Do you own a rental property in Montreal? But do you know what being a landlord really means in Montreal? It’s a far cry from what many investors imagine…
Owning a rental property sounds like a great idea. You can buy cheap, find tenants, then make a profit as long as you take care of the property… Easy, isn’t it?
Unfortunately, it’s not that simple. You could (like many other landlords) find out the hard way what it really means to be a landlord in Montreal. your privacy takes a hit. No more vacations, no more weekend getaways… all because you’re too busy with your landlord duties.
It’s a job
Managing a rental property will keep you busy. You’ll have to find the property and take care of the work, then find tenants and answer the call whenever they need something. If they call in the middle of the night because their toilet is overflowing, you’ll have to take care of it. What does it mean? No more vacations. Otherwise, what happens if the toilet overflows while you’re abroad?
It’s time
Some people want to take on a rental property when they already have a full-time job. They’re often surprised to discover just how demanding property management can be… It’s like a second full-time job! Finding your tenants, fixing what’s broken, it all takes time. You may not be able to take care of your other work. And that’s with just one property! People who own two or more are even busier.
It’s money
A rental property is never sold cheaply. Even though you earn income from your tenants, you still have expenses to maintain, repair and modernize the property. If your tenants destroy their home before leaving, you’ll have to deal with that too. In short, the expenses pile up and the profits aren’t always there.
It’s stressful
All of the above put together create stress! You have to think about everything, and you’re constantly in worry mode, perhaps even dreading the thought of opening your mailbox to find an envelope with very bad news. It’s not a life.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties with unpleasant or damaged tenants). May we make you an offer on yours?
