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Old 11-03-2010, 11:52 PM
 
1 posts, read 1,242 times
Reputation: 10

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My wife and I just bought a condo in Scottsdale and are considering renting it out as a vacation property for the busiest times and using it ourselves when not rented out.

Would it be easier to rent to a local person for the long term?
Benefits:
-Don't have to furnish condo or supply cable,tv internet
-Constant income
-Not as hard on the property
-Cleaning is up to tenant

Disadvantage:
-We won't be able to use it anytime of the year


Any thoughts?
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Old 11-04-2010, 09:10 AM
 
Location: Scottsdale, AZ
2,155 posts, read 5,190,965 times
Reputation: 3304
Sounds like you did not have a plan before you purchased.

Rental property is an investment. You need to decide which options provides the best return. If you just want to rent it to friends a few weeks that is very different than leasing the entire year.

Your financial situation will better dictate what you should do. As a rental there are income and tax implications you need to consider.
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