2007-01-31 09:47:48 · 13 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
net income = gross income - overhead
it all depends on the base numbers
2007-01-31 09:52:41 · answer #1 · answered by ? 3 · 1⤊ 0⤋
That is a hard question. Personally I think you have to draw the line somewhere when it comes to people claiming benefits. Benefits should only be payed for say 2 children.....if you have any more no more money for them unless you have payed enough into the system ie for people that lose their jobs through no fault of their own etc. When the cap comes in move to a smaller house if need be if housing benefit does not cover the rent. I have got to say though I don't know anyone on benefits who this cap is going to affect(and I live in London so house rental prices are expensive). I think the government are milking this a bit and making it seem like many people on benefits have all this money and this great life with 26,000 a year when in reality that is not the case.
2016-05-23 23:53:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Depends on where you live, as real estate values are radically different from place to place. A 1500 square foot house in Southern California might cost $350,000, while the same house in Indiana might cost $140,000. I guess that you might average 15% to 20% higher rent than your mortgage payment per month. But figure in maintenance on the house, taxes, your time, etc. You can make a fair amount of money being a landlord, but you really need several properties and be able to devote time for mainantence and hassels with tennants, too.
2007-01-31 09:57:42 · answer #3 · answered by GeminiVirgo1971 5 · 0⤊ 0⤋
I'm sure the amount of money you could make depends on the types of property you are renting and the area of town the property is located in. Personally you couldn't pay me enough to want to deal with the headache of being a landlord.
2007-01-31 09:54:24 · answer #4 · answered by Am I. Incognito 3 · 1⤊ 0⤋
If you are a property manager for an apartment complex, usually free rent is part of the deal. If you are a landlord because you own a property, it matters how much the mortage is.
Being a landlord isn't really an occupation, it is a life responsibility.
2007-01-31 09:52:35 · answer #5 · answered by Keep It Sane 3 · 0⤊ 0⤋
people make money as landlords by owning a house and then renting it monthly for more than their mortgage. So if their mortgage is $900/ month, they might be able to rent it for $1,300/ month. in that case they would make $400/ month.
The thing is, people who own homes and then rent them out need to budget for property taxes, possible repairs to the house, liability insurance, etc.
being a landlord is just like having a part-time job in alot of ways. you have to be available to your tenants if there is an emergency, and you need to be able to understand contracts and local, state, and federal laws regarding landlord regulations in your area.
Many people get into this thinking they are going to get rich, and then find out how hard it is, and how much responsibility they are taking on and wind up wanting to get out of it.
2007-01-31 09:55:34 · answer #6 · answered by johntindale 5 · 0⤊ 0⤋
The AVERAGE PERSON will not make money as a landlord and should not try to be a landlord. It takes skills and the right attitude to make money as a landlord. ...as well as hard work.
Do not settle for being an average person - in any field you decide to make a living in.
2007-01-31 11:53:02 · answer #7 · answered by teran_realtor 7 · 0⤊ 1⤋
That depends on how many houses you own outright, how much the rent is in the area, how much maintenance you have, and how reliable your tenants are.
2007-01-31 09:51:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Completely depends on where the property is located at.
2007-01-31 09:50:35 · answer #9 · answered by ~**Athena's Mommy**~ 3 · 0⤊ 0⤋
depends on a lot of variables. area and market at the time.
2007-01-31 09:51:01 · answer #10 · answered by Anonymous · 1⤊ 0⤋