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 New York.
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 New York. 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 Solace Property Investments, 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.
Finding the best location in New York for your investment property isn’t enough to make your investment business successful. The monthly cash flow you’ll be counting on in retirement comes from the tenants you place today and hereafter. Your screening process or lack thereof is the determining factor in the outcome. If you don’t have a comprehensive system that you follow, in addition to an in-person interview and checking every reference to get a feel for potential tenants, these things will make you a bad landlord in New York. Dealing with bad tenants can be a nightmare. The professinal home buyers at Solace Property Investments have the knowhow and experience to take your headache tenants off of your hands.
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 New York. 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 Solace Property Investments, you’ll have a guaranteed closing date, often within a few days, and your time will be your own again.
A financially devastating event is another thing that will make you a bad landlord in New York. 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 Solace Property Investments; you won’t need to worry about repairs.
At Solace Property Investments, 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 New York. Let us make you an offer you will agree is fair for your investment property and relieve yourself of the stress. At Solace Property Investments, 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 Solace Property Investments at (347)851-8837.