Pitfalls/problems of purchasing detached single family homes?

Question

I have typically stayed away from buying single family detached residence for investment, but currently have seen few deals worth taking a shot on.  However, I am worried about the daily maintenance cost of it and would like to understand how others have gotten comfortable.  In particular snow removal, maintaining the property during bad winters, and other pitfalls that come with this type of asset.  Its little easier with condos/townhouses as the complex association primarily maintains everything outside of the respective property.  And maybe some folks are like me in staying away from this, when investing the above asset.

Matthew Paul · Answer

A single family house .  I have 6 , snow is the tenants problem , I have to shovel my own drive .  Grass , they cut it , if they dont I call a landscaper and send them a bill .  I rent in B areas , one of the reasons they rent well is the tenants want a yard

Jim Goebel · Answer

@Paul RP

My assumption is that you're either more familiar with multi family or commercial assets.

We have a small portfolio of single family stuff.  Honestly the snow removal and maintenance hasn't been too bad, however a big part of that is getting good tenants.  We have our tenants take care of snow removal, etc.  At least here in Des Moines we need to ensure that sidewalks are also cleared.

The most annoying thing, honestly has been tree and gutter maintenance over time.  In particular, we have a couple houses where it ends up something that needs to get re-visited in earnest once a year or so.

Yep, I'd just advised to get that spelled out in your lease, and make sure you're maintaining good relationships with your tenants.