune time to put themselves in debt and buy a property for investment purposes. For those who already have rental properties, the question becomes this: with all the economic insecurity people from all walks of life face, is using real estate as a form of passive income still a reliable investment?
Rental properties are evergreen investments in South Africa. From family homes and apartments in established suburbs to sought-after coastal properties that attract a significant rental premium, this asset class offers the stability of property with the potential to earn good monthly returns as the value of the property increases over time.
If you are a rental property owner or are thinking of investing in one, bear in mind that a secondary rental property is not without its tax implications. By understanding how to declare income and expenses on your rental property, you’ll be able to take advantage of your investment without worrying about taxation difficulties. Continue reading “The Tax Implications of a Rental Property”
Ask anyone who works in property management about the challenges they face on a regular basis, and the issue of problem tenants is bound to come up. If you own a rental property, you simply can’t take the risk of entrusting your valuable asset to just anyone – while a good tenant will help keep your property in good shape, a bad one can cost you thousands in repairs and inconvenience.