I'm Tired of Being A Landlord 

Yep

Yep. Upscale properties and screen ruthlessly, and go to the trouble to learn how to manage effectively. If you do that landlording is a great business.

@@Mullerlife1 stay away

Obviously you are smart...good job.

California is passing laws to not allow you to do any background checks on tenants or ask about where their income comes from, or raise rent more than CPI, evict poor tenants and on and on with little protection for housing providers.

Don't make investments you can't risk lmao. Easy.

It depends. We took our former tenant to small claims court and we won.

Best bet is to buy a nice house near a hospital and lease it to them.

We held their deposit and the property manager sent them the bill for the reminder payment after they left and they paid that. Also, they were navy and the housing program that they were a part of didn’t help us when we reached out to them (I am not implying that all soldiers are bad tenants).

Commiefornia

There's a lot of landlords that are liars and thieves. It works both ways. Thank god, I own my own house with appliances that actually work and I'm not freezing in the winter.

Today I dare say you had what would now be the exception

18 yrs? They could have been halfway to owning their own home! Nuts

You must give reasonable rent increases.

@@commonsenseisntcommon1776 Yeah and just think about how poor they will be without ownership of their own!!

not really. I have 3 sets of tenants and they are ALL fantastic. Clean, quiet, keep the yards spotless, and always pay on time. Of course, we vet our tenants to within an inch of their lives. @@j81851

It is.

It was with me for 15 years.

Absolutely brilliant! 5 stars best ever comment!

😂😂😂

It’s the Chinese probably pumping up the real estate market

It’s paying their own bills AND the landlords

@@LetsGoKraks Yeah or at least paying a high price for their own bills. I used to live with people who between the 3 of them only had $200 some months. Truth is I thought $400 for 3 people was fair but as we all can see they disagreed. Renters in my experience tend to not have much excess wealth.

Some landlords treat their tenants like parasites. I'm talking the ones who refuse to accept they are being paid THOUSANDS of dollars yet still think they can do whatever they want and not accept it's not all yours anymore. Or tenants are just seen as walking/talking atms, to pay for their lifestyle and therefore the building is not cared for properly and tenants are just supposed to take it.

@@somuchbaloney6283 I'd wager a dollar if I were a gambling man all three of these commenters are millennials, possibly live with parents in the basement and hate capitalism. Why do we have housing shortages? Because people have 100s of thousands in a property and would rather sit on it empty than put up with renters like all three of these would be. Gripey , whiney, late with rent unappreciative of the risk the business owner (property owner) has to maintain to codes and standards and upkeep. I am one of those business owners and last year I fired all of the few folks I had left because of poor performance, whiney, and negligent of responsibility. Now my oldest daughter does the books on line with an online bookkeeping system and bank account balancing tool, is 10 X more efficient and does it in appreciation of us helping her have a place to live. The other tasks the other employee did are now contracted with no long term commitment on an as needed basis. Go to the ant though sluggard do you work or own property? Probably not!

This is interesting and I’ve never thought of it that way. Maybe because I’ve rented three apartments and never had this attitude. I needed somewhere to live!!😂

Rent to adults instead

Might be because rent prices are considered a scam by most who can't afford live

That's funny,because did daycare for 40 years and it doesn't bother me. I'm certain that's why.

What a fak are you talking about??

im poor as fuck yet i dont see rent as a scam? Someone buys property and owns it i should have to pay to live in it lmao@@aa1greg

Honestly for the first couple years just let your experienced realtor handle finding you a good tenant then when you’ve had 2-3 years experience as a landlord do the vetting yourself I’ve had 4 good tenants in a row and this last one I got paid an entire year upfront from her parents Being a landlord is great as long as you get good tenants

I’m sure that does wonders to incentive landlords to rent out homes. 😂

@@menumlor9365 I'm not a landlord, but I'm sure there is a good process to get renters to ensure they will be good.

It’s easy to evict..

You got to look what you could get out of the money without working

Exactly. I’ve got lots of mid market and upper end properties. People that suck at being a landlord and let tenants manage them are the ones that complain. The cash flow, equity, and tax benefits are great.

