Long term renting benefits

Investing in real estate is one of the best ways to earn extra income. Real estate is very diverse and it needs lots of strategy and planning from anything ranging from fix-flips through key properties to space rentals. The biggest question to be asked is: What are some of the best ways to make money in real estate? If you would ask different real estate dealers this question, you are bound to hear a lot of answers. However, the most asked question would be, to invest in long-term rentals.

Long-term rentals are called rental properties that are purchased for long-term leases. One of the most common ways to invest in real estate, but it is one of the most lucrative ways. There are many benefits of long term renting and here are some as follows

Continues cash flow

The bread and butter in any rental property is continuous cash flow. In that sense, having continuous cash flow means to have profit after the expenses have been paid from rental income. From long-term rental investors, the goal is to have continuous cash flow which is quite achievable.

As long as the tenant is going to be secured for a long-term lease and expenses are paid off, you can have continuous positive cash flow. If at all you are interested in looking for long-term rentals with continuous cash flow, you can search on the myrsa website for empty property spaces.

Appreciation

Not only you can receive immediate profit with long-term rentals through continuous cash flow, you might even earn profit through appreciation. Long-term investments increase their value over time. If you are planning to sell the property wherein you have invested after several years, you could earn a huge profit.

Related Topic: Short term renting benefits

Consistent rental income

When you start investing in short-term rentals, rental income is not reliable as you would like. Many factors come into the picture like seasons, location, tourist attractions, etc. These factors can influence long-term properties as well, one thing for sure, long-term rentals generate continuous rental income. Tenants interested in long-term properties can plan for staying in that location for an extended period. This leads to sign them long-term properties leases, which enables stability and consistency for you for rental income.

Tax benefits

You might hate dealing with the tax forms. If you are interested in Long term renting, the responsibility of tax forms would come in handy. These types of benefits allow them to get involved in real estate. So, if you are investing in long-term renting, these advantageous deductions would be just another one of the plentiful benefits you are receiving.

Market change

The real estate industry is dynamic and has a million changes when it comes to property value that will increase or decrease over time, and the rent prices will likely increase. With long-term rentals, the rental market trends will improve the property value and rent. The rent prices uptick as time goes. Long-term rentals can also be as an inflation hedge.

Bottom line

Long-term rentals are considered the best real estate investment opportunity out there that can benefit you. They are some flexible options available, that you can benefit from actively and passively. Long-term properties offer some tax deductions. Investment is one of the smart ways to wipe off the debt and be ready for a retirement plan

July 9, 2021 0

Short term renting benefits

Many people might look to rent their empty spaces for a short period. But there might be some people who are unaware of the benefits of short-term renting, not just for space owners but also for tenants. So are you considering short-term rental? We can think of some of the great reasons to test this. Many advantages that can be kept in mind. Let’s get those all on the table. The pros of the short-term renting platform.

Flexibility– You can choose days, weeks, and months to rent a space. There are many options to benefit from space while you can enjoy and one of the options would be, while you are traveling at the drop of a hat, you can make money while you are gone.

Give more privacy and more space than traditional hotels- Short-term renting can be considered perfect for families. There are times that families need a short-term vacation plan for weekends. Renting a villa is one of the best options for earning extra revenue.

Brings more cash than long-term renting- The math for it is pretty easy, 1 vacation per week would cost 15,000 Vs 15,000 a month to rent for a year. It will help you earn more in a week than what you will earn in a whole year.

The deductions– There are many common deductions for rental owners. The cleaning and maintenance that comes in the picture. Hiring a full-time housekeeper would also include it. Maintenance, Insurance, Utilities are just among them. With all these deductions you could record a whole lot of loss and avoid taxes altogether.

Tax breaks- The best home-related tax breaks go to short-term renting owners. Before you get into the tax detail you should know the tax laws of your state.

Wear and tear on the property- When renters are going in and out frequently, there can be small repairs and damages that can be taken care of before they turn into big problems.

Social benefits- There are many people and opportunities out there that space can be used for social benefits too. One of such things includes travel and tourism. Your next short-term rental acquaintances can turn into lifelong friendships.

Earning potential- Short-term renting can be extremely profitable as a property manager you can keep changing the price as you see fit depending on the demand. If there is a music festival or a popular sporting event in the town you can easily double or triple your regular price in that period. Travelers are expected to pay premium prices over holidays, special events, and in the high season, so this period can be considered a jackpot for you as you can make the bulk of your income during these times.

Contribution to the sharing economy– We hear a lot these days about sharing economy and its positive effects on society. By giving the property to short-term vacations, you are showing that you are an innovator who would help you contribute to the modern way of living and thinking.

Property management– Advancements in technology such as smart apps and smart locks have made it easier to manage vacation rentals even if you are not living nearby.

July 2, 2021 0

6 Spaces That You Didn’t Know Could Make You Money!

In your hustling days, your 9 to 5 job and that too if you stay in a city like Mumbai, the traffic it takes up your whole day. In all of this, if you even contemplate about being an entrepreneur preferentially making some extra funds it is actually troublesome. Although what if I tell you can earn money without putting in much energy. All you have to do is see around you! In this blog, we are going to look at all the spaces that can you can earn from.

