Do you have a commercial property investment UK? Are you planning or at least considering leasing it out? If your answer to both questions is a resounding yes then you’ve come to the right place.
We’re giving you a rundown on the various perks and advantages to renting out your investment. Take a look and see for yourself.
- It provides a steady income stream. – Monthly rental collections provide you with a good source of income. For many people, this gives them financial freedom. While others use leasing as a means to add more inflow to their pockets apart from their regular day jobs, others do it round the clock as their permanent source of living.
- You retain ownership of the asset. – Renting out is different from selling despite of the fact that you’re not the one directly using or occupying the space. But what’s great about the former is that it allows you to retain ownership and the title to the asset all while earning income from it as mentioned previously.
- You may choose to sell it later. – Since you retain ownership, you have all the liberty and discretion to sell the asset in the future should you wish to and should all contracts expire. You can do so for a profit too which is very attractive. Many investors go down this route when they find better investments to put their money and efforts on.
- It helps with your taxes. – A good number of expenses that you incur for renting out the space can be considered as tax deductible thereby lowering the dues for you to pay. You’re going to ask a professional for this though because different areas and circumstances will reveal different allowable deductions.
- It pays for your mortgage or loan. – The steady stream of rent income you earn can be used to pay off the mortgage or loan you took out to acquire the property. In essence, you’re not taking out resources from your pocket anymore which is a good thing.
Leasing out your commercial property investment in UK sure sounds like a good idea by now but you must also put into account the costs attributed to it and the work too. Make a cost-benefit analysis and weight things over. After all, it’s never going to be the same for everyone as varying sets of factors will lie ahead.
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