Are You Ready for the Realities of Being a Landlord? Managing a rental property involves more than collecting monthly rent. It’s a commitment that can be time-consuming and challenging. For example, you may get maintenance calls at all hours of the day or discover damage that needs to be repaired before a new tenant moves in. There’s also the risk of tenants missing payments or breaking their lease, which can add unexpected stress and financial strain. Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don’t have a few thousand dollars on hand to take care of these repairs, you could end up in a bind. If you’re considering renting primarily for an extra income, remember, there are additional costs you should anticipate. You still need to pay mortgage and property taxes even if the rent doesn’t cover all of it. Plus, landlord insurance typically costs about 25% more than regular home insurance, and it’s necessary to cover damages and injuries. You need to also plan to spend at least 1% of the home’s value annually, more if the house is older. Check out below to see what home has just been listed in Stonebrook in July 2025:
7255 Stonebrook Drive, Canton: 4 bedrooms, 3.1 bathrooms, 3,125 sq. feet, 3 car garage, Listed Price: $675,000
Stonebrook Home Just Listed For Sale
July 2025
To sum it all up, selling or renting out your home is a personal decision. You need to have a pro on your side to help you feel supported and informed as you make your decision. For more information on Stonebrook, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.