Symptoms of a Tired Landlord: Are you Looking at One?

by Jan 5, 2022

Do the responsibilities of a landlord feel like more trouble than the income is worth? Here are some signs to catch that being a landlord isn’t for you – and the best solutions you can take for your property.

Becoming a landlord can be a lucrative investment. For the lucky percentage blessed with good tenants, the responsibilities are very minimal and require little to no effort to receive passive income. For others, the cost of hiring a property manager is a small price to pay to rake in the remaining profit.
For many, however, the role and its responsibilities can be too much. You may start to feel unnecessary anxiety and stress having to deal with tenants. If repairs, maintenance, and generally bad tenants are stressing you out, you might already be a tired landlord asking yourself: are the responsibilities of a landlord more trouble than it’s worth?

Here are some signs that you’ve become a tired landlord, as well as some options you have and why selling your house in Phoenix, AZ may be the best solution.

Signs You’re a Tired Landlord

Some of the signs you need to look out for include:

You’re Constantly Handling Maintenance

While some landlords get calls from their tenants for a few incidents, you might find yourself at the end of constant maintenance issues and complaints from your tenant. On one week, it might be a broken toilet. Then on the other week, it’s a problem with one of the doors. If you handle the repairs yourself, it means taking time off your week to get the repairs done. If you’re sending someone to fix it, that’s an additional cost on your part.

Collecting Rent Has Become a Chore

Dealing with bad tenants means having to constantly chase them down to remind them of the rent that’s due. Bad tenants rarely ever pay on time or are very elusive when it comes to missed payments. Your lease agreement may have stipulations on how to deal with missed rent payments, but options like eviction take additional time and effort on your end – and that might be time and energy you just don’t have.

You Don’t Have Time for Anything Else

Most landlords have their own day jobs as well as personal time with their friends and family. But when you’re a tired landlord, you may find yourself having to deal with property issues so often that you find yourself canceling events or scheduling your weekend to do something for your tenant or for the property. In a situation like this, it’s normal to feel burnt out and like the stress of being a landlord is not worth what you earn in rental income.

You’re Considering Going Full-Time or Hiring a Property Manager

When your properties take up too much time in your week, you might be considering two options: quitting your full-time job to focus on handling your properties full time or hiring a property manager. Either option means losing some amount of income, but you might think it’s worth it if it means freeing up more time.

What Are My Solutions?

Depending on your situation, you may have several solutions:

Hire a Property Manager

Property managers are a person or company that can handle the responsibilities of a landlord for you. While you’re still the homeowner, property managers can handle the maintenance issues, rent collection, and other time-consuming tasks that tenants require. However, property managers take a percentage of the rent income you earn, so weigh the costs of hiring a property manager and see if it’s worth receiving less profit.

Go Full-Time

You might be a tired landlord because you have to balance the responsibility of being a landlord with your day job. If you rent out multiple properties, earn more from your rentals than your full-time job, and you don’t want to hire a property manager, consider being a full-time landlord. This can free up more time and give you a more flexible schedule to handle your properties.

Sell to a Professional Home Buyer!

Owning rental properties isn’t the only way to profit from your acquired real estate. If being a landlord is too much work, consider selling your house in Phoenix, AZ quickly to minimize the additional work you have to do as a landlord.

Waiting for tenant’s lease to end and then listing your property on the market can take months, which can result in additional responsibilities that can disrupt your schedule. But by selling your house to a cash home buyer in Phoenix, AZ like Austin Property Solutions, you can sell your home in Phoenix as-is for cash at a fair price.

Need More Information? Contact Austin Property Solutions Today

Not everyone has the time and skill to be a landlord – and that’s OK! Rather than bearing the responsibilities of being a landlord for much longer than you have to, your best solution is to sell your home fast, profit from the proceeds, and find new investments that require less effort.

Contact Austin Property Solutions to schedule a property viewing and receive a fair cash offer within 72 hours or less.

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