Why are landlords so demanding?

By
Industry Observer

If you're a renter, there's a good chance that you have given some thought to owning your own place.  There's also a good chance that part of the reason for wanting to own your own home is the conduct of your landlord.  He will not let you do hardly anything to personalize your home, he won't let you have a dog, he won't let you park your boat in the driveway, and he gets really upset when you're a couple days late with the rent payment.

You're paying your landlord's mortgage, and he is making a profit renting to you.  Why is he so demanding?  Well, you need to keep in mind that there's a reason why your place is not really your place.  That's because you are living in temporary housing.  Look around at the other tenants.  There are lots of young people experiencing their first attempt at living out of their parents' home.  There are others who are just out of school and in the process of getting hired by some company, they don't yet know where.  There are some longer term tenants, mostly losers who will never have good enough credit to control their own lifestyle.

Almost all the renters are on their way somewhere else, either back to their parents' home, to another city, or to their own home.  In most instances, the temporary housing has to lack individuality because it has to appeal to any potential renter.  That means no distinctive paint, no non-generic behavior, no evidence of previous distinctive behavior -- dogs, smokers, etc.  In order to profit, or at least break even, the landlord has to keep the expenses of changing from one tenant to another as low as possible, and the time required to make the change as brief as possible.  The landlord must make his scheduled payments for debt on the property and operating expenses on time.  To do that, your rent payment needs to be on time.

So, here you are in your temporary housing, the Land of the Bland, wondering if it would be a good idea to make the big lifestyle upgrade to becoming an owner.  Get serious.  Unless you're a confirmed loser, you're treading water right now and you know it.  Call me now to arrange a convenient time for your home buying orientation and landlord firing strategy session.  It's free, you'll learn a few things and have a lot of fun doing it.  Call me now.

Posted by

 Mike Carlier  Lakeville, MN

 

612-916-3033

 

Comments (6)

Elizabeth Byrne
Keller Williams Realty - Arlington, VA
Arlington Virginia Real Estate

Mike, great post. You are right - giving your money to a landlord is like throwing it away. The landlord is the only winner. I hope this post motivates some of the potential buyers in your area and make your phone ring. Have a great Sunday. 

Oct 09, 2011 02:36 AM
Bryan Robertson
Los Altos, CA

You really called it.  With the cost of borrowing these days, those renters who could buy should do it while they still have the chance.  There will always be losers who never can and won't but everyone else should be buying.

Oct 09, 2011 02:40 AM
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I'm working with a tenant at the moment (a temporary tenant as a result of a relocation) who will find that the mortgage payment on his new home will be less than rent.  What a glorious feeling.

Oct 09, 2011 03:33 AM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Mike, you write great comments....and you write great posts.  Thanks for this one.  This explains the renting situation very well.

Oct 09, 2011 03:59 AM
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Elizabeth, isn't it ironic when a renter wants to delay buying because they are afraid prices will drop a little and they may have wasted some money?  It's a case of possible loss  vs. guaranteed loss.

Bryan, the above anerage renters figure it out quickly, most of the others take a while, and then there are the dedicated losers.  Landlords love losers as long as they follow all the rules.

Chris Ann, not only are mortgage payments often lower than rent, they will never increase.  What are the others waiting for?

Suzanne, thanks for the comment and compliments.  Just checked my birth certificate, and it says I'm eligible for that driving course. 

Oct 09, 2011 04:55 AM
Mark Delgado
houses for rent, Solano County & Glen Cove - Benicia, CA
Benicia and Vallejo, Property Management, rental h

Mike,  you might want to post this blog in the group "Property Management" to get feedback from property managers as well.  By the way, I agree with you.

Oct 09, 2011 06:51 AM

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