Be A Landlord...Are you Crazy??

By
Real Estate Agent with Prudential Network Realty

This is the first several of tips about what it takes to be a landlord. I've been doing it now for about 12 years and I'm finally figuring out that I'm not cut out for it! I am going to start out with "Why not to be a landlord."

If your soft hearted, trusting and easy going here are reasons NOT to be a landlord:

1. People immediately recognize your soft hearted-ness and try to take advantage of you and chances are you will let them....you end up losing $$$

2. You will have a hard time when it comes to holding tenants accountable in paying their rent especially if they have young children...you will lose a lot of $$$

3. You will sleep less because you will be up at night worrying about collecting rent to pay your mortgages...you lose a lot of sleep and more than likely end up losing a lot of $$$

4. You will get discouraged when someone moves out and you find the place destroyed and have to spend all sorts of money getting it ready to rent again because the tenants have already eaten up there security deposit in unpaid rent, even if you do evict them, because the court system is not helping you to NOT lose money, in fact you may even feel like the court system thinks you can afford to lose the money more the tenants can afford to be without a home (sorry for the run-on sentence...I just couldn't stop)... oh by the way, you lose a lot of $$$ 

5. You will have a hard time saying no to potential tenants even though you know deep down they are NOT trustworthy...you will lose a lot of $$$

6. Because of your kind hearted personality you will develop personal relationships with your tenants which is contradictory to an effective landlord tenant relationship allowing them to take advantage of you...you will lose a lot of $$$

7. The court system will let you down and you will get discourage because while you are trying to keep up with your mortgage payments your free-loading tenants are living the free and easy life...you are losing lots of $$$

8. You will lose a lot of $$$

So if you have a soft heart, are trusting and easy going and want to lose a lot of money, be a landlord!

Next blog I will REALLY talk about what it takes to be a landlord!

Posted by

I specialize in St. Augustine real estate and helping home buyers and sellers achieve their real estate goals. If you are looking for St. Augustine homes or properties in St. Augustine, please utilize the valuable tools that I have assembled on my website to assist you. Click here to search the MLS for St. Augustine homes for sale and St. Johns County property. Saint Johns County Homes For Sale is your one-stop-shop for St Augustine real estate, Palm Coast real estate and PonteVedra real estate. Or contact me to represent you as your "Single Agent" realtor!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
st augustine real estate
st augustine homes for sale
st augustine homes
st augustine realty
properties in st augustine
bill whitson

Spam prevention
Show All Comments
Rainmaker
1,317,757
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Being a landlord is not for everyone... There are a lot of challenges.

Jan 20, 2011 02:13 PM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
20,342

William Whitson

Ask me a question
*
*
*
*