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Thread: I HATE being a landlord

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    Banned MissTaylor's Avatar
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    Default I HATE being a landlord

    When I decided to move from Austin to Los Angeles, I chose to keep my house. I've owned it just over a year and i love the little guy.

    I decided to rent to a contractor friend of mine who said he would work on fixing it up while he was living there so that I could eventually sell the place.

    5 months later... nothing has been done. Oh, the A/C was worked on. that's it.

    Month after month, rent is never on time. I can't even get the jerk to send me the signed lease back.

    I feel like I have to sell the place. I'm struggling each month just to make ends meet in Los Angeles and with my place in Austin. I haven't paid my HOA fees since January and I now owe them 800 dollars.

    I feel like such a failure.

    I can't even get my tenant to call me back or return a text message. I don't know what i can do at this point since I don't have the signed lease. I've probably really screwed myself.

    Any advice?

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    God/dess scarlett_vancouver's Avatar
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    Default Re: I HATE being a landlord

    Shit, no. But I have someone living in my place this summer with the same idea (he's supposed to do renos)

    One thing I always do when people piss me off in a legal kind of way is contact mediation services. Usually just that step is enough to scare people who are trying to screw me. Can you do that?

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    God/dess Silverback's Avatar
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    Default Re: I HATE being a landlord

    Quote Originally Posted by MissTaylor View Post
    Any advice?
    Unless you plan on moving back soon, sell it. Long distance landlordship was one of the more frustrating things I'll never do again.
    "He will come in one of the pre-chosen forms. During the rectification of the Vuldrini, the traveler came as a large and moving Torg! Then, during the third reconciliation of the last of the McKetrick supplicants, they chose a new form for him: that of a giant Slor! Many Shuvs and Zuuls knew what it was to be roasted in the depths of the Slor that day, I can tell you!"

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    Veteran Member Jeanette's Avatar
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    Default Re: I HATE being a landlord

    I don't have advice, but this just proves how important it is to screen tenants. Get certified cheques for first and last, or cash, and make sure you have a signed lease and postdated cheques. I've never in 8 years paid my rent late, or even had to see my landlords because there were never any problems that would warrant it. My current landlady lives in another Province and it seems like the easiest thing ever for her, so the long distance thing does not have to be bad.

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    God/dess Emily's Avatar
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    Default Re: I HATE being a landlord

    yeah, just sell it

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    Default Re: I HATE being a landlord

    Can you PM me about this please? I'm in the know

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    Veteran Member StuartL's Avatar
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    Default Re: I HATE being a landlord

    Just last week I was asked by a good friend to help him move out of his appartment in London. He's a nice guy and we get on well so off I go.

    When I got there, his landlord was there too. He was being evicted!! He'd not paid a penny in rent since September and in total the landlord was down by about £10,000. Worse the appartment - I'd never been there before - was trashed. lots of work to do.

    This was a real eye opener to me as to what damage a destructive tennant really can do. I felt very sorry for the landlord who was a very nice guy.

    I helped with the 'move' but in reality, I was more part of the eviction team than anything else.

    All very strange.

    The only advice I can offer is to take stuff like this VERY seriously. And never rent to people you know. Property is a tough business. Keep personal feelings separate.

    Good luck.

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    Featured Member snoopy's Avatar
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    Default Re: I HATE being a landlord

    evict your "friend". try to do it nicely otherwise you'll have a problem. you're going to have to swallow your pride and ask him to leave like he's doing you a favor (i know, i know, try to ignore the gag-reflex), e.g. you've got a real tenant lined up, your parents who are your partners are going to rent it out, etc.

