Top Hidden Costs of Owning Rental Properties | Oak City Properties

Abstract

Understanding Your Money Flow Owning a rental property can be a wise investment, especially in North Carolina. While the trend has shown an increase in people choosing to rent, it's always wise to understand the financial responsibility of owning investment properties. There are often "Hidden" costs associated with owning rental property. Maintenance Having a tenant in your property doesn't mean the maintenance stops! As the landlord, you will be the sole individual responsible for the 24/7 repairs. Property Management Fees If you're not the kind of person who wants to deal with the prospects of a vacant rental property or the accounting/financial obligations, it may be worth your time to contact a property management service. A full management service will market the property, find tenants, provide 24/7 maintenance, help with accounting/tax services and deal with any court appearances in the event of an eviction. At Oak City Properties, we have been helping those in the Raleigh area purchase and sell homes for years! Whether you are a family trying to sell your home or a landlord wanting to downsize your rental portfolio, our full-service property management company is here to help.