Landlords and Tenants

homealone · #1 05-06-2011, 04:00 PM

Let's face it there is good and bad all around us and both tenants and landlords are no execption to this rule.

There are landlords who refuse to make repairs and only care about collecting their rent payments every month.

Though on the other hand there are tenants who will practically destroy a place they are renting with out a thought.

Either way you look at it when it comes to renting or renting out a place you just never know what it is your gonna have to deal with.

There are no guarentees that the person your renting to is going to take care of the place and the same goes for the landlords also.

It's always a gamble. There are at least laws in place to help people keep the peace, collect debts and make the process of being a landlord or renter more liveable.

flip_it_fast · #2 05-07-2011, 12:55 AM

I don't think I'd like the role of landlord. I wouldn't want to deal with the mess that many people seem to think it is okay to leave behind. I wouldn't want to worry about getting the rent and all of that either. There is good money in it with a steady income but it's probably not for me.

homealone · #3 05-07-2011, 04:48 PM

Everyone is different. Personally I wish I was able to do this kind of stuff. Most of the time I don't think people tear up the homes, but there are always a few bad apples around.

It would be nice if we all lived in a world where people took care of things, but this isn't the case so landlords have to be prepared for a big clean up job if need be and tenants have to be prepared to deal with lazy money hungry landlords..

It's a vicious cycle.

luv2flip · #4 05-09-2011, 11:58 AM

There are tenants out there like that, but it is not right on the good ones to have to suffer because of it, the landlords think they do not have to fix anything because of a past bad tenant. I see this with a lot of friends of mine who pay their rent right on time, keep the place very clean, take care of it, and do minor repairs out of their own pockets, but when it needs a big repair nothing is done.

homealone · #5 05-09-2011, 09:42 PM

Luv2flip that is something no one should go through. Let your friends know that in most areas if a renter pays rent on time and isn't messing the place up then they should look into the local laws on renting. I say this because if your friends the renters are doing what they are supposed to be doing they could possibly pay their rent at the local courthouse and the landlord would be forced to take care of those big repairs that are needed.

It isn't right that good tenants are forced to end up paying for those who weren't, but it seems that is how things go in this world.

Get them to look into the local laws and take the actions needed to get these problems taken care of. Every area is different which is why they need to check out the laws first.

CalRehabber · #6 05-09-2011, 11:02 PM

I've been a Landlord for a few years now, landlording to me is a stressful job and on top of that I'm still working a full time job. Some of my tenants are great, others are absolutely horrible. The best defense I have found against this is to screen perspective tenants as good as you can, including background and credit checks.

The exception to this is the very first tenant I ever got, I wanted to rent the place out as quickly as possible and this particular tenant seemed as ghetto as they come but I took a big chance mostly because he was willing to pay the higher rent I was asking for and I found out later that he has terrible credit. This has turned out to actually be my best tenant, pays rent on time, takes care of the place and makes minor repairs himself. I find myself wanting to keep him as long as possible now and whenever there is something he can't fix, I'll go out of my way to make sure he's happy.

Now as far as most of my other tenants, they are ok but having to get on them constantly about paying the fricken rent just sucks, then there ones that call me for every stupid little thing.

Bottom line is now I dont want to be a landlord anymore, so I'm currently venturing into my first flip and hope this can propel me into more of a flipping strategy instead of buy/hold/rent.

---Mike

flippinout · #7 05-10-2011, 04:07 PM

Cal its great that you took a chance on this person. Looks and a paper trail that you check into can be very decieving. And the fact that you got an excellent tenant out of this chance you took is a real plus.

Its great that people do give others a chance. It doesnt always work out as well as what yours did but everyone deserves the chance to do things right.

homealone · #8 05-12-2011, 04:22 PM

Calrehabber, I am glad to hear that you took a chance on someone and were shown that dark pasts are decieving.

I can't even imagine going throw all that you do to collect rent, make repairs and everything else that you have to deal with being a landlord. I would like to try it one of these days, but for right now it is not going to happen.

I also want to wish you the best of luck on your house flip! I hope it all goes well for you with out to many complications or problems and it is something that you find works out well with you.

Now if you do get into house flipping more and more, are you also going to continue renting the properties that you already have or are you going to eventually work on selling them as well??

luv2flip · #9 05-15-2011, 01:45 PM

I could not be a landlord, I would never make money, could never leave people live the way I see so many of friends have to live, with nothing fixed, and if it is fixed they took their own money to do so, that is not right, I could not screw people over that way.

luv2flip · #10 05-25-2011, 11:41 PM

It seems like we should of called this one Landlord vs. Tenants, with all the different opinions, because in most cases between the two it does end up being a dispute, with no one agreeing with each other.