Biggest Challenges?
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Biggest Challenges? (by Ray-N-Pa [PA]) Aug 11, 2022 11:38 PM
       Biggest Challenges? (by Robert J [CA]) Aug 12, 2022 12:06 AM
       Biggest Challenges? (by GKARL [PA]) Aug 12, 2022 3:44 AM
       Biggest Challenges? (by Jim in O C [CA]) Aug 12, 2022 5:37 AM
       Biggest Challenges? (by MC [PA]) Aug 12, 2022 6:39 AM
       Biggest Challenges? (by Richard [MI]) Aug 12, 2022 6:52 AM
       Biggest Challenges? (by Ken [NY]) Aug 12, 2022 7:43 AM
       Biggest Challenges? (by RB [TN]) Aug 12, 2022 8:24 AM
       Biggest Challenges? (by S i d [MO]) Aug 12, 2022 9:20 AM
       Biggest Challenges? (by Roy [AL]) Aug 12, 2022 9:38 AM
       Biggest Challenges? (by WMH [NC]) Aug 12, 2022 10:24 AM
       Biggest Challenges? (by Oregon Woodsmoke [ID]) Aug 12, 2022 12:01 PM
       Biggest Challenges? (by BRAD 20,000 [IN]) Aug 12, 2022 12:41 PM
       Biggest Challenges? (by Hoosier [IN]) Aug 12, 2022 2:05 PM
       Biggest Challenges? (by Dave [MO]) Aug 12, 2022 2:10 PM
       Biggest Challenges? (by LisaFL [FL]) Aug 12, 2022 3:23 PM
       Biggest Challenges? (by renne [TX]) Aug 12, 2022 6:45 PM
       Biggest Challenges? (by melinda [MD]) Aug 12, 2022 7:30 PM
       Biggest Challenges? (by plenty [MO]) Aug 12, 2022 8:13 PM
       Biggest Challenges? (by 6x6 [TN]) Aug 12, 2022 8:19 PM
       Biggest Challenges? (by MikeA [TX]) Aug 12, 2022 10:37 PM
       Biggest Challenges? (by Pmh [TX]) Aug 13, 2022 1:10 PM
       Biggest Challenges? (by Elena [PA]) Aug 17, 2022 11:11 AM
       Biggest Challenges? (by Deanna [TX]) Aug 17, 2022 12:01 PM
       Biggest Challenges? (by Annie [IN]) Aug 18, 2022 12:01 PM
       Biggest Challenges? (by Mike [CA]) Aug 18, 2022 3:03 PM
       Biggest Challenges? (by Mike [CA]) Aug 18, 2022 3:03 PM
       Biggest Challenges? (by Laura [MD]) Aug 20, 2022 10:05 AM

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

Biggest Challenges? (by Ray-N-Pa [PA]) Posted on: Aug 11, 2022 11:38 PM
Message:

I would be interested in learning what the biggest challenges you are facing in the business?

For me it is finding dependable help - but I am able to piece meal things to make them work

--24.101.xxx.xxx




Biggest Challenges? (by Robert J [CA]) Posted on: Aug 12, 2022 12:06 AM
Message:

Having the Los Angeles City Counsel vote 11 to 1, tenants are NOT required to pay rent until August 2024, if they "claim" some type of pandemic excuse. NO longer is non-payment of rent a Tenancy Court issues, it now belongs in Small Claims Court for Collections. --47.156.xx.xx




Biggest Challenges? (by GKARL [PA]) Posted on: Aug 12, 2022 3:44 AM
Message:

Robert, I don't see how anyone could operate in California under those circumstances. That's crazy. --209.122.xx.xxx




Biggest Challenges? (by Jim in O C [CA]) Posted on: Aug 12, 2022 5:37 AM
Message:

Robert, what keeps you being a landlord in L A? Iím in Orange County and didnít lose a penny during Covid. --99.23.xxx.x




Biggest Challenges? (by MC [PA]) Posted on: Aug 12, 2022 6:39 AM
Message:

I would say, filling a vacancy. So many don't qualify but the thought is losing money with it vacant. I used to dread not taking people but a simple text will help and I don't even have to talk to them and listen to it. Had a guy call and curse about being turned down-it was a guest who had answered the phone-can only imagine how as a T it would have worked out. You know you may only get a month or two out of someone iffy. Upgrades and cleaning are tough also between tenants. --73.230.xxx.xx




Biggest Challenges? (by Richard [MI]) Posted on: Aug 12, 2022 6:52 AM
Message:

Finding decent tenants. Here the prices for buying places is not that high, so decent people just buy a place. That leaves the bulk of the rest as the ones who cause problems. Like many of you say, it's about 1 out of 50 or more worth even looking at. --24.180.xx.xx




