Being a landlord isn’t for everyone, and not all investment properties turn out to be lucrative. Dealing with bad tenants, vacancies, major repairs, turnovers, and dishonest people is not only exhausting, it’s expensive. Beyond committing the time and resources to your rental property, you must also become well versed in your state and local laws to avoid potential lawsuits. If you’re tired of being a landlord, we can help!
Successful property management is hard work and it’s important to understand the time and financial commitment involved. Do you want to be called a tenant to unclog a toilet at 1 a.m.? Did you know a major repair like your HVAC going out can quickly eat up all of your profits? Are you ready to deal with code violations, cleanup and repair costs, late payment collections, or evictions?
The life of a landlord isn’t as glamorous as many envision it to be, and it can test your patience. You work hard for your money and will almost certainly be faced with adversity from time to time. It is important to consider the downsides of owning rental property to determine whether or not you’re cut out for it long-term.
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