I hate being a landlord

[Robb]

Long story short, Mrs. Robb and I couldn't sell my house when we got married, and couldn't live in it for work reasons. So we found a tenant, and live elsewhere.

Every month there's some reason the rent is late. And every month we have to hold off getting things like haircuts or groceries while we wait for the rent to come in.

I'm not naturally confrontational, so I hate calling and asking where the rent is. I hate worrying this might be the month it doesn't come. I've been a renter before, and I was always good about rent.

I think there's this perception that if you own "extra" property, you must be rich. Sometimes that's just not the case. :(

[curse of greyface]

1. Hiring a leasing company to "manage" your property is money well spent.

They take the hassle out of landlording and our much better at evictions and screening.

[Lars39]

2. I hope you're still trying to sell it.

If we're late with the rent, we have to pay 10% in late charges.

[Robb]

3. Same with my lease

So far she's been within 24 hours of "late" (the 5th of the month), so I've let it slide, because I kind of like her. Single mom, daughter, etc. etc. etc.

I'm a freakin' softie.

[Lars39]

4. Down hill slide...:^)

[Fenneltwigtea]

5. Seen the situation before.

Well, at certain times everyone falls on hard times, with the economy being the way that it is, some people are losing hope. Do you have any form of friendship with the tenant? Maybe them having someone to talk to once in a while could cheer them up, and who knows, maybe that might get them a bit more motivated to take care of their responsibilities a bit more promptly :)

[Maraya1969]

6. Oh boy could I tell you stories! Right now I just rent out1/2 my house

and I've had some doosies in there. But my mother owns a 10 unit complex in NJ, (it doesn't mean you are rich but yes other people think you are), and I lived there and managed it for 10 years.

I got a broken nose, my car windshields were smashed, my tires slashed and I was arrested for spraying pepper spray in 3 tenents faces after I finally went crazy which I think that is exactly what they wanted me to do (one of the people was the one who broke my nose) and after a series of bad luck, (including that their uncle was chief of police in the town) I was charged with 3 counts of aggrevated assault and 2 weapons charges. I took a plea bargain because I had moved finally, (to Florida) and could barely handle going up for the 3 times I was "ordered" to be there.

Oh and the woman who broke my nose. I filed charges against her and she was never indicted and the municipal court threw it out basically.

[Shell Beau]

7. I hope you attach late fees.

Being a landlord is a hard job. Especially when you didn't set out to be one. :hug:

[mopinko]

8. raise the rent, if you can. otherwise, threaten to raise it when you can.

say- look, i don't want to lose a tenant and have to lease this thing again, but i cannot continue to let you slide. if you are planning to stay after the term of the current lease, your new rent will depend, in part, on how timely you are now. sorry, but you are costing me money and time, and i can't afford it.