Last year, my wife and I joined the league of accidental landlords. We were upside down in our home and couldn't sell it without taking a big loss. So after relocating for work, we decided to rent our house out. I thought it would be a simple endeavor to charge enough rent in order to cover our mortgage payment each month. But that was hardly the case when the rubber met the road. There were several important factors I neglected to take into consideration that hampered my return. I was struggling just to break even. With a mortgage … [Read more...] about The Trials, Tribulations, and Struggles of a First-Time Landlord
Home Warranty
The Benefits Of A Home Warranty Plan
If you do not have a home warranty, then you may want to consider getting one. Whether you are selling your home, renting it as a landlord, or living in it yourself, there are quite a few benefits of a home warranty that you can take advantage of using. Your Home Will Be Preferred By Buyers If you want to make your home a preferred home to potential buyers, then you will want to have a home warranty plan on your home to help you attract buyers. When you have a home warranty, then the chances are there will be more potential buyers … [Read more...] about The Benefits Of A Home Warranty Plan
The Unintended Costs Of Being A Landlord
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 … [Read more...] about The Unintended Costs Of Being A Landlord