Is anyone a landlord? - Page 2

**RNG1** · 08-07-2010, 05:56 AM

I tried renting out my old place when my wife and I got married and got our new place. It is amazing it didn't end our relationship. You realize quickly that there are a lot of people in this world that do not approach life the way you do. Recipe for disaster imo.

**jdog** · 08-07-2010, 06:21 AM

I try to forget this kind of stuff but here is the basic story.

I bought a condo for my own use and decked it out. All new everything, paint fixtures, appliances etc.. It was sweet.

Because of my relationship at the time I moved out and decided to rent out my condo.

I found a sweet, smiling single mom who seemed nice enough. The rules were simple, be nice and I will too.

..6 months later:

-They smoked in the place (it was advertised as a non-smoking rental).

-They had multiple pets (no pets were allowed)

-Many call to the police at 2-4 AM ( I was called too)

-Late Rent (Every month but the 1st)

-They broke my new washer and Refrigerator

-Calls from the HO assn about condoms strewn about (Classy)

This sweet lady turned real nasty once you got a case of beer in her. They totally trashed my place that I had worked so hard to sort out.

I ended up taking her to court and won a settlement for about $5000. She then filed for bankruptcy which meant she didn't have to pay shit. I loose. The end.

2nd renters:

nice enough couple. Professional, neat , clean, etc..

I was fooled twice..

These two were actually married to other people, but rented my spot as a hookup space.

From what I could tell they did not live in my spot, but just used it for sex.

They had mounted eyebolts in the walls and celling for some S&M fun. ( my guess anyway)

They eventually broke up and stiffed me for 3-4 months rent.

After this I just sold off the Condo for whatever I could.

Being a landlord means that you are always on call and that your place will be ruined to some degree or another. I just didn't have the stomach for it.

I do have a good friend who is a Landlord for a living. He owns about 50+ condos in Buffalo NY and he makes a good living dealing with this shit. Basically this is a 100% full time job. The nightmares he shares are way crazier that what i have come across, but he makes good money so he sticks it out.

Not me. Never, Never agian.

FFT · 08-07-2010, 09:16 AM

Duplex= No way, too much noise.

Evictions = More than once I have made a great offer, it was this.

"He man I realize your hard on luck but I can rent a storage facility for a month and put you up in a boarding house or motel room." It usually work. I dont know if its legal, but I had no choice.

rlb · 08-07-2010, 01:46 PM

Out of everyone I've asked so far it's 50/50. Which is tough. We don't have a sustainable living situation right now, but she wants to go back to school and the only way we can live somewhere else and make it for a 1 1/2 years on one income is to either buy a multi or rent something, and the rentals we're seeing in our single income budget are teh suck.

**RNG1** · 08-08-2010, 06:04 AM

Damn sorry Jason I had no idea that was your place.

Another serious thought however is to make sure you factor the what if factor into all this "earnings and savings". Meaning, you should never rely on this as actual income but conversely be financially able to carry it when/if you get deadbeats. If you happen to get a solid tenant then consider it a bonus. The main problem is the legal system in this tri state area being so overwhelmed. My brother is an attorney in a small town in Ohio. When I went through my issues a while ago with this he said in his town the process to evict is quick and the most you lose is a month of rent if you act swiftly and the sheriff gets them out quick. My nightmare lasted close to a year and with no help from the legal system whatsoever.

Spencer the Kalmyk · 08-08-2010, 07:55 AM

On the flip side the wife and I will make great tenants... We arent lying about being smokers or having a dog... Willing to cover any damages the dog may cause even though the landlord lists pet friendly... I offered to mow the lawn and pay the whole six months up front...

FFT · 08-09-2010, 11:08 AM

If your intention is to count on the other party to help make ends meet I'd stongly reconsider. One month late is basically the norm, two, three, four isnt that rare, and sometimes they simply dont pay at all. If you find a rental thats affordable you can focus on your life instead of worrying about how some else is going to ruin it. Best of luck.

