So You Want To Be A Landlord -- Part II

By
Real Estate Broker/Owner with Lazarus Realty

Well, maybe you don't want to be, but you're in the position that I mentioned in Part 1 of this Series.

Before you take the plunge, allow me to share a few stories with you: nothing fabricated; all TRUE.  How do I know? They are mine, and mine alone to tell J

Story #1

I get a call from  Susie (not her real name) enquiring about my house for rent .  I must emit  "soft touch" radar, because the next thing I know Susie is appealing to my Christian charity and asking me to save her and her child from homelessness.  I should have ended it right there.  I knew from what she told me that she couldn't qualify under any traditional guidelines.  It wasnt long before I took pity on poor Susie and told her I would rent to her if her parents would be willing to meet with me and co-sign a contract.

Her parents, who obviously didn't want Susie living with them, agreed to co-sign for her rent payments.  Whew!  Ok, so I figure if I rent to her I shouldn't have any problems, at least collecting the rent.  Partially right, here's what happened.

Susie paid her rent on time and took good care of the property until.... UNTIL her boyfriend was released from prison.  #1 I had no knowledge of the boyfriend. #2 the boyfriend was not on the Rental Agreement. But I can guarantee you  boyfriend was sharing the house with Susie, who was now not paying rent.  I don't think Susie's parents approved of boyfriend because I stopped getting the rent.  

When I went to collect I was greeted by a shirtless, tattooed, guy who obviously had nothing better to do in prison than work out.  If I were to guess where the rent money was -  I would say in his veins. He didn't look happy; didn't act happy.  Just asking him for the rent money made my butt pucker.

After they moved out I had to patch a hole in the living room ceiling made by ballistics (translation: it looked like he blew a hole in the ceiling with a shotgun).  I was also told later that while they were living there, a mutual friend who didn't like how  boyfriend was treating girlfriend, during an argument, shot boyfriend in the leg on the porch.  I had good reason to be uncomfortable when collecting (or trying to collect) the rent.
___________

Check back soon! 
I have plenty more stories to tell.  And if you need help selling or managing your Fresno California property don't hesitate to call me.  My stories might sound negative but I am POSITVE I can help you. 

© Randy "Lazarus" McAtee

   Owner/Broker Lazarus Realty

   559.301.1647

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Rainer
14,512
Lori DeLoera
Century 21 Sundance - Port Orange, FL
Stick with your instincts.  I find that as a landlord (lady), it works just as well or better than the background checks.
Oct 24, 2007 12:32 PM #1
Rainmaker
197,786
Roberta Murphy
San Diego Previews Real Estate - Carlsbad, CA
Carlsbad Real Estate and Homes
LOL! Once upon a time I did property management in Houston, TX. Some of those stories could fill a book:-)
Oct 24, 2007 12:34 PM #2
Rainmaker
273,600
Bill Carroll
Corcoran Real Estate - Westhampton, NY
IN REAL ESTATE, REPRESENTATION IS EVERYTHING
Sounds like fun. My tenants only tasered the nieghbor's dog.
Oct 24, 2007 12:35 PM #3
Rainmaker
434,131
Sal Poliandro - NJ Bergen County Realtor
RE/MAX Properties - Ridgewood, NJ
Broker Associate
Randy - Hahah it sounds like you're having a lot of fun over there.  All the landlords I know have hundreds of stories of the crazy and wacky antics their tenants perform.  Always trust your gut instincts when interviewing a tenant and don't be afraid to do a background check. 
Oct 24, 2007 01:11 PM #4
Rainer
10,175
Michele Samph
Coldwell Banker Heritage - Quakertown, PA
Oh My Gosh, I am a new Landlord and hopefully I don't have that happen to me. It sounds funny but not if it's happening to you. Wish me luck!
Jan 30, 2008 03:44 AM #5
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Rainmaker
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Randy "Lazarus" McAtee

Owner/Broker, Lazarus Realty, Fresno California
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