When searching for your investment property, you likely reviewed the numbers. However, these numbers reflected the existing property management’s commitment to their job. If you took on the landlord role and haven’t seen the same results, it may help to figure out where you’re going wrong. So read on as we explore five things that will make you a bad landlord in Weatherford.
Burnout
Not everyone is energized by dealing with day-to-day property management. However, if you’re aware you don’t care about the property or your tenants anymore, you may be experiencing landlord burnout, which will make you a bad landlord in Weatherford. While you may attempt to hide your feelings, people are highly perceptive, and your attitude will eventually wear down even the best of tenants, causing them to move and costing you in turnovers and more work. With a direct sale to a professional home buyer like those at StrykCam Real Estate Investors, we’ll buy your property and compare what you’d earn through listing to our offer, so you’ll feel good about the deal long after closing; you can just relax and finally let it all go.
Screening
When it comes to finding tenants for your investment property, the screening process is critical. A bad tenant can turn what should be a passive income stream into a money pit, so it’s important to take the time to screen potential tenants thoroughly.
There are a few key things to look for when screening tenants. First, you’ll want to make sure they have a steady income. This can be verified by looking at their pay stubs or tax returns. Second, you’ll want to check their rental history. This can be done by contacting previous landlords and asking about the tenants’ rental history. Finally, you’ll want to conduct an in-person interview with the potential tenant. This is important because it will give you a chance to get to know the tenant and see if they would be a good fit for your property.
If you follow these steps, you’ll be well on your way to finding a great tenant for your investment property.
Time
As life evolves, priorities shift, and demands on our time change; if things are different and you don’t have the time to manage the property any longer, this situation could become costly and ultimately make you a bad landlord in Weatherford. Not only are you likely to lose any good tenants, but when you aren’t responding to their needs, this puts your property at risk. What could have been stopped at a small leak could turn into torrential flooding in the units because tenants had learned you, as the landlord, would not act when they reached out. With a direct sale to a professional home buyer like those at StrykCam Real Estate Investors, you’ll have a guaranteed closing date, often within a few days, and your time will be your own again.
Finances
A financially devastating event is another thing that will make you a bad landlord in Weatherford. Given the laws that govern rentals, in addition to your contractual commitments, an event that makes it impossible for you to handle necessary repairs will quickly escalate into a variety of costly headaches, including vacancies, which will only exacerbate your lack of funds. We’ll buy your property as-is for cash with a direct sale to a professional home buyer like those at StrykCam Real Estate Investors; you won’t need to worry about repairs.
At StrykCam Real Estate Investors, our professional home buyers are local professional investors who are seasoned landlords and completely understand the things that will make you a bad landlord in Weatherford. Let us make you an offer you will agree is fair for your investment property and relieve yourself of the stress. At StrykCam Real Estate Investors, the process is quick, easy, and painless, our contracts are simple, and nothing is hidden, you pay no commissions, no closing costs, and no hidden fees. Call StrykCam Real Estate Investors at (817) 409-4235.