Being a landlord allows you to enjoy the perks of earning passive income. Under ideal conditions, the rent could pay off the mortgage in time and allow you the opportunity to earn even more capital by selling the property which has gained in value after all those years. You are also doing society a service by providing a safe and comfortable housing to families and students who cannot afford a mortgage.
However, things may not be that smooth in reality. An old property may require more maintenance and repairs which build up costs and reduce your profit margin. Even if you are handy, the time and energy invested into your rentals could be better spent with your family or your hobby. For landlords getting on with age, DIY work is not an option and professional contractors are too pricey to consider.
Uncooperative tenants can also be a concerning factor. Rent delays, property damage and petty arguments with fellow tenants are just some of the issues a landlord may have to face. If you have been blessed with great tenants, you may also worry about their future should you decide to sell the property.
Fortunately there is a solution to exit the landlord business gracefully. Selling your rental property with a private buyer ensures discretion and the option to retain existing tenants for the next landlord. There will be no “For Sale” sign on the lawn or requirements for tenants to vacate for a showing. The whole transaction can be done privately between you and a buyer with minimal disruptions to your tenants.
Private buying also has the benefits of selling AS-IS. If your rental requires a ton of work, not to worry. A private buyer will accept your property in its existing condition and pay you cash, leaving you a myriad of options to plan your next investment. There are also no commissions or closing fees involved, which saves you even more money.
So are you tired of being a landlord? Contact us for a chat to find out about our process and let us walk you through relieving yourself of this role in a hassle-free way!