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by avuserow
3775 days ago
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Some don't, and it can make sense. If you rent it out, then you have to be a landlord, which puts you on the hook for repairs, finding tenants, and collecting rent or evicting them. There's always the possibility of tenants trashing the unit to a large degree. Some of these problems become way worse when left untreated for a week, a month, or longer. I can imagine it making sense for foreign investors to leave units empty in these circumstances. In a similar vein, it's not just foreign investors. It might also make sense to leave the grandparent's house empty while they are in the nursing home if you live further away. If the grandparents don't need to sell the house to pay for retirement, you'd probably come off cheaply enough to leave it empty, pay the property tax and minimal utilities, rather than risk having tenants. |
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I imagine that there are companies that do exactly that for you taking percentage of rent you'd get if you done all that by yourself. I also imagine there are insurances for landlords and/or investors. There's so much money in this when you approach this as investments (as opposed to not renting your grandfather house because it's too much of a bother to clean it out and think about) that I imagine no sane investor lets their property, they just bought to stand empty.