Comments on: Small Scale Landlords

By: td

td — Tue, 20 Dec 2011 03:23:16 +0000

I am experiencing something similar. They don’t like my boyfriend or me. I was suppose to be out of their home but I can stay but can’t have no overnight guests but I pay to rent a room like I’m some kid all of a sudden. Me & rules don’t get along but that’s the price I pay. Well I’m up and out of here asap. That’s the price they will pay imposing rules on a renter. I shouldn’t have to ask what can I can or can not do. First it wasn’t a problem. So what’s the diff

By: Heather

Heather — Fri, 05 Aug 2011 17:30:09 +0000

I was wondering what I should do. My boyfriend and I moved into a room someone was renting in her home. She is a single mom with a 15 year old son. I am a full time college student who has a part time job and my boyfriend is looking for a second job now, because the one he has has cut his hours so much that he is only making about 600 a month. I make about 450 and my job because they only give about 15 hours a week on average. Well here is the story. We moved in just over a month ago. July 1st. Paid our 400 dollars rent upfront. Later on in the month our landlady said she didn’t have money to pay for electricity and asked for some of Augusts rent early. We gave her 100 dollars that we had started setting aside for rent. then the remaining 300 dollars 3 days before rent was do. Well she sat us don’t last night and said she wants 500 dollars for Septembers rent which should be due Sept. 1st and she wants 100 of it by August 12th. We had an agreement for 300 dollars for our tiney 6 by 8 room and 100 dollars toward ultilities. now she wants us to pay half of all ultilites which is about 200 dollars plus 300 for the room after August. The agreement was for us to pay however much ultilities increased while we were there. They have increased by 88 dollars and we are paying her 100 which we are fine with, but now she insists it is not fair she pays more then us. Her and her son constantly leave lights on, TV’s crank the AC down. I don’t think it is right to have to pay for her doing all of that. Before anyone asks there is only a verbal contract… Huge mistake.. We already have the month of August rent paid, but we want to leave now. Can we even ask for a refund? Do any land lords have any advice for us? If we leave before finding somewhere else he will have to go back to California with family and I will have to stay in Arizona with my family.

By: sean

sean — Fri, 11 Feb 2011 09:54:44 +0000

I own a triplex in the rual area. I have 2 tennants that live there as well as my self. I charge one tennant rent + utilities and the other inclusive.
I live in the third appt. There is only one well one pressure tank three hot water tanks and three hydro meters. The one tennant has the filtration system and the pressure tank hooked up to his pannel box( this is the tennant that is paying rent+hydro) what are the legalities of this situation since he is Paying for the usage from everyone . Is this wrong and if it is how do i fix this problem

By: Year-End Financial Goals Results | Finance Blog

Year-End Financial Goals Results | Finance Blog — Wed, 06 Jan 2010 13:02:15 +0000

[...] end of the year Status: Fail – As I stated in my mid-year update, I’ve since decided being a small-time landlord probably isn’t for me.� Real estate investing can be a great way to build wealth, but it [...]

By: Dan McIntyre

Dan McIntyre — Sun, 03 Jan 2010 14:39:48 +0000

If there is not enough heat tenants need to withhold the rent!

By: Nathalie

Nathalie — Sat, 02 Jan 2010 21:58:07 +0000

Kinda sounds like you’re a slumlord to me if your tenants are all bums.. Tenants have rights. They can even get free representation and the law is on their side even if they are late if you kick them out. My tenants are not bums, we have a nurse, a paramedic, a secretary, you have to SCREEN your tenants so you don’t end up with the bad ones

By: werner retired

werner retired — Sat, 02 Jan 2010 19:06:11 +0000

For non payment on the due date , the tennant is in breach of an agreenment. And the landlord must have the right to kick him out ,without notice . Everthing else , like giving a 30 day notice, is garbadge. Kick him out, whatever it takes and then let him sue you, if he wants to absorb the cost of litigation. Most tennants are bumms ,and don’t you vorget it

By: Year-End Financial Goals Results - Amateur Asset Allocator

Year-End Financial Goals Results - Amateur Asset Allocator — Thu, 31 Dec 2009 20:25:14 +0000

By: Mr. Cheap

Mr. Cheap — Wed, 30 Sep 2009 17:43:11 +0000

Nathalie: Great info, thanks!

By: Nathalie

Nathalie — Wed, 30 Sep 2009 16:01:04 +0000

I wouldn’t install two more furnaces, I would put two of the units on baseboard electric heat which is WAY cheaper (you can get that for less then $500 per apartment) and gives the tenants only one (hydro) bill. You’d have to get a few estimates for splitting up hydro from a few electricians (ask if the estimate is free when setting up the appointment, and you can do this before you purchase), they would also know the cost of adding an extra meter.

As for doing this work while the tenants are in the apartments, you would have to get them to agree to pay for their own utilities, but you’d have to lower the rent to compensate, and it’s their own choice. It’s better to do this work between tenants. But it definitely is worth it from a cash flow perspective.

If you didn’t buy the triplex yet, try to make some of these changes part of your offer, (depending on how desperate someone is to sell, they might split the hydro up for you). Personally we made it a priority to purchase a property where there were separate hydro meters. The hydro company in our town only has the tenants name on the bill and if they default they go after the tenant, not me. I like that.

I also get the electric company to call me if the tenant is late, then you can fasttrack the eviction as the heat is electric and if there is a threat of no heat and pipes bursting, that could cause damage to your unit, then you can get them out in 7 days instead of 2 months if you have a nightmare tenant (and inherited tenants CAN be a nightmare).