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