How Tenants can make Landlords More/Less Money

 

When looking at the long-term profitability of a property beyond just securing good tenants, it's essential to consider various factors. Recently, while discussing with investors, I learned about the challenges associated with federal housing programs. These programs offer guaranteed rent, but they come with stringent requirements such as extensive paperwork and regular inspections to ensure compliance.

Managing properties under federal housing programs involves meticulous attention to detail. Inspections are a recurring necessity, and any issues identified must be promptly addressed to maintain rental payments. Failure to do so can result in financial losses for both the property owner and the management team.

In my experience, overseeing over 200 properties with Key Realty Property Management, I encountered the complexities of housing a Section 8 tenant during the pandemic. The government's eviction moratorium meant that tenants could withhold rent without repercussions, leading to financial strain for property owners. This situation highlighted the risks associated with relying heavily on government-subsidized leases, as payment delays and non-compliance can impact overall income significantly.

Navigating these challenges often involves legal proceedings and prolonged efforts to recover unpaid rent. However, properties with a diverse tenant base, including reliable cash-paying tenants with good credit history, can help mitigate risks and ensure a steady income stream for investors.

For those seeking real estate investments with stable returns and minimal tenant turnover, Key Realty Property Management of Ohio offers properties with an average tenant stay of 18-24 months. Investing in properties with a track record of attracting low-maintenance tenants can provide a secure source of income over time.

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Contact Brett Young (216) 703-5740 Key Realty and Property Management 

Mega Million Dollar Producer and Award Winning Realtor 1200+ Properties and counting

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