If you’re a landlord or just looking to make money with real estate, it’s essential to understand how to manage a property in the right way. As a property manager, notably as a first-time landlord, you’ll be forced to wear many hats. How you control that property is going to either make or break your chances for success.

Entrepreneurs have become fixated with rental property and not just long-term rentals. The emergence of Airbnb and the eager rush to convert condos and homes into short-term, temporary rentals has the real estate world reeling. If you’re seeming to get into the fray, heed the advice from property managers who are dominating the short-term rental game.

While short-term rentals are on a constant rise, they have been a source of income: passive income. Real estate is an excellent illustration of one of the >best ways that we can create a passive income from a real-world asset that increases in value over time. The best part? If it’s a section of your own property that remains vacant, you can still receive the rental income. Music to your ears, right?

Well, what’s not so apparent or straightforward is particularly how you go about managing that property. If you don’t have the time, no problem. Myrsa will help you. Myrsa is an online platform where you can find potential brands that would want to use your space. List your space on the website and send an enquiry to brands that can use your space. The brands will then contact you. It’s as easy as that!

Here are some of the spaces around you that you can give out for temporary renting.

Garden

Garden areas are on a huge demand right now. They have endless opportunities. Being an outdoor area and the natural ambience, people find this the perfect place for their activities. You don’t use your garden areas that often and rest of the times they remain vacant. From a small yoga class to a big event everything can happen in this area. As Myrsa provides you with the temporary renting program you can set the time when you would like to rent out your garden area.

Parking Lots

Your empty parking space can be given a whole new perspective. Parking lots in residential areas or commercial areas are huge and you can earn a lot from these. Usually, you will observe that they remain empty for the utmost of the day. Additionally, you can rent out a part of your parking lot and use the other half for parking. Activities like exhibitions, small stalls, food trucks, pop-up shops and even educational events can be held.

Open Ground

Bunch of events and things can take place at your Open Garden. Parties, Weddings, Exhibition, Flea Market, Food Fest, sports event and many other events. Brands that need your space can contact you. An open garden can be a great source of income for you.

Halls

Halls are utilised by people every now and then for any sort of event. Small parties to grand celebrations can all be held in your halls. Myrsa helps you to take your booking online. Brands will easily find you to carry out their events and you can have a new event every day. Even yoga classes or dance classes can be held during different hours in your halls.

Auditorium

Auditoriums usually remain empty most of the times. Offices today are more inclined to hold seminars in offbeat places to keep their employees motivated and for them, your auditorium spaces can be one of the spaces. Let out your auditoriums for different types of seminars, events and even for small movie premiers. Upcoming artists can also use your auditoriums to practice their performances beforehand.

Cafeteria

Cafeterias are something you must have never thought of about earning money in any another way. But the free spaces in your cafeterias can be very useful to some. You can give out your cafeteria space for rent to potential businesses. Food tasting activities, new product testing or even small stalls for newspapers can be in your cafeterias. You can even rent out space for atm.

All these can become your extra source of income. Watch out for more blogs to know the amazing spaces that you can earn money from and that too on a temporary basis.

January 8, 2019 0

Apply These Techniques To Improve Listing Space

Dedicated to helping Myrsa’s hosts generate interest in their space.

For Myrsa’s hosts, it can be amazingly worthwhile to share your space with productive customers while generating additional revenue. Myrsa helps owners let out their Temporary Vacant Spaces on Rental that fits the needs of potential customers. While it can be exciting to know how to present your space to highlight its specialties and perks, there are some methods that help ensure you generate adequate interest in your space.

We’ve gone through our data to share our top tips for Listing Your Space.

Always Be Unique

When you are thinking of listing space, make sure you describe your space in an excellent way. Consider all that factors that make it different from others. Don’t shy off and avoid any tiny details that describe how special your space is. Don’t take some features of your space for granted. Try and describe it with fresh eyes. Like do you have plenty of natural light? A killer outdoor space? Always keep in mind to highlight the specialties of your space to help them do so in style. As this would attract your customers.

Think as a Buyer

The buyer will always want to know how your space will satisfy their needs. Whether they are looking for a one-of-a-kind location or not. They are least interested to book a space with inadequate listing information. Be accurate and describe how your space can be used in different types so it helps the customer plan a potential booking. Describe the conveniences provided, possible seating arrangements, electronic capabilities, and dining accessibility. These are the some of the key features a customer will be looking in your space. As this would help them in Finding spaces.

Show your space in action

While perfectly expressing your space it is significant, that you actually show your space in action. High-quality photography is the best way to draw the attention of the potential Buyers. Photos of your space will give the buyer a perfect idea about your space, so make sure it is awesome and enlightening. We recommend you include photos with a mix of shots of the vacant space and the space being used. This will allow the customers to imagine how their event will fit into space and understand it in a better way that whether if it can suit their needs or not.

Still, have more queries about how to list your space? Myrsa’s Team is always available to help you get the most out of your space.

Here are some additional ways that can help you improve your listings and showcase your space.

1.Perfect Your Listings
2.Highlight Conveniences
3.Pro Photos
4.Unique Features
5.Seating and Setup

So go ahead and List Your space like a Pro!

September 5, 2018 0

Category: Listing Space