Ahhh….tenants and toilets. The two things absolutely critical in rental properties.
Each is a dichotomy, too.
Tenants provide the Revenue….Toilets provide the means to take waste of out your house.
Tenants can break down and not behave….toilets can also break down and not behave.
Both can create icky mucky messes that you have to clean up.
Some messes are simple to clean up, such as a tenant paying rent late or a toilet clogging up.
Some messes are ultimate disasters, such as a tenant trashing a property beyond recognition or a toilet on 2nd floor of a home overflowing for days into 1st floor of a home.
Smart Landlords plan for Tenants and Toilets to misbehave and budget accordingly with both money resources and time resources. Money resources including paying for well-drafted lease agreements and professional services like property management and vendors. Time resources such as mid-lease audits and preventative maintenance checks on plumbing items.
Are you a Smart Landlord?
Or do you just grab the plunger and pray to the porcelain gods to be gentle?
Here’s to your continued Financial Freedom!
P.S. Curious if your home is a profitable rental or could be profitable?