The Surprising Truth Of Being A Landlord In Portsmouth

Do you own a rental property in Portsmouth? Make sure you know the surprising truth of being a landlord in Portsmouth because it’s not always what you think it’s going to be…

White two-story house in a green neighborhoodOwning a rental property seems so easy to many people. Just find the money to buy a second house, put a tenant in it, and it’s all good, right? How hard can it be?

Problem is, it’s often much harder than people realize and you may find (as many landlords do) the surprising truth of being a landlord in Portsmouth: Well, you need to think about the repairs that can come up at any time. So you may need to give up your family time, vacations, etc., or, you will need to give up a good portion of your rental income to a property management company… So, it’s actually busy to be a landlord.

There’s the time

Some landlords try to own a rental property while they have another job but many discover that it’s just as time-consuming… it’s like having a second full-time job! Between chasing down your tenants to fixing things around the house, it’s one thing after another and you may simply not have time to work at your other job… and that’s with ONE rental property. Landlords who own two or more are even busier.

There’s all the work required

As a landlord, you have certain obligations towards the property and the tenants. You need to call them back, and address their concerns. Even if you do employ a property management company, if the tenants call you for whatever reason, you will need to respond. Usually, as you might guess, they will not be calling you to say great things. And that will continue even if you are on vacation, domestically, or abroad.

There’s the cost

Rental properties aren’t cheap. Think about it. And what about if you want to get a more cool property, like for a vacation rental. Do you think it is cheap to get one close to a nice resort area? It’s sure not! Also, you will need to do repairs, upgrades, and hope that the tenant will not mess up everything…So, yes, you’ll get rental income, but at the same time you will have a number of expenses.

There’s the stress

So, besides the added costs – the ones you knew about, and the ones you didn’t even consider, think also about the stress! And as you get older, it doesn’t get any better. You’ll probably just get tired of it all, at some point. Is that the best way to enjoy your later years in your life? We didn’t think so!

If you own a rental property (or many) and want to get rid of it, we can help you. We buy houses (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Let us know if you want to sell. We’ll go over your options and make you cash offers!

Click here now and fill out the form or call our office at (757) 414-7117 and we’ll make you a fair offer today.

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