Do you own a rental property in Brevard County? Make sure you know the surprising truth of being a landlord in Brevard County because it’s not always what you think it’s going to be…
Owning a rental property seems like a great idea. You buy it cheap, you find a tenant, and then you profit from the rental income while you manage the property… how hard could it be?
The problem is that it’s often much harder than people think, and you may find (as many landlords do) the surprising truth of being a landlord in Brevard County: You give up a good portion of your personal life – private time, vacations, and weekend getaways become more difficult to fit into your schedule… all because you’re so busy as a landlord.
There’s work required
Owning a rental will keep you busy. There’s work required to find the property, then to fix it, advertise for a tenant, screen the tenants, prepare the lease, handle deposits and rent payments, and answer the phone from them every time they call. Even if they call late at night because the toilet is overflowing, you have to take their call and deal with it. You’re “on-call” 24/7….and forget vacations! What will happen if the toilet overflows while you’re in a different country?
There’s time involved
Some landlords try to own a rental property while they have another job, but many discover that it’s like having a second full-time job! You’ll find yourself chasing down tenants for payments, and fixing things around the house, seemingly always at the most inconvenient times. It’s one thing after another … and that’s with ONE rental property. Landlords who own two or more are even busier.
There’s costs
Rental properties aren’t cheap. Sure you get some rental income from the tenant but you also have to take care of the property, make repairs, upgrade appliances, and clean and repair over and over again every time you get new tenants. Additionally, if the rental house was purchased with a mortgage, interest rates are generally higher that a home you’re going to live in…then there’s taxes, insurance, vacancies between tenants with no income… In other words, the costs add up. Once you do the math, you may find that the financial rewards of owning a rental property may not work for you.
Stress
When you add up all of these things, it equals STRESS! You’ve got a lot to juggle with the rental property, you worry about it constantly, and perhaps you even fear opening the mail because you may find bad news in the next envelope. Some people thrive on stress, and others would rather live without it.
If you own a rental property and want to get rid of it, we can help. We buy properties of all kinds in any condition. (Yes, we even buy rental properties that have damage or bad tenants you can’t get rid of.) Can we make you an offer on your rental property?