My wife and I recently listed out home for rent with a property manager. I found a great property management company that I have really enjoyed working with after asking tons of questions before hiring a property manager.
Now that we have started to get the ball rolling finding renters and even showing our house to potential renters I have found a few expenses that have cropped up. Some of these costs were expected, but a few of these new expenses have kind of caught me a little off guard.
Unexpected Expenses Of Being A Landlord
- Advertising fee with the property manager – $100
- Getting our HVAC tuned up – $100
- Purchasing a home warranty – $500 per yearOverdue yard maintenance – $300
- Storage unit since we are downsizing – $150 a month
- Moving truck rental – $300
- Maintenance fund our property manager requested – $500
- Carpet steam cleaning – $200
TOTAL INITIAL COSTS – $2,150
My wife and I knew that we were going to move sooner or later because of our jobs. We are actually making this move on our own terms and timeline instead of our employer’s.
So, the good part about these expenses that we are incurring is that we would have had to make these improvements and spend the money when we sold our house anyway. We are just getting them out of the way now on our own terms. Moving to another nearby town has forced us to make these changes now