. I often see landlords not taking very good care of their rental properties. Is it because they only have it as a gold mine for their own retirement? Is it because they don\’t want to worry about anything? It could also just be that they are naturally lazy and their hands are quite far from work. But the phenomenon of a complete lack of interest in anything but money is common. This “tendency” is most pronounced in urban areas, especially where rents are high. However, renting a room is never easy. Many people don\’t even want to ask about it.
The dangers of gas and old wiring
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There is nothing worse than a landlord who is indifferent and also owns an old apartment. An old apartment means a lot of problems. Especially if several different groups of people have lived there over a period of time, each having done a little work to it. Some good, some not so good. Either way, old karma, gas lines, and electrical wiring are not something owners should take lightly. If the crime of common reckless endangerment doesn\’t ring a bell, I recommend that all owners look into it by law. I would also like to mention the obligation for regular inspections, annually for new installations and semi-annually for old installations! Owners who neglect their legal obligations can face some pretty stiff penalties. Also, the fact that many people lived there and nothing happened does not help in court.
Do not underestimate
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Owning an apartment means spending money. It is and will continue to be. No one is going to change that. If you think that buying an apartment is a cheap source of capital, you are wrong. You put at least half of your annual profit back into the property. In other words, $5,000 of every $1,000 goes into a savings account to cover expenses and upkeep.