4 ms·

Even if it's at the cost of someone else who does not wish to single-handedly carry this burden? I have seen first hand the damage someone can cause to a home.

by tudelo 9y ago

Even if it's at the cost of someone else who does not wish to single-handedly carry this burden? I have seen first hand the damage someone can cause to a home. I really think that when they are not paying for it they have even less of an emotional stake in the livability of the home post inhabitance.

jcadam 9y ago
Yep, I was an accidental landlord due to the housing bubble bursting in 2008 (had to move for a job, couldn't sell the house without taking a huge loss). Hired a property manager, found a tenant, and did my best to be a good landlord. Let the tenant pay a couple of weeks late a few times without getting bent out of shape, fixed things promptly, etc. Then the time finally came to sell last year. The market had recovered, I could sell the house and actually make a profit. My reward for doing "the right thing" (not defaulting/short-selling/etc.) was ready to be reaped. Tenants moved out... got our first look at the house. It was a complete nightmare. Turns out they raised rabbits (as in, to sell) in the property and trashed the place (poop everywhere, stained walls, and egads.. the smell). Ended up taking a large loss on the property anyway - had to basically dump it in order to find a buyer and just be rid of the thing. The tenants lost their security deposit. That's it. I lost tens of thousands on the sale price (and this was a sub-$200k home), not to mention the years of maintenance, etc. I spent (well, my useless PM charged me) while they were in the house. Yea, should have just sent the bank the keys in the mail and walked away. In the end it would have been less painful.
- photojosh 9y ago
  Our property manager (standing in for the owner) inspected our rental every 3 months for the first year, then every 6 months after that. If we'd've trashed the place, they can start the eviction process straight away. Do you not have the right to inspections?
  - jcadam 9y ago
    Yes, but I was out of state and unable to manage the property directly, hence why I hired a PM. The PM ostensibly conducted regular inspections :/
  - BrandoElFollito 9y ago
    In France : no.

by tudelo 9y ago

jcadam 9y ago

Yep, I was an accidental landlord due to the housing bubble bursting in 2008 (had to move for a job, couldn't sell the house without taking a huge loss). Hired a property manager, found a tenant, and did my best to be a good landlord. Let the tenant pay a couple of weeks late a few times without getting bent out of shape, fixed things promptly, etc. Then the time finally came to sell last year. The market had recovered, I could sell the house and actually make a profit. My reward for doing "the right thing" (not defaulting/short-selling/etc.) was ready to be reaped. Tenants moved out... got our first look at the house. It was a complete nightmare. Turns out they raised rabbits (as in, to sell) in the property and trashed the place (poop everywhere, stained walls, and egads.. the smell). Ended up taking a large loss on the property anyway - had to basically dump it in order to find a buyer and just be rid of the thing. The tenants lost their security deposit. That's it. I lost tens of thousands on the sale price (and this was a sub-$200k home), not to mention the years of maintenance, etc. I spent (well, my useless PM charged me) while they were in the house. Yea, should have just sent the bank the keys in the mail and walked away. In the end it would have been less painful.

photojosh 9y ago
Our property manager (standing in for the owner) inspected our rental every 3 months for the first year, then every 6 months after that. If we'd've trashed the place, they can start the eviction process straight away. Do you not have the right to inspections?
- jcadam 9y ago
  Yes, but I was out of state and unable to manage the property directly, hence why I hired a PM. The PM ostensibly conducted regular inspections :/
- BrandoElFollito 9y ago
  In France : no.