Reasons Why You Don’t Want To Be A Landlord Of Multiple Rental Properties
Owning rental properties in Portland Oregon is one of the best ways to build wealth and to generate long-term cash flow but, one of the mistakes that many landlords make is attempting to manage multiple rental properties themselves.
Most owners typically burn out after a couple of years of managing multiple rental properties, especially for the following reasons:
Reason #1 – Time Commitment
It doesn’t matter if an owner is spending two hours, or four hours per week, managing their rental property, once that owner adds another one or two properties to their portfolio, the time commitment that’s going to be required to manage all those properties is only going to increase.
What once was passive income, now turns into active income, because the owner is going to be responsible for rent collection, maintenance, customer service, accounting, and all the tasks that are required to manage the multiple properties that are in their portfolio
Reason #2 – Too Many Responsibilities To Manage
When an owner has multiple properties to manage, there will be multiple responsibilities that they have to handle on a daily, and weekly basis.
Sadly, many owners find it difficult to manage multiple rentals themselves, especially if they are working a full-time job and have a family.
What’s the solution to the problem? Any owner who wants to continue earning passive income from their properties should hire a property management company right away. Or at the very least assemble a team of professionals that they could turn to handle the day-to-day tasks that come for managing their rental property.
Reason #3 – Stress
Last of all, but most important, another reason why many owners typically burn out after attempting to manage multiple rental properties themselves is the stress that comes from having to manage all those properties.
Stress is one of the top killers in the world today, behind cancer, and also heart disease. One simple and effective way to avoid stress when owning properties is to outsource the management of those investment properties to a local property management company.
Contact Rent Portland Homes – Professionals
At Rent Portland Homes – Professionals, we specialize in full-service property management and can save you the time, effort, and money of managing multiple rental properties yourself.
To learn more about the services that we can offer you, contact us today by calling (503) 447-7735, or click here to connect with us online.