08-07-2010, 06:21 AM	#12
jdog Shop: Halter's Cycles Join Date: Aug 2006 Location: 08852 Posts: 4,354	I try to forget this kind of stuff but here is the basic story. I bought a condo for my own use and decked it out. All new everything, paint fixtures, appliances etc.. It was sweet. Because of my relationship at the time I moved out and decided to rent out my condo. I found a sweet, smiling single mom who seemed nice enough. The rules were simple, be nice and I will too. ..6 months later: -They smoked in the place (it was advertised as a non-smoking rental). -They had multiple pets (no pets were allowed) -Many call to the police at 2-4 AM ( I was called too) -Late Rent (Every month but the 1st) -They broke my new washer and Refrigerator -Calls from the HO assn about condoms strewn about (Classy) This sweet lady turned real nasty once you got a case of beer in her. They totally trashed my place that I had worked so hard to sort out. I ended up taking her to court and won a settlement for about $5000. She then filed for bankruptcy which meant she didn't have to pay shit. I loose. The end. 2nd renters: nice enough couple. Professional, neat , clean, etc.. I was fooled twice.. These two were actually married to other people, but rented my spot as a hookup space. From what I could tell they did not live in my spot, but just used it for sex. They had mounted eyebolts in the walls and celling for some S&M fun. ( my guess anyway) They eventually broke up and stiffed me for 3-4 months rent. After this I just sold off the Condo for whatever I could. Being a landlord means that you are always on call and that your place will be ruined to some degree or another. I just didn't have the stomach for it. I do have a good friend who is a Landlord for a living. He owns about 50+ condos in Buffalo NY and he makes a good living dealing with this shit. Basically this is a 100% full time job. The nightmares he shares are way crazier that what i have come across, but he makes good money so he sticks it out. Not me. Never, Never agian. __________________ We might not be good but we are slow. WWW.HALTERSCYCLES.COM

08-07-2010, 01:46 PM	#14
rlb Semi-Pro Join Date: Aug 2008 Location: Scotch Plains Posts: 1,330	Out of everyone I've asked so far it's 50/50. Which is tough. We don't have a sustainable living situation right now, but she wants to go back to school and the only way we can live somewhere else and make it for a 1 1/2 years on one income is to either buy a multi or rent something, and the rentals we're seeing in our single income budget are teh suck. __________________ like a cloud dropping rain I'm discarding all thought Century for the Cure

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08-07-2010, 05:56 AM	#11
RNG1 Team MTBNJ.com-Halter's Join Date: May 2008 Location: Closter NJ Posts: 4,197	I tried renting out my old place when my wife and I got married and got our new place. It is amazing it didn't end our relationship. You realize quickly that there are a lot of people in this world that do not approach life the way you do. Recipe for disaster imo.

08-07-2010, 09:16 AM	#13
FFT Crack Whore Join Date: Sep 2007 Location: Pt Pleasant Posts: 959	Duplex= No way, too much noise. Evictions = More than once I have made a great offer, it was this. "He man I realize your hard on luck but I can rent a storage facility for a month and put you up in a boarding house or motel room." It usually work. I dont know if its legal, but I had no choice.

08-08-2010, 06:04 AM	#15
RNG1 Team MTBNJ.com-Halter's Join Date: May 2008 Location: Closter NJ Posts: 4,197	Damn sorry Jason I had no idea that was your place. Another serious thought however is to make sure you factor the what if factor into all this "earnings and savings". Meaning, you should never rely on this as actual income but conversely be financially able to carry it when/if you get deadbeats. If you happen to get a solid tenant then consider it a bonus. The main problem is the legal system in this tri state area being so overwhelmed. My brother is an attorney in a small town in Ohio. When I went through my issues a while ago with this he said in his town the process to evict is quick and the most you lose is a month of rent if you act swiftly and the sheriff gets them out quick. My nightmare lasted close to a year and with no help from the legal system whatsoever.

08-08-2010, 07:55 AM	#16
Spencer the Kalmyk Pro Join Date: Jun 2007 Posts: 3,000	On the flip side the wife and I will make great tenants... We arent lying about being smokers or having a dog... Willing to cover any damages the dog may cause even though the landlord lists pet friendly... I offered to mow the lawn and pay the whole six months up front...

08-09-2010, 11:08 AM	#17
FFT Crack Whore Join Date: Sep 2007 Location: Pt Pleasant Posts: 959	If your intention is to count on the other party to help make ends meet I'd stongly reconsider. One month late is basically the norm, two, three, four isnt that rare, and sometimes they simply dont pay at all. If you find a rental thats affordable you can focus on your life instead of worrying about how some else is going to ruin it. Best of luck.