Not in the mood
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Not in the mood (by bet [MA]) Jun 19, 2024 8:03 AM
       Not in the mood (by RB [TN]) Jun 19, 2024 8:20 AM
       Not in the mood (by Roy [AL]) Jun 19, 2024 9:04 AM
       Not in the mood (by zero [IN]) Jun 19, 2024 9:25 AM
       Not in the mood (by MC [PA]) Jun 19, 2024 9:26 AM
       Not in the mood (by WMH [NC]) Jun 19, 2024 10:18 AM
       Not in the mood (by WMH [NC]) Jun 19, 2024 10:36 AM
       Not in the mood (by Roy [AL]) Jun 19, 2024 10:53 AM
       Not in the mood (by Busy [WI]) Jun 19, 2024 11:28 AM
       Not in the mood (by MikeA [TX]) Jun 19, 2024 11:36 AM
       Not in the mood (by NE [PA]) Jun 19, 2024 12:19 PM
       Not in the mood (by NE [PA]) Jun 19, 2024 12:20 PM
       Not in the mood (by bet [MA]) Jun 19, 2024 1:01 PM
       Not in the mood (by 6x6 [TN]) Jun 19, 2024 4:18 PM
       Not in the mood (by Ray-N-Pa [PA]) Jun 19, 2024 9:24 PM
       Not in the mood (by zero [IN]) Jun 20, 2024 8:32 AM
       Not in the mood (by NE [PA]) Jun 20, 2024 9:00 AM
       Not in the mood (by S i d [MO]) Jun 20, 2024 10:24 AM
       Not in the mood (by NE [PA]) Jun 20, 2024 10:26 AM
       Not in the mood (by S i d [MO]) Jun 20, 2024 1:17 PM
       Not in the mood (by Just Tim [AR]) Jun 20, 2024 2:39 PM
       Not in the mood (by RentsDue [MA]) Jun 20, 2024 3:34 PM
       Not in the mood (by zero [IN]) Jun 21, 2024 8:49 AM
       Not in the mood (by Jason [VA]) Jun 21, 2024 10:31 AM
       Not in the mood (by zero [IN]) Jun 21, 2024 1:13 PM

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Not in the mood (by bet [MA]) Posted on: Jun 19, 2024 8:03 AM
Message:

Rant; I have been at this game for 25 yrs. Most of my tenants stay a long time, I increase rents every year but not high enough to keep up with the ever changing market. I go to market rates at turn over but most of my tenants are just below market, probably why they dont move, not worth the hassle. But every year I get those that just get a tad bit comfortable and start complaining about stupid stuff. I went to inspect their apt, there is pet damage. They were served a 30 day notice same day. I don't ever tell them in advance. That's the constable job. Now they can go and find a market rent apt, if they can get it. At this point, I am not in the mood. I need to get my market rents. --68.66.xxx.x




Not in the mood (by RB [TN]) Posted on: Jun 19, 2024 8:20 AM
Message:

Tenant Lifestyle Issues -

Pet / Animal damage, how can that be ?

Some here claim Zero damage at their places and they are

raking in the cash, for years.

Ya must have missed the conference and / or memo. --69.130.xxx.xxx




Not in the mood (by Roy [AL]) Posted on: Jun 19, 2024 9:04 AM
Message:

Bet,

I hear ya bud. I raise rents too but not up with market rents. Most of mine are long term also. And right after a rent increase is when the stupid stuff complaints start rolling in.

After 19 years in this business, I am beginning to feel a sense of burnout. I am losing the patience I use to have. --71.207.xxx.xx




Not in the mood (by zero [IN]) Posted on: Jun 19, 2024 9:25 AM
Message:

Most of my tenants realize I am under market. They also know I take care of issues as fast and best as I can.

Was in an apartment yesterday to work on a fridge. I know the tenant smokes, has a cat and has her grown daughter and nearly grown son living there. It's a 2/1. They have been there since 2018.

Since I have been working hard at cleaning up my places, doing bigger rehabs than normal this one caught me off guard a little. Smells bad. From pets, smoke and just people funk. My guess is that when her kids both finally leave she will as well. I am already preparing for the full rehab that will be coming up.

Seems that I have fixed some of the mistakes that I made in the past, but with people that stay a long time I am reminded of the things I let go back then.

I won't kick her out and I know I can't wallet train her. So instead I will keep adjusting the rents and preparing for what will come. The apartment next door will be the same, except no pets and he smokes in one closed room. But he has been with us since 2005 and is leaving next year.

