Are you tired of landlording? If you are a tired landlord, then you know renting out a house is not an easy job. In fact, oftentimes it is a thankless job that only pays you a couple hundred dollars a month at best. You are responsible for managing the finances, applications and lease agreements, tenants, contractors, tax payments, and the house itself.
Whether it is bad tenants destroying your house or vacancy destroying your profit, there is always something to worry about and you are always asking questions.
In a matter of days you can have your house sold and cash in your hand. Dealing with nightmare tenants, or the demands of a rental has soured the profession of landlording for you. Or perhaps, you’re just looking to liquidate an income property you don’t want anymore to invest in other business opportunities.
Maybe your tenants just don’t pay on time, or worse, not at all. Perhaps the house has fallen into such disrepair that the rent money you do earn has to go back into the house leaving you with zero in profit.
After all, you initially became a landlord to earn extra cash flow every month. If you’re in this situation it is definitely time to make a change. This is the number one reason we hear from landlords requesting our help.
Maintenance call coming in at all hours of the night? Neglect? Abusing the property? What about squatters (illegal tenants)? Squatting is a real life situation that we deal with all the time, like in this case:
A lady we worked with bought a rental property in partnership with another man. The plan was to purchase the property under her credit and he was going to take the responsibility of fixing up the property to rent.
Turns out, his friends all moved in and never paid a dime in rent. They were professional squatters. While all the financial responsibilities fell on her, they took advantage of living in her property for free! They ever had any intention of fixing up the place or paying.
“Squatters rights” also known as “adverse possession” means that a trespasser is essentially trying to gain legal title to property by continuous possession. The laws in Texas and Oklahoma protect landlords in that a squatter has to meet strict requirements to have the opportunity to possess the property. In Texas they can’t even begin to claim ownership until they have been living continuously there for three years. In Oklahoma, it’s fifteen years.
While this presents a hassle for you as a landlord, handling the situation immediately and through the correct legal channels is the best course of action. If you need legal partners, we can help.
The rental property you own may need extensive deferred maintenance and repairs. The financial drain is very stressful. The rent isn’t covering the cost of running the property anymore, let alone turn a profit. At this point it may be in your best interest to sell the rental property in as-is condition for cash. Don’t worry about expensive repairs.
Things like a new roof, flooring or carpeting, plumbing updates, etc. can cost tens of thousands of dollars. During construction you won’t be able to rent the property. That can present a distressing situation for landlords who depend on the monthly income from rent.
You don’t have to stress any longer. You have options! If you’re tired of dealing with maintenance, repairs, tenants, toilets, property management, late rent, evictions, and more, contact Ocean State Buyers, LLC. We buy houses from distressed, tired landlords in Rhode Island and Massachusetts every day and help them find the unique solution for their rental properties.
You can avoid all these if you are tired of being a landlord. There are many reasons you might be tired of being a landlord. You might be having financial hardships to maintain your property or even if you have the financial flexibility, you might not have the time to deal with the tenants and to take care of the maintenance jobs required. Besides, you might feel that you are not getting the desired profits from your property. You are spending much on the maintenance and repairing and you are not getting the cash flow in return. If this is the case, you can consider other options to make the profit from your property back without going through the hassles of the repairing and other things. When working with Property Nation, we can make you a fair offer on your property. No low-balling, or trying to haggle you on selling to us as cheap as possible like most investment fly by night companies do.
If you are not interested in managing your property anymore, you can hire a rental management company to take care of it. The rental management companies can take all the responsibilities of your property. They are licensed and can deal with bad tenants and other property issues. In return though, you will have to give a percentage of the rent to the management company. They will act as a landlord, manage the maintenance jobs, and will take care of the tenants. This is a great option if you have the spread in your monthly rental profits to afford it, but if not you might not be able to hire a rental management company to take over for you. You will also still be responsible for the repair costs, replacing AC’s, and more. If this is the case, it may still be best to sell to an investor and move on to another investment property or get out altogether.
Real estate agents aren’t as compassionate as we are when it comes to unwanted rentals. They’ll expect you to do and change a lot before your property can be listed. We’d like to help you skip that whole debacle. We approach the sale process from a different perspective, and our perspective benefits you.
When you sell to us, we work for you. We’ve worked with a lot of landlords who have dealt with unsavory tenants. We know how the story goes.
You don’t have to deal with it anymore. Sell the house for cash to us, and we’ll help you move on to better things and investments.