Being a Landlord
Lots of people are playing the real estate game by becoming landlords. According to this NY Times article, its not that easy being a landlord.
"THOUSANDS of fledgling landlords are scooping up small multiple-unit dwellings throughout the New York area - pristine two-families in the Rockaways, for instance, or vintage buildings along Manhattan side streets or in Brooklyn's brownstone enclaves - but some of them do not quite know what they are getting into.
Being a landlord means dealing with multiple challenges: choosing the right tenants, planning for a panoply of legal, financial and maintenance obligations, navigating the bureaucratic maze and understanding that for the small landlord there are no economies of scale - no discount on the low-volume fuel bill; top dollar to the tradesman called in because there is no plumber on staff; in fact, probably, no staff. So just who does take out the garbage?"
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"THOUSANDS of fledgling landlords are scooping up small multiple-unit dwellings throughout the New York area - pristine two-families in the Rockaways, for instance, or vintage buildings along Manhattan side streets or in Brooklyn's brownstone enclaves - but some of them do not quite know what they are getting into.
Being a landlord means dealing with multiple challenges: choosing the right tenants, planning for a panoply of legal, financial and maintenance obligations, navigating the bureaucratic maze and understanding that for the small landlord there are no economies of scale - no discount on the low-volume fuel bill; top dollar to the tradesman called in because there is no plumber on staff; in fact, probably, no staff. So just who does take out the garbage?"
More... (registration required)
posted by Little_Silvered at 9:16 AM
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