LANDLORD OF THE MONTH
Landlord Since 1995
Property Type: Residential Homes
I read everything I could find about buying real estate, but learning how to keep it is a different story. I am very happy to have found this web site. I think it is by far the most informative on the subject. Having now experienced a few tenant problems, I'm much more interested in finding ways of keeping my tenants on their toes. I want my rent paid!
Philosophy of the Working Landlord
I think people deserve a quality home to rent at a reasonable price. I have already put lots of sweat and blood into my properties so I don't appreciate it when someone treats the property disrespectfully. I just want decent people who care about their home and respect the landlord.
How I Do It
I'm doing my best day by day. The rents are basicaly covering my mortgages and it can get scarey when repairs are needed. Right now, I have the homes in fairly mint condition with good tenants except for one. I need to keep him paying, but I'm afraid I'm going to have to dive into an eviction. If I do, I'l take the advice I've seen so many times on this web site. I'll get a good landlord/tenant attorney rather than fumble through it myself and perhaps cost myself more time and money.
I now use the LPA Lease. Since I made the change of leases my life changed for the better. I only have one tenant on an old generic lease from a stationary store and that's the tenant I may evict.
Managing The Rentals...
I used to go to the properties personally to collect rent and see how things are, but now I have them mail the rent to a post office box I set up. I learned that from this site. I had my home phone number changed also so the tenants can NOT reach me whenever they want. They now must call a special number I use only for management and leave a message on my voicemail. This gives me the chance to review the message and decide how to handle situations before talking to the tenant. Before, they were able to wake me up and attack me making demands when I was most vulnerable.
Legal Tips and Words of Wisdom:
Don't get to chummy with your tenants. Read the 6 Biggest LAndlord Traps on the LPA Homepage. I loved it.
The LPA would like to thank Roberto for all his valuable input and sharing of knowledge with us. Landlords everywhere have the opportunity to benefit from the lessons and knowledge brought to us by our Landlords of the Month.