Re: Show of hands, please.......... - Landlord Forum thread

Re: Show of hands, please.......... by Ultimate M-Bone on November 1, 2009 @14:05

Please, tell me you did not let them move in. If you did and they gave you a check, take it to their bank to cash it so you know right away if it's good or not. If you deposit a bad check into your account, it could be 2 weeks before you find out it was bad plus cost you a bad check fee from your bank.

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Re: Show of hands, please.......... by Nick (OH) on November 1, 2009 @15:50

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I told them they would need cash b4 they get the keys.

I also said I am handicapped and will not help them with their moving. That is not my job.

Thank you very much for your helpfulness and good advice.

Re: Show of hands, please.......... by Ultimate M-Bone on November 1, 2009 @16:06	[ Reply ]
Oh good, I feel relieved. Also, have in your rental agreement that they are to pay with cash, money order or a bank check, after 6 months they may pay by personal check until the first check is dishonored, after wards no other persoanl checks will be accepeted regardless of cause.

Re: Show of hands, please.......... by bayoupots (TX) on November 1, 2009 @17:41

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We have had our properties for about 5 yrs. now. My husband participated in a program called Lifestyles and they helped mentor him into the rental mkt. for investment purposes. We have 3 houses, a duplex and 2 multi-family complexes consisting of 11 units--older properties with a lot of upkeep. I have been a teacher for the last 20+ yrs. My husband works as an engineer full-time and he tried running it all himself, but it was too stressful. When I quit teaching, I thought--I can do this..since we have never had much luck with hired apt. managers--they tend to charge a lot and were paid based on how many occupancies they filled, but were not too discriminating.
I have been LL and prop. mgt (off-site, but in the next town)for about a yr. now. It has been a rocky road and without my husband's experience and the help of this forum, I think I would have had to learn an awful lot through trial and error and would probably have thrown in the towel by now. My husband's best advice to me has been: Don't believe anything a tenant tells you.
Don't get too close to the tenants, keep a professional distance. Try to find a good repair person that does not charge an arm and a leg, and is readily available or be available to do the work yourself. Most important: Don't take anything personally in this business.
This is a hard thing for a nurturing, neat-nik 1st grade teacher to get used to.
I have been burned enough though to never believe the following: "I don't have the rent now, but I will be getting a settlement, grant for school, etc. by such and such a date and then I will promise to pay you the late fee plus the rent for this month and even for next month." DON'T DO IT. They are just buying some time to live rent free until you have to force them out. They love to dangle that carrot on a stick for you. From the get-go, no special favors--and after you have had them for a few years and they never burn you--then you might consider a few special favors. I know I am in trouble when they say--oh--you seem like such a nice, understanding person...sorry, I have a mortgage and bills to pay too! Also--unless you have lots of experience as a LL, do not get involved in programs such as sec. 8, FEMA assistance. In my experience it has generally not been a win-win situation.The govt. assistance only looks out for the tenant.
I read this forum daily and it has been a great source of support and knowledge.
If I had chosen this as a vocation, I'd probably have shot myself by now but I have learned a lot and I consider myself a pretty good propery mgr. but hoping for the day we can sell and get out from under this responsibility. I hate to sound negative because I am generally a positive person.

If you have a thick skin, aren't a people pleaser and don't give up easily--then, this job may be for you!