Landlord Tales
Here is one of the reasons a person does not want to be a landlord. They don’t want the telephone to ring at 2 AM with a tenant telling them their toilet is overflowing.
My wife and I are members of a local real estate investors group, which has approximately 700 – 800 members. That question was brought up during a meeting several years ago. No one in the group had ever received a call like that in the "middle of the night". This is probably because they spell out everything in their lease.
We have, however, had the following things happen to us.
- We found our house empty and completely trashed and stripped by tenants. We thought we had the proper insurance, but we didn’t. A Horror Story.
- We had a tenant call us saying her toilet was backing up. And NO, it wasn’t in the middle of the night. The Clogged Toilet
- Home Owners Associations("HOAs")and Planned Unit Developments ("PUDs"): Both of these are as close to fiefdoms (the domain controlled by a feudal lord, or an organization that is controlled by a dominant person or group) as you can get. This is because they exercise absolute control. Read my dealings with them.
Perhaps you might want to contribute a story of your own. The bottom line is, the combination of some of our experiences might help pave the way for a future rental property owners to laugh at the problems they will encounter.
Landlord Tales to Rental Property
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