Becoming a Landlord: What Are The Disadvantages?

The reason why most people don’t invest in real estate and then rent it out is due to the fact that they might’ve have heard about all the disadvantages that are attached to being a landlord. Although there are lots of reasons why you shouldn’t try to become a landlord, you must also bear in mind that most of what you hear are many of the things that you hear are strongly amplified.

One of the biggest downfalls of becoming a landlord is that you’ll be responsible for the maintenance of all of the units that you decide to rent out. This might be a large problem if you are renting an older property, which is barely passing code. But the finest way to stay away from this is by only investing in properties that won’t cause you a lot of problems. Although you can’t avoid every issue that arises, you can at least reduce them by renting out a high quality property that won’t require often fixing.

Another disadvantage to becoming a landlord is that many people are afraid of not getting paid in time. Don’t forget that a lot of landlord rely on incoming rent checks in order to get by each month. If they don’t show up on time, or worse if they don’t show up at all, you will be in a bad situation. Along with this, becoming a landlord also entails that you will have to turn into a collector.

This implies that at anytime somebody is late with their rent, you will need to find them and keep contacting them to try and get the money that is owed to you. Sometimes this will be as easy as a phone call, but in other cases it may take you weeks or even months to get your due.

Being a landlord also means that you are responsible for your tenant’s safety. This doesn’t mean that you have to watch what they do 24/7, but it does mean that you will be responsible if an accident occurs due to negligence on your part. This is the reason why it is essential to have good knowledge of what you need to do as a landlord, and follow the rules exactly as they are outlined.

There are many drawbacks to becoming a landlord; which have never been debated. However, a lot of the myths that surround this industry make the landlord function more complicated than it really seems.

The best thing you should do if you want to become a landlord is to have knowledge of what you are getting yourself into. This can be done by researching the industry, and talking to others informed people.


Wendy Pritchard is a contributing editor at RealEstatePropertyArticles.com. This article may be reproduced provided that its complete content, links and author byline are kept intact and unchanged. No additional links permitted. Hyperlinks and/or URLs must remain both human clickable and search engine spiderable.

Investing In Rental Properties

If you are looking to make money in the real estate industry and would love to make a decent living out of it, you might want to look into investing in rental properties. At this point this might not mean much to you, but as you go along you will find out that rental properties can earn you a lot of money if you proceed properly. Obviously, this is not easy, but if you put in the right amount of time into it, you will be able to find rental properties with a strong potential.

The question you might be asking yourself right now is, what exactly are rental properties? Well, basically speaking, rental properties are pretty much exactly what they sound like. Once you own a ‘rental property’ you will then be able to rent it out to your tenants on a monthly basis.

This way will enable you to set up a stream of income that will arrive into your bank account each month. Countless people love setting up this type of system, giving them an additional stream of income. This is also because it is much easier to handle than a lump sum payment.

But along with the rental properties money making method, you might also want to consider a few other things. Firstly, remember that rental properties will require some maintenance. If you are a rental property owner, then you will be responsible for maintaining it to the appropriate standards. Also, if a tenant has a problem with any of the appliances, it will be your job to take care of it.

Many people who own rental properties sometimes hire a management company in order to take care of these things for them. Even though this is a service you will have to pay for, it is usually worthwhile in the end because it will cut back on the amount of problems that you will have to deal with more personally.

When you start searching for rental properties, make sure you keep an open mind. This will enable you to get involved with the ones that can offer you the most. Some people tend to avoid certain rental properties because they don’t want to leave their comfort zone. But you must always be on the look out for property with potential, regardless of the details. This way you will be able to make your money work for you in the best way possible.

On the whole, rental properties can be quite a profitable source of income. Always make sure that you remain aware of the work that goes into them. Even though big profits can be made, there are also many downfalls that you should also consider.


Ann Sommers is a contributing editor at RealEstatePropertyArticles.com. This article may be reproduced provided that its complete content, links and author byline are kept intact and unchanged. No additional links permitted. Hyperlinks and/or URLs must remain both human clickable and search engine spiderable.