2007-12-23 04:43:35 · 5 answers · asked by Ann <3 1 in Business & Finance ➔ Renting & Real Estate
There can be various reasons but one that is common is the fact that these people have worked a life time planning and implementing a Life Plan. Part of that financial plan is how to produce retirement income. A good percent have purchased buildings with the intent of renting the units for profit. (don't forget this is a business, and no business stays a round if it doesn't turn a profit). On the other hand many middle age or younger individuals also own apt buildings. Key point, ownership doesn't Just Happen. People work for what they achieve.
2007-12-23 05:25:56 · answer #1 · answered by RWLake 5 · 0⤊ 0⤋
Free rent, managers normally get free rent and a small salary so for some who are retired but don't own a home the free rent is worth it.
It cost the people their freedom since they are stuck there almost 24/7 and people call them all hours of the day and night.
2007-12-23 12:48:13 · answer #2 · answered by shipwreck 7 · 1⤊ 0⤋
Because it's fairly easy, you don't have to pay rent, and they can always hire someone on the cheap side to do all the maintenance work for them if they don't want to do it themselves.
2007-12-23 12:52:30 · answer #3 · answered by laura_paura 5 · 0⤊ 0⤋
It can give a safe reliable return on their savings. It also gives them something to do with their time. It can backfire if their health declines.
2007-12-23 13:57:22 · answer #4 · answered by Bibs 7 · 0⤊ 0⤋
maybe it is easy...
2007-12-23 12:51:46 · answer #5 · answered by simply sarah 2 · 0⤊ 0⤋