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Have you ever been a landlord? It's a huge hassle (it's impossible to do property management remotely, let alone in a foreign country), and if you have the wron
by Hydraulix989 10y ago
Have you ever been a landlord? It's a huge hassle (it's impossible to do property management remotely, let alone in a foreign country), and if you have the wrong tenants (an easy mistake to make if you aren't experienced enough), things can end up going pretty badly!
- ams6110 10y agoOf course, there are property management companies that will market the property, screen tenants, handle rent collection, and perform maintenance for you.
- sokoloff 10y agoPMs often take 8% (+/- 2%) of the gross rent receipts for their services. In many places, that is about the same amount as the profitability of renting the place out, meaning that if I am financially able to hold the place empty, taking on the risk, time, and aggravation of finding a PM and having them rent it out doesn't leave me meaningfully better off. So, I'd rather leave it empty.