Some People...

[Gut Shot]

...just aren't compatible with western society.

And I get to deal with them from time to time.

I have a couple of apartment buildings and, once in a while, we get some crappy renter. We just threw some out. Married(?) couple with three kids. All kids were in diapers, oldest was 5, youngest was a toddler. Apartment was always filthy, rent was always late. The only time I saw the woman off of her fat ass was when she was at the bar drinking. Dad at least had a job.

We finally had enough. People complaining about the noise. Mess in the halls in front of their apartment. Naked kids running rampant. And, of course the apartment is trashed.

They moved out and now I have to go to work. They've pissed on the carpets, knocked holes in the walls and doors and smeared feces on the walls.

The older I get the more I just want to sit in my excavator and make my moat wider and deeper.

 

[BenP]

It's quite unbelievable how some people live and renters are some of the worse. I don't know if they have malicious intent or just no house training so they don't know how to act but it's quite astonishing the things they do.

My mom had tenants that were not that bad but still just can't fathom what went through their brain that said "this is okay, this is normal, this is how life should be"

 

[Nameless Range]

That really sucks, for you and their children. Don't know what the answer is.

 

[noharleyyet]

...just aren't compatible with western society.

And I get to deal with them from time to time.

I have a couple of apartment buildings and, once in a while, we get some crappy renter. We just threw some out. Married(?) couple with three kids. All kids were in diapers, oldest was 5, youngest was a toddler. Apartment was always filthy, rent was always late. The only time I saw the woman off of her fat ass was when she was at the bar drinking. Dad at least had a job.

We finally had enough. People complaining about the noise. Mess in the halls in front of their apartment. Naked kids running rampant. And, of course the apartment is trashed.

They moved out and now I have to go to work. They've pissed on the carpets, knocked holes in the walls and doors and smeared feces on the walls.

The older I get the more I just want to sit in my excavator and make my moat wider and deeper.

Did you evict?

 

[Gut Shot]

Did you evict?

Didn't have to in this case. All leases are month to month and automatically renew unless one party decides not to renew. A month ago we told them that the lease would not be renewed. They moved out on their own.

 

[Gellar]

i have an answer but it’s not politically correct and would trigger a few of our members.

After you dig your moat can you swing by my house and give me an estimate?

 

[noharleyyet]

Didn't have to in this case. All leases are month to month and automatically renew unless one party decides not to renew. A month ago we told them that the lease would not be renewed. They moved out on their own.

Deposit?

 

[Gut Shot]

Deposit?

That $750 dollars won't cover half the cost of new flooring.

 

[noharleyyet]

That $750 dollars won't cover half the cost of new flooring.

No doubt, I'd guess the relief of having to deal with the situation is incalculable.

 

[mdhunter]

I have a couple of buddies that have been successful landlords but they are tough, don’t give second chances, and are willing to chase every dollar.

Now that I am in my 50’s I am just not willing to do that anymore.

 

[SAJ-99]

...just aren't compatible with western society.

And I get to deal with them from time to time.

I have a couple of apartment buildings and, once in a while, we get some crappy renter. We just threw some out. Married(?) couple with three kids. All kids were in diapers, oldest was 5, youngest was a toddler. Apartment was always filthy, rent was always late. The only time I saw the woman off of her fat ass was when she was at the bar drinking. Dad at least had a job.

We finally had enough. People complaining about the noise. Mess in the halls in front of their apartment. Naked kids running rampant. And, of course the apartment is trashed.

They moved out and now I have to go to work. They've pissed on the carpets, knocked holes in the walls and doors and smeared feces on the walls.

The older I get the more I just want to sit in my excavator and make my moat wider and deeper.

Ahhh, the common story of passive income.

 

[Gut Shot]

Ahhh, the common story of passive income.

Passive income? If you have rentals it's anything but passive. If I hired out all the work I'd be in the red. I pay a property manager and someone to mow the grass, that's about it. And even at that there isn't much income at the end of the year.

 

[Gut Shot]

I have a couple of buddies that have been successful landlords but they are tough, don’t give second chances, and are willing to chase every dollar.

Now that I am in my 50’s I am just not willing to do that anymore.

I'm in my fifties as well and thinking about selling because I'm nearing the point where I just don't want to do it anymore.

 

[Gut Shot]

I might write a book about all the insane shit I've seen renters do. Some of it's tragic, some funny and some just leaves you scratching your head.

 

[R.K.]

Passive income? If you have rentals it's anything but passive. If I hired out all the work I'd be in the red. I pay a property manager and someone to mow the grass, that's about it. And even at that there isn't much income at the end of the year.

The only money you really make on it is when you sell.

 

[406dn]

A friend of mine has a rental on the acreage he owns. He also lives on the same property.

A year or so ago, he had a tenant from hell. It took a while to get them gone. They absolutely trashed the place. After they were finally gone, they started cleaning and repairing all the damage. The evicted family had a teen age daughter. She had left a diary, hidden in a hole in the drywall. It detailed that her father was sexually abusing her.

They reported this to law enforcement, and gave them the diary. I don't know how it all settled out, but hope like hell the girl was removed from her family.

 

[Nick87]

Ahhh, the common story of passive income.

I'm in my fifties as well and thinking about selling because I'm nearing the point where I just don't want to do it anymore.

While renting does suck at times. You have to figure this kind of thing in. Good renters and bad ones. Just like any other business. I had two other houses when the wofe and I got married and bought our new house. Things like these renters here is why I opted not to do it. It sucks but sooner or later you know it's coming especially apartments etc. Its never all profit.

 

[Gut Shot]

The only money you really make on it is when you sell.

It has paid for my daughters college, with a little left over. You can make money on them but I'd have to have 100 units to make a living at it. At that point it would be a full time job.

Sad part is, capital gains taxes could easily wipe out any money you make on the sale of the property.

 

[Gut Shot]

While renting does suck at times. You have to figure this kind of thing in. Good renters and bad ones. Just like any other business. I had two other houses when the wofe and I got married and bought our new house. Things like these renters here is why I opted not to do it. It sucks but sooner or later you know it's coming especially apartments etc. Its never all profit.

Yup, we figure about once a year we're going to have to fully remodel one that someone has trashed.

 

[elkduds]

Wife and I each had a rental property for several years, did some 10-31 exchanges along the way. Mine had every disaster from flooded-to-the-top basement to police damage from intervening w suicidal tenant. Hers was very low stress. As noted above, little income until eventual sale of property, and that escaped capital gains tax through an OIL exemption.