Home owners rent out their house either due to earning extra money or simply want an empty space to be filled by tenant. There are many pros and cons of rental property management that one should understand before renting out the property. One prime benefit for renting the property is that you will collect rent payments every month. Another one is the tax breaks you get from renting the property. On the contrary, the problems you can face are risking possible damage to your property on tenant’s hands. Further, heavy tax will be levied on the actual value of the property at the time of selling.