True story about a former coworker. Her family moved frequently, every six months to a year. She used to boast about how she would look for "dangerous things in the house." It could be a leaky faucet, or a heater that did not work the way she thought it should. She would advise her landlord and stop paying the rent until SHE decided whatever issue was fixed to her satisfaction. She would use the court system and her kids to stay in the apartment and delay paying rent for several months... The her family would find s new place and move, without paying the back rent payments. One of the last places she played this irritating game was over a "wiggling handrail," and she bragged about living rent free for nearly a year. When she decided to move, her family applied for an apartment in an upscale area of Los Angeles (mid-Wilshire). She complained about being ignored, not just by the upscale apartments but by "every place" her family applied to. Meanwhile, her current landlord was working to evict her for non-payment of rent after he fixed the handrail. Her family eventually moved in with family members. She paid a rental agency to get her listings (such scammers were common in L.A. during the 1980s/90s) and found out that word had gotten around that her family was a poor risk as renters. She screamed about suing snd found out that it would cost s fortune in lawyers just to find out who to sue to clear her "good name." Even though it was likely illegal to trash her rentak status, a small group of us were delighted that she had gotten comeuppance for her grifting.

@@user-mv9tt4st9k - Ignored by every place her family (so there was another adult in the family?) applied to? Shocking!😉 Finally, what WENT around CAME around! I would hope if she could have afforded a lawyer, that he or she would have laughed her out of their office.

@kyung-What I'm Doing👍

where do you rent at? In my small town you dont pay rent you gettin thrown out with hands lmao

Wow! I've learned little lessons that cost me more than 5k. Not the way I would've handled it, but seems like it turned out ok for you.

My coworker had to pay 30k to repair damages to his SF rental home. He sold immediately after that

some people are so afraid to be alone--what they don't realize is that will cost them big--cohabitation laws in most state, the 'partner' can steal half your $

Why would anyone get married in this society? Divorce rates are over 50% with the divorce being initiated by the woman 80% of the time

​@@travelnurseadventures3225 and your lawyer yoinks another 1/3 rd.......

Recipie for disaster

I need Dave to give this same speech to all the men saying “marriage is just a piece of paper. We can still buy a house, have kids, etc. without it🥴”

Expensive? 9mm is like 30 cents per round? How many times do you need to repeat yourself?

Yeah I had a duplex once, worst experience. Now I only do single homes with fence back yard…

They don't pay the same or appreciate as much tho

Yes, my former neighbor told me about REITS over 15 years ago, I wish I listened to him! 🙄

@@md-wg4bz reits are 🗑️ tho

Don't be cheap. Hire a good property manager.

💯

I just moved out of Cali and my friends keep telling me i should have rented out my place instead of selling it. No way. As you stated the risks are way too high. I am all for renters having rights but Cali takes it too far.

​@sanahlis5322 Good, you didn't. You dodged a bullet. California lacks rentals to keep housing affordable. Yet they do everything they can to screw landlords.

I guess it depends. We took our former tenant to court and we won.

@@sanahlis5322🎯

Everyone buy's the lie that being a landlord is completely passive, but you have to put in some work. At the end of it all, you will have gotten a paid for house out of it. It's Completely worth it, and better than putting all of my money in a retirement account so vanguard can use my money to implement ESG scores on the world and fund Big Pharma etc.

Congratulations dude

You did it right then. My parents rented out 3 properties...after their tax bath when they sold they told me not to bother with that. They made some money but the money was worth less than the hassle.

Also 40 years ago and about the same age. Still remember that particular 3 am phone call waking me up: Hello, this officer X, ARE YOU THE OWNER OR LANDLORD of apt.#3 on XXX street? Are Mr.& Mrs. XX your tenants? - YES, Can you come over to that location as soon as possible? WHY? NOW? yes, Your Tenant Mr. X just murdered his wife and than shot himself. We need more information about them. Thank you. ** My 2nd year as young excited to be a landlord, It was a 4 Plex. Was such events ever mentioned in the get rich quick manual for 'Crazy Train'?

Unfortunately it appears your friends are doing it wrong.

That is highly illegal in Ohio

@@patriciadenzinger2644 not paying rent, damaging property is also illegal.

As a Canadian landlord - you know You can’t do that. Landlord tenant board provides all kinds of legal assistance to tenants.. Regardless of whether or not they pay rent.

Really good point

Now you're typin'!!!