Biggest Challenges? (by Ken [NY]) Posted on: Aug 12, 2022 7:43 AM
Message:

Finding decent houses to buy and help. I do think we have reached a peak and deals will become easier to find although i am still getting very limited calls.My older handyman is wore out so i need to find a replacement --74.77.xx.xx




Biggest Challenges? (by RB [TN]) Posted on: Aug 12, 2022 8:24 AM
Message:

Forgetting what I had for Breakfast, yesterday. --24.183.xxx.xxx




Biggest Challenges? (by S i d [MO]) Posted on: Aug 12, 2022 9:20 AM
Message:

Combination of finding affordable help and deals that make sense. My most recent plan to divide up a commercial building I have under contract into 4 units may get torpedoed due to the high cost of electrical components. $70,000 minimum bid so far and it could go as high as $90,000. I was budgeting $30,000.

Time to try to negotiate a price reduction with the Seller. --184.4.xx.xx




Biggest Challenges? (by Roy [AL]) Posted on: Aug 12, 2022 9:38 AM
Message:

My biggest challenge? Just trying to win an argument with Sid :) --71.207.xxx.x




Biggest Challenges? (by WMH [NC]) Posted on: Aug 12, 2022 10:24 AM
Message:

We aren't currently looking for deals at all. We have at least two ADUs that need finishing first - cheaper and easier and more profitable than a new deal. Good thing, because the deals don't exist right now. Not paying $200k for a trailer that needs a total rehab.

Biggest challenge, then, is finding workman. Even when we hire "real" companies, the time table is stretched so far out...and the independent guys are all aging out...recently, one guy lost a toe. Another got MRSA then had a stroke or something. One of our best simply retired: has 2 pensions and was smart with his money anyway. Bought a house cash, got him a dog and a motorcycle and he's done. --50.82.xxx.xxx




Biggest Challenges? (by Oregon Woodsmoke [ID]) Posted on: Aug 12, 2022 12:01 PM
Message:

Right now, the biggest challenge is the lack of workers. I can't get repairs done.

I dread having a vacancy in the current climate, although there are a lot fewer Covid deadbeats because the state of Idaho never had a rent moratorium, but I am close to Washington and they went overboard with Covid and I get their residents over in my state looking for housing. --76.178.xxx.xxx




Biggest Challenges? (by BRAD 20,000 [IN]) Posted on: Aug 12, 2022 12:41 PM
Message:

Labor. Even at $20 per hour.

local factories are paying $15.+

Property tax increases. With the recent high sales prices the assessments went up, a lot!

BRAD --73.103.xxx.xxx




Biggest Challenges? (by Hoosier [IN]) Posted on: Aug 12, 2022 2:05 PM
Message:

For me it's finding tenants that will care for the property. If I keep passing on the ones I take, I don't get any "better qualified" tenants. Most tenants just don't take care of the property and leave with a fair amount of damage. Fortunately I've been successful in collecting later via the court system. --99.92.xxx.xxx




Biggest Challenges? (by Dave [MO]) Posted on: Aug 12, 2022 2:10 PM
Message:

Labor and material are my biggest challenge at this moment.

I'm in a house and having to touch every room. It's like a can of worms. --173.47.xxx.xxx




Biggest Challenges? (by LisaFL [FL]) Posted on: Aug 12, 2022 3:23 PM
Message:

Ray-N-PA

Finding qualified AC companies. I fortunately have good long term relationships with most all trades so I have folks I can typically rely on. However getting things repaired promptly is getting more and more difficult. I dread some of my older folks retiring so I will agree that finding and keeping quality help is the biggest challenge.

I donít do new tenants anymore. I keep the old, or replace them with former known tenants or sell when someone moves. --75.89.xxx.xxx




Biggest Challenges? (by renne [TX]) Posted on: Aug 12, 2022 6:45 PM
Message:

Labor.

Forget getting 3 bids on anything. We pay whatever people want if they will just show up! We supply Gatorade, water, snacks and pay on the spot.

The young man who mows and weedeats for us gets $20/hour and we have to go pick him up and he uses our equipment! Before you gasp, this is much less expensive than hiring a landscaping crew. We paid $2,100 to have two trees felled and left on the ground.

We've been waiting since April to get 6 post holes dug in a backyard to start a fence. After 3 months we've finally found someone who will install a doggy door. We contacted a contractor back in February to replace the windows in a home and we are on the list for October. We paid 1/2 down for a well installation and we are looking at a 1 year waiting list.

