Landlords Make Money Long Term, Not Hourly
I just made it home after spending a good part of my weekend working on a rental property and collecting some rent and to me, it’s part of being a landlord. I’m all clean and shiny now and as I sat down at my desk to quickly check some email and questions people left me, it hit me.
Most people won’t make good landlords, because they think like tenants. They worry about time off, they worry about weekends, they worry about the little things. Nowhere at Landlord School (ok, has anyone really gone to Landlord School?), does it say you get weekends off, in fact this tends to be your busiest time, same with evenings.
As a landlord these are the times that tenants are available to meet you. Tenants tend to work nine to five, Monday to Friday and as a landlord you have to work with their free time schedule if you need to meet them. You see they work for a pay check and as a landlord you are working for a longer term reward.
Why Did You Become a Landlord?
Ok, maybe not all of you, as I am well aware there are many reluctant landlords out there, but many of you who became landlord weren’t dreaming about being a landlord. You hear little kids talking about being firemen, police officers, business men, but strangely never landlords?
Rather you were dreaming about creating a steady stream of income each month. Many were even dreaming longer term about having a rental property that became your retirement nest egg. Some were even dreaming about their own Real Estate empire!
The issue with achieving any of these dreams is that it requires the extra work that others won’t put in. It requires sacrificing your time some weekends, it requires having to show vacant rental properties during the evenings when you would rather be at home with your family and it requires your attention at inopportune times.
This is the sacrifice you make now, so that in five or ten years down the road, you are in a much better situation than the people working their nine to five so they can have their weekends free. Congrats to you for having long term vision and making money long term as a landlord!
Guaranteed Rent UK guarantees your rental income for a term of 1 to 5 years, even if the property is empty.
We also find and manage the tenant, at no cost to you, offer basic maintenance, and ensure that the property is kept to a good standard by carrying out regular inspections. And in addition to taking the stress out of property lettings, in most instances our rental offer provides you with more net profit than a traditional letting agent’s does.
Our aim is to take the stress out of property letting for landlords, primarily by safeguarding against late payments and void periods. In addition to this, we offer basic maintenance and regular property inspections to ensure that properties are kept to a good standard. And, with no fees, in most instances our guaranteed rental offer provides more net profit for landlords than that of a traditional letting agent.
Thanks for the info Bernard, this could be a handy solution for folks in the UK.
Bill
The Educated Landlord