As a homeowner, it can be an unexpected surprise when you suddenly find yourself in the role of an accidental landlord. While being a landlord can be a great source of income, it can also bring a lot of challenges. Whether you’ve inherited a property or you’ve had to move out of your home and want to rent it out, here are some common challenges of becoming an accidental landlord and how The Joseph Group can help you with each challenge.
1. Finding a Tenant: Finding a tenant can be a tricky process, especially if you’re new to being a landlord. You’ll need to thoroughly screen potential tenants to make sure they’re reliable and can afford the rent. You’ll also need to create a rental agreement and collect security deposits. By hiring a Property Management company like The Joseph Group, we will take this stress off your plate. We'll find and vet prospective tenants and keep you in the loop each step of the way.
2. Keeping Up With Maintenance: As a landlord, you’re responsible for any repairs and maintenance that need to be done on the property. This can be a challenge if you don’t have the time or the money to invest in the upkeep of the property. The Joseph Group can help ease this burden by scheduling maintenance, doing preventative maintenance, and assuring that the work is done properly.
3. Managing Tenant Relations: Managing tenant relations can be difficult. You have to be able to handle any issues that arise between you and your tenants, such as late rent payments or noise complaints. Our Property Managers at The Joseph Group are highly skilled in tenant relations and will be able to take control of keeping your tenants heard and helped!
4. Selling the Property: If you're unable to take over a rental property and would instead prefer to sell the property, that can become a confusing process to undertake. When selling your home, let our experts at The Joseph Group get the best price with less time on the market! The Joseph Real Estate ultimate home selling system gives you a complete team of professionals to sell your home for more money.
Being an accidental landlord can be a rewarding experience, but it’s important to be aware of the potential challenges that come along with it. If you’re prepared for the challenges, you can be a successful landlord and enjoy the benefits of having rental income.
At The Joseph Group; it’s not just a rental, it’s a home. Within the real estate industry, that simply means delivering everything buyers, sellers, or rental property owners need through our group of companies that work in harmony together for your success. Reach out today by emailing us or give us a call at 425.250.5559.
