The state of the housing market has left many homeowners becoming reluctant landlords.

This prospect is risky for homeowners, not only because they’re leaving their old homes in the hands of another person, but also because some don’t have the expertise to be a landlord. First-time real estate investors may be unaware of some of the costs they will incur, reported Bankrate.com.

For instance, normal homeowner’s insurance is not considered enough coverage for a rental unit, since the property’s owner is now considered an “investor,” said the report. Landlord insurance can often cost 25 percent more than a standard homeowner’s policy, and that additional cost is not always covered by rent payments, since there can sometimes be months where the unit is vacant.

Certain administrative costs, such as legal fees, tenant credit screening and the drafting of lease documents, can add up to hundreds of dollars, added Bankrate.com. Additionally, a landlord may need to cover repairs and upgrades, which can run up a bill into the thousands. Landlords should also be aware of the tax burden for investment properties in their area, advised the site.

Owners may want to consider hiring a property management company to handle some of the hands-on work for them.