Previously an Owner
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
Previously an Owner (by Ray-N-Pa [PA]) May 12, 2022 2:47 PM
       Previously an Owner (by Bonanza [NC]) May 12, 2022 3:11 PM
       Previously an Owner (by Sisco [MO]) May 12, 2022 3:12 PM
       Previously an Owner (by Robert J [CA]) May 12, 2022 4:05 PM
       Previously an Owner (by Jim in O C [CA]) May 12, 2022 4:09 PM
       Previously an Owner (by Allym [NJ]) May 12, 2022 4:24 PM
       Previously an Owner (by Dee Ann [WI]) May 12, 2022 5:46 PM
       Previously an Owner (by MikeA [TX]) May 12, 2022 6:01 PM
       Previously an Owner (by Rick [IN]) May 12, 2022 6:54 PM
       Previously an Owner (by plenty [MO]) May 12, 2022 7:47 PM
       Previously an Owner (by Ray-N-Pa [PA]) May 12, 2022 9:36 PM
       Previously an Owner (by Robert,OntarioCanada [ON]) May 13, 2022 2:30 AM
       Previously an Owner (by tryan [MA]) May 13, 2022 2:50 PM
       Previously an Owner (by Robert,OntarioCanada [ON]) May 13, 2022 3:38 PM
       Previously an Owner (by Vee [OH]) May 13, 2022 7:30 PM
       Previously an Owner (by DJ [VA]) May 14, 2022 4:17 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Previously an Owner (by Ray-N-Pa [PA]) Posted on: May 12, 2022 2:47 PM

I had a showing last night from someone relocating up from Texas. Both applicant and GF were previously owners so I thought these folks would be strong candidates......and they are

But, I don't think they will be a good fit with me. You see the BF complained that in the shed in the back yard that there were wall nut shells showing that squirrels go inside the shed. He wasn't amused when I said there were no extra fees for the wildlife in the back yard.

As for the GF, she didn't like the monthly rent set at $1,195. She was looking if I had anything for half of that. I let her know there has been $26,000 in upgrades to this place and I would let her know if I had any trailers available in the future. I take it I didn't make a lot of friends but they are looking for something at $600 around here, you are not getting that much.

What are your horror stories that come from folks that were owners and then become renters?

Previously an Owner (by Bonanza [NC]) Posted on: May 12, 2022 3:11 PM

The previous tenant had patched and painted the holes in the wall. I thought they did a decent job of it. The lady who came to see the place asked if I was going to repaint the walls. I said no. She said that for the rent $1385 and the security deposit she thought it should be repainted.

I was thinking to my self well the security deposit has nothing to do with anything at all and I am not paying the $2000 to repaint all the walls so your OCD can be happy. Me thinks you might be too picky and should go pester some other landlord.

Previously an Owner (by Sisco [MO]) Posted on: May 12, 2022 3:12 PM

The landlord is in charge, the tenant is not.

For long time homeowners, this is a big adjustment. Based on their level of dissatisfaction with your house and the price, I would pass.

Previously an Owner (by Robert J [CA]) Posted on: May 12, 2022 4:05 PM

I rented one of my nicer homes in a great school district so the renters didn't have to send their kids to private school, thus making the rent seem almost free. It was $2,500 per month, or $30,000 per year.

Private school cost between $10,000 to $15,000 per child per year. So their two kids would have cost them $25,000 for private school, like they paid in their old location -- a bad part of town with the worst schools with gangs.

These tenants said this was a temporary situation, they were going to buy a house soon. The wife's father is selling his home and then going to move in with them. In time they will find a good home nearby and start making offers.

So the father moved in and became a baby sitter when the kids walked home from school One child being 10 and the other child being 14.

Since the dad had netted over $350,000 from the sale of his home, those fund would account for a 60% down payment. With a working Husband and Wife and excellent income/credit -- they should be able to buy a home within a year or two.

The only problem is that the market keeps on going up each year. And today at prices close to $900,000, their mortgage and insurance would exceed $5,500 per month. It is cheaper to be a renter and pay $2,500 per month and bank the rest towards a home purchase.

My last conversation, they were interested in buying the rental. So I asked the three (husband, wife and father) home much they had saved towards the purchase. They each handed me a paper showing their funds each had saved, not letting the others know. The dad that had $350,000 from the sell of his house had around the same amount saved. The wife had over $200K and the husband had around $500K. So they could afford to buy the my house for cash, but they liked paying a cheaper rent and having so much money in the bank.

Previously an Owner (by Jim in O C [CA]) Posted on: May 12, 2022 4:09 PM

When this happens I shut the application process down. I usually say "I don't think you will be happy here" and stop all communication about the property. Even if the applicants want to back track the damage is done.

Previously an Owner (by Allym [NJ]) Posted on: May 12, 2022 4:24 PM

I wonder what he wants to put in the shed? Squirrels will nest in things. Pass. --108.24.xx.xx

Previously an Owner (by Dee Ann [WI]) Posted on: May 12, 2022 5:46 PM

I have only had one previous homeowner in 40+ years of being a landlady. He was also a previous landlord; oh lordy, I thought! He was separated and antiipated he'd only be there for 6 months. Six months today would be a no go for me, but this was early on in my career, a recently purchased rental for us and I needed a renter in there. My lease was strict enough, as I explained to my prospect, I only do annual leases, but that if I found someone to take his place when he decided to leave he would be let out of his lease.

