Do you own a rental property in Sacramento? You don’t want to be hit with surprises. And the truth is, the responsibilities and challenges of being a landlord may not be what you think they are. Owning a rental property usually seems like a great idea initially. You buy it cheap, find a tenant, and then profit from the rental income while you manage the property… how hard could it be?
The 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 Sacramento: You give up a lot of your personal life – less private time, fewer vacations, canceled weekend getaways… all because you’re so busy as a landlord.
There’s the work required
Owning a rental will keep you busy. First and foremost, you have to consider the work required to find the property, then to fix it up, find a tenant, 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. If you plan on going on vacation, you must have a plan how your tenants will handle emergences in your absence — will they be expected to call the plumber on their own, or will you enlist the help of a property management firm?
There’s the time
On top of paying for repairs at your property, you may end up sacrificing more time than you think. Finding and vetting new tenants takes a considerable amount of time, and then there are the hours you spend going by the property to respond to repair requests or other questions. Other aspects of being a landlord that take up time include: contacting tenants to chase down late payments, inspecting the property after repairs are conducted, and cleaning up in between tenants.
There’s the cost
Rental properties aren’t cheap. Even after you consider rental income from the tenant, you will still spend money to take care of the property, upgrade fixtures and appliances, and repair it if the tenants trash it when they leave. In other words, the costs add up and the financial rewards of owning a rental property may not be there for you.
There’s the stress
When you add up all of those things so far, it equals STRESS! You’ve got so much to juggle with the rental property, and you worry about it constantly, and perhaps you even fear opening the mail because you may find bad news in the next envelope. That’s no way to live.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an offer on yours?