The Consequences of These Landlord Problems

Tired of Being a Landlord? Sell Your Reno Rental Property for Cash

Managing a rental property with problems is like trying to salvage a failed relationship. It’s emotionally exhausting, and you’re just wasting time and effort over something that’s going to inevitably fail anyway. Sometimes, the best course of action is to rip the bandaid off and free yourself from the underperforming property.

At Reno Area Home Buyers, we can help you sell a rental property with ease. We’re cash buyers that can help you get rid of the asset in as quickly as a week. Learn how it works below.

 

Best Reno Nevada Cash Home Buyers and Home Buying Companies

Best Reno Nevada Cash Home Buyers and Home Buying Companies

Common Landlord Problems

Owning a rental property may seem like a lucrative endeavor at first, but there are issues that can emerge in the future. These problems can make management and operations a major source of headaches. Here are a few examples.

Non-paying Tenants

You can be as stringent as can be during the screening process, but even the best tenants can still change over the years. They may start paying later than expected or refuse to pay at all. The delayed rent can result in disruptions in your cash flow, making it harder to address other issues since you have limited resources.

Increasing Maintenance Costs

In general, you will need to dedicate 5 – 8% of the rental income to property maintenance. The number may grow in the next few years because of rising costs of the products and services needed for property upkeep. Allocating more for maintenance will result in lower revenue.

Tenant Complaints

Living with other people in a single building is bound to cause some issues. Common ones include noise complaints or property damage. Mediating these complaints can be emotionally exhausting, especially for landlords who manage several units at once. Plus, the petty disputes can consume precious time that you’d rather spend elsewhere.

Lake Tahoe Nevada

Lake Tahoe Nevada

Evictions

The process of eviction itself can be complex, daunting, and mentally stressful. Tenants can also become hostile at the prospect of being evicted, adding to safety concerns.

High Vacancy Rates

Most experts believe that 3% is a healthy vacancy rate. You can still earn even at 6%, but anything beyond that will only lead to losses. The cost of maintaining the unoccupied units will be too much compared to the rental income, leading to lower revenue.

Declining Rent Market Value

Sometimes, your local market will experience a decline in rent values. This can be caused by economic downturns or dwindling popularity of your Carson City neighborhood. You may need to lower your rent to attract more tenants, resulting in diminished income.

Unforeseen Events

Natural disasters, conflict, and other unpredictable events could lead to extensive damage to the property or high vacancy rates. You may need to shell out a huge sum to address these issues.

Gardnerville Ranchos

Gardnerville Ranchos

Regulatory Changes

New zoning codes or landlord-tenant rules can also affect your operations and income. For example, the local government may impose a new zoning law that requires you to make significant updates to your rental property. The unexpected expense disrupts your cash flow and causes a loss in revenue.

The Consequences of These Landlord Problems

Most of the challenges we discussed lead to income loss. Whether you’re spending more on maintenance, working with a lawyer for eviction, or planning for a major capital improvement, all these will cost money. The added expenses will make a dent in your income, and the worst ones may require financing or loans.

Apart from the financial stress, landlord problems can take a toll on your emotional and mental health. Did you know that around 67% of landlords report feeling more stressed than they were years ago? Dealing with all the issues we outline above can easily lead to burnout.

Carson City, Nevada

Carson City, Nevada

Chronic stress can lead to even more health problems. Plus, the tiredness can lead to poor decision-making, resulting in actions that further exacerbate the issues of your property. The result is a feedback loop that makes you question whether or not it’s worth it to save the real estate asset.

Why Should You Cut Your Losses and Move On?

At some point, getting rid of the property is the best course of action. Not only are you hemorrhaging money by this point, but the added stress will just lead to even more frustration.

If you don’t want the long delays associated with a traditional real estate sale, working with a cash buyer is your best option. When you let us purchase your property for cash, you can enjoy benefits such as the following.

  1. Preserve Your Remaining Income: Selling your rental property lets you keep some of your remaining income and avoid losing it over unnecessary expenses.
  2. Peace of Mind: For most landlords, gaining peace of mind after a stressful experience is more than worth it.
  3. Potential for Other Investments: Once you access the equity of your rental property, you can use the proceeds to invest in more promising property or another type of investment altogether.
We Buy Houses As-Is in Reno, NV

We Buy Houses As-Is in Reno, NV

What Types of Homes Do We Buy?

Reno Area Home Buyers provides cash offers for rental properties and other types of real estate, regardless of their condition. If your building has these issues or attached legal problems, you can still count on us to proceed with the sale.

  1. Death Estates: Managing the property of a deceased loved one is costly. Instead of shelling out money for maintenance or taxes, sell the property to us.
  2. Rundown Homes: Even if the property seems unsalvageable, rely on us to provide a competitive cash offer.
  3. Dirty or in Bad Shape: We won’t ask you to make extensive fixes on rundown homes. Our team will proceed with the sale regardless.
  4. Renovations Gone Wrong: Botched remodeling attempts can be costly to address. Avoid the extra expenses by letting us buy the property.
  5. Cracked Foundations: Even if your rental property has structural issues like cracked foundations, we will still evaluate and provide a reasonable cash offer.
  6. Trash-filled: Don’t expose yourself to health hazards by attempting to clean out a trash-filled home. Sell it to us and move on to a cleaner home.
  7. Bad Rental Property Tenants: Let us take over your rental property, even if there are occupants living in the units.
  8. Hoarder Homes: We won’t ask you to clean out the accumulated belongings.
  9. Vacant Land and Houses: Instead of paying property taxes and maintenance over a property you don’t live in, sell it to us and make some use of the proceeds.
  10. Code Violations: Escape the headache of addressing code violations by selling the property to a cash buyer.
  11. Needs Repairs: We won’t require you to make any repairs, unlike buyers in a traditional sale.
  12. Damaged Homes: Whether your home has storm, termite, or fire damage, count on us to proceed with the transaction.
  13. Manufactured Homes: We also buy mobile or manufactured homes, such as RVs, as well as single-wide and double-wide trailers.
  14. Abandoned: Access the equity of an abandoned property by working with a cash buyer like us.
  15. Fixer-uppers: While a property has investment potential, you may not have the budget to cover the improvements. Sell the property to us, and we’ll take care of the rest.

Get Freedom Now

You don’t have to endure the burden of management any longer. When you engage with Reno Area Home Buyers, you can immediately begin the process that leads to freedom. Work with us today, and you can take your exit within the following week!

Sell the Property to Us for Cash Quickly

People that buys homes for cash

Reno Cash Home Buyer

When you work with us, you can expect a streamlined process for your convenience. Here’s how it works.

  1. Send Info: Using our form, send details about your property.
  2. Get a Free Cash Offer: We will evaluate your rental property and provide a competitive cash offer.
  3. Cash Out: When you accept the cash offer, we can schedule the closing timeline. Cash out your check and use the equity for whatever purpose you see fit.

Ready to learn about the current value of your rental property? Get your free cash offer now!

Read Our Reviews and Our Process

Thanks to our convenient home-buying process, we’ve earned the satisfaction of many Reno property owners. Check out what they have to say or learn more about our methods to learn why we’re Reno’s most trusted cash home buyer!

 

Get Your No Obligation Offer in 24 Hours or Less!

Give us a call at (775) 600-4506 or fill out our form to get started.