RENTERS: NEVER AGAIN LIKE THIS LAST TIME

[64DartGTinAZ]

My problem with renters is that if for some reason the place becomes uninhabitable, your obligated to put them up somewhere else. ---o< snip o<--- My Mothers house, 5 years same tenant, never a problem, rent doesn't come, no answer etc. A couple weeks go by and she wants to go there(several hour drive). The locks were changed etc. I get in the house with the police there, and there is not one 4x8 sheet of sheetrock intact in the whole place, carpets, appliances, cabinet doors gone. Anarchy symbols and profanities carved in the original hardwood floors.

Ugghhh...more memories unearthed.

Had to get a tenant put up in a motel - motel wouldn't let me pay for someone else with my credit card without me coming down with my card to sign for it. Explained the situation, and that it was an hour away, and it was 10:00 p.m. on a Saturday night...had to go to the office to fax a copy of my DL, but they couldn't read it, etc. - 90 minutes to get them set up, during which, the tenant went back to the apartment they said was uninhabitable - had to call them to come stay in the room I set up for them.

Also, we had just remodeled a unit (different property) before new tenants. After 3 months, had to evict. They broke every single window, every door, pulled the kitchen cabinets off the wall, and left so much crap in the yard I had to pay someone $600 to haul it away. Their justification for this behavior was, I suspect, 'the landlord is an @$$hole - he actually expects us to PAY our rent!'.

 

[cosgig]

Oh, I could tell you stories about renters! I don't have any rental property, but worked for a company for 25 years that had lots!! I helped a lot of deadbeat tenants "move out"!! One particular tenant paid first and last and the security with a stolen check on a closed account, then dug in like a tick on a dogs back!! Never left the apartment unoccupied, but after pulling the meter, they slipped up and both left, which gave us the chance to help them move their stuff, which we did!! I don't know how all those kitchen food items got mixed up with their important papers and pictures, and I'm not quite sure how they all burst open and ruined all that stuff, I mean, all we were trying to do was help!! In the end, the deadbeats had no choice but to go on their way, but the guy did have the audacity to call and blame us for stealing his tools!! I guess a thief knows a thief when he sees one!!!

 

[SLOPAR72]

Ugghhh...more memories unearthed.

Had to get a tenant put up in a motel - motel wouldn't let me pay for someone else with my credit card without me coming down with my card to sign for it. Explained the situation, and that it was an hour away, and it was 10:00 p.m. on a Saturday night...had to go to the office to fax a copy of my DL, but they couldn't read it, etc. - 90 minutes to get them set up, during which, the tenant went back to the apartment they said was uninhabitable - had to call them to come stay in the room I set up for them.

Also, we had just remodeled a unit (different property) before new tenants. After 3 months, had to evict. They broke every single window, every door, pulled the kitchen cabinets off the wall, and left so much crap in the yard I had to pay someone $600 to haul it away. Their justification for this behavior was, I suspect, 'the landlord is an @$$hole - he actually expects us to PAY our rent!'.

What about the neighbors who had to put up with it? Any retribution on their part?

JW

 

[Louie70Dart]

Here in WI there is a website called WI Circuit Court Access. You can look up anyones name, and if you have a birthdate the better. Well, about 15 minutes ago I looked up these peoples name.......and someone else has filed a lawsuit against them. No particulars on the lawsuit as they only went to court the one day, at least that is what it looks like. Looked over the papers online just now. The woman has this house as the address, but dude has a different address.....and he stays here. Probably a mistake made by the court.

 

[pomonamissel]

yes i hear you , had a singe white female wreck a place in one year more than any others . one thing should put a smile to this . she flushed a burnt pork shoulder roast down the toilet , it was a american standard champion $250 for it .'' because it can flush 18 golf balls with one flush '', right is what she said to me . i told her '' ya but golf balls are small and follow them selfs through in line ''. the kitchen window is right next to the stove , her garbage can was one step from the window . the toilet was ten steps away . stupidity knows no color or nationality , or gender it seems . but good ones now , lol . until they more .

 

[Louie70Dart]

We need a laugh icon to click on with the like, thanks, agree/disagree ones..... Maybe next update? Well, was curious as I saw boxes packed upstairs with their bathroom stuff. Looked and all cabinets are empty, kitchen, and bathroom. The fridge is empty except for a little bit of milk left in the there. Going to buy me a grill and burn some steak! Burn being figuratively of course. LOL

 

[SGBARRACUDA]

Maybe in Va but here the tenant has all the rights. My 1st tenant didnt pay a water bill for almost a year. The water was in his name and the Township gave him 9 shut off notices then never shut it off. After I had him evicted he left no forward address so sudenly I find out he owes 800 dollars. The Township tells me they dont care and if I do not pay they will just add it to my taxes. I did receive a judgement for just over 4 grand with damages and all but he has not shown up nor worked in the last 5 years so it is just a piece of paper.

