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Nobody Loves A Landlord
The typical landlord starts off life as a lighthearted real estate investor. The investor isbrimming with enthusiasm and is determined toacquire some single family homes that will beattractive to renters... and start down the roadto financial independence. Then... Wham! Reality smacks them right inthe face! The investor-landlord is fair game foralmost everyone. Why? Because nobody loves a landlord. It's bad enough that many renters don't quite understandthat without their monthly rent payments the landlordcan't make the mortgage payments on the property. A few renters are surprised to learn that the family room of arental home was just not designed as the place to rebuildmotorcycles. Nobody loves a landlord. And then... how many legal hoops must the landlord jumpthrough? In most states tenant/landlord law favorsthe tenant in many ways For example: A tenant signs a one year lease. Six months later thetenant breaks the lease and moves. Now the law demandsthat the landlord find a new tenant for that unit asquickly as possible. Yes, the tenant only has to pay rent until the new tenant is found... but the burden falls on the landlord. Why shouldn't the tenant... the one who broke a contractual promise have to find the replacement tenant? Why? Because nobody loves a landlord! Here's the first paragraph of a story in my morning newspaper "A huge marijuana garden of 212 plants nurtured by an intricate irrigation and lighting system worth ten of thousands of dollars was uncovered inside a West Valley rental house Saturday." The house was vacant except for the cash crop and I can'thelp but wonder if the growers were getting governmentfarm subsidy payments? The home has an out-of-state owner. Some poor investor whothought he would cash in on the fast-rising Arizona home values. Here's the kicker. That investor could be held responsible, becausehe did not properly supervise the use of the property! Many areashave such laws. Why? Because nobody loves a landlord! This should be a reminder to all of us that a rental house orunit is not a set-it-and-forget-it investment. Every good leaseor rental agreement has an inspection clause that allows thelandlord or his representative to periodically enter and takea look at the condition of the premises. Are you doing that? You should be, because... Nobody loves a landlord! About the Author: Mark Walters is a third generation real estate investor who shares his experience from his Web sites:http://www.lease-option-sub2.com
MORE RESOURCES: L.A.’s Real Estate Upfronts Reveal Penthouse A at Rosewood Residences Beverly Hills Hollywood Reporter Refined Real Estate: Unique Leschi home with lake views lists for $1,395,000 seattlerefined.com Coloradans negotiating lower fees for real estate agents with new law on horizon Colorado Public Radio Real estate mogul cautions about avoidable mistake when buying a home, explains how to avoid 'drowning' Fox Business Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties May 19, 2024 edition MassLive.com Real estate transfers: May 17, 2024 RiverheadLOCAL Real Estate Newsletter Articles this Week: Housing Starts Increased to 1.360 million Annual Rate in April Calculated Risk London Real Estate Is About to Get the ‘Selling Sunset’ Treatment Hollywood Reporter Mid-May Greenwich Real Estate Market Report Greenwich Sentinel Should I Buy a House Now or Wait Until 2025: Expert Forecast Norada Real Estate Investments Dodge County Real Estate Transfers Fremont Tribune The Michael Houck Real Estate Guide for May 19 Oil City News Washington state ahead of the game as lawsuit rewrites real estate commission rules The Business Journals MCB Real Estate Revives Long-Awaited Viva White Oak Mixed-Use Project Source of the Spring STAR resource center Department of Taxation and Finance Yes, there are other coastal Delaware towns besides Rehoboth Washington Blade Dutchess County, NY real estate 2024: What's on the market for $579K Poughkeepsie Journal Baltimore real estate: 4 waterfront condos for sale The Baltimore Banner Revolution in real estate: How the NAR settlement is changing the game Eden Prairie Local News Real Estate Briefs: Lakeside homes, news condos, and more news Rough Draft Atlanta Home Prices Hit Record Highs in April 2024: Trends & Forecast Norada Real Estate Investments REAL ESTATE | UPDATE | Johnson Bus selling lot for new West Bend Fire Department No. 1 washingtoncountyinsider.com VIDEO | REAL ESTATE | Construction finally underway for Taco John's in West Bend, WI washingtoncountyinsider.com Innovative Leaders Vanderstraaten and Rohrman Inducted into North Texas Commercial Real Estate Hall of Fame ... dallasinnovates.com Here are recent property transfers up to $1.28 million St. Albans Messenger James Quinn's Data Center Advisory Expertise at JLL Drives Innovative Real Estate Solutions for Global Corporations Markets Insider Oceanport's Denholtz recognized by commercial real estate organization themonmouthjournaleastern.com Westmoreland County Real Estate Transfers | Real Estate | latrobebulletinnews.com latrobebulletinnews.com Real Estate Mogul Grant Cardone Closes Largest All-Cash Multifamily Deal In South Florida This Year Yahoo Finance Routt County real estate sales at $17.6M for May 9-15 Steamboat Pilot & Today China Says It Will Start Buying Apartments as Housing Slump Worsens The New York Times OT Real Estate Spotlight of the Week: 2115 Sheridan Place The Owensboro Times Robert Willett may be targeting female Realtors in Northeast Ohio Akron Beacon Journal Number of homes for sale in Metro Atlanta increased significantly, real estate brokerage says – WABE WABE 90.1 FM Billy Joel spends over $10M for sprawling East Hampton pad with horse farm, neighbors other A-listers New York Post What's real estate wellness? Fortune Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Billionaire Frank McCourt raises his hand to buy TikTok Business Insider Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Ellison sues real estate broker Chad Banken over alleged schemes involving contracts for deed Star Tribune Navigating Northern Virginia Real Estate: An Insight Into Rhonda Campbell's Bespoke Approach Grit Daily My Co-op Neighbor Never Pays His Maintenance on Time. Can We Make Him? The New York Times ACRES 2024 showcases innovative real estate projects focused on enhancing environmental sustainability Malaysia Sun Local couple buys Pat Burrell's former Center City penthouse for 38% under original asking price The Business Journals Letter: Clarifying changes to real estate industry Morgan Hill Times Home listings are on the rise in southern Colorado, while other indicators show a slowing real estate market Colorado Public Radio Sean Bloom Investments Announces $2B Real Estate Project in Las Vegas InvestorsObserver Southern fast-food chain Cook Out buys Tampa real estate The Business Journals Did Fort Worth’s real estate market really ‘bottom out’? | Fort Fort Worth Star-Telegram New Rules for North Texas Real Estate Agents Creates Uncertainty Dallas Observer EG Real Estate: 18 Opens This Weekend – East Greenwich News East Greenwich News KKR Real Estate Finance Trust Inc. (NYSE:KREF) Given Average Recommendation of “Moderate Buy” by Analysts Defense World Busch relative settles squabble with Clayton investors over real estate trust St. Louis Post-Dispatch Real Estate Transactions for May 18-19 | News, Sports, Jobs Nashua Telegraph Edgefront Real Estate Investment Trust (TSE:NXR) Forecasted to Earn FY2024 Earnings of $0.73 Per Share Defense World LOCAL REAL ESTATE TODAY 5.17.24 – KQEN News Radio kqennewsradio.com Shaping the Future of Real Estate Technology RisMedia.com Do starter homes still exist? Here's what NJ realtors said NorthJersey.com Housing Market 2024 Predictions Bankrate.com End of war against property speculators marks new phase in China housing South China Morning Post First Capital Real Estate Investment Trust (TSE:FCR.UN) Share Price Crosses Above Two Hundred Day Moving ... Defense World |
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