Knox platform for landlords. Frictionless Ownership
Additional streams of income, exclusive tax break eligibility, and investment portfolio diversification are only a handful of the benefits that come along with being an income property owner.
However, many people still choose not to capitalize on these homeownership perks because of one major downfall: taking on the responsibilities of being a landlord.
Being a landlord is no walk in the park. Between taking care of tenants and the home, there’s a lot of work to do. And if you think it’s easy, think again. Here’s why you don’t actually want to be a landlord:
You Don’t Want to Chase After Rent
As a landlord, rental income is a primary source of your investment returns. Rental collections are an imperative part of sustaining the profitability and longevity of an asset… but collecting this bill doesn’t always happen easily.
Worrying about collecting rent can be stressful. It requires immense organization and regulation to keep all the books neat and orderly. Reaching out to tenants who haven’t paid, documenting all received payments, and transferring the funds as needed is a multistep process that holds a significant weight over your profits.
You Don’t Want to Worry About Maintenance Calls
Being someone’s landlord doesn’t just mean you’re on-call during normal business hours. Whether it’s weekends or late into the evening, landlords are always on the clock. Property issues can emerge at any time – and as a landlord, these problems can’t simply be ignored.
If you don’t want to be woken up in the middle of the night with emergency maintenance calls, think twice before taking on landlord responsibilities.
You Don’t Want to Screen Potential Renters
Finding good and responsible tenants is pivotal to maintaining a profitable investment. In an ideal world, matching the perfect prospect to your listing would be a breeze: a great lead would contact you, the sales process would progress without a hitch, the paperwork would be signed, and bingo – your home has the perfect resident.
Unfortunately, that’s not how it happens in the real world. Dishonesty is far too common between prospective renters, meaning that landlords need to maintain a strategic approach to screening their property’s next tenant.
When so much lies at stake here, there’s no room for errors. A bad tenant can inflict serious damages to the home, negligent maintenance can turn small issues into major problems, and missed rents can cause painful financial losses.
Screening tenants is time-consuming, difficult, and risky – making the position of landlord even less appealing.
You Don’t Want to Stress Over Showings
Are you an out of state homeowner? If so, marketing your listed property won’t be easy – especially when it comes down to property showings.
You’ll either have to travel or cough up the cash to hire a leasing agent – both of which are costly and inconvenient. Navigating this scenario also places complications on tenants who may not be able to fit themselves into your schedule. All in all, showings are a headache most aspiring investors would rather pass on.
Solve These Pain Points: Knox Solutions for Landlords
Acting as a landlord requires time, energy, and effort – meaning you’ll really be working for your money. When you’re in charge of the landlord’s responsibilities, owning an investment property is no longer a passive source of income.
Outsourcing the job to traditional property management companies is an option, but it’s not ideal. Hiring a management company digs into your profit margin. Also, these companies typically leave certain responsibilities untended – meaning you still have work to do.
This is the predicament of property ownership. Being a landlord is tough, and hiring management teams is expensive. In many cases, property owners even choose to sell their homes because they want to escape these burdens.
But, is giving up all of the long-lasting benefits of owning an income property worth throwing away in a sale just to avoid being a landlord?
Instead of working for your home, put your home to work for you with Knox Financial. With Knox, it’s possible to build and maintain a seamless, stress-free, and profitable asset.
Looking for a winning property ownership strategy? Look no further than Knox solutions for landlords. We take care of all the pain points associated with being a landlord without cutting into your profits as outsourced property management does. From rent collection to maintenance and everything in between, Knox solves these problems for one flat rate – never tacking on fees or overcharging.
Say hello to frictionless homeownership with Knox Financial. Visit our website to learn more.