What is an Accidental Landlord?

Are you an accidental landlord? If you’ve found yourself in a situation where you own a property but are not using it to earn income, you may qualify as an accidental landlord.

Accidental landlords are people who own a property they don't intend to rent out, but find themselves in the position of being a landlord due to circumstances beyond their control. Accidental landlords may have inherited a property, or it may have been part of a divorce settlement. They may have moved and been unable to sell the property, or they may have purchased a property for a family member who was then unable to move in. In some cases, an accidental landlord may have purchased a property as an investment, but been unable to find tenants for an extended period of time.

Being an accidental landlord can be a complicated and daunting prospect. Accidental landlords must be aware of their legal and financial obligations, and be prepared to devote time and energy to running the property. 

If you find yourself in the position of being an accidental landlord, it’s important to take the time to educate yourself. Research the laws and regulations in your area, and strongly consider hiring a property manager to help you manage your rental. The Joseph Group can assist you in aligning with legal and financial requirements, vetting and coordinating with tenants, collecting rent, as well as maintaining the property on your behalf. 

Reach out today by calling us at 425.250.5559 or by emailing us to find out how we can help make your accidental landlord journey a profitable and enjoyable one!