What Can You Expect From a Landlord Salary?
In the US, there are between 10 to 12 million landlords. If you have some money to invest in properties, then you might be considering joining the ranks, especially if you want to make some passive income.
Of course, this passive income will come with some work attached to it. But ultimately, you’ll be able to make a nice chunk of cash from making this wise investment.
But how much do landlords make? We’ll show you what a typical landlord salary is like and what you can expect!
Average Landlord Salary
Considering that the United States is such a large country, it’s a little tough to nail average landlord income. However, we’d estimate that the average is between $61,000 to almost $100,000.
However, you should know that the range is quite big when you take a look at all the salaries put together. On the lower end of the spectrum, some landlords get paid just $28,500 a year, while others get paid over $124,000!
Here are some things to consider when it comes to landlord pay.
Your Location
If you’ve ever taken a look at a multifamily property for sale, you’ll know that 2 almost-identical properties can vary drastically in price just based on location. One in California might cost 10 times more than one in Ohio.
If you live somewhere with a higher cost of living, then naturally, your income will be a bit higher. Also, if there’s a housing shortage in your area, you’ll be able to raise rent prices more and still get plenty of tenant applications.
Your Properties
Some landlords prefer to manage just one property while others manage multiple. While it does take more work, those with multiple properties have a more lucrative venture.
If this has caused you to want to rent out multiple properties, you should consider hiring a property manager. While this will cost you some money, it’ll be worth every penny spent since you’ll barely have to do anything to generate a higher passive income.
How Well-Maintained Your Properties Are
If your properties are neglected, then your tenants will be making service repair calls all the time. This will be more money out of your pocket.
But if you spend some money upfront to properly maintain your properties, this is a wise investment. There will be fewer service repair calls, and they’ll be for smaller (less expensive) issues as well.
Start Your Property Investment Career Today
Now that you’ve seen what the average landlord salary is like, do you think this might be a better career for you?
While it might seem like landlords roll in cash, it does take a lot of work to keep your tenants happy and your properties safe and updated. But in the end, you’ll have a great way to make some passive income!
If you want to find out more about how to be a landlord, then take a look at our other articles.
If you want to find out more about how to be a landlord, then take a look at our other articles.
Passionate Writer, Blogger and Amazon Affiliate Expert since 2014.
