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Being the owner of an investment like a property can get you really anxious at all times. The regular maintenance carried out on the property and enlisting the services of unscrupulous companies in charge of management of property can be pretty overwhelming. Let us not even get started on the main cause of the anxiety- difficult tenants. More often than not, put up your property on lease isn’t always a money spinner neither is it the best decision. What can do you do when you are fed up with being a landlord?
To be more realistic, there are a plethora of reasons why a landlord might get exhausted and want to ‘close shop’. One of the reasons is loss of adequate capital to properly maintain the building. It is expected of landlords to handle costs accrued in the course of repairs, cleaning the landscape and constant maintenance of the home. As a landlord, unplanned expenses can kill your vibes. Fixing faulty appliances can lead to a deficit which can be very discouraging for some landlords.
Some business maestros are abandoning ship of being landlords, one of the reasons stem from the fact that being a landlord never guarantees a steady flow of cash.
Expenses that rise up occasionally are also inculcated in the plan of a rental property. Sadly, the costs at the end are usually higher than the actual planned costs. The victory of being a landlord can be likened to that of a pyrrhic victory because you actually lose more than you gain. Is there any possibility that you are uncomfortable with the thought of losing some cash on the property you put on rent? Getting rid of this duty might be one of the best decisions you have made in your entire life.
Many landlords employ the services of middlemen to serve as the go-between them and their tenants. These third parties usually help manage their entire property. Rental property owners go for this option for a variety of reasons which range from cutting back on the time spent attending to the needs of tenants and ringing contractors to handle some minor issues. This feels like having the moon of a stick, but it comes with a price; a huge one that the landlord might not be able to afford. Hiring a property management company does not always mean you get satisfaction from the job.
Property management companies will only make you shell out more money, thereby making your profit margin as a landlord very slim. Get prepared to part away with 5-10% of your revenue as the settlement for the property management company. The huge paycheck is not limited to monthly maintenance alone, property management companies have been known to overcharge for fixing basic damages here and there. A faulty pipe is usually fixed a couple of hundred dollar bills or a chipped floor can set you back on a thousand dollars. If you are not good at making observations, the companies you hire to manage your property can take advantage and coin you off your hard earned cash.
In addition to this, property management companies try to avoid difficult tenants who might pose a financial burden by drawing up an agreement before rental. This is a great step but they usually forget to check the background of the tenants. Troublesome tenants can renege on an agreement and steal a piece of furniture or cause a permanent, serious damage to a property under their watch. The destruction can be so serious that you will be so devastated.
Conclusively, property management companies are usually contracted by many rental property owners like you, so they might be very busy to give proper attention to your property. They may neglect your tenants and you might find yourself playing the role of a customer care representative in the middle of the night to a tenant who needs something done very quickly.
After getting frustrated by a property management company, you may decide to give up and put up the property for a fast house sale. Selling your house quickly might be the best option and most sellers seek realtors to help them with a quick house sale. It is quite tough for real estate agents to sell a property that has tenants living in them.
As a realtor, you might get slapped with a lawsuit especially when a tenant feels that their tenant-landlord agreement has been breached. Difficult tenants can file a lawsuit when they feel that their landlords did not notify them prior to the sale of the property. Also, tenants might not be willing to co-operate to show potential buyers the property they plan to purchase. How can a homebuyer purchase a property they haven’t toured? The realtor might lose the deal. Many a time, tenants can be really tough and very hostile during the period of sales, this is a huge turn off to fast homebuyers. Some others intentionally fail to pay the rent of the last month of their stay. As a landlord, weigh your options before deciding to sell your house fast for cash.
It has been shown that selling a real estate property to a company that offers cash for houses will be your best way out of getting rid of a property with tenants. The House Buying Companies are very fast house buyers. They give the easiest and stress-free options to a host of problems faced by rental property owners.
The icing on the cake is that you do not have to be troubled about getting summoned to the court or having your tenants filing a lawsuit against you. This is because with the House Buying Companies, buying a home is like taking a walk in the park. The aim of the company is to get rid of difficult tenants and avoid skyrocketing fees charged by property management companies without hiring a realtor. In a nutshell, the company will sell your house fast for cash and you can go to sleep rest assured that everything has been taken care of.
You Get Cash Within 24hrs When You Sell Your House to I Buy Houses!
Selling your house to a cash home buying company like I Buy Houses will be the best decision you will make. No worries about renovations and no extra costs for hiring a real estate agent. You will get your cash within 24 hours after the deal closes.
At I Buy Houses, we buy houses fast and are reputable for buying houses with cash. Give us a call at 513-802-9870, our friendly customer representatives are always ready to help you. You can also fill out the form below to get started. We look forward to talking with you.
Forget being a landlord in Cincinnati. You can sell the house fast, as-is!