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Old 08-11-2012, 06:12 PM
 
25,342 posts, read 37,480,980 times
Reputation: 13266

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Every day we are surprised how dumb some LL are and have no clue what they are doing.

We have a professional property management company as well as a brokerage and deny lots of LL who want to nickel and dime us and often do the same on the money that they use for repairs on their properties.

Often the LL come back to us after things go terrible wrong and that happened recently with one of the LL who had tried to hire 2 prior times but we declined to do it for a reduced fee since we know how much work multiple bad managed properties are.

Tis home owner actually feels sorry for all her tenants and the tenants are of course taken advantage but how can we say that the tenants are to blame if the LL is so out of touch and has no clue how much worse they are making the situation.

All of the tenants properties are section 8 and these tenants do whatever they want and the LL is accomodating everything by remodeling, etc. all to get a higher rent through section 8 but in the end she is not making a dime more due to all the dumb investments that in the end will not get them more money when they have to sell and all of the properties end in evictions or damages left due to no security deposits.

Lesson to new LL:
Always conduct a background check and don't go by looks and nice talk!

Always charge security deposits in full

Never allow vicious breeds on the property because your State law may be the same as Florida Law where owners can't be waived from liability and it can cost you your assets if something happens.

Don't put the utilities in your name but in the tenants name or have a set amount that will be paid by LL and everything above that amount is for the tenant to be paid and have an amount paid monthly towards utilities if they are incl.

We are stunned by the daily stories from LL who really have no clue and shouldn't be in the rental business.

If you can't afford home owners insurance than don't rent out your property....
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Old 08-12-2012, 12:53 PM
 
2,646 posts, read 5,972,052 times
Reputation: 4081
Question hmmm....

Quote:
Originally Posted by bentlebee View Post
Every day we are surprised how dumb some LL are and have no clue what they are doing.

We have a professional property management company as well as a brokerage and deny lots of LL who want to nickel and dime us and often do the same on the money that they use for repairs on their properties.

Often the LL come back to us after things go terrible wrong and that happened recently with one of the LL who had tried to hire 2 prior times but we declined to do it for a reduced fee since we know how much work multiple bad managed properties are.

Tis home owner actually feels sorry for all her tenants and the tenants are of course taken advantage but how can we say that the tenants are to blame if the LL is so out of touch and has no clue how much worse they are making the situation.

All of the tenants properties are section 8 and these tenants do whatever they want and the LL is accomodating everything by remodeling, etc. all to get a higher rent through section 8 but in the end she is not making a dime more due to all the dumb investments that in the end will not get them more money when they have to sell and all of the properties end in evictions or damages left due to no security deposits.

Lesson to new LL:
Always conduct a background check and don't go by looks and nice talk!

Always charge security deposits in full

Never allow vicious breeds on the property because your State law may be the same as Florida Law where owners can't be waived from liability and it can cost you your assets if something happens.

Don't put the utilities in your name but in the tenants name or have a set amount that will be paid by LL and everything above that amount is for the tenant to be paid and have an amount paid monthly towards utilities if they are incl.

We are stunned by the daily stories from LL who really have no clue and shouldn't be in the rental business.

If you can't afford home owners insurance than don't rent out your property....
Thank you for sharing?
K
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