The Trials, Tribulations, and Struggles of a First-Time Landlord
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 payment of $1,400 a month, there are many things that took a bite out of my renter’s payment. Forget making a profit; I … Read more