Heidenreich Posted July 27, 2007 Share Posted July 27, 2007 Maybe, but hey that is an incentive to pay rent on time now isn't it Besides, the person has to sign the contract so who's fault is it? I know. And as a tenant, I should probably know what my penalites are should I not pay my rent, but since I pay on time, it's not an issue I see coming up. You have to remember I built this house 15 years ago and only mortgaged 87k. Now my mortgage is going to go up since i put on this addition I figured it was something along those lines. Besides, I think he's only been on time once or twice. I never understand this. A woman at my work was saying yesterday that her landlord is mad because she's 2 months late on the rent. When we asked her why she was late, she said she had to buy her daughter a dress for the prom. She couldn't understand when we told her how stupid that was. Maybe theres something wrong with me thinking that paying rent promptly is a good idea. Link to comment Share on other sites More sharing options...
TMK9973 Posted July 27, 2007 Share Posted July 27, 2007 I know. And as a tenant, I should probably know what my penalites are should I not pay my rent, but since I pay on time, it's not an issue I see coming up. I figured it was something along those lines. I never understand this. A woman at my work was saying yesterday that her landlord is mad because she's 2 months late on the rent. When we asked her why she was late, she said she had to buy her daughter a dress for the prom. She couldn't understand when we told her how stupid that was. Maybe theres something wrong with me thinking that paying rent promptly is a good idea. I don't get that eaither. I've owed mostly but when I moved to Southern CA I had to go back to Renting (You don't even want to know the costs) Rent was always 1st on list of what to pay for. it's always 1st to be paid. Every month. Link to comment Share on other sites More sharing options...
Drockvb Posted July 27, 2007 Share Posted July 27, 2007 Bounce his @$$. I wish my rent was that low. :mad: Link to comment Share on other sites More sharing options...
Bostic Hog Posted July 27, 2007 Share Posted July 27, 2007 Note to self, move to York, PA. My rent for a 2 bedroom apartment is $985 And that's actually cheaper than most of my friends pay. QUOTE]Heid, You have to remember I built this house 15 years ago and only mortgaged 87k. Now my mortgage is going to go up since i put on this addition Hey big fella, will you come build me a new house? I'll pay you 87k. Link to comment Share on other sites More sharing options...
TMK9973 Posted July 27, 2007 Share Posted July 27, 2007 I do want to add one thing. I know there are deadbeat tennets. But there seem to be good tax laws for Landlords. Don't know right off - But it seems once you get started - Losses are ok. I base that only on the fact that the house next to me was being rented out. I know the family was over 3 months late on the rent. They were about to be evicted when they reached a settlement to leave with the guy (He only recovered 10% of what they owed, but they left within a week). The house was trashed. Probably about 10-15% of the vaule of the house was going to need to be paid to bring the house back to good condition. Not to meation that it would take time (Ended up taking them almost 2 months) to do all the work that needed to be done. + the fact that they had lost 3 months in rent. I went ot the owner and gave a offer of 85% of the vaule of the house to buy it "As-is" and close within 15 days. He thought about it and turned it down. Didn't even counter. Said that he would just write off the lost this year and maybe make money next year.... Link to comment Share on other sites More sharing options...
Blondie Posted July 27, 2007 Share Posted July 27, 2007 Probably a combination of naivete and haste. A young guy shows up with his grandmother, I guess I just assumed the best about him. Turns out the guy's a lousy, no-good, deadbeat criminal. Guess I was just stupid. Maybe it was not his grandmother......just partner in crime? Might want to keep an eye on the place. He certainly can abscond with everything not tied down. Link to comment Share on other sites More sharing options...
edgun88 Posted July 27, 2007 Share Posted July 27, 2007 I think at this point its time to start breaking fingers and asking questions later. Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted July 27, 2007 Author Share Posted July 27, 2007 Maybe it was not his grandmother......just partner in crime?Might want to keep an eye on the place. He certainly can abscond with everything not tied down. I've talked to her, but she's just washed her hands of the situation. Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted July 27, 2007 Author Share Posted July 27, 2007 I think at this point its time to start breaking fingers and asking questions later. Time to assemble "the Family." Link to comment Share on other sites More sharing options...
edgun88 Posted July 27, 2007 Share Posted July 27, 2007 Time to assemble "the Family." Yea...you know...the Tailgate Mafia. Link to comment Share on other sites More sharing options...
dwbiggs Posted July 27, 2007 Share Posted July 27, 2007 I've considered buying rentals but its stories like this that change my mind every time. Link to comment Share on other sites More sharing options...
Larry Posted July 27, 2007 Share Posted July 27, 2007 A late fee every day? That's insane. I once was evicted from an apartment. (I'd paid my rent, but my roommates hadn't paid theirs, and I didn't have enough to cover their back rent.) Explained it to my new landlord (advised him to call the previous landlord to verify). He wrote me a lease where my rent was $750 a month, but that, if the rent was paid by money order or certified check, delivered to the landlord's home, on the 1st of before, then the rent was only $675. Basically, I had a $75 fee if I was one day late. (Never was.) Link to comment Share on other sites More sharing options...
Larry Posted July 27, 2007 Share Posted July 27, 2007 I do want to add one thing. I know there are deadbeat tennets. But there seem to be good tax laws for Landlords. Don't know right off - But it seems once you get started - Losses are ok.I base that only on the fact that the house next to me was being rented out. I know the family was over 3 months late on the rent. They were about to be evicted when they reached a settlement to leave with the guy (He only recovered 10% of what they owed, but they left within a week). The house was trashed. Probably about 10-15% of the vaule of the house was going to need to be paid to bring the house back to good condition. Not to meation that it would take time (Ended up taking them almost 2 months) to do all the work that needed to be done. + the fact that they had lost 3 months in rent. I went ot the owner and gave a offer of 85% of the vaule of the house to buy it "As-is" and close within 15 days. He thought about it and turned it down. Didn't even counter. Said that he would just write off the lost this year and maybe make money next year.... I live in a college town. About half the houses in my neighborhood are rented to 3-4 college students. One of my neighbors (the landlord, not the tenants) said that, when he went in to clean up after one batch of tenants, they had taken drywall and 2x4's, and had divided all of the bedrooms in half. (Turning a 3BR house into a 6BR.) I gather that one of the problems with being a landlord is that you're constantly dealing with tenants who are "judgment proof". And know it. Link to comment Share on other sites More sharing options...
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