Why?

@@DoctorSmartyPants Because it is another hardship for the woman if she seeks a divorce

Commercial real estate not too great today

It’s really bad.

Pet rent sounds good .I'm gonna charge that ..pets ruin property

I did the same thing. Best financial decision I ever made.

When you're in the trades, landlording becomes SO much easier. I have a hard time finding reliable trades people to show up when they agreed to and finish the job

@@YoPhocFays Well in my experience trade people tend to have many people looking for them so it any of that a supprise?

@@donaldlyons17 no surprise. It's just a reflection of the current market we are in. Back in 08' after the crash, trades we begging for work. Just a supply and demand issue. If we go through another dip, things may change. But it's all part of economics. The more trades/insurance charge, the more I increase the rent.

@@donaldlyons17 my issue is, if a trades person is too busy to do the job, just say so, and the customer can look for someone else. Respect eachothers time. Not to say thats you, but contractors and trades people have built a reputation for unreliability.

What Lord bullcrap

Jesus is the Lord. Doesn't change if you don't believe

@@georgewagner7787 I believe in mickey mouse instead it's the same thing!!

they brainwashed you with this nonsense as a kid now you an adult wake the fak up!!@@georgewagner7787

@@summerforever6736 You'll find out. The only mickey mouse around here is you.

You still have to manage THEM.

@@amireallythatgrumpy6508 ok for the two years I've had my property managers, so far here is the "managing" I did: 1. Say yes to fixing something. 2. Decide whether to raise or lower rent. 3. File taxes

And what a waste of time those activities are. Investing in real estate simply isn't worth it. @@JustAName-it5qp

Only an idiot would use 2 property managers for only 2 properties..are you elderly? Or just stupid?

He don’t want to pay as usual

You just need to manage the manager then. You're still managing.

Property management only wants money they aren't much help at all

Wow. That is the caliber experience I would want as a landlord. So if you know anyone, I'm renting my house now! =) There's a few gems out there like us!

The reality is there is no such thing as "passive income" anyway.

it's a dumb idea

You get what you wanted. There will be no affordable rentals. This attitude has driven mom and pop LLs out of business. Now you get to deal with large corporations

@@BusArch42Or, *or,* just turn it into a condo.

@@cameronf3343 if they cannot afford to buy they won’t be able to buy a condo. Most people rent because they cannot qualify to buy.

LMAO there is no such thing as "passive income" sweetheart. It simply doesn't exist.

@@amireallythatgrumpy6508 I guess I have 4 rentals with a property manager. I also have index funds. I don't what I call it other than passive

The word is "automatic"@@ds5651

And I don’t blame anyone for buying now

Any and everything else if you get one bad renters. Odds are you will get a bad renter over a good renter.

@@greglane3978 I've had only one very bad renter .but you evict..remodel raise rents and move on.... plus keep the deposit.

No answers...just like I thought

I promise you, when things get ugly the owner DOES have headaches. Management companies will have clauses that protect them. The buck stops at the owner.

Only until your renter stops paying. Then what?

I live in rv right now Van life is worse I can tell you right now don’t do it unless you work 100% off of internet and you don’t mind using the restroom at fast food places everyday don’t do it

Assuming your rents are always paid. If they aren't for any reason you are behind on both rents and you still have to pay a manager. It's not as easy as tik took makes it sound.

@@John-du2mq That's just a risk you have to take. 1-'s of millions of landlords take that risk everyday.

@@jimmymcgill6778 Problem is getting away with the risk taken...

@@John-du2mq I wasn't saying it was easy I have a rental property it's a lot of work But once you get things in motion it'll usually take care of itself after you've fixed and repaired just about everything.

You've still got to manage HIM.

Of course but it is still better than having to handle all the handymen myself, screening tenants myself, etc. It saves time and causes less stress so the 8% a month that he is paid is worth it. Also, he is a real estate agent and if familiar with all the laws and knows how to handle everything.

@@IrisP989 he's gonna do the bare minimum to get paid..he's not going to give a shit

Ok.. Things are replaced around the house and he is handling issues. Due to different circumstances in our lives, we are not going to handle the rental and we are not going to sell it either (the interest rate is 3% and we plan on keeping it income during our retirement and for our kids).