How Rental Properties Don't Provide a Good Return on Investment

Selling Your Spokane, or Coeur d’Alene, ID, Rental Properties Quickly

At first, owning a rental property seems like a promising venture. You earn passive income regularly and enjoy working with tenants. However, problems like unruly occupants and property damage can pile up. Being a landlord becomes an exhausting chore, and you’d rather just get rid of the real estate asset. Sound like you?

Unfortunately, selling investment property is not so simple when you follow the traditional methods. Thankfully, you have us at The Easy Home Buyer to help out. Our team will help you quickly and conveniently get rid of your Spokane or Coeur d’Alene rental property.

cash home buyers in Spokane family business

Chad Home Buyer Team in Spokane WA

Most Common Landlord Problems

Owning a rental property comes with a unique set of challenges compared to being a traditional homeowner. Here are some things you may encounter.

Bad Tenants

As stringent as you are during applications, there’s no guarantee that a tenant who looks good on paper will be in real life. Some people may be model tenants initially, but they start showing more unruly behavior as years pass. They may fail to pay rent on time or may damage the property. In rare cases, the occupants may perform illegal activities that put you and every other tenant in danger.

Property Damage

Regular maintenance may require up to $1,800 for small properties, with the value reaching higher amounts the larger your building. However, costs can easily skyrocket if the property is old or has problem tenants who have no issue damaging the building.

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spokane logo

Legal Compliance or Regulatory Changes

Property owners renting units must stay in compliance with regulations regarding these arrangements, especially ones specific to Washington or Idaho. Remaining compliant with these stipulations may require you to spend significantly more than expected, especially when new zoning requirements arise.

Financial Management

Around 45% of landlords handle their own properties. While most of these are small operations, bigger ones may overwhelm the property owner, especially in areas like financial management. Collecting rent, recording expenses, and paying taxes can be complex. You may need to hire an accountant or a property management team to handle these transactions, adding to your expenses.

Vacancy Issues

While the ideal scenario is to have all your units occupied, this is seldom the case. Having lots of vacancies can lead to loss of income.

Environmental Problems

Environmental issues can be varied, from pest infestations to rare weather events that leave extensive damage on the property. Plus, these external factors can affect the desirability of your property, leading to higher vacancy rates.

Spokane Washington

Spokane Washington

How Rental Properties Don’t Provide a Good Return on Investment

From the problems we outlined above, you can see that landlords often face consequences that make rental properties not worth the hassle. Here are a few issues that may emerge.

Higher Expenses and Disrupted Cash Flow

From the increasing maintenance costs to unplanned expenses caused by severe weather events, plenty of situations can result in disrupted cash flow. Don’t forget tenants who fail to pay on time as well as vacant rooms that don’t earn any money. Evicting a bad tenant can also be costly, requiring you to shell out up to $10,000 for each one.

Emotional Exhaustion

Dealing with unruly occupants can be a stressful process. From the legal battles over eviction to the general ruckus caused by the tenants, managing a rental property can easily lead to burnout. Your emotional and mental health may take a hit.

Legal Liabilities

Owning a rental property can expose you to some legal issues. The landlord-renter laws are just one example. Premises liability and property code violations are other significant legal concerns for landlords. If you fail to follow these rules, you may face severe penalties and even civil or criminal lawsuits.

Safety Concerns

Some tenants may do risky activities that could endanger all occupants. Other tenants may become hostile if they’re due for eviction or are being investigated for criminal activity, making them a safety concern for landlords.

Selling a House in Bad Shape — The Process With Us

What Determines That a House Is in Bad Condition

Cut Your Losses and Sell the Property Quickly

If the problems you’re facing result in significant expenses, legal issues, or burnout, then selling investment property may be the ideal course of action. Accessing the equity and using it for a better investment will help you restart and regain your losses.

However, selling rental property the traditional way isn’t easy. Unlike residential properties, additional steps are required for commercial real estate. The extensive due diligence and engagement with other professionals increase the expenses and prolong the process.

The quickest and most convenient way is to work with a cash buyer like us at The Easy Home Buyer. Instead of undergoing the long process of a traditional sale, we treat this transaction like a simple sale. We buy your rental property in exchange for cash, regardless of current condition or attached legal issues. You can be free of your burden as quickly as a week.

There Is a Solution — Sell the Property for Cash

The Problem of Non-Paying Tenants on Landlords

What Types of Rental Properties Do We Buy?

Our team purchases residential and rental properties as is, regardless of their current state. If your real estate asset has the following issues and more, trust us to proceed with the sale.

  1. Cracked Foundations: We will still proceed with the transaction if your rental property has structural issues like cracked foundations or walls.
  2. Code Violations: Instead of shelling out more cash to address code violations in your rental property, get rid of the headache and sell it to us.
  3. Vacant Land and Houses: Make use of unoccupied real estate through a cash buyer, allowing you to access the trapped equity.
  4. Hoarder Homes: No need to get rid of all the accumulated stuff. We will take care of the cleanup after the sale.
  5. Trash Filled: Attempting to clean yourself may expose you to health hazards. Leave the property as is, and our team will handle the rest.
  6. Death Estates: Cash buyers like us offer an easy way out for those who don’t want to deal with the ownership of an inherited property.
  7. Damaged Homes: Whether your rental property has fire, termite, or water damage, you can count on us to proceed with the transaction.
  8. Manufactured Homes: We also purchase manufactured and mobile homes for cash. These include the following.
    • RVs
    • Single Wides Trailer Homes
    • Double Wide Trailer Homes
  9. Renovations Gone Wrong: Fixing botched remodeling projects will incur even more expense. Avoid the headache and sell the property to us instead.
  10. Bad Rental Property Tenants: Unruly tenants can be a source of stress. Thankfully, our team is more than willing to purchase a property with occupants, regardless of their current behavior.
  11. Dirty or in Bad Shape: We buy properties even in the most deteriorated conditions.
  12. Abandoned: Instead of paying property taxes and negligence penalties for an abandoned home, sell it to us!
  13. Needs Repairs: We won’t require you to make extensive repairs to the damages.
  14. Rundown Homes: No matter the current condition of the rental property, count on us to proceed with the sale.
  15. Fixer-uppers: Let our team purchase properties that need extensive repairs or renovations.
the easy home buyer logo

the easy home buyer logo

Sell the Rental Property to Us for Cash Quickly

Don’t let the problems of owning a rental property lead to burnout and loss of income. Instead of trying to salvage a bad investment, take the easier route and sell the asset to us. Simply send the property details to us, and we’ll get back to you with a free cash offer. Use this information to help you decide if selling now is the most cost-effective course if you need to sell my house fast Spokane.

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