Shame on the Landlord. I was a landlord from the time I was 26 and finally had enough at 60.
It is a business. But you work with your tenants, it is a relationship. Landlords need tenants. If they say, "I don't have the rent." It's a different matter if they say they have all but $20 and the rest will be paid on Friday, than if they say they don't have any of it.
In the latter case, eviction starts the next day.
I was able to get a tenant out in 26 days. That was the minimum that the court would allow. But times have changed.
Times definitely have changed. Especially after the new rules went into effect July 2019 (the tenant probably knew of this up and coming change as well)
Sorry about the long URL.
“3. the leftist judge ordered the landlord to forego a year’s rent starting in June 2019 on the condition that she be out by October 2020.”
Seems the lefty court tied his hands. . .not the fault of the landlord.
I know many people who are landlords, and I’ve been offered deals in multi-apartment buildings. I know its been profitable for many, both on cash flow, but also tax breaks and long-term capital gains. I hear a lot of horror-stories too. One friend recently had a tenant leave town, who purposely stopped-up the bathtub to flood the apartment (and those below) just before they bolted.
I’ve never been able to convince myself to make such an investment because it simply seems the terms are always slanted in the tenants favor, and even with credit checks, you are becoming a creditor to people you normally wouldn’t want to lend $20 to.
As you say, I guess its all about staying on top of things and management.