Quote:
Originally Posted by dafischer
BTW: First time landlord here.
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I had a bad start at the condo I bought:
1). The first tenants(young men) I inherited told me to get bent and stopped paying rent.
I took them to court twice, got ripped off by the attny, but should have kicked them out from the start.
I lived in the place a while, and fixed it up nice.
2). The second set(lesbian couple) who were filthy dirty and loud.
I liked them only because they fought with the scumbags downstairs causing 90% of the problems in the building.
Then they started demanding lower and lower rent to remain, and I kept conceding and bending over backwards trying to fix every little thing.
My mistake.
They finally threatened me with bringing in the EPA/Health Administration along with a resident class-action lawsuit because of cigarette smoking in the building. I had done what I could inside, but there were no prohibitions in the by-laws.
I finally told them to leave. Soon.
3). The third set was a responsible young woman with an alky boyfriend who lost his job.
She stayed a while then moved on.
I had a management company take over because of general burnout.
I figured they would get higher and faster rents.
4). The fourth set(young men) entirely trashed the place putting holes in the doors and drywall. About a grand and a half in damages, plus they were months late in rent.
The management co. sprayed the whole place semi-gloss white because the roof still hadn't been fixed after eight years.
There was (indicated) about $40K missing from the books and several lawsuits involved against the developer/majority owner/president/treasurer.
It's still an ongoing issue.
5). It's rented now at top dollar to a nice young man in Sect. 8, and the roof is fixed.
Nine years of bad luck...