Now my newer tenants are on a shorter leash for sure. The things I have learned and implemented in the past few years has allowed me to choose better and to keep them in line from the start. --107.147.xx.xx




Not in the mood (by MC [PA]) Posted on: Jun 19, 2024 9:26 AM
Message:

I have found that MOST long term Ts start thinking they own it. Yes, it is thier place but yet it is not. They tend to get too comfortable. I am with bet. Some days, you just hit your limit. You want to keep you long termers to avoid turnovers but there is a downside. All my long termers got too comfortable. The hardest one moved on thier own, the rest we reached that point and gave notice. Yes, they start to nit pick when the increase hits. --73.230.xxx.xx




Not in the mood (by WMH [NC]) Posted on: Jun 19, 2024 10:18 AM
Message:

Maybe having two people involved truly makes a difference: Good Cop (DH) visits the units, brings homemade bread, fixes legit repairs, etc. Bad Cop (me) raises rents, sends leases, sends notices of any issues, etc. I don't even know what most of them look like - I meet them at first viewings but after that, all online. I have to look at their DLs online to remember their faces, if then.

I think it makes a difference in their behavior overall. They know DH isn't going to make the decision about whether they get to stay or go, stories of woe to him don't help, etc. (He of course DOES work with me to make those decisions, but they think it's all me.) --173.28.xx.xxx




Not in the mood (by WMH [NC]) Posted on: Jun 19, 2024 10:36 AM
Message:

We have a unit where the tenant has been there almost 15 years. I would have let her go long ago - I don't like long-term tenants myself - but DH liked her and felt sorry for her. Health issues.

But she is also a cat lady who has been reprimanded several times about feeding feral cats, about having too many cats herself, etc. I was in her place last month and there is cat damage to the woodwork. Never saw that before, I've never had a cat that clawed woodwork myself and I've had lots o' cats. I would charge her for it but I know DH is going to say 15 years, let it go. We'll see who wins that one.

RB likes to claim that I say we never have pet damage, but we do sometimes. --173.28.xx.xxx




Not in the mood (by Roy [AL]) Posted on: Jun 19, 2024 10:53 AM
Message:

WMH,

Several years ago I evicted a female tenant who had multiple feral cats and this tenant had stopped cleaning the liter box. I went in after the Writ was issued and the urine stench was unbearable. I hope this situation does not happen to you. I still allow dogs but no cats under any circumstances. --71.207.xxx.xx




Not in the mood (by Busy [WI]) Posted on: Jun 19, 2024 11:28 AM
Message:

Bet, in my market, you would be keeping up with the ever increasing market. That is because, by saving on turnovers, you are ahead of the game. I look at the comps, but also look in price history. Places that are getting top dollar are being listed for rent every year or two. Now, if one has a big crew, and a lawyer on standby, fine, chase the tippy-top dollar. And, one would need to, because work crews and lawyers donít come cheaply.

By keeping the unit filled for longer, there isnít a turnover time, where paint brushes were gotten out, and rent was not collected. Sure,sure, some things can be done whilst departing tenant is still there, before new tenant moves in, but eventually a floor needs redoing, or the kitchen finally needs to be tackled.

But, it also can wear on us . And, we change too. I was remarking to a tenant the other day that someday, Iíll be one if those landlords that just does the minimum to keep my places going. But, for now, Iím still fixing fast, doing it right, making things better. And taking the time to explain, train, teach. Someday I wonít have energy or patience for that.

Hope some cooler weather is coming your way. You should be getting the heat that just passed us. I spent last two days playing backyard water games with grandkids. The two year old thinks there is nothing more fun than spilling a bucket of water on Grandmaís head! --172.59.xx.xxx




Not in the mood (by MikeA [TX]) Posted on: Jun 19, 2024 11:36 AM
Message:

When I was a teenager I remember hanging out with my dad as he was trying to buy a couple of apartment buildings from a group of grumpy old men. I remember thinking that I would sure hate to rent from them because of their short-tempered, crotchety nature.