Florida it is the same. Tenants have everything on their side. One of the reasons I got out of the renting business.

 

[64DartGTinAZ]

What about the neighbors who had to put up with it? Any retribution on their part?
JW

Who had to put up with what?

 

[SLOPAR72]

Who had to put up with what?

Property devaluation because of Property owners who just want the money in their hand and could care less about how their less than favorable Tenants affect other peoples lives.....

Looking back on my own issue with a neighboring Rental Property I now fully understand what friends of mine have dealt with. Even a HOA with a Covenant outlining no rentals can be worked around by investors.......

The great thing for the Slumlords of the world is they end up with the Cashflow and can turn a blind eye to their properties while they go back to their happy place in life....

JW

 

[Louie70Dart]

Looks like today they will move the furniture out. I work until 4:30 so it will be interesting to see if the washer/dryer is here. I no longer have expectations with these scum. I want some kind of confirmation they are moved so I can change the locks. Then I will tell them they will have to make arrangements with me.

 

[64DartGTinAZ]

Property devaluation because of Property owners who just want the money in their hand and could care less about how their less than favorable Tenants affect other peoples lives.....

Looking back on my own issue with a neighboring Rental Property I now fully understand what friends of mine have dealt with. Even a HOA with a Covenant outlining no rentals can be worked around by investors.......

The great thing for the Slumlords of the world is they end up with the Cashflow and can turn a blind eye to their properties while they go back to their happy place in life....

JW

So, are you implying that because I had awful tenants who did $3500 in damage to a unit I had just finished upgrading, I'm a slumlord?
(and the neighbors were all rental properties, and I think they moved to a house one or two away from our property)

 

[SLOPAR72]

So, are you implying that because I had awful tenants who did $3500 in damage to a unit I had just finished upgrading, I'm a slumlord?
(and the neighbors were all rental properties, and I think they moved to a house one or two away from our property)

Please quote where I accused you of anything. Any questions I have asked are indirect. And speaking of your upgrades, isn't that a Tax writeoff since you lease property which is a business?

JW

 

[SGBARRACUDA]

There are slum lords and crappy tenants. But to say the repairs are tax deductible? That is only advantageous when your making so much money that you need to write off money. Most of us landlords past and present here don't fall into that category.

 

[SLOPAR72]

There are slum lords and crappy tenants. But to say the repairs are tax deductible? That is only advantageous when your making so much money that you need to write off money. Most of us landlords past and present here don't fall into that category.

That's on you and your decisions to base where the numbers lay. I have run a few entity's and without a doubt Tax Shelter, deductions, and depreciation were all extremely valid. Though my discipline is not in Real Estate I would see no reason it would not work in Property Investment. Most Property Investors I know are set up as a Business Entity and I can't even begin to see why they would not take advantage of the Tax Deductions.... Interesting....

JW

 

[chryslerfat]

There are slum lords and crappy tenants. But to say the repairs are tax deductible? That is only advantageous when your making so much money that you need to write off money. Most of us landlords past and present here don't fall into that category.

Exactly my thoughts. If I clear 3 grand in a year after taxes, insurance and payment and the tenant does over 4 grand in damages and court costs to evict it is a write off but I dont know many businesses that survive with a loss that big just for a write off.

 

[SLOPAR72]

Exactly my thoughts. If I clear 3 grand in a year after taxes, insurance and payment and the tenant does over 4 grand in damages and court costs to evict it is a write off but I dont know many businesses that survive with a loss that big just for a write off.

Wow....... So you took a hit from a tenant and it sucks.... But then you may have a tenant that is trouble free. It's offsets your loss and then on top of that you are able to use the property revitalization as a tax deduction. So tell me again how it doesn't all make sense from a tax standpoint? Educate me.... Seriously....

JW

 

[chryslerfat]

Wow....... So you took a hit from a tenant and it sucks.... But then you may have a tenant that is trouble free. It's offsets your loss and then on top of that you are able to use the property revitalization as a tax deduction. So tell me again how it doesn't all make sense from a tax standpoint? Educate me.... Seriously....

JW

Yup I am getting rich at 3 grand a year with no troubles and having rented it for 4 years and 2 tenants and 1 eviction total in damages from both 9 grand. Lets see not thats 12 grand minus 9 grand so the calls in the middle of the night was worth 3 grand in 4 years. Sure makes a person want to keep it and buy more just so I can get rich with that tax write off. LMAO

 

[seabee]

We're Military so move and rent a lot of places. We don't deal with property owner/landlords anymore. Ever. A professional property management company is the only way to go. And most good renters know that which is why there is a higher chance of getting the dregs when not using one for your property.

