Pros & Cons of Being A Landlord

When was the last time you considered your house situation? Becoming a landlord isn’t for everyone, but the option can become a lot more desirable when buying a second home. You know that a second home will add an income to your bank account, and yet the idea of being a landlord may not be something you’re all that interested in. 

When you get mortgage quotes to determine whether you can buy to let property and become a landlord, you need to discuss what it means for you to be one. That means some lengthy conversations with your financial advisor and speaking to the right mortgage advisors, too. Comparing the pros and cons of taking out a mortgage to be a landlord is essential, and this can help you determine whether you should own a house on behalf of someone else. Let’s discuss the pros and cons of being a landlord below.

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The right mortgage will make all the difference

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1. More income. One of the top pros of being a landlord is the income that you can have with it. You’re going to be able to have the mortgage covered by someone else when you rent out your property, and the rental income will help you to finance the rest of the taxes, insurance and repairs that need to be made, too.

2. It’s great for tax deductions. The benefits of owning a second property are clear, and you can chat to your bank manager about those! You can make business tax deductions, the cost of the property, depreciation, mortgage interest and more. As a rental investor, you’re going to get better benefits and gain more significant savings as a result.

3. The property will appreciate it. Over time, the house will be potentially worth more. This means that you will have a better resale value later on, and that’s everything you need as a successful landlord.


  1. It takes time. It takes a lot of time to manage a property. The income from it may be a passive one, but it’s not a hands-off thing when you’re a landlord. You are going to be putting a lot of work into owning a rental property and you have a high level of responsibility. From advertising and collecting rent, you have to maintain it and possibly evict people, too.
  2. There’s some risk. Renting your home to relative strangers – even with a credit check – can be difficult to keep up with. If you choose to be a landlord, you’re choosing to risk your property being damaged or risking your mortgage not being paid if your tenants don’t pay. 
  3. You have to make repairs. A house doesn’t just stay up on its own. There’s maintenance and repairs to be made and many can’t be done DIY by yourself. For some tasks like roof maintenance, you would have to get a Gutter Cleaning Indianapolis specialist in to do the job right. If you don’t make those repairs or do them poorly, you’re going to be liable for a fine. If you want to be a landlord, you have a responsibility to your tenants. You need to take that on board and take it seriously. 
  4. Uninvited pests. No landlord or tenant wants unvited pests as they are a challenge to control. By the time you have noticed them, they may already be established – presenting a serious health risk and damaging property. This is when experts like are essential so that pests are controlled to prevent damage to buildings and fittings, distress to inhabitants and the spread of disease.


The rental sector has more than doubled in the UK since 2001, with a massive 5.4 million privately rented households. Due to the current financial situation, this trend is predicted to continue, with more than half of 20-45-year-olds expected to rent privately.

Taking your first steps towards becoming a landlord is always exciting, but it’s not always going to be easy. With problem tenants, maintenance and repairs and financial obligations, i.e. insurance, hopefully, these pros and cons have given you something to think about.

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