3 ms·

I thought about renting out property for passive income, but after speaking with a friend locally about issues hes had, changed my mind. Not worth the hassle. I

I thought about renting out property for passive income, but after speaking with a friend locally about issues hes had, changed my mind. Not worth the hassle. In the one case, the tenant stopped paying their power bill and the power company cut them off. The tenant proceeded to tear down the inside of the house and burn it for heat. The kitchen island and kitchen cabinet fronts were burned, for instance. In another instance, when cleaning out a property, he found a miscarried fetus left behind in one of the toilets. Both tenants were also evicted for not paying their rent. So yeah, not worth it.

slfnflctd 2y ago
Those are pretty extreme horror stories, but in general everything I've heard from small time landlords makes it sound like a terrible value proposition even under normal circumstances. The ones it works out well for are the exception. The dwelling rental niche is far beyond over-farmed and is definitely overhyped. As with so many other things in our economy, the big players are usually the only ones with decent margins, and even they have to cut corners and be somewhat lucky on dice rolls to get them.