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anyone here rent out houses? I need advice

I've been a landlord for over 15 years. I own no single family homes, only duplexes, tri's and quadriplexes. That way when someone moves in the middle of the night, you still have other tenants paying the freight. Best advice I can give is to never expect a tenant to treat it the way you do. Do your due diligence, get an application, call the references. No references or he was living with Mom, I won't rent to them. My first prospective tenant was a Tech student. I checked his references. His current landlord said "he really gave you my name and number"? It seems there were 4 students living in his unit. They hadn't paid rent, or utilities. So they had no water. They were crapping off the porch at night. Needless to say the dude did not get my apartment. He didn't think I'd check. It is not for the faint at heart, but I have VERY few problems and have a high occupancy rate. My rents are due on the first, late after the 5th. If I don't have rent I start to call. If no rent by the 10th, I start to evict. You pay the rent, you stay. You don't pay, you are gone. I don't care if mama had a nervous breakdown, Granny is pregnant for the 15th time, Junior is in rehab, if they want to live in my unit they pay the rent. These people who say it took 4 months to get them out were being stalled by manipulative tenants. There is a great book 'Landlording' by Leigh Robinson. BUY IT and READ IT before you do anything else.
 
From 2000-2007 I bought, fixed up, & rented or sold 64 small houses & 9 apt. complexes.
At one time I had 140 units (100 apts. & 40 houses) that I rented out.

Sold most of them before the crash.
Still have some commercial props. left & 4 rental houses.

For years I've heard all of the horror stories about residential rental problems.
I've found that, like most things in life, its what you make of it.

You have to set & enforce the rules.... preferably through a good well-written lease that has all of the responsibilities of each party laid out so that no one gets "amnesia".

If things go bad a written lease signed by ALL parties can save you lots of headaches as well as a great deal of money.
 
Ok this is how I do it, and I have eight House I rent out also I buy them and sell them. ok do the math if I buy a house for 50,000 divided by 60 months = $833.00 per month that what I charge for rent if the math or the rent is to high I dont buy it. So 34,000 + repairs = 45,000 divided by 60 0r 5 years=750.00 IF THE MATH DON"T WORK OUT DON'T BY IT!!!!!!!!! YOU CAN GO BROKE INSURANCE TAX AND REPAIRS RENTERS CAN DO A LOT OF DAMAGE IN A SHORT TIME.
 
I had an eviction notice served on a deadbeat tenant yesterday. I'll post up some pics when I can go in. He has seven days to respond. I know its gonna be bad inside.
 
Well it was bad:

Yard.
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Utility Building.
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Stove:
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Closet.
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Clothes in floor were covered with dog feces.
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Dirty diapers under crib.
Carpet soaked with dog urine.
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There was much more.
Power was turned off for non payment several weeks ago. Refridgerator had food in it.
Dogs were kept penned in the master bedroom and bath.
Should of taken a picture of the crackpipe I found.
 
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