People often think that renting out your own property is very simple and doesn’t come with many problems. That’s not always true. Property owners often can’t handle all of the different things that need to be done to maintain a property alone, so it’s very common to get help. This past week, I hired some people to do a one time cleaning service for Singapore property owners at one of my places. I had to kick two people out of two different townhomes that I own, and they left a mess behind when they left. There are many things that go on like this on a continuous basis.
I got into purchasing properties because of the financial value each property brings to my life. I learned how to buy low-priced properties thanks to my ex-husband. Before I married him, I was a struggling mother of two kids. He taught me that I could save so that I could earn a mostly passive income with the help of renting out properties. After we were married, I put a large amount of my money into savings so that I could one day buy property of my own. It’s good that I did that because we divorced 5 years later, and I needed a way to take care of my children with more income.
The first thing I put my money toward was a set of townhouses that sit right next to one another. Tenants will often do all sorts of things to your rental units because they know they do not own them. One tenant let the bathtub overflow in the bathroom located upstairs in the one that he rented from me. The second tenant had 3 dogs, even though he was told he could only have one. Those dogs made a big mess. These are the types of situations where hiring someone to help fix and clean everything really comes in handy.