Investing in Rental Property Is Easy, Managing It Isn't

With housing shortages biting and rental prices increases, many are asking "should I invest in a rental property?". With that comes another question: are you ready to take on the responsibility of being a landlord?

When you have some money to invest, it's natural to start looking at whether to invest in property vs. the stock market. It's a subject long debated by financial professionals around the globe. Sadly, there's no easy answer.

This article from Forbes says it well: “It’s impossible to adequately compare the returns of privately held individual real estate investments to the broad-based stock market.” MillionAcres makes the same point: “This question of real estate vs. stocks is tough to answer. There’s no way to reliably gauge individual investment property returns on a wide scale.”

What we can say reliably is that when it comes to analyzing the pros and cons of investing in real estate, one thing that always comes up is the stress and strain of being a landlord. Many homeowners new to rental ownership consider managing a property themselves to save money, without necessarily understanding the level of work that is required.

Property management is not a simple task. Just take a look at Investopedia’s entry on the subject of rental property ownership: they ask “ Do you know your way around a toolbox? How are you at repairing drywall or unclogging a toilet?". Landlords need to respond to tenants whenever problems arise, even when it's inconvenient. Then there's the economic impact of vacancies between tenants and collecting overdue rent. If you're not well prepared or don't have a lot of time on your hands, it can get very stressful, very quickly.

The alternative to self-managing a rental property

What if there was a way you could remove all of the stress of being a landlord, without forking over tons of your hard-earned cash to a traditional property management company? Would it make the decision easier?

Here are some of the many ways that Belong is making things easy, by creating a simple, tech-forward option for those self-managing with the option to outsource all the hard work, too:

1. Guaranteeing rent for homeowners, regardless of when it’s paid by residents
   
   
2. Providing real 24/7 customer support for both homeowners and residents (not just logging maintenance emergencies)
   
   
3. Not charging hidden fees like setup costs and lease renewal charges
   
   
4. Providing cutting-edge marketing and video tours at no extra cost
   
   
5. Taking a human approach to placing the right long-term residents that match your home
   
   
6. Shielding owners from costly evictions if we ever place the wrong people
   
   
7. An app that puts everything at your fingertips — from documentation and cash flow insights to finance and insurance solutions 
   
   
8. Connecting you with the most expansive, vetted vendor network of more than 10,000 professionals that can handle everything from regular repairs to full renovations
   
   
9. Offering insurance solutions that protect you, your home, and your residents
   
   
10. Innovating financial solutions for managing cash-flow on your terms, letting you split the cost of repairs, maintenance, and even your placement fee
    
    
11. Using true market data and real-time interest from potential residents to maximize the value of your home
    

…and we’re just getting started! 

While making a real estate investment requires a thorough analysis on your personal financial situation, with Belong’s ability to take the time and complexity out of being a landlord, you can definitely take those frustrations out of your decision process. Learn more about how Belong is making long-term renting lovable in cities like San Diego, Oakland, Redmond and Tampa.