Alison Hillm…, Other/Just Looking in San Francisco, CA

Is being a landlord considered a full-time job?

Asked by Alison Hillman, San Francisco, CA Tue Mar 5, 2013

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6
Michael Cheng’s answer
It depends on how much time you put into managing properties. I have some clients who can manage their properties on just an hour a month.

Otherwise, if you're going by IRS definitions, you'll need to spend more than 50% of all your working hours managing to qualify as a professional.
Web Reference: http://www.archershomes.com
2 votes Thank Flag Link Tue Mar 5, 2013
NO!
Being a landlord IS being self-employed.
Those who embrace this aspect of the free enterprise process need to understand, being self-employed, owning your own business as it really is, CAN NOT BE an exchange of time for money - which is the defination of a JOB.
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A good landlord understands the multipliers that are available. As a small business owner they are exposed to risk and also reap the benefits.
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Property management....is a JOB!

Best of success to you,
Annette Lawrence, Broker/Assoicate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Wed Apr 10, 2013
There are a few important factors to consider when deciding to become a landlord. Most important is educating yourself on local landlord/tenant laws, fair housing laws, maintenance of the home, and being available if anything should go wrong. I always recommend absentee landlords have someone local to help manage the property.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Wed Apr 10, 2013
It sure can be, and it is NOT for everyone. A person needs to do a lot of soul-searching and research before they jump into that job title. Can you provide service with a smile even when you're dealing with a jerk? Are you ready to respond to petty requests at all hours? Not every tenant will be reasonable or easy to deal with. There is a lot of upside financial potential in real estate investment, but there can also be a lot of agony. Do your homework, make sure it's right for you, because UN-doing it after the fact is not so easy...
0 votes Thank Flag Link Wed Apr 10, 2013
It certainly can be if you've got multiple properties your managing.
0 votes Thank Flag Link Wed Apr 10, 2013
Also, if there are 16 or more units, there should be an on site manager.
If a landlord or manager lives close by to their properties, it can be a short trip to the hardware store
and/or a quick trip to fix something in a unit. Whereas if you're 50 miles away...that could take
half the day.
0 votes Thank Flag Link Wed Apr 10, 2013
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