Lessons Learned as a Homeowner, Landlord, and House Hacker

Becoming a homeowner, landlord, and house hacker has been one of the most eye-opening and rewarding experiences of my life. Along the way, I’ve encountered challenges, learned invaluable lessons, and grown tremendously. Here are some of the key takeaways from my journey so far:

1. Not Everyone is the Right Fit

One of the most important lessons I learned was from my first renter. He was a first-time home renter with no credit score—it simply said “score is growing.” Despite giving him a chance, the experience was incredibly stressful. He had to be reminded of the lease terms repeatedly, and his expectations were far too high.

In contrast, my current tenant thinks I’m the best landlord ever because I communicate, respond promptly, and handle things in a timely manner. This experience taught me the importance of screening tenants effectively and waiting for the right person rather than rushing to fill a vacancy. Peace of mind is invaluable, and I’ve vowed never to compromise it again.

2. Set Boundaries with Tenants

When tenants know you live in the same property, boundaries can blur quickly. I’ve had to establish firm boundaries, letting tenants know that communication should be via email. In hindsight, it might have been better to have a property manager or someone else act as the point of contact. This could have allowed me to maintain the appearance of being just another tenant.

Boundaries aren’t just for convenience—they’re essential for preserving peace of mind and ensuring professional relationships with tenants. Clear communication and defined roles go a long way in making the landlord-tenant dynamic smooth and stress-free.

3. Always Have Savings

As a landlord, something is always going to come up. Whether it’s a leaky faucet or a larger issue, unexpected expenses are part of the territory. While I’m currently focused on paying off debt, I’ve learned the importance of maintaining a savings cushion. Even small savings can make a big difference when unforeseen repairs or emergencies arise.

Ultimately, as the landlord, the responsibility falls on me to handle these situations. Having a financial safety net not only helps cover these costs but also reduces stress when the unexpected happens.

Final Thoughts

Becoming a homeowner, landlord, and house hacker has been a journey of growth, resilience, and learning. From navigating tenant relationships to managing finances, the lessons I’ve learned have shaped me into a more confident and capable landlord. While challenges will always arise, the experience has been worth it—and I’m excited to continue growing in this journey.