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There are at least a few landlords who do this. When I relocated to a new area and started looking for housing, one long-running ad offered rooms for rent to "hard to place" individuals - sex offenders and others to whom most landlords will not rent.
They charge higher rents than mainstream landlords, and might not care what the neighbors think.
My hairdresser lives in a very expensive beachside community. The home next door sold to someone who turned it into a halfway or sober house for drug addicts and alcoholics. She's very upset by it but nothing the neighbors can do. It can really ruin your nice neighborhoods, though.
I just refuse to rent to someone with a felony conviction, an eviction or poor credit. Plenty of others are willing to, but at least it's still my right for property I paid for without government help. I also don't have to take Section 8 and if they ever force us to...For Sale.
Go to YouTube and search Section 8. Makes me so mad.
many states will not even allow that , they have 1 or 2 month limits on how much can be asked for . it also does nothing for you if you have to evict them once the money is used up. it does not show they will be willing or able to pay you once they refuse to move at the end of the lease .
once i entrust you with my money invested in my property you have it regardless and all i have to depend on is your trust worthiness .
A limit on how much can be asked for by landlords does not limit how much an applicant or tenant can tender.
A limit on how much can be asked for by landlords does not limit how much an applicant or tenant can tender.
It's against my state's law to accept it. I'd never accept more, anyway, because it makes it too hard to get rid of a bad tenant. That's why I never do a lease and stick to MtM. I don't need a reason to ask them to move, either. If they've been there less than a year they get a 30 day notice to terminate the tenancy. If they're there more than a year they get 60 days notice. If they show signs of being a PITA I give them the happy clause. You're not happy here? Here's the form to notify me you're moving.
If they show signs of being a PITA I give them the happy clause. You're not happy here? Here's the form to notify me you're moving.
Thank you for amusing me!
I have a slow paying tenant who always complains about (justified) late fees, and I've been considering sending her a letter waiving the early move out penalty ($500) and obligations (pay rent until I find a suitable replacement tenant) just because she's such a PITA.
I salivate when I remember that her lease expiration is late this year. I'm wondering if it would be too un-cool to Fed-Ex her notice on Christmas Day that her (by then month-to-month) tenancy is being terminated on ... maybe February 28. (The property is my worst performer and I'm dumping it in 2018.)
I sure wish tenants would treat landlords as human beings. My biggest peeve is tenant pays late then is angry with me for demanding payment of late fees. I get no sympathy when I explain that my mortgage company won't let me off with no late fees.
Last edited by Lovehound; 01-05-2017 at 07:51 PM..
I have a slow paying tenant who always complains about (justified) late fees, and I've been considering sending her a letter waiving the early move out penalty ($500) and obligations (pay rent until I find a suitable replacement tenant) just because she's such a PITA.
I salivate when I remember that her lease expiration is late this year. I'm wondering if it would be too un-cool to Fed-Ex her notice on Christmas Day that her (by then month-to-month) tenancy is being terminated on ... maybe February 28. (The property is my worst performer and I'm dumping it in 2018.)
I sure wish tenants would treat landlords as human beings. My biggest peeve is tenant pays late then is angry with me for demanding payment of late fees. I get no sympathy when I explain that my mortgage company won't let me off with no late fees.
My pleasure. The only time I did that she backpedaled rather quickly enough to give herself whiplash. They've been there 14 years. I don't like the female half but they pay on time and don't annoy me after I let them know they're free to move anytime. I'm also a good, conscientious LL and take care of issues in a timely manner.
Not sure how your market is wherever you are, but in SoCal it's not bad. I tell them before I ever run credit checks that I don't tolerate late payers. I don't do late fees because rent is due on the 1st and late on the 2nd. I could give them the 3 day PoQ on the 2nd. The one time they paid on the second they called b/c their child had surgery. No biggie that time, but we definitely had that conversation before they got keys.
Personally, unless I really needed a tenant, I'd tell them to hit the road if they were habitual late payers. If you have a good tenant you don't need a lease. Leases leave you little options, IMO.
Do you read the forums and excuses of the day at the Landlord Protection Agency? One that had me shaking my head went something like this.
LL: Your rent is late
T: Sorry, but the cops took all the cash in the drug raid
Some of them are just awful. Tenants always seem to think landlords are rich. Even if true, no pay-no stay!
Thank you for the personal reply. Tenant seems to show improving pay on time but also appears may be result of seasonal available of OT pay. My market is good (not CA) but I rent via Realtors and every tenant change involves a new travel cost for move-in move-out inspection, Realtor commissions, utility fees while house is vacant, sometimes lost rent, and I just hate driving! (I can't afford to buy and rent properties in CA.)
I'm reluctant to issue POQ because it might involve travel which again I hate but you can't file in small claims court unless you are unrepresented, and I loathe to pay a lawyer to represent me in absentia or pay other legal fees on what is already a losing investment. My current plan is to just tolerate late payer until lease expires then simply sell the house after the tenant is on month-to-month. (It's nice that you can simply tell tenants "buh bye" once they are MTM as long as you give on-time notice. Tenant is currently on lease.)
I'm not enjoying my second vocation as landlord (in my retirement) and have realized my best plan is to bail out as quickly as my CPA lets me, considering tax consequences and maximization of gain or minimization of loss. In any case I can't sell this house until 2018 so I might as well put up with this PITA until the market is ripe to bid both tenant and house a fond farewell.
True, odd how they never ask. I just posted in another thread how in 15 years, I've only once had an applicant ask for proof that I had the right to rent out a unit.
I run into that when tenants seek to obtain renters insurance.
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