Posted on 01/21/2022 4:44:05 PM PST by billorites
I went to my first eviction hearing in two years last week. I hadn’t evicted anybody, or lost any rents, during Covid. The neighborhood social-services agency had given out rent vouchers to six delinquent tenants of mine.
The tenant in apartment 403—a one-bedroom—was an exception. I had told him about the free rent money at the agency, but he never moved on it. His living room consisted of a sleeping bag, dozens of cigarette butts and a bong. Every Monday I knocked on his door to see if he was still there. He owed three months’ rent. On his application he had written “house painter.” But he was always home.
When my leasing agent rented to him seven months ago, the painter had been accompanied by his mother—always a good sign. He was 27. In hindsight we should have had mom cosign.
I wore a necktie and a polar fleece jacket to eviction court. A step up for me—the necktie. The policeman at the courtroom metal detector said to me, “Counsel?”
“No, landlord,” I said.
I sat on a bench outside the hearing room, wondering if the defendant would show. Several days earlier I’d told him: “You might want to move out ahead of time to avoid a public record, to avoid an eviction.” He texted me back: “You’re going to have to go through the eviction process while I work things out.”
I was paying for his heat, cooking gas, water and roof. That was annoying. I like to pick my charities, and he wasn’t one of them. I called his mother. Her name was on the application. She said, “I thought you were going to tell me my son is dead.” I knew what she was talking about.
Seven years ago, a 30-year-old tenant died from gunshot
(Excerpt) Read more at wsj.com ...
I’d rather invent in dividend producing securities instead of being a slumlord.
We live in a world now where Might makes Right. The government (especially the FBI) persecutes the innocent and protects the guilty. The courts help the bad guys in too many cases.
Sometimes I think we’d be better off if we could call in a favor from the Mafia. “I have a tenant and he won’t leave. Could you make him leave? Thanks. How much do I owe you?”
That would seem to be the only way We The People could get any power back.
I never want to be a landlord.
Where’s the rest of the story? It looked well-written and interesting.
I know of such stories myself. Meanwhile most here will not pay to read the WSJ ("Continue reading your article with a WSJ membership") thus with such it is best to try to edit enough to include the conclusive except within the 300 word except that is allowed. But thanks anyway.
When the mob ruled Vegas,the criminals knew better than to start trouble...
I looking forward to being a landlord. In fact, I hope to soon make more money with rental income than my W2 job.
The secret? Don’t be a slum lord. Buy B- neighborhood homes and screen your tenants.
Do these things, and you typically don’t have these problems.
Oh, it also helps to own rental properties in the landlord friendly South.
Boston’s North End was the safest neighborhood in the city. It was the Italian section. Then the mob got cleaned up and now the North End is just another neighborhood with as much crime as any place else. Still has good Italian restaurants though.
Depends on the State. some States are just horrible for landlords... Calif is a prime example. Others are less commie and it’s easier to evict a deadbeat.
I thought the same thing, then I was Walled Off.
Oh well. I have had some low level Landlord experience.
Chosing who to rent to is always a high stakes gamble.
Some folks interview well then fall apart almost as soon as they are unpacked. Alcohol, drugs, disorganized or plain old lazy behavior, too many over night guests, extreme pickiness and constant complaining, are all possibilities.
Same way in Cleveland.
There was little person on person crime in the mob controlled neighborhoods. As long as you played the game their way. Now it’s out of control.
“Oh, it also helps to own rental properties in the landlord friendly South.”
You can say that again.
I’m in Oregon and wouldn’t touch the rental market with “your money” let alone mine.
Besides, the real estate valuations on the West Coast are extremely high, so high they look stupid.
My sister had a small apartment she rented out but she never advertised for it. It was alway by word of mouth and referrals from good friends.
It usually worked out pretty well. She had a few oddballs but never any real major problems to speak of.
Our first and only landlord experience was FAR FAR worse than that. The guy stopped paying rent for close to a year. Santa Cruz County in CA is the worst place you can be a landlord in the entire nation. Starting eviction proceedings was a nightmare. Meanwhile, he stripped the place bare including appliances, hot tub pumps, lighting fixtures. The water had been shut off but he continued using the toilets. The place was literally knee-deep in garbage and porn mags. To make matters worse, it was an epic rain year which created a five foot deep trench down the road in front of the house. We were in an investment group with four other investors and we all lost a boatload of money. My neighbor was a police captain in town and ran the guy’s hotsheet — it was as long as your arm. He’d been pulling the rental scam for years. Boy, did we lose a lot of money.
“I’d rather invent in dividend producing securities instead of being a slumlord.
Me too.
Dealing with incompetent tenants who are ignorant at home maintenance & 3rd parties that only want your money, makes other business ventures more appealing.
I’d rather chase equities & bonds, even with stock market fat and low bond yields in the current economic environment.
“Happy hunting”
Eviction is only the first step.
After that if they still refuse to leave you have to eject them via the court.
Hundreds and sometimes thousands of dollar later..if they still refuse to go ..then finally the sheriff shows up and removed them.
The states I invest in an eviction can be completed in as little as three days.
Eviction is only the first step.
After that if they still refuse to leave you have to eject them via the court.
Hundreds and sometimes thousands of dollar later..if they still refuse to go ..then finally the sheriff shows up and removes them.
Eviction is only the first step.
After that if they still refuse to leave you have to eject them via the court.
Hundreds and sometimes thousands of dollar later..if they still refuse to go ..then finally the sheriff shows up and removes them.
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