Posted on 12/23/2023 5:40:02 AM PST by AbolishCSEU
I have had two rent houses. Burned both of them so now I have nice clean pasture with straight fences and no tacky little yards. Not worth the trouble. Neither were bad houses. I would have lived in either one after I restored them with new hvac,paint, carpets, tile, fixtures, appliances, landscaping etc. Many thousands of dollars to try to attract good renters. They may exist but I have not found them. I just bought a place with a house on it a shack and yet people have inquired to rent or buy. I am burning it too soon. One more to buy and this section will be cleaned with four out of five dwellings and a couple of barns gone. Colorado’s trouble started with legal pot. The tatted, stringy haired, miscreants began to flock there. I saw it in Salida in 2016. Downhill since. This has become a nation of bleeding heart liars writing articles and spreading crap.
The real truth is that it protects bad tenants: drug dealers, petty criminals, and destructive people. I can no longer gently remove these people without court action.
Terminating a lease always has costs, usually several months of rent. I do not do it lightly, but if someone is so obnoxious that I am going to lose good tenants because of them, I have to.
Now I have legal fees on top of that AND the tenant ends up with an eviction record. Not good for either one of us.
The point is to drive out small landlords, and have Blackrock scoop up the properties and be the sole universal landlord.
I strongly encourage every publisher to not pay every author of such dribble as this and watch them change their tune.
Free ‘stuff’ army wins again.
There will only be one “landlord” in the future. This is there way of driving out small landlords.
And what about the landlords who can’t pay their loans because they aren’t getting the rents?
“Who runs Colorado?”
Gov. Polesmoker and his manwife.
They always want to “liquidate the Kulaks” is one way or another.
Which will cause rents to go up, because the landlord will have to factor that into operating costs.
So the next time these two go on vacation, simply move squatters into their homes. Problem solved.
I wonder how many property owners evict tenants who pay their rent reliably, take care of the property, cause no trouble to others, etc.
Tiny numbers of landlords might get rid of tenants to occupy dwellings themselves, or sell it for owner-occupancy. In such cases, the owners would probably help the tenants find new places to live, not evict them without notice in breach of a lease.
It’s going to be a lot harder to rent a home. The background check will be extensive and invasive. And if you’ve never rented before, you are SOL.
Tell me about it. Since the eviction moratoriums the tenant entitlement has grown by leaps and bounds once they know the gov’t can keep them from being evicted no matter what they do.
Most people moving right now are evictees, druggies etc and are looking for private landlords who don’t screen. We screen extensively. Better vacant than a bad tenant.
Your experience is similar to mine. I’ve twenty rental properties for twelve years, probably 100 different tenants in that time. I’ve never evicted anyone. In three cases, I chose not to renew the lease because they were causing problems. I’ve never had a tenant stiff me on rent.
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I have had some pretty bad tenants but that is not the norm. If they have a financial setback or divorce then it can get pretty bad. In the few cases I have had to evict they waited until the last possible day when the sheriff was coming to put them out.
I have decided I will try to avoid all that in the future by offering a months rent in cash if they leave within a couple weeks, that will save me money in the long run.
I have people leave after breaking the windows, putting holes in the walls, ruining the floor with dog poop and pee, when they weren’t supposed to have any pets. I’ve had to replace doors, windows, sub floor and flooring. I’ve had my appliances stolen. It can easily take a year to break even but I still do it. All my original money is still there and then some.
If I can maintain my health I will keep the rentals for the income if not I will sell out. If I do sell out the capital gains taxes will eat me up and I will have a drastic cut in monthly income. I think I might be better off having a property management company take care of them for me. I only have 8 units so it isn’t too bad right now but I am getting older every year so that it is becoming a real hassle.
I would 1031 it into something more feasible to avoid cap gains. Not sure where you are located but in a BLUE state ANYTHING is a better risk.
Ye olde cash for keys. I haven’t gotten to that point yet however I no longer do rental agreements longer than month to month since the tenant pool is now extremely poor and in BLUE states the only person held to a contract is the LL, not the tenant.
Actually the top two reasons are:
Being a slothful, entitled, drug addled, irresponsible bum.
Fixed it.
Once again people are complaining about the high cost of housing...without a single thought about how our open borders, and millions more people pouring across every year, is one of the primary drivers of that.
Why would the political party of street thugs not also be the political party of property squatters?
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