Veronica Dagher
speaker
3,082 appearances
51 recordings
1 series
first heard Sep 2017
last heard Jan 2025
Veronica Dagher’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Want to Become a Landlord? Beware the Headaches and Expenses · 19 Dec 2022
podcast
So Scott Trench at BiggerPockets said, among the contingencies landlords should plan for are unexpected vacancies and the cost of property management.
So have at least one month's rent saved in an emergency fund to help cover vacancies.
And if you're assuming less than $250 per month for repairs and maintenance,
You're in for some nasty surprises, Scott said.
And also he pointed out that these expenses don't always occur every month.
They catch up with their investors in big lump sums periodically over the years.
And so that's all the more reason to keep a nice emergency fund to cover your property if needs be.
You also want to speak with other landlords to get an estimate of tenant turnover, those market rents, and the typical maintenance costs in your area.
You also want to check with home insurance brokers to estimate the cost of the policy you need.
And don't account for things like property taxes.
You can really get schooled on property taxes.
Those are going up in a lot of jurisdictions.
Lawn maintenance, utilities, the possibility of tenants who don't pay their rent.
All these things need to be factored into your estimates.
And so be pretty generous when you're estimating your costs because it's better to overestimate your costs than underestimate them.
Communicate and be proactive in your communication.
If your renter is texting you and asking you questions, don't leave them hanging for a couple weeks or months at a time, especially if they're in an emergency situation, there's a leak or something else that needs to be addressed right away.
When you hear tenants complaining, it's often these absentee landlords that
Leave them in a lurch when they have an emergency situation.
Make sure you're following all the laws, of course.
Showing 1421–1440 of 3,082 · page 72 of 155
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