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Are You A Landlord

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buckeyebri

buckeyebri

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    • Anyone else out there a landlord? I am, not by choice, but by circumstances. Having moved back to the Midwest due to jobs from NC, I was unable to sell our house. The first year we had great renters, that paid right into our bank account and early. They had another kid, so decided to move to a bigger house.

    We found new renters, who wanted to rent the house for 4 years. Everything looked good and away we went. Well, so far they have not paid their rent on time in the first two months of living there. In fact, I am getting the rent dumped into my account in pieces. I don't have a problem necessarily with this if they would just get it all in on time. They have been blaming the bank so far, but I think they are just bad money managers. They seemingly have money to go on vacations and other things, and it is like their rent is their last worry.

    So far, I have not fined them. Next month, however, if the rent is not in by the past due date, I will have to fine them. Does anyone know if you can comment on a person's credit rating relative to this type of issue?
     
    One concern I have is that if you continue to allow this, you may be putting yourself in a difficult position if you want to remove them later--if, for instance, they stop paying you altogether.

    Our lawyers would know better than I, but I seem to recall there used to be some catch in landlord/tenant law here that if a landlord established a precedent by allowing late payment of rent, that they could not then use late payment as grounds for eviction.

    Do you have anyone there (former neighbors, friends) who can keep an eye on the property? I'm wondering if they are irresponsible about payment, what else they might be careless about.
     
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    buckeyebri;2084977; said:
    Anyone else out there a landlord? I am, not by choice, but by circumstances. Having moved back to the Midwest due to jobs from NC, I was unable to sell our house. The first year we had great renters, that paid right into our bank account and early. They had another kid, so decided to move to a bigger house.

    We found new renters, who wanted to rent the house for 4 years. Everything looked good and away we went. Well, so far they have not paid their rent on time in the first two months of living there. In fact, I am getting the rent dumped into my account in pieces. I don't have a problem necessarily with this if they would just get it all in on time. They have been blaming the bank so far, but I think they are just bad money managers. They seemingly have money to go on vacations and other things, and it is like their rent is their last worry.

    So far, I have not fined them. Next month, however, if the rent is not in by the past due date, I will have to fine them. Does anyone know if you can comment on a person's credit rating relative to this type of issue?
    Click to expand...

    I had great luck renting to military personnel. They tend to be neat, won't disappear on you, and if they do you can find them. If they are late you just complain to their CO, and they will have a conversation with them explaining why keeping their contractual obligations with local civilians is important. The one time I disregarded that rule I got a renter who did not pay, who had a drug problem, and who had a kid right at Christmas, which kept me evicting her for two months because I'm a sap.
     
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    localyokel;2085314; said:
    One concern I have is that if you continue to allow this, you may be putting yourself in a difficult position if you want to remove them later--if, for instance, they stop paying you altogether.

    Our lawyers would know better than I, but I seem to recall there used to be some catch in landlord/tenant law here that if a landlord established a precedent by allowing late payment of rent, that they could not then use late payment as grounds for eviction.

    Do you have anyone there (former neighbors, friends) who can keep an eye on the property? I'm wondering if they are irresponsible about payment, what else they might be careless about.
    Click to expand...
    Good point. However, landlord tenet laws vary so widely from state to state that I won't guess how late acceptance would be treated, but local is right that you might ratify a deviation from your contract by your behavior. You need to be sure you don't F up whatever the state law says.
     
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    OSUsushichic;2085432; said:
    My boyfriend owns a house and rents out 3 rooms. All of his roommates are currently unemployed. Needless to say, he gets rent money very sparingly!
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    He needs to get his bitches to work.
     
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    Gatorubet;2085321; said:
    I had great luck renting to military personnel. They tend to be neat, won't disappear on you, and if they do you can find them. If they are late you just complain to their CO, and they will have a conversation with them explaining why keeping their contractual obligations with local civilians is important. The one time I disregarded that rule I got a renter who did not pay, who had a drug problem, and who had a kid right at Christmas, which kept me evicting her for two months because I'm a sap.
    Click to expand...

    My first renters were military and they were the best. The rent was early and the place was immaculate when we took back possession.
     
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    Yes, I am as well.

    Few things -

    1 - Never rent anything you love. Never ever, ever. The renters WILL ruin it. Only a matter of time.

    2 - Possession if often said to be 9/10ths of the law. That is totally false - its 99.9999999999% of the law. Getting money owed to you paid by force is often so difficult its not worth it. Its so hard that I sometimes wonder why people would ever pay a one time bill in arrears. Moral of the story - the DAY they are late, they need a call. If you dont have payment in two days, you enforce late charges to the fullest extent of the law. If that doesnt work, you need to put them out as early as the law will allow you.

    The only positive I see here is that they are actually paying something. If it were nothing, then Id say you'd never see a dime. The "bank" excuse is always 100% bull. Think about how many times you've been late w a payment because of the "bank."

    If it were my property, Id have the procedure in #2 above in full swing by now. No exceptions.
     
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    Wouldn't the rules regarding late charges, time frames for enforcing them, etc., have to have been spelled out originally in their lease? If they're on month-to-month, you could possibly give notice that you were requiring a new lease and change the terms, but I'm not sure you can start charging them out of nowhere.

    PS..very true about not renting anything you want to keep. My parents rented their house out once when we went to another city, and I still have mental pictures of us walking thru it later, looking at the trash & destruction.
     
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