Lately many people have found themselves in a situation where they’re renting one home because it couldn’t sell and they’ve already moved into their new home. People in these situations are referred to as accidental landlords and they face a number of challenges that traditional landlords don’t have. One of the biggest problems for accidental landlords is that they’re not landlords, they didn’t want to be landlords in the first place and they’re not hip to al the rules and regulations that come with the job. Another huge problem is they sometimes have relocated to another area so they’re not in touch with their tenants and they’re actually relying on them to maintain their property.
If you find yourself in an accidental landlord situation you may be best served by hiring a property manager to handle the business end of things so you can go about your life without much care. A property manager knows all of the ins and outs of the business and will prevent you from being involved in a potential lawsuit or falling prey to a bad tenant. A property manager will also be able to handle any issues that may arise on the property instantly and they typically have a good collection of reputable service people on hand.
If you’re an accidental landlord you can save yourself a lot of headache by passing the buck to a property manager.