50 years later I've become them! Some of the byproducts of gaining experience they don't tell you about. --209.205.xxx.xx




Not in the mood (by NE [PA]) Posted on: Jun 19, 2024 12:19 PM
Message:

I agree MikeA. Iíve become bitter. I used to be go-go-go. Now I think, for what? I just go when the opportunity presents itself. I used to have some hope for us as a whole. Now I have a little hope for an individual, maybe. But for the general public as a whole, I have no hope. Alot of itís from landlording. --174.249.xx.xxx




Not in the mood (by NE [PA]) Posted on: Jun 19, 2024 12:20 PM
Message:

What landlording didnít ruin for me, the mass idiocy of Covid did. Hahaha. I have become bitter to our species. --174.249.xx.xxx




Not in the mood (by bet [MA]) Posted on: Jun 19, 2024 1:01 PM
Message:

I remember the mood of a landlord that we purchased from 20 yrs ago. He was all non emotional, calm and cool and didn't talk much. We are him now. I don't tell a tenant that I am not renewing their lease, when they are not expecting it. It's far easier just to have the constable serve them, and for legal strategy because, if this is a surprise and they are not prepared, we set up for the next legal notice. I am not in favor of long term tenants, unless you are facing a total gut job. 9 yr old tenant apt needs to be gutted now.Semi long term tenants become territorial and possibly disrespectful to me and property. The biggest change is I have a crew that I send in to rehab. Costly, but keeps the property in ready to sell condition. --68.66.xxx.x




Not in the mood (by 6x6 [TN]) Posted on: Jun 19, 2024 4:18 PM
Message:

"I am losing the patience I use to have"

Patience? What's that? --76.129.xxx.xx




Not in the mood (by Ray-N-Pa [PA]) Posted on: Jun 19, 2024 9:24 PM
Message:

Mike & NE

Is it true that Grump old Men was actually a landlord movie? --24.101.xxx.xxx




Not in the mood (by zero [IN]) Posted on: Jun 20, 2024 8:32 AM
Message:

Tenant in an apartment is making me feel the bad mood. They will not use the exhaust fan for the bath and the room is showing it. I am trying to complete the rehab I am on and then decide if I will non-renew them.

Got a text that the AC is not cold and making noise. Had a guy go over there. He said it is making some noise but not enough to stop conversations. Also they were running it at lowest settings in eco mode. The place couldn't get cooled down.

I am leaving it in there. He showed them how to use it. I don't even plan on following up as he took care of it.

One more bump from them and I will pull off the rehab when I boot them. These people have been in maybe 5 months. --107.147.xx.xx




Not in the mood (by NE [PA]) Posted on: Jun 20, 2024 9:00 AM
Message:

Zero, donít give them a choice on that bathroom fan. Wire it together with the light switch. --174.249.xx.xxx




Not in the mood (by S i d [MO]) Posted on: Jun 20, 2024 10:24 AM
Message:

I see many common complaints in this thread:

1) Tenant damage

2) Pets

3) Covid shenanigans

I think you can solve ALL of those by switching to commercial property of the types I've been highlights recently. What you want is big metal boxes with concrete floors. Think automotive shops, storage, etc.

1) Big metal boxes with concrete floors are harder to damage. The commercial lease also makes the tenant responsible for all repairs, so there's no "My toilet is clogged"... hey, call the plumber, that's on you!

2) Pets. Who cares if they have a pet/critter in a big metal box with a concrete floor?

3) Covid. There were no moratoriums for commercial property. No pay = no stay. The way it should be.

Added benefits include you don't have to worry about ADA and FHA: that's all for HOUSING, not for BUSINESS, at least from a landlord's perspective.

Commercial leases give ultimate flexibility too. Make the terms whatever you want. There are so many fewer mandatory obligations for commercial. It's whatever works for you and your tenant. I have one property that doesn't even have hot water. It's not needed for this tenant, so why provide it? Nothing says squat about "commercial habitability". It is what it is.

Might be time to do some 1031 exchanges.

--184.4.xx.xx




Not in the mood (by NE [PA]) Posted on: Jun 20, 2024 10:26 AM
Message:

Sid, I just ordered the book Warehouse Veteran. Should be here soon. Any others youíd recommend? --24.152.xxx.xx




Not in the mood (by S i d [MO]) Posted on: Jun 20, 2024 1:17 PM
Message:

NE,

Not really. Commercial real estate isn't THAT much different from residential in the theory of how it works and how you make money from it, other than the freedom it gives you to negotiate deals.

Instead of "how to" books, I spent time reading commercial leases. You'll want to understand things like CAM (Common Area Maintenance), Lessee's work, Landlord's word, repair deductibles, etc. You'll possibly be dealing with those in larger properties.

Smaller properties can be rented very similar to Residential units using what's called a "Gross Lease", which is landlord responsible for all repairs and maintenance, a "Modified Gross Lease" which means tenant is responsible for A, B, C, and landlord is responsible for X, Y, Z... whatever you work out between you, or a NN or NNN (double or triplet net) where the tenant covers everything, including repairs, property tax and insurance..