For example, we currently own a home that is in another State. We have rented it out for 9 years now with about 5 different families as renters. We hired a good property management company when we moved and never looked back. No lapses in occupancy, no money issues, no deadbeats, not a single problem. The only thing I see is the auto-deposit, prepared tax forms, and quarterly inspection photos. For 10% (tax deductible) it has paid for itself in time and money (and headaches).

Our friend bought some investment properties around the same time and refused to use a property management company to save a buck. She is constantly complaining about bad tenants, deadbeat renters, and a few years ago one of her properties got a meth lab tenant which condemned it (the place was in a brand new complex) for almost a year.

Anyway, if you are looking to rent out a place consider a reputable company to manage it for you. It's worth it.

 

[SLOPAR72]

Yup I am getting rich at 3 grand a year with no troubles and having rented it for 4 years and 2 tenants and 1 eviction total in damages from both 9 grand. Lets see not thats 12 grand minus 9 grand so the calls in the middle of the night was worth 3 grand in 4 years. Sure makes a person want to keep it and buy more just so I can get rich with that tax write off. LMAO

So then if this property you own is such a burden why haven't you sold it?

JW

 

[chryslerfat]

So then if this property you own is such a burden why haven't you sold it?

JW

It is for sale but because of flood plain plans having changed since I bought it in 1992 I cannot even get what I paid for it. The damn flood insurance on a 50 thousand dollar home is 2200 a year. Hard to sell when the new buyer will be forced to get flood insurance of almost 200 a month on top of the payment. What really sucks is it is the last house in the flood plain. The home right next to it is not. It was built in 1946 and never flooded near it but it is 7 homes off lake Erie.

 

[SLOPAR72]

It is for sale but because of flood plain plans having changed since I bought it in 1992 I cannot even get what I paid for it. The damn flood insurance on a 50 thousand dollar home is 2200 a year. Hard to sell when the new buyer will be forced to get flood insurance of almost 200 a month on top of the payment. What really sucks is it is the last house in the flood plain. The home right next to it is not. It was built in 1946 and never flooded near it but it is 7 homes off lake Erie.

That sucks man..... I would look at it like any other investment. See your history and if you won or lost or broke even. If you are in the Ballpark of breaking even and can invest the money in something more solid then consider your options. It sounds like overall the investment has not went as planned and at one point you have to figure out how to turn the Lemons into Lemonade....

Good luck,
JW

 

[SGBARRACUDA]

Wow....... So you took a hit from a tenant and it sucks.... But then you may have a tenant that is trouble free. It's offsets your loss and then on top of that you are able to use the property revitalization as a tax deduction. So tell me again how it doesn't all make sense from a tax standpoint? Educate me.... Seriously....

JW

Sounds like you need to get in the rental business,sounds like you have all the answers!

 

[Louie70Dart]

Ok, they are out for the most part. Just a few small items in the basement. Patio table along with washer/dryer still there, so far..... The people never took their shoes off, so the carpet upstairs is pretty bad. Worked yesterday and tried to clean it. Picked up a lot of dirt, the one stain is gone, but I will need to hit it again. Now to move my furniture in before work at 1:00 pm today.

 

[chryslerfat]

So did you like Detroit or couldnt wait to get back home?

 

[Louie70Dart]

Closest I actually got to Detroit was Warren, Roseville, Southfield. I did get to St. Clair Shores once. Also went to Huron. Never farther south than 11 mile road. Didn't have an urge to go. But yeah, I was unhappy. I lived north of Lake Orion on MI24/Lapeer Road. Not all that bad, actually pretty area. Job was beginning to suck, actually the people in my group sucked. Sucked when I was probably the most experienced person over all the products, but no one listened to me. I did what I was told even when I knew it was wrong. That is what the boss wanted me to do.....so I did it. When he got on me for that, I told him I know, but I'm tired of arguing with these maternal fornicators, while pointing my finger at his chest. LOL. So I quit the manager, not the company. Now working at less than half what I was making before, but no drive on I75, or Lapeer Road. No 18+ miles to a WalMart. Not to mention I have a yard, a deck, and a 2 1/2,(actually 3) car garage. and 1,500 square feet to live in. 6 mile commute to work, round trip. And I have Lake Michigan close by. Yeah, I'm relaxed and stress free! And I can get my car out of it's cocoon and work on it again. I have just about everything I need to get it going. It just wasn't home.