If you’re interested in owning a rental property in Stockton, it’s important to get a real glimpse into what being a landlord in Stockton is like. It might not be what you think.
On paper, renting out a property sounds great. You just buy it, find a decent tenant, rent it out, and then enjoy the profit from the rental income. It shouldn’t be too bad. Right? Well, it might be a lot more work than you think. Being a landlord in Stockton will keep you busy and on-call day and night, so think twice before you commit. That’s why we’re exploring the truth of being a landlord in Stockton in this quick guide.
The Surprising Truth Of Being A Landlord In Stockton
It’s a Lot of Work
It might sound like a hands-off income, but renting out your property is going to keep you really busy. Why? Well, it’s hard to find a suitable property, and once you do, you still need to pay for (and wait on) renovations and repairs. Once everything is ready, there’s the problem of finding a tenant who won’t make your life harder than it already is. And even then, you have to be on-call all the time. Landlords don’t get vacations, so get ready for frustrating phone calls – even when you’re lounging at the beach.
It’s Really Time Consuming
Many landlords in Stockton rent out their property as a supplementary income – that means they still have a job or work in some capacity, so they’re short on time. It often comes as a big surprise when they realize how their savvy financial move might not be the “passive income” they were hoping for. Between badgering your tenants for rent and fixing up items around the house, you might not have the time or energy to keep up.
It’s Going to Cost You
You don’t get to jump right to the profit, unfortunately. Rental properties aren’t going to be cheap, and renovations can really break the bank if you don’t stick to a budget. More than that, there’s no guarantee that your tenant will pay rent on time, which can put you in a really tough spot.
What does all of this amount to? Stress. A lot of Stress. If you want to go through with this, make sure you plan ahead, budget your time and money, and look for great tenants. It can save you a lot of headaches in the future, especially if you’re still working a full-time job while you rent out your property.
If you’ve learned the hard way that renting just isn’t for you, don’t worry. You can always sell your property to a home buying company, like our team at MCB Homes Inc. If you own a rental property and want to get rid of it, we can help. We buy properties even if your frustrating tenants still live there. Reach out if you want an offer!
Are you interested in being a landlord in Stockton or would you rather cash out now? Fill out the form or call our office at (209) 743-0602 and we’ll make you a fair offer today.