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Thursday, July 17, 2008

Landlord Hassle is it Worth It?

Landlords know that managing property is in reality a non-glamorous occupation, which basically involves many tedious tasks.

I'm talking about meeting prospective tenants at 6.30pm on the way back from work when all you really want to do is sit down and have some food and watch TV after a long day.

Facing up to a broken sanuflo unit that has been macerating some big hairy tenants business ( bad enough facing up to your own).

Cleaning out gutters on a rental property on a Sunday afternoon instead of chilling out with a glass of white wine on the patio.

Sitting on the phone for 50 minutes, listening to 'musak' whilst trying to sort out a utilities bill.

I'm sure there are landlords out their that can think of other ' most hated tasks', please leave your comments and suggestions.

Anyway all this seemed far more worth it when the cash was rolling in and a landlords property portfolio value was growing at 20% per annum.

Landlords were on such a high they would literally whistle whilst they worked. ( probably not wise when up close with the broken sanuflo unit).

Anyway is been a landlord worth the hassle in a climate of falling property prices and increasing mortgage payments?

I found this article on the Fool website that gives a fairly balanced evaluation for landlords.

Worth a read - if you can be bothered. I'm off to lie down.

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