Came time that he was ready to leave, and still had time on his lease. I was confident I could find a replacement. He was much older, and perhaps he wasn't as confident being I was somewhat in his eyes a "newer" landlady. So he would give me a generous incentive, ony if I was able to rerent his remaining months. I was able to rerent to the day. He moved out on a Sunday and the next person moved in the next day on a Monday. He left the place spotless and I didn't have to do a thing but take the extra money and run!

Sorry, not a bad, previous home owner story. --75.11.xx.xx

Previously an Owner (by MikeA [TX]) Posted on: May 12, 2022 6:01 PM

I once rented to an acquaintance from a construction company that had sold their house and was building a place, it was for a year. I was certainly glad when the year was over. They were used to an A+ house in an A+ neighborhood and rented a B- townhome in a C+ neighborhood. They drove me crazy with every little thing, a cracked tile in the hall, a front porch light that was crooked, the one that really got me was a huge windstorm, wind gusts over 80 MPH. I had several houses with half the roofs ripped off, fences down, and a few windows broken. The guy had two posts that broke off at the ground but the fence was still standing. He worked as a project manager in construction so he knew the issues with getting help in the middle of a disaster but he continued to pester me daily until I was able to get it fixed. I won't take people who are used to an A+ house for a lower grade unit again.

Previously an Owner (by Rick [IN]) Posted on: May 12, 2022 6:54 PM

Not a horror story for me, but ...

I bought a 3/1 in a lower, middle class neighborhood for $10K and rented at $500 the next day. The house was his, but he really, really needed $10K. The renter was a guy who married a (brief) ex-girlfriend of mine. He was in debt due due to her.

Replaced the roof, but unfortunately the ceiling got wet and he had that cable ceiling heat. Replaced that with baseboards.

He complained about the electric bill, I said yes that is high, but your ex-house, as you know, is all electric. So, he moved out and it is now rented for $650.

He is now selling me a small, 3/1 house in the same type of neighborhood for $6K because his wife -- did I tell you it was a brief, a real brief, girlfriend -- has now got him into bankruptcy. This house is due to be rented for $650 next month.

Thankfully, they cannot reproduce and they don't vote!

Previously an Owner (by plenty [MO]) Posted on: May 12, 2022 7:47 PM

Yeap. Talked to a few of these folks. My guess is they never find a place to suite they every need but find one in that price range and then continue to be miserable as always. Self fulfilling prophecy. I win. --172.56.xx.xx

Previously an Owner (by Ray-N-Pa [PA]) Posted on: May 12, 2022 9:36 PM

I can understand to certain point that someone wants something for cheap....and if the highest mortgage payment you have made was on a sale of place that you bought 28 years earlier for $40,000 - yes todays rents are going to real expensive.

Maybe they can also reflect on the cost of that Plymouth Reliant K Car they bought back in 1982 from the legend himself Lee I. Cars run a little bit more than $6,000 too.

Previously an Owner (by Robert,OntarioCanada [ON]) Posted on: May 13, 2022 2:30 AM

In order to keep a rental unit or house within reasonable condition there has to be the funds to do that. A slum rent is going to be good for a slum only. If anyone had previously owned a house then replacing a roof, furnace, structural repairs, windows all have a life expectancy where that has to come somewhere. Capital expenditures that amount is amortized into the rent. Here a house will rent for $2,000 plus or more. There absolutely nothing you can rent for $600 per month at all. To try to bring rent level then continue to look.

Previously an Owner (by tryan [MA]) Posted on: May 13, 2022 2:50 PM

Had a young couple look at a SF ... they came with Mom (a home owner she would tell me). Well, Mom picked the place apart requesting all kinds of upgrades. So I stopped her in mid-sentence and asked if she would be living with the young couple ... "no". "Are you co-signing for your daughter" I asked...."no". "Please wait outside so I can show this couple the house."

No ap and no lost on my end.

Previously an Owner (by Robert,OntarioCanada [ON]) Posted on: May 13, 2022 3:38 PM

Mom wants to get rid of them where ask why. More then likely they have previous evictions and unpaid utilities. This is business not a charity. Suppose mom bought a house then they expect free utilities and rent.

Previously an Owner (by Vee [OH]) Posted on: May 13, 2022 7:30 PM

Sniff the coffee, Next Batter - you thought they strong candidates till they proved that they are not.

Previously an Owner (by DJ [VA]) Posted on: May 14, 2022 4:17 PM

Gee, the 2 different homeowners I rented to were Great!

One was a navy family with a rental in another state. Bought a house after retiring here.

The other couple were new to the area. Self-employed contractor/landlord with lots of money in the bank. Needed 6 months to find/buy/fix their new home. Came here to be near & help older family & re-established his business here.

Click Here to send this discussion to a friend
Report discussion to Webmaster

Subject: RE: Previously an Owner
Your Name:
Your State:

Previously an Owner
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: