OT: Sometimes it sucks to be a landlord

[oxfordrick]

No good deed goes unpunished.

Anyone who rents property quickly learns that no good deed goes unpunished.

Collecting back rent is very hard – no incentive for anyone without superb credit to pay – just collect as much as you can, hand deliver the 3 Day Notice to Pay Rent or Quit for the balance, if they don’t pay timely initiate Unlawful Detainer, that should get their attention.

Once in a blue moon money will be paid, failing thta proceed to eviction and find new paying customers.

Good luck!

[peterb]

In good times it can suck to be a LL. I would not want to be one in this economic climate unless I was able to charge below market rent and still cash flow.

[peterb]

In good times it can suck to be a LL. I would not want to be one in this economic climate unless I was able to charge below market rent and still cash flow.

[peterb]

In good times it can suck to be a LL. I would not want to be one in this economic climate unless I was able to charge below market rent and still cash flow.

[peterb]

In good times it can suck to be a LL. I would not want to be one in this economic climate unless I was able to charge below market rent and still cash flow.

[peterb]

In good times it can suck to be a LL. I would not want to be one in this economic climate unless I was able to charge below market rent and still cash flow.

[(former)FormerSanDiegan]

[quote=FormerSanDiegan]I generally give breaks to my tenants, while protecting my downside. My advice would depend on
certain factors.

How many months are left on the lease ? (or is it month-to-month) ?

What would be the current market rent for the unit ?
How long would it be vacant at that rate ?

[/quote]

For example, if the tenant is having problems paying (this has happened to me once over the past 8 years) I let them out of their lease and made sure they were never behind more than 1/2 months rent. That way, I could withhold back rent from their deposit and have some cushion for damage.
Once a tenant gets a month behind, they rarely catch up, and your ability to obtain water from the turnip is limited to whatever deposit amount you have.

[(former)FormerSanDiegan]

[quote=FormerSanDiegan]I generally give breaks to my tenants, while protecting my downside. My advice would depend on
certain factors.

How many months are left on the lease ? (or is it month-to-month) ?

What would be the current market rent for the unit ?
How long would it be vacant at that rate ?

[/quote]

For example, if the tenant is having problems paying (this has happened to me once over the past 8 years) I let them out of their lease and made sure they were never behind more than 1/2 months rent. That way, I could withhold back rent from their deposit and have some cushion for damage.
Once a tenant gets a month behind, they rarely catch up, and your ability to obtain water from the turnip is limited to whatever deposit amount you have.

[(former)FormerSanDiegan]

[quote=FormerSanDiegan]I generally give breaks to my tenants, while protecting my downside. My advice would depend on
certain factors.

How many months are left on the lease ? (or is it month-to-month) ?

What would be the current market rent for the unit ?
How long would it be vacant at that rate ?

[/quote]

For example, if the tenant is having problems paying (this has happened to me once over the past 8 years) I let them out of their lease and made sure they were never behind more than 1/2 months rent. That way, I could withhold back rent from their deposit and have some cushion for damage.
Once a tenant gets a month behind, they rarely catch up, and your ability to obtain water from the turnip is limited to whatever deposit amount you have.

[(former)FormerSanDiegan]

[quote=FormerSanDiegan]I generally give breaks to my tenants, while protecting my downside. My advice would depend on
certain factors.

How many months are left on the lease ? (or is it month-to-month) ?

What would be the current market rent for the unit ?
How long would it be vacant at that rate ?

[/quote]

For example, if the tenant is having problems paying (this has happened to me once over the past 8 years) I let them out of their lease and made sure they were never behind more than 1/2 months rent. That way, I could withhold back rent from their deposit and have some cushion for damage.
Once a tenant gets a month behind, they rarely catch up, and your ability to obtain water from the turnip is limited to whatever deposit amount you have.

[(former)FormerSanDiegan]

[quote=FormerSanDiegan]I generally give breaks to my tenants, while protecting my downside. My advice would depend on
certain factors.

How many months are left on the lease ? (or is it month-to-month) ?

What would be the current market rent for the unit ?
How long would it be vacant at that rate ?

[/quote]

For example, if the tenant is having problems paying (this has happened to me once over the past 8 years) I let them out of their lease and made sure they were never behind more than 1/2 months rent. That way, I could withhold back rent from their deposit and have some cushion for damage.
Once a tenant gets a month behind, they rarely catch up, and your ability to obtain water from the turnip is limited to whatever deposit amount you have.

[PadreBrian]

[quote=oxfordrick]No good deed goes unpunished.

Anyone who rents property quickly learns that no good deed goes unpunished.

Collecting back rent is very hard – no incentive for anyone without superb credit to pay – just collect as much as you can, hand deliver the 3 Day Notice to Pay Rent or Quit for the balance, if they don’t pay timely initiate Unlawful Detainer, that should get their attention.

Once in a blue moon money will be paid, failing thta proceed to eviction and find new paying customers.

Good luck!

[/quote]
^^^^^^^^^^^^^^^^^^^

[PadreBrian]

[quote=oxfordrick]No good deed goes unpunished.

Anyone who rents property quickly learns that no good deed goes unpunished.

Collecting back rent is very hard – no incentive for anyone without superb credit to pay – just collect as much as you can, hand deliver the 3 Day Notice to Pay Rent or Quit for the balance, if they don’t pay timely initiate Unlawful Detainer, that should get their attention.

Once in a blue moon money will be paid, failing thta proceed to eviction and find new paying customers.

Good luck!

[/quote]
^^^^^^^^^^^^^^^^^^^

[PadreBrian]

[quote=oxfordrick]No good deed goes unpunished.

Anyone who rents property quickly learns that no good deed goes unpunished.

Collecting back rent is very hard – no incentive for anyone without superb credit to pay – just collect as much as you can, hand deliver the 3 Day Notice to Pay Rent or Quit for the balance, if they don’t pay timely initiate Unlawful Detainer, that should get their attention.

Once in a blue moon money will be paid, failing thta proceed to eviction and find new paying customers.

Good luck!

[/quote]
^^^^^^^^^^^^^^^^^^^

[PadreBrian]

[quote=oxfordrick]No good deed goes unpunished.

Anyone who rents property quickly learns that no good deed goes unpunished.

Collecting back rent is very hard – no incentive for anyone without superb credit to pay – just collect as much as you can, hand deliver the 3 Day Notice to Pay Rent or Quit for the balance, if they don’t pay timely initiate Unlawful Detainer, that should get their attention.

Once in a blue moon money will be paid, failing thta proceed to eviction and find new paying customers.

Good luck!

[/quote]
^^^^^^^^^^^^^^^^^^^

[Author]

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