A local Commercial Property Broker should have a copy of a lease. Maybe they'd let you have a copy if they anticipate you as a future client. In my area, there are about 5 guys who do the vast bulk of commercial deals. Find one of those kinds of agents in your area: they are a wealth of knowledge and know what's going down with whom. It's worth your time to get to know them.

If you're going into warehousing, that's a different ball of wax. While I own places that COULD be used as warehouses, I am not specifically renting them AS warehouses. There are different laws in my state that govern those, and I'm not an expert in them since I'm not swimming in that pool yet.

Then there's self-storage... a whole 'nuther ball of wax. Back when I owed a facility I could basically says, "I'm providing you a space to put stuff in, but I'm not responsible if it gets stolen, destroyed, eaten by rats, etc". The tenant was responsible for buying their own insurance, providing their own storage tubs to keep stuff dry and pest free, etc. I could also overlock their units the day rent was late if I wanted, and there was no such thing as eviction court. I just sent the required letters, published the required legal notice, and 21 days later I had a sale to clear out the unit and get paid. E Z Cheesy! The only reason I sold my facility is I got an offer too good to refuse... I know this because I refused it 3 times, and on the 4th offer I realized it would take me 12 years to make the same cash profit they were offering to me that day. No brainer.

I'd buy another one in a heartbeat. They really are that simple to manage. Just run your numbers to be sure you have the right pricing for your units, because your units are nothing special compared to the guy down the street. Whoever has the best pricing and available unit size wins. Smaller units are harder to rent, but they get you the most $ per square feet. You can also sell ancillaries like locks, boxes, etc. I had a website that collected all payments automatically, did e-leasing, and showed my inventory to prospects. It was really simple to use and inexpensive. Once payment was confirmed, I just texted the new tenant the unit number and the code I had on the lock if they bought the lock from me.

I didn't do cameras or fences. No room for either since my lot was small. No one seemed to care much. Cameras don't really give you anything to prosecute a thief with anyway, unless said person is just REALLY stupid and uses a truck with a license plate or something identifiable. Most camera footage is too grainy and low res, and even then.... you don't know who the person is other than "probably a male about 5 foot 8 inches." *shrugs Fences are expensive and gates break. I just left the place open. Had only 2 issues with break ins over 23 months I owed it, and neither person had bothered to buy their own insurance. Too bad, so sad. Our lease says "We do not provide video or fence security. You need to buy your own insurance."

Repairs were cheap and easy. Turnovers took a couple of minutes to use a leaf blower to clear out the dust and cobwebs. If tenants left trash, I had a fairly good size dumpster on site. Most folks just threw stuff in there. I did end up with a few overflows, but nothing serious.

Good luck!

--184.4.xx.xx




Not in the mood (by Just Tim [AR]) Posted on: Jun 20, 2024 2:39 PM
Message:

Am I the only one who thought this thread was not going to be real estate related at all? --107.77.xxx.xx




Not in the mood (by RentsDue [MA]) Posted on: Jun 20, 2024 3:34 PM
Message:

Whenever they complain about the very small rent raise, I send them the comps that show they are paying below market rent. I let them know that I will be happy to give them a good reference and remind them to give me the proper notice of when they will be leaving. --68.191.xx.xx




Not in the mood (by zero [IN]) Posted on: Jun 21, 2024 8:49 AM
Message:

NE, regarding the light and fan together I have done that on some places. It helps while they are taking a shower, but as soon as they step out of the room the fan is off with the light.

I just got two DewStop moisture sensing switches. Plan to place one in my kids apartment so I can test it out and tweak it a little. Then I will start putting them in all the bathrooms.

That is if they work as well as I have been told.

Time will tell I guess. --107.147.xx.xx




Not in the mood (by Jason [VA]) Posted on: Jun 21, 2024 10:31 AM
Message:

In my last reno i installed a bath fan with an onboard humidistat, but wired that humidistat so it would always be energized. I also wired the fan so that it would come on automatically with the light, so now when they take a shower, the fan will come on with the light and stay running until the humidity drops, regardless if the light is on or not. --174.193.xx.xx




Not in the mood (by zero [IN]) Posted on: Jun 21, 2024 1:13 PM
Message:

If I was pulling the walls I would look at the sensor being on the fan. I think that would make the most sense, but I do not want to rip out walls for it.

Will see how the sensor at the switch fares. I have heard more good than bad on them. --107.147.xx.xx



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