Being a landlord seems easy from the outside looking in. All you have to do is buy properties and find tenants to live in them, right? Unfortunately, no. Much more goes into it, including time, money, management skills, and more. Landlords have several expenses to consider aside from the price of buying investment properties. Today, […]
Tag Archives: common rental property expenses
04
Oct
Oct
When most people look at renting an apartment or single-family home, they may only consider the monthly rental rate within their budget. However, there’s much more to think about. For instance, who covers the utilities? How much is the security deposit and application fees? And do you need renter’s insurance? These are all crucial aspects […]
25
Aug
Aug
One of the significant expenses of any household is utilities. After all, everyone needs water, heat, and electricity to live a comfortable life at home. However, adding up all the utility costs of a rental home can become quite overwhelming. As such, landlords and tenants should learn how to use less of these resources and […]
14
Jun
Jun
Maintenance and repairs are some of the biggest expenses for rental property owners. However, learning how to complete simple DIY repairs and knowing when to call experts is important to managing costs. For example, unclogging a toilet could be an easy DIY fix, but hiring a professional plumber can run anywhere from $150 to $700! […]
03
Mar
Mar
One of the most common questions for landlords is, “how much should I charge for rent?” While this is a good question, there are several considerations property owners must first address to arrive at a rental fee. For instance, what are the neighbors like, and what does the property offer? Luckily, multiple tools, resources, and […]
13
May
May
When you own a rental property business, there are several expenses you must account for. Some of the most common rental property costs include insurance, taxes, and maintenance. However, sometimes landlords encounter unexpected rental property costs that negatively affect profits. So how can you avoid running into hidden rental property costs? Here’s what you need […]
21
May
May
Part of being a successful landlord is preparing for all necessary and unexpected rental property expenses. However, for new landlords or investors, this is easier said than done. When it comes to determining income and profits, there are plenty of helpful online ROI calculators. That said, estimating expenses involves many variables that landlords can easily […]