Landlord woes

[donothing]

I know there are probably many on here that have rental property. Some renters can be nightmares. I have good tenants now but I was just thinking about the ones previous to them. I knew they were dirtbags but they had the cash and the deposit so I let them rent. To shorten the story to the end, after the water was cut off from non payment they kept living there. No electricity, they stayed. No rent, had to go to the magistrate and get them evicted. The mess they left behind was beyond belief. Paths of greasy filth where they walked dirty (no water for bathing). The first day after they were gone I hauled off all of their found on the street "furniture". The second day I started painting, had the carpet professionally cleaned etc. At this point I was only mad at myself because I knew this was coming. What made me mad beyond belief was that just by chance I walked to the back edge of the property and found their dog tied to a fence! This was 3 days after they had gone! No water, no food, nothing! First, I ran and got the dog water. Then I went down to the nearest store and got food. I called the SPCA and was surprised that they sent an investigator out. They got all of the info I had and were planning to charge the people for cruelty. They took the dog and I hope he got adopted. I know lots of people run credit checks etc to attempt to get decent renters. Lots of other renter nightmares over the years but it earns way more money than a savings account.

 

[H2ODude]

I admire people who can deal with being a landlord, and I know it can be a good financial deal if you make the right property choices. However, your post only reminds me that no, this isn't for me. If I had properties, I actually would likely enjoy doing the maintenance and repairs, I sort of like that. But dealing with nasty people and their leavings, not so much. Good luck and glad you've got good tenants now...

 

[SJ1_]

.. I know lots of people run credit checks etc to attempt to get decent renters....

We always run credit checks. Once (years ago) we had someone that was "so
good" that we did not run a credit check. He was the only person we ever had
to actually evict. Never had a problem with someone with good credit, they are
in the minority but it is better to have an empty house than a nightmare

 

[Mulligan]

We always run credit checks. Once (years ago) we had someone that was "so
good" that we did not run a credit check. He was the only person we ever had
to actually evict. Never had a problem with someone with good credit, they are
in the minority but it is better to have an empty house than a nightmare

I rented and moved around a lot my first 10 years out of college. As a renter, I thought the most important bill to be paid was the rent as it provided for a roof over my head. It seems like a fair amount of people now consider it the last bill to be paid after all the needs such as the IPhone, beer,and cable are paid. I could never stomach issues/excuses you have to deal with as a landlord.

 

[W2R]

I admire people who can deal with being a landlord, and I know it can be a good financial deal if you make the right property choices. However, your post only reminds me that no, this isn't for me.

+1
I am so glad that I don't have to be a landlord. There are so many enjoyable things to do in retirement, that I would hate to spend any of my precious time dealing with these issues.

 

[JOHNNIE36]

Reminds me of me days in Michigan when DW and I purchased some rentals. I always worried about collecting the rents and had this idea for when the time came to put the pressure on a deadbeat. I thought about showing up at their door with four big guys with scowls on their faces and carrying clubs. I would then explain to the deadbeat that we were all owners of the rental but the group elected me to collect the rent. They get angry when the rent isn't paid and they think I'm holding out on them. Now it's to the point they don't believe me and want to check on it themselves. You probably don't have the money today or you would have already paid me. You'll have to have it tomorrow because they hate coming back angry. Is there a problem with that?

Always wondered how that threat would go over? What are they going to do, call the cops? However, I never had a problem collecting the rents.

 

[Nords]

The heck with the deadbeats and the evictions, even the good tenants can have problems. Their son didn't mean to fall through the attic but...

They agreed to pay for the damage, but I still had to contact the drywall guy and show up for the repairs. Imagine if their son had been seriously injured or even disabled. The tenants wouldn't sue, but their insurance company wouldn't feel so charitable.

 

[bld999]

First, last, plus a hefty deposit in front before they get the keys helps. That's after the credit report [I make them order a fresh one and give it to me], plus bank statements and balance sheets if self employed, and any other scrutiny you think necessary. Most flakes won't get thru that gauntlet.

I think about quitting ever time i get a vacancy, but I sure like putting the checks in the bank.

 

[WestLake]

Ironic how some tenants think that the landlord is the bad guy.

 

[Walt34]

I admire people who can deal with being a landlord, and I know it can be a good financial deal if you make the right property choices. However, your post only reminds me that no, this isn't for me.

When we were preparing to move to WV DW and I thought about renting the former home. For about five minutes. Between the horror stories I'd seen at work and her brother's troubles with a rental he had we decided there was no way we'd burden ourselves with renting out a house.

 

[travelover]

I have relatives that are flaky renters and always move out and leave the place a mess after the rent is unpaid for months. What amazes me is that they always seems to find a new sucker within a few days and settle in to start the process all over again. Initially I helped them move, but eventually realized I was just one more sucker on their list.

 

[Mulligan]

Reminds me of me days in Michigan when DW and I purchased some rentals. I always worried about collecting the rents and had this idea for when the time came to put the pressure on a deadbeat. I thought about showing up at their door with four big guys with scowls on their faces and carrying clubs. I would then explain to the deadbeat that we were all owners of the rental but the group elected me to collect the rent. They get angry when the rent isn't paid and they think I'm holding out on them. Now it's to the point they don't believe me and want to check on it themselves. You probably don't have the money today or you would have already paid me. You'll have to have it tomorrow because they hate coming back angry. Is there a problem with that?

Always wondered how that threat would go over? What are they going to do, call the cops? However, I never had a problem collecting the rents.

I remember a few years ago a co-worker of mine said he was having a problem with an alcoholic not paying his rent to him on a property he owned. He said he finally went to him and said he was going to get paid one way or the other, either by him or by the insurance company after he burned the house down with his drunk a$$ sleeping in it. He said he got paid shortly after. If he truly did say this, (knowing him as I did, I wouldn't be surprised if he did truly say it) Im sure it wasn't the most legal way to collect

 

[palomalou]

We have very good tenants in our retirement condo. We are renting to them at WAY under market, because they have been no trouble whatsoever, and take at least as good care of it as I will (if not better!). It's worth it not to have to make endless repairs, many trips to inspect, and keep hunting for new tenants.

 

[donothing]

bad guy

Ironic how some tenants think that the landlord is the bad guy.

Very true. Have had tenants knock the thermostat off of the wall and urinate on the carpet on their way out the door. Mad at me because they didn't pay the rent.

 

[donothing]

credit

First, last, plus a hefty deposit in front before they get the keys helps. That's after the credit report [I make them order a fresh one and give it to me], plus bank statements and balance sheets if self employed, and any other scrutiny you think necessary. Most flakes won't get thru that gauntlet.

I think about quitting ever time i get a vacancy, but I sure like putting the checks in the bank.

Unfortunately, this house I was talking about is not one that a person with any money or credit would rent. I am a slumlord with this one. The current renters love it though. Out in the boonies with 15 acres and a pond. The house though-yikes.

 

[lhamo]

Unfortunately, this house I was talking about is not one that a person with any money or credit would rent. I am a slumlord with this one. The current renters love it though. Out in the boonies with 15 acres and a pond. The house though-yikes.

There are reasons people like cheap, rundown properties in remote areas with lots of land -- and it isn't always because of lack of cash flow. Sounds like a good place for a meth house or a grow op. Hope you are able to do regular inspections....

Oh, and this stuff happens in urban areas, too. But more common/easier to hide in rural areas.

 

[fireandearth]

Or maybe they just like their privacy more than snazzy digs. My parents own a place just like that.