Benefits of Owning a Rental in Islamorada, Fl Keys

ISLAMORADA, Fla. - April 22, 2016 - PRLog -- Per Jan Keller, Top Producing Real Estate Agent for Coldwell Banker Schmitt Real estate and owner of Kellerporterteam.com-Everything about Islamorada Real Estate,"Part of the Florida Keys, Islamorada is a wonderful place to call home. It's also a great place to vacation. In fact, it's one of the premier destination locations in the entire Sunshine State. Being so popular means there's a constant need for accommodations for tourists.
Those tourists power the local economy, which creates jobs, which creates a need for housing. But, this is just one reason that owning a rental in Islamorada is a smart investment. Additionally, there are more benefits:

● Property taxes are low. One great thing about Florida are relatively low property taxes. Compared with the northeast and some other parts of the country, property taxes are just a fraction. What's more, there's no state income tax. So, if you already reside on the peninsula, you won't have to report rental income to the state.

● Property appreciation. It's well understood that real estate gains value over time and when it's located in such a premier destination location, its value gain is greater. That's something which can substantially add to your investment portfolio.

● Rental units are in demand. Simply put, there are a lot of people who visit Islamorada and this provides a steady stream of rental revenue. You can choose to rent short term, long term, or a combination. In addition, you can also use the property as a dedicated home away from home; after all, it is a beautiful vacation destination.

● Property is a finite resource. Property appreciation isn't just due to the prime location. It's also caused by the fact that land is a finite resource. It puts the law of demand and supply firmly on your side.

● There's a passive income source. When you own a rental in Islamorada, you'll have the ability to create and enjoy a passive income stream. Rental rates are quite lucrative and because your mortgage payment is fixed, the margin will increase as the home loan amortizes. You'll have equity built in a short amount of time.

In addition to these benefits, other advantages are federal tax write-offs. You can deduct routine maintenance, repairs, insurance, mortgage interest, commissions, utilities, advertising, and much more. For more information about Islamorada Real EState please contact Jan at http://www.islamoradajan.com