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My Struggle As a Landlord

September 3rd, 2006 at 01:16 pm

I hate being a landlord. I love owning property and I love to make money with it, but boy.........I hate the landlord role with a passion. I'm not good at it, I end up with tricky little situations because I let stuff slide and hate confrontation.

So........my landlord role needs some work. And, I'm going to write about it so I actually feel compelled to do something about it all.

All of my landlord decisions are pretty directly tied to my finances. So....if I got better at one, the other would benefit, right?

Some things on my initial TO DO list here:
1) Call the horse lady who is boarding 3 horses now but still hasn't paid for August. Also has appropriated a parking space in the carport for hay, not paying for that either. Come to a workable agreement or give her 30 days notice to move 'em out.
2) Review boarding contract with new guy that bought 1 horse from 'horse lady'. He has paid rent through 12.31.06 and has asked to rent one carport space for hay. (need to work that out here, I'm giving one space away as it is, now he wants to rent one....ick)
3) meet with the new RV man & come up with a written rental agreement or have him move. He had agreed to pay rent, but so far I haven't seen it. Many more vehicles than we had talked about have shown up here. Plus a barking dog, no bathroom facilities and a long list of other difficulties. This will definately be my toughest task, as there is a young girl involved and I was in hopes I could assist to see that she got to stay in school.

September will be landlord in training month here.......I've got plenty of issues to work on. Good thing I've got 2 situations that ARE going well, or I'd feel like throwing in the towel.

And, the other goal related to real estate is to make contact with the previous owners of this place. She called last month saying she wanted to buy it back...and I've made 2 attempts to reach her, but haven't connected yet. I want to know if she is serious, so I can start making some headway on that deal. I've had the comparisons done on her current place as well as this one, so I've done my homework, just need to see if she has done hers.

2 Responses to “My Struggle As a Landlord”

  1. boomeyers Says:

    You sure have a lot of tenants too. All with unique situations. I don't envy you. There is no good set rules for all situations or maybe you should find one!

  2. baselle Says:

    Well, you have a little momentum in handling long, drawn-out situations. You could use the giddy relief you felt when you finally finished with blazer woman to tackle your tenants.

    Fun and games are over, as my mom would say.

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