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My leases state that tenant is responsible for repairs if they put nail or screw holes in walls, and expressly suggests using "no damange" picture hangers available in home improvement stores.
I would be curious if that line item would actually hold up in court if it went that far. The judge is going to look at reasonableness of the contract, you don't just get to write down what ever you want and it holds up. Even if your contract was thoroughly vetted by a lawyer its going to be up to the judge and if you sound like a petty bratty owner who just wants checks rolling in while doing nothing he wont likely rule in your favor.
Yea you can't just "walk away" from a lease halfway through. If you can prove the home is barely habitable, the tenant can seek legal counsel and break the lease. It's a very ugly, drawn out, stressful process, when all you want is to live in a fully functional, completely habitable home for which you pay rent for.
If a landlord pushed me to that point I would keep a log of all the time I had to deal with it and bill out at 70-80/hr. I would keep a log and that would be the last time a land lord did that to someone.
Why would you rent a barely habitable home? You get to see it before you rent it. If it's barely habitable then walk away. Duh.
Its usually due to a severe lack of affordable housing in many many areas of the nation due to a severe lack of govt intervention. Decent properties in decent areas where there are actually decent jobs cost an absolute fortune, usually many orders of magnitude greater than most peoples average pay.
People simply are not fed up enough with it to get meaningful legislation and zoning laws passed.
Well all I can say to the lot of all you landlord haters is that I would gladly sell my business to you, and I'm getting out of the business just as quickly as my Realtor and CPA can get me gone.
I'm one of the decent landlords who treats his tenants well and about 1 in 6 of them abuse me, destroy my houses, pay their rent late, refuse to pay late fees, refuse to accept legal notices.
You don't know what you are talking about until you have experienced tenant abuse from a landlord's perspective. Maybe all landlords are not as well meaning as me. On this Earth I am responsible for only my own actions, and I treat all people fairly and honestly.
I wish I could say the same about how tenants have treated me.
Well all I can say to the lot of all you landlord haters is that I would gladly sell my business to you, and I'm getting out of the business just as quickly as my Realtor and CPA can get me gone.
I'm one of the decent landlords who treats his tenants well and about 1 in 6 of them abuse me, destroy my houses, pay their rent late, refuse to pay late fees, refuse to accept legal notices.
You don't know what you are talking about until you have experienced tenant abuse from a landlord's perspective. Maybe all landlords are not as well meaning as me. On this Earth I am responsible for only my own actions, and I treat all people fairly and honestly.
I wish I could say the same about how tenants have treated me.
Problem is we are back in a full blown real estate bubble again and I don't think real estate holders are going to let the properties go for what they are actually worth (ie what most people are actually willing to pay, especially after the noose gets tighter on lending standards).
its going to take a glut of forclosures and short sales before I jump on, I wont take a bath by over paying for the real estate because you can never recover from over paying.
I bought my house for so cheap that the tax assesors had to schedule an appointment ... I got my modification.
This takes sellers coming to terms with reality and historicly the only way that happens is with short sales and forclosures. It will take the govt not bailing out lenders this time around, when the lenders have to take a bath you will see the pool of eligible buyers shrink to almost nothing and those people that are responsible enough to be cash buyers wont pay your inflated prices.
Once prices are down to reality then real land lords can get down to business set realistic rates because they are not drowning in an inflated mortgage and can actually afford to have cash on hand to fix things. As long as real estate purchase prices remain inflated these problems will get worse until the majority have had enough and start unseating representitives at all levels.
Well all I can say to the lot of all you landlord haters is that I would gladly sell my business to you, and I'm getting out of the business just as quickly as my Realtor and CPA can get me gone.
I'm one of the decent landlords who treats his tenants well and about 1 in 6 of them abuse me, destroy my houses, pay their rent late, refuse to pay late fees, refuse to accept legal notices.
You don't know what you are talking about until you have experienced tenant abuse from a landlord's perspective. Maybe all landlords are not as well meaning as me. On this Earth I am responsible for only my own actions, and I treat all people fairly and honestly.
I wish I could say the same about how tenants have treated me.
Putting tiny nail holes in the walls is not "destroying" the property. You are not required to hire a contractor, you just go in with nail hole filler and that's it.
The other point of view is that it's quite possible we may be entering a long term rise in interest rates and home prices. I hope we can all agree that NOBODY knows where interest rates are going to be a few years from now.
Myself, I'm selling my investment/rental houses as soon as I can empty them of tenants (i.e. leases expire and tenant notified to leave). I'll take whatever the market price is at the time the houses are listed and ultimately sold.
I'm getting out of the damned house rental business because bad tenant tricks are driving me crazy. I finally realized my sanity and happiness is worth more to me than mere money.
A couple years from now all my houses except my primary residence will be sold and that will probably be the last time I'm seen on this forum. Maybe I can rent out my username, LOL!
Putting tiny nail holes in the walls is not "destroying" the property. You are not required to hire a contractor, you just go in with nail hole filler and that's it.
My nail hole filler comes attached to my handyman. I'm out of state. I'm not going to drive that far just to do handyman work. Whatever it costs me to pay the handyman, that's what gets deducted from my tenant's deposit.
Yea you can't just "walk away" from a lease halfway through. If you can prove the home is barely habitable, the tenant can seek legal counsel and break the lease. It's a very ugly, drawn out, stressful process, when all you want is to live in a fully functional, completely habitable home for which you pay rent for.
Um, if you rented a home that's not habitable, then that's on you. If halfway through it becomes inhabitable, that's on you too.
The other point of view is that it's quite possible we may be entering a long term rise in interest rates and home prices. I hope we can all agree that NOBODY knows where interest rates are going to be a few years from now.
Myself, I'm selling my investment/rental houses as soon as I can empty them of tenants (i.e. leases expire and tenant notified to leave). I'll take whatever the market price is at the time the houses are listed and ultimately sold.
I'm getting out of the damned house rental business because bad tenant tricks are driving me crazy. I finally realized my sanity and happiness is worth more to me than mere money.
A couple years from now all my houses except my primary residence will be sold and that will probably be the last time I'm seen on this forum. Maybe I can rent out my username, LOL!
When interest rates rise home prices fall because people qualify for less and less. Also as wages stagnate and fall compared to inflation that will push housing prices down.
But the real leverage will be if the govt refuses to bail out banks and banks then have to take on the full liability of their bad loans. This has already been resulting in very strict lending standards.
It took us tons of paper work, low debt to income and high over all incomes AND liquid assets to even get a loan. It is very likely there were people that wanted to bid up the price of the home we put an offer in on but they did not actually have good jobs and money. That's the way it should be, only people with good jobs and actual money saved should be putting in offers, I put in a VERY low offer and held firm and they eventually took it.
We wanted to get out of renting because our land lord was a pos. I don't care if someone is out of state its their job to fix issues and im not paying for a failed boiler or any of the associated issues surrounding an incident.
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