Rental Properties Outside Of The City Limits?
I haven't ever bought any properties outside of the city limits. I didn't want to have to bother with septic systems or wells or whatever other issues there might be. I was also told one time by somebody that its more difficult to rent properties outside of the city but this was just one persons opinion. I'm looking at a property just outside of the city limits that still has county water but uses a septic system. Any positives or negatives of properties located out of town?
What city? Your taxes may be lower (then again, maybe not). I think it depends on the city and area in that there may be positives in one area, negatives in another.
Well, I don't think the particular city will matter much since I own properties in more than one state. I also am considering looking at properties outside of the city limits in several towns. I'm curious as to whether or not the properties would be easier or more difficult to rent, and any differences in expenses. One extra expense I just thought of would probably be insurance. If there isn't a fire hydrant nearby the insurance can be twice as high in many areas.
I think there may be too many variables to make a general opinion on whether it's better inside or outside. In our area, the taxes in the city are about 1/3 less than a neighboring township. The township is also so close to a local feeder highway into town, that rents seem to be a little higher, offsetting the tax difference. I am sure it can be different in different areas. Most of the lease options we do are in the northern county of the Cincinnati area. Taxes are a lot higher, but the neighborhoods we "work" are more appealing because of the schools, crime (less), etc...
Insurance isn't an issue unless you are VERY rural (usually more than 5 miles from a firehouse).