![]() Utility Expenses: Utilities can be paid by the tenants or by the landlord depending on the agreements they have.The landlord is usually responsible for making the repairs needed on a property. Repairs Expense: Repairs and replacements around the house usually cost around 1% of the home purchase price annually.Property managers usually charge 8% - 12% of the gross rental income. Property Management Fee: Property managers can help you manage your property and resolve tenant conflicts.If a tenant is hurt, then your liability coverage can cover expenses. Landlord insurance usually provides liability coverage to your rental property. Landlord Insurance: While landlord insurance is not legally required, you might not be able to get regular home insurance if you are renting your property to others without landlord insurance. ![]() The landlord will have to pay insurance premiums based on how big the liability limit is, what incidents it covers, and the value of the property.
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