Tired of being a landlord

[Steven Stokes]

So I'm going to need to rant for a second.

I have a few properties that are a buy and hold investment and I'm landlord. Most of them are run by a property management company which I could go on and on about the pitfalls of dealing with a PM. Because you never know, a PM that's been good for one quarter might be MIA the next.

Plus the tenant issues can sometimes be ridiculous.

I've been divesting in these units for awhile. But I'm probably going to unload the rest in 2014.

Does anyone think I should keep them or am I being too hasty to get rid of them especially since they are making a good profit.

[Gerald K.]

When we take on new tenants, we show them where all the utility shut offs are and explain how to use them - we then have them initial that they have been shown them and understand how to use them. We deal with issues during normal business hours and that's when most repairs can be taken care of anyway. Check out Podcast 37 with Aaron Mazarillo - http://www.biggerpockets.com/renewsblog/2013/09/26/lifestyle-investing-podcast-aaron-mazzrillo/

He touches on some topics about dealing with tenants without losing your mind. There's no reason you should receive a call in the middle of the night. Also, one book I would suggest with a lot of ideas to make things easier for you is Landlording on Autopilot, by Mike Butler.

Before selling cashflowing property, I would first check what could be done to improve property management. In the end, it would depend on you and your goals, and if the property is in an area that attracts the type of tenants you're comfortable dealing with.