That is the reason We are moving away from renting homes and moving to owning mobile home parks where the Residents own their own home and they can be responsible for finding their own people to install a doggy door. --12.196.xxx.xxx




Biggest Challenges? (by melinda [MD]) Posted on: Aug 12, 2022 7:30 PM
Message:

Tolerating a lack luster Housing Administration with the remaining Sec. 8 residents that I have. Just not worth the aggravation --24.245.xx.xxx




Biggest Challenges? (by plenty [MO]) Posted on: Aug 12, 2022 8:13 PM
Message:

Plumbing. Most all our calls are plumbing of some sort. --172.56.xx.xxx




Biggest Challenges? (by 6x6 [TN]) Posted on: Aug 12, 2022 8:19 PM
Message:

My biggest problem seems to be putting all of the pieces of the puzzle together and making good decisions.

Besides that, labor and materials, mainly windows seem to be scarce. I really don't understand that.

If you hire a company, get ready to go bankrupt.

Does slow and steady win the race?

--73.113.xxx.xxx




Biggest Challenges? (by MikeA [TX]) Posted on: Aug 12, 2022 10:37 PM
Message:

I can find labor for smaller projects, timing is tough for deals, but honestly I think my comfort is my biggest challenge. After doing this for 30+ years I have gotten comfortable with my way of doing things. Its hard to implement new systems when you lack enthusiasm. --166.216.xxx.xxx




Biggest Challenges? (by Pmh [TX]) Posted on: Aug 13, 2022 1:10 PM
Message:

persuading my wife to let me buy another house. she says wait. prices too high. she is right. as she always is as she always reminds me. --166.205.xxx.xx




Biggest Challenges? (by Elena [PA]) Posted on: Aug 17, 2022 11:11 AM
Message:

My biggest challenge is the broke city of Philadelphia. Has to pay its lazy officials and an army of unemployed residents. Will dip into landlord's pockets any chance it gets. Trash fee that used to be $50 per duplex and now $300. License fees $56 per unit. Imagined trash on the street (literally waiting for the trash truck to go through the backroad and spill the trash. The inspector comes out of the woodwork and tickets the homeowner on the same day). LeadSafe Certification requirement. $400 at least per unit every 4 years. LeadFree certification is available - technically - but the requirements are so stiff that no one can pass and the remediation costs thousands.

I am thinking of pulling out of the city. I wanted to provide clean safe affordable housing for the residents but as long as the LL is seen as both the city's purse and the greatest enemy I refuse to play this game. --108.52.xxx.x




Biggest Challenges? (by Deanna [TX]) Posted on: Aug 17, 2022 12:01 PM
Message:

Having stable tenants who don't allow their difficulties to affect me. Their instabilities are understandable-- much of it is self-inflicted-- some of it is beyond their control--- but it accumulates and affects my ability to plan and do things and make sure my own guys get paid on time. --137.118.xx.xxx




Biggest Challenges? (by Annie [IN]) Posted on: Aug 18, 2022 12:01 PM
Message:

Phone is not ringing off the hook right now (figuratively speaking -- we don't do phone calls -- they have to e-mail us). I think most people that would be good tenants are staying "put" for the time being in this economic climate.

Finding qualified tenants has been the biggest challenge over the last two years. Many apply, but they don't meet our criteria of stable employment, rental history, credit history, or qualifying on income.

Just had one that boyfriend/girlfriend want to move in together. She has 2 kids, he is recently divorced with one kid. They wanted to rent a 1 BR apartment.

Neither one had satisfactory rental (her last landlord said she was a sloppy housekeeper, and the wear an tear on the apartment was excessive in a 1 year time span), or job history (change jobs every six months or less!). She works part time -- he made decent money, but then again, changing jobs all the time.

--23.108.xx.xxx




Biggest Challenges? (by Mike [CA]) Posted on: Aug 18, 2022 3:03 PM
Message:

keeping up with the constant changes to the LL tenant law. cities have theirs, the county and the state as well. also being tormented by tradesmen of average skills wanting surgeons wages. I hold my nose and pay them now but will grind them small when the economy weakens.

--72.130.xx.xxx




Biggest Challenges? (by Mike [CA]) Posted on: Aug 18, 2022 3:03 PM
Message:

keeping up with the constant changes to the LL tenant law. cities have theirs, the county and the state as well. also being tormented by tradesmen of average skills wanting surgeons wages. I hold my nose and pay them now but will grind them small when the economy weakens.

--72.130.xx.xxx




Biggest Challenges? (by Laura [MD]) Posted on: Aug 20, 2022 10:05 AM
Message:

Labor... --108.56.xxx.xx



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


Reply:
Subject: RE: Biggest Challenges?
Your Name:
Your State:

Message:
Biggest Challenges?
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 Mrlandlord.com 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: