Usually, if nothing\’s going wrong, or I don\’t have a turnover to deal with, practically none. Although I do try to be a little more punctual about shoveling the walk and mowing the grass if I wasn\’t sharing the house with renters. When I\’m looking for new renters, it takes up a LOT of time, however — creating adds, updating them, answering phone calls, showing the apartment, screening applicants, etc. It doesn\’t dramatically alter my lifestyle, but it is a significant side project.

During turnovers, I usually take the move-out and move-in days off from work, and spend most of the night repainting the apartment, doing general maintenance work, changing the locks, etc.

And of course, when the odd plumbing problem happens, I spend a few hours hanging out with the plumber.

Long answer to your short question! The best answer I can give you is that it varies — greatly. It\’s impacted by the condition of the house (and the condition you want to keep it in), how hard your renters are on it, and how often you have people moving in and out. And, of course, lady luck.

I have DEFINITELY learned a lot from my duplex ownership — about being a homeowner as well as a landlord/property manager. I’m not ready to start adding more properties yet, this is kind of an on-the-side thing for me right now. In a few years, I’d like to move into a single family home, and rent out both units in the duplex; possibly start adding more properties after that. I know that most people in the real estate investment business seem to be VERY motivated to add properties quickly, however, I’d prefer to keep things on a level that I can comfortably handle for now, while keeping a separate day job.

-the landlady

What is your situation regarding purchasing more rental properties? Have you thought about branching out? It sounds like you have learned a lot from your duplex ownership. Is it time to take it to the next level? Or, will there be a time to go the next step?

Thanks,

Trisha