Landlords A long term rental property is a type of property where a renter rents it for an extended period of time – usually more than a full year. In a nutshell, this means that a person will be renting the property for a definite length of time. Furthermore, depending on how long the tenant has signed a lease agreement with his/her landlord, the property might come fully furnished or with no furniture at all. It is also common in many cases to find such properties with extra facilities and amenities attached to them. These can include air conditioning, security systems, water heaters and even health clubs. There are various ways through which you can use this type of investment property, and a very popular way through which people utilize this strategy is by signing up for a long term rental strategy. Such a strategy is basically a contract between you (the investor) and the landlord (the person who is renting the property). It is often also known as a lease with option to buy or a lease with an option to subscribe. It basically gives the tenant the choice of either opting for a short term rental strategy or investing in a house themselves. Why would a tenant opt for long term rentals? The main reason behind it is purely economical. In most cases, when a person leases a property for an extended period of time, there is no need to repair the house or carry out maintenance. Rental income is generally high and there is plenty of money left over after taking care of the expenses. This means that investors will generally earn more from this type of investment property. As long as the property, be it a house or an apartment, has adequate rental income, there is no need to spend on repairs, maintenance or furniture. Another major benefit of long term rentals is that landlords can attract more tenants. They will have a bigger chance of getting a good return on their investment. In case of short term rentals, there are plenty of tenants moving around, making it hard to get a good occupancy rate. If the property does not have sufficient rental income, then the landlord would not be able to charge a decent rental fee or get a good return on his investment. For those who want to invest in a property for long term rentals, it makes sense to look for a property that has a decent occupancy rate and good rental income. Besides attracting tenants, landlords can also enjoy tax benefits. For long term rentals, landlords can take advantage of property management fee exemption and property taxes. Property management fees and taxes are always included in the income of a tenant. If the tenant decides to move out, the landlord will not need to pay any eviction fee or property taxes. The other advantage of long term rentals is that they can help a landlord build a stable rental income. When a landlord rents out a property for a long time, he will start building up some rental income. Eventually, this will lead him to become less reliant on a main income. As a result, he will be able to free up funds to increase the purchase price of the property and buy more residential properties. You can get more information about rent apartment phuket.