While many tenants are responsible and respectful of their rental agreements, there may come a time when a landlord encounters tenants who fail to meet their obligations, engage in disruptive behavior, or breach the terms of their lease. If you’re tired of dealing with this, it may be time to contact a cash homebuyer to purchase your property.
Renting A Property Is A Great Way To Earn Passive Income…
Until It’s Not
Landlords get into real estate in many different ways. Some of them inherited their property. Some of them worked hard to purchase a second property. Other’s make a full-time career out of owning property. However, they got into real estate, one thing for certain.
Real estate is extremely lucrative.
That is, until it’s not…
Earning passive income from real estate is often portrayed as a lucrative and straightforward venture. That can’t be further from the truth. Landlords deal with property management responsibilities like maintenance. Market fluctuations, unexpected expenses, and economic downturns can impact profitability.
If that’s not enough, finding reliable tenants and ensuring they pay on time can be a job in itself. If you’re a landlord, you know all of this because you live it every day. Do you deal with any of the following issues?
Do You Deal With This As A Landlord?
Planned capital expenses and routine repairs are a part of being a landlord. Sometimes you luck into a property that costs more than your average property. These costs can eat into your profits and take away the “passive” element of being a landlord. Balancing the need to maintain the property’s value and appeal with the costs associated with these repairs is an ongoing challenge for landlords, requiring prudent financial planning and decision-making.
When your property isn’t making money, you’re losing money. Just because your property is vacant doesn’t mean you aren’t responsible for the mortgage, taxes, insurance, maintenance costs, and more. If your real estate portfolio is feeling the effects of the pandemic or inflation, it may be time to sell while property values are at an all time high.
It goes without saying you don’t want your tenants performing illegal activities on your property. If you or law enforcement catches them in the act, you almost always have grounds for terminating their lease. Unfortunately, things aren’t always that simple. If you’re tired of the liability your tenants present, sell your property and ditch the headaches.
Late Or No Rent Payments
New England landlords are stuck between tenants who can’t—or simply won’t—pay rent and banks that still expect them to pay for their mortgage every month. As they are stuck between a rock and a hard place, most landlords say that the eviction moratorium has put them in an impossible position.
If your property is in an HOA, you, not the tenant, are responsible for any violations. The property owner is an HOA member, meaning any fines assessed by the board are directed to you. If you’re unable to keep your tenants from violating HOA guidelines, you’re stuck in a tricky spot.
Massachusetts has high home prices and high property taxes, making it a difficult state for landlords to turn a profit. The other states in New England have similar tax climates.
We’ll Buy Your Property, Even With The Tenants Currently Living In The Rental
New England Home Buyers will purchase your property as-is, even if tenants currently occupy it. We’ll help you navigate the sales process and handle tenant affairs after purchasing the property.
Request your FREE and FAIR cash offer today!
Worth of homes purchased and sold
Communication was great and they helped each step of the way. Couldn’t imagine any easier or simpler way to sell my house. This company was a lifesaver and I would definetely recommend them to anyone looking to sell their house. Thank you so much!
Bill G. Peabody