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Philadelphia Area Homeowners Forced to Become Landlords

An increasing number of Philadelphia area homeowners are finding out what it means to be a landlord after failing to sell their Philadelphia area homes in one of the worst housing slumps in history.

With home prices down from a few years ago, many home sellers don’t want to take a huge loss when they decide to move. So they rent because they want to wait to see if prices increase again so they can rebuild their equity.

People just really don’t want to be landlords, and they really have no choice.  They can do it themselves or decide to lease their homes by using their real estate agent to handle the transaction, including background and credit checks.

The service generally will cost a landlord one month’s rent, while property management could cost 10 percent-20 percent of the monthly rent. But with rent often set just high enough to cover the mortgage payment, some landlords do it themselves.

If they decide to do landlording themselves, they will probably agree that landlording is no walk in the park!  Dealing with tenants calling day and night, potential lawsuits, vacant properties with no income, evictions, vandalism, shelling out money for maintenance, irresponsible tenants damaging the investment property, etc., can give anyone an ulcer before you know it.

On top of all the problems associated with tenants and toilets, do they really know and understand the landlord tenant laws of Pennsylvania?  Many of these laws have stiff penalties for landlords who aren’t abiding by the letter of the law! 

If you or someone you know has the above real estate problem, fortunately, you don’t have to continue like this. CMT Real Estate can take that problem property off your hands.  Whether your property is vacant or not, whether your property needs repairs or not, we can help.

Having problems getting a non-paying tenant out?  Call us! 

We will buy your property and take care of the problem tenant ourselves.

For fast service call us now at 215-900-3447.

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September 12, 2010 - Posted by | Uncategorized | , , , , , ,

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