Are you thinking about becoming a landlord? This is the ideal role for many people because it can be lucrative and a great way to earn.
This post will look at a few of the main benefits of becoming a landlord and why it is something that could improve your life in many ways.
Varied Job Role
One of the main benefits of being a landlord is that the role is varied. This is not a role where monotony is an issue as you will be spending your time arranging repairs, showing prospective tenants around, carrying out background checks and marketing the property just as a few examples of the tasks that are involved.
If you are someone that would happily never work again in an office environment, then becoming a landlord could be the perfect job for you.
The work can also be rewarding as it is a great feeling to provide a home for people.
Of course, being a landlord is hugely profitable, particularly in the current market. The private rental market has been on a steady rise for many years and currently there is huge demand, which means that you can make a lot of money by renting out your property.
Not only this, but it is income that takes care of itself when you are up and running. Therefore, you could also take on another job and enjoy double the income.
You can also use the services of a letting agent to handle all aspects relating to the property, which would turn this into a completely passive form of income. In addition to this, property is always a smart investment and you should see the value of your investment rise over the years.
Another reason to consider becoming a landlord is the independence that it can provide. Instead of being an employee and having to work for someone else, you can be your own boss and avoid the 9-5 grind.
You will need to make sure that you are available to your tenants in case they need you, but this only involves being available via phone and email and being able to handle issues quickly.
As above, if you use a letting agent then they will act as a middleman, and you will not have to worry about taking calls or resolving issues so that you can enjoy complete freedom and independence.
If you are wondering whether or not being a landlord is right for you, this post should give you a better idea.
This is a role that can be hugely lucrative, especially in the current marketplace, but it is also a role that can be varied, flexible and interesting and ideal for anyone that wants to avoid the 9-5.
Before You Go…
If you are interested in becoming a landlord you might also find the following posts useful;
- What you should know when you first become a landlord
- Steps new landlords should take to prepare a property for tenancy