Renting out a home that you own can be a fantastic source of additional income. It’s a great way to earn additional revenue while paying down the amount you own on the house so that when you choose to sell it, you can maximize your profits. But it is not without risks. There are a number of potential downsides that might occur while renting out your home. When faced with a bad tenant rental situation in St Louis, you may find it is better to simply sell your home for cash to home buying experts like FasterHouse.
One problem that many landlords face when renting out their homes is the cost of repairs. From fixing anything needed to get your home ready to rent to making repairs while your tenants are living there to addressing anything that becomes broken or damaged while they are living there, you will find yourself with an array of expenses as a landlord. One the lighter end of expenses, you might be looking at re-painting or fixing flooring damage. But on the more painful side, you could be spending thousands of dollars on repairs to air conditioners, furnaces, and more.
Another issue that many landlords face occurs when bad tenants fall behind on payments. While you have likely collected a security deposit and perhaps even first and last months’ rent to mitigate late payment issues, what happens if the tenant has missed several payments? In that situation, it may take much more financially to rectify the situation and make you whole again financially.
Depending on the economy in your area, you may find that you are not able to recoup the mortgage payment you owe with a monthly rental. Or experiences with bad tenants may have soured you on the idea of renting anymore. Whatever the reason is, we can help you escape bad tenant rental situations.
At FasterHouse we have years of experience buying homes as-is from homeowners just like you. This experience has helped us to understand the marketplace and to know how to best serve clients who are in your situation.
We can give you cash for your home, helping to balance out the expenses brought on by late-paying tenants, home repairs, and other issues brought about in bad tenant rental situations. If you are struggling with a bad tenant, or you have had bad tenants in the past and would rather avoid renting again for fear of encountering more subpar tenants, then FasterHouse can help.
We will buy your home as-is, meaning we will not require any repairs or upgrades, and will pay cash quickly. This can help you quickly alleviate any additional debts that your tenants have led you to incur during their time renting the property.
If bad tenants in St Louis have negatively impacted your experience as a landlord, then the relief you need is just a simple call or click away. You can contact a friendly home buying expert who knows the St Louis area at 314-926-0660 or fill out this form.