Owning a rental property offers a good possibility to earn extra income. Location is essential before acquiring. If the property is in the city, ask yourself if it is located in a place of high demand and well connected. If you are in a tourist destination, in addition to the views and surroundings, whether on the beach, on a golf course, in the mountains, or in the middle of a beautiful town or city, consider the communications infrastructure to the site, and its location and proximity to services, such as, hotels, restaurants, shopping and medical facilities. All this will be key to the appreciation and rental value of the property.

In addition to potential rental income the property may produce, it will also become an important addition to your asset portfolio.

Remember, always keep location in mind. If possible, buy during the pre-sale period and check on the amenities the development offers, as this will increase the desirability of your prospective tenants or future buyers.