    DO NOT TELL HIM THE TRUTH! i.e. he's a waste of a friend, cheating, lying scumbag who takes advantage of his friends.

    contact a realtor and get a real tenant that will pay regularly. try to rent only to a reasonably sized corporation (if the house is nice, location, schools, etc.).

    expect to pay a finder's fee. but it'll be well worth the elimination of the aggravation.

    my father almost sold a house we were renting out out of aggravation like this. i convinced him to let the realtor have a crack at it and also invest some $$$ into it (for 20-years he did bumpkus).

    while we lost an addt'l 6-mos. of rent (and I had a lot of dad aggravation during this time ) due to renovations and holding out for the right tenant but we ended up renting for twice what the last guy was paying and to a top-notch company (Fortune 25), so we NEVER worried about the rent.

    if you think you want to keep it (i'd say keep it if there's no debt - but i'm guessing the HOA has lien), kick the guy out and re-do it/clean it up, and market to a better clientele (if possible). it's worth the initial aggravation to have it run smoothly. the money/house should be working for you, not you for it.

    if the situation doesn't allow for all that, then bail after kicking the guy out. friends and money should not mix.

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    Banned MissTaylor's Avatar
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    Default Re: I HATE being a landlord

    I would like to hang on to the house so that we have equity when we go to buy a house in Los Angeles.

    If I could even get him on the phone I would tell him he's got to get out. I never got a deposit from him, I never got the signed lease. I really kind of hate him right now.

    I'm going to see about refinancing and maybe that will help so I'll actually be making a profit and can get my HOA fees paid off.

    I will read and re-read everyones advice. i can beat this. I don't know why it's got me so down but it does.

    My co-worker was just in here telling me about a renter she had. She had to get a court order to get them out and when they went to the property, the garage had been burned down and there was a dead body inside.

    At least it's not that bad for me!

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    God/dess LuckyOne's Avatar
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    Default Re: I HATE being a landlord

    If it were me I would ask him to leave nicely and then hire a property management service to rent it out and deal with tenants. I don't know how the eviction process works in texas.

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    Default Re: I HATE being a landlord

    Hon, I think you have the upper hand. This is funny we're in totally opposite situations! I rented from a "friend" who basically refused to allow me to sign a lease, which is good now because I want to get the F$ck out!! Well, this little bastard basically threatens to kick me out of my house at least once a month. I will be honest we generally pay rent on the 5th, but I don't think that's a big deal. He tries to charge me money for various things that go wrong with the hous e(as in things that are normal wear and tear, not my fault) and it's to the point where I am uncomfortable in my own home. He is literally terrorizing me. I hate him so much. I can't wait to get the fuck out of here so I can file a report with the BBB and anyone else who will listen. Sorry to thread jack. My point is I think you can evict someone pretty easily
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    Default Re: I HATE being a landlord

    Quote Originally Posted by LuckyOne View Post
    If it were me I would ask him to leave nicely and then hire a property management service to rent it out and deal with tenants.
    Yeah, maybe a management co. is the answer if you're not ready to sell -- and in this market (depending on your neighborhood in Austin) I bet you'd like to wait a bit.

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    Banned MissTaylor's Avatar
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    Default Re: I HATE being a landlord

    I would like to wait to sell. It's my little project...but projects are hard to complete when you're 1200 miles away. haha.

    He's getting a month ahead on rent and staying in contact with me. I told him as long as he stays in touch, I don't freak out.

    I plan on going through a property management company once I get my house refinanced. At this point, I'd be losing money and that's no good!

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    Default Re: I HATE being a landlord

    Since you are now a landlord, you need to become educated in landlord/tenant laws. It varies by state, but on the whole, the laws are in favor of the tenant.

    It may be worth it for you to fly back down to Austin, personally pick up that lease and add an addendum to it that states your friend is getting less rent charged since he's willing to do renovations on the house. It should also be stated that any renovations must be in written form prior to renovating and signed/approved by you. That way, he can't go ripping walls down. It should also be stated that he will be charged for the completion of any renovations should he move out before they are completed.

    In fact, now that I'm thinking about it, it's your wisest bet to contact an attorney about what you can and cannot do in this situation.

    Me, personally, I would never rent to someone on the promise they'll do renovations. 1) Contractors build great houses, but they rarely live in them and 2) I would be too nervous that they would renovate due to their likes.

    Good luck, though!

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    Default Re: I HATE being a landlord

    The tenant that follows all trying to get into your unit, is the best one, no matter how long/hard they are to find.

    I had a one bedroom that was vacant for months with constant turn aways, ended up meeting a kid who applied via all the steps, filled out the lease, asked questions, did everything, and now he's living there and pays rent religiously.
    People are not ruled by their memories.

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