It is your responsibility to take care of you tenant’s safety as the owner of the
house. The tenant’s safety should be your top most priority. You should set rules
and regulation for safety measures.
2.DELAYED RENT PAYMENTS
Renting your house gives you an extra income but not the same at all. Some landlords
rely on the incomes made by these renting. Some tenants can’t pay the rent on the exact
due date given. Sometimes resulting to the landlord’s shortage of budget.
3.TIME & PRESENCE INVOLVEMENT
We may not know but soon enough you’ll need to pay great attention on your rental property.
Eventually you’ll have to check on it from time to time cause such problems would
appear. You’ll eventually need to interact with your tenants more often and do
paperwork of some kind.
4.INSURANCE & TAXES
Even though you have or you don’t have tenants you’ll still be facing the cost of property taxes,
the cost insurance on the property. What’s more painful is you’ll pay it with the money out of your
pocket if u don’t have any tenants renting the house.
5.TIED UP MONEY
It has a big possibility that you won’t see any return result on your income for a long time, long term
view is the best for this kind of situation. Its either you open it for renting or just sold the house
which both will take time.
6.PREPARATORY & ADVERTISING COST
Before opening the house to the public you need to renovate the house, re-design it,supply furniture
and stuff,a gas safety certificate and also energy efficiency certificate. You’ll also need to pay for the
advertising to find some tenants.
7.EXPENSES THAT ARE UNEXPECTED
Well its expected that problems may occur around the house like water leak,the maintenance,and many more
problems that soon may occur, sometimes those things means big bills.