There’s a lot that goes into owning rental properties that people don’t take into account. My 4 unit property last year brought in for revenue $60,000 in revenue. Market rates that number could be $85,000. Now expenses. 36,000 for mortgage, taxes, insurance. I own an additional $5,000,000 umbrella liability policy that costs around $500 per year

I had 2 hot water tanks go last year. $3,000 total in expenses. Dishwasher went in 1 unit. $785 Pest control issue as it’s close to the water and surrounding area has an issue. $1500. That’s up front charge and monthly maintenance plan because I’d rather prevent a problem than not.

I installed 2 outdoor plugs for 2 units because they own electric cars and were running extension cords through a window. Rather not have them endanger themselves doing that. $500 each per plug.

We painted and replaced flooring in common area for $2500. Common area electrical, sewer, water, landscaping, property management, accountant for the year total just under $4500

This brings total profit on the unit to $10,000 per year. We had virtually zero snow removal and thankfully it was a low year in terms of maintenance. But what happens next year if the other 2 water tanks go, or in 5 years when the roof needs replacing, or someone moves out and I miss a month’s rent from the unit? There’s most definitely multiple components to owning and a lot of people are jerks. But we aren’t all jerks. Some of us are trying to build an asset, be fair to people, and benefit in the long term. For as many bad landlords there are, there are scuzzy tenants. It needs to be a partnership.

Yes some people are cut throat businessmen and there’s ways to squeeze a hell of a lot more out of it. But many tenants don’t treat properties with any kind of respect either. Thankfully mine do and I am fair to them in return.