Our Rental House Got TRASHED!

[@crowtservo]

My uncle has a rental property that got trashed. He was thinking of just letting it sit empty. My cousin asked about it and my uncle let him live there rent free for two years if he got everything fixed up. He not only fixed up the damages, he ended up probably increasing the value of the property for him. My uncle was so happy he gave him an extra year rent free. Now my cousin pays $500 a month. It worked out really well for both of them.

[@Skweepa]

It's nice when people share. I hope your uncle has all of the retirement money he needs though.

[@afringedweller]

I was so naive, because I'd always fixed up and increased the value of my landlords property, and the same for my friends. We were into cheap rent, but fixing the places up so we felt like great living in them. Years later, when I finally got a place to rent out, I was so shocked to find out how badly people treat their landlords/rentals. Sad but true.

[@crowtservo]

Skweepa Yeah, he’s loaded.

[@chrisj197438]

Honestly I wish there was a program for people to live in an abandoned house rent free as long as they pay utilities taxes and maintenance to bring it back to acceptable condition.

[@WeKnowTheTruth2012]

Your cousin was cool at least he really didnt live "free" just paid in a different way and your uncle loved that.

[@michaelwoods4495]

I had to get out of the rental business. I'm too softhearted and fall for whatever tenants tell me. Mutual funds for me!

[@leonardbreau8928]

This is just one example of the many possible problems you can have with rental properties. Another common issue is people not paying their rent - it can take 3 - 6 months to evict them. If you have a mortgage on the property, the lending institution won't listen to your sad story.

[@1575murray]

@@leonardbreau8928 Not only that but once a tenant knows you have filed for eviction it is an open invitation for them to destroy your property and take off leaving you holding the bag for repairs as well as the unpaid rent. I wouldn't have much confidence in the authorities at least in New York to track them down and prosecute them.

[@_trust9994]

@@1575murray Do not also forget that tenant can do harm to you or your loved ones. People are crazy so like OP said, I have decided to also invest in mutual funds, bonds etc.

[@leonardbreau8928]

Had a coworker who owned numerous rental properties. He said the first thing he always did with prospective new tenants was to look at how clean the jnterior of their cars were. He said that was a good indicator of how well they were going to take care of his property.

[@markvaio5201]

Leonard Breau I agree

[@JiisTube]

Interesting idea

[@renaeadams7868]

Funny my Lawyer said that's the 1st thing he does when he interviews for assistants. He said if their car is messy they're not getting any further in the interview. Lol I do see the point of that, it makes sense.

[@ryankiel4895]

Check your girlfriend's car. My former girlfriend's car was trashed. Now she is my wife, and she is still a slob, sad to say.

[@et5895]

My dad told me this but told me to look with everybody I'd potentially be around for longer than a few hours.

[@marymcewen6888]

Ive learned the hard way that when you are helping someone out, they do not see it that way and will turn on you in a heartbeat. They feel that it is owed and that somehow you are not doing enough.

[@mohammadwasilliterate8037]

I don't help people, I don't even lend my family money, because they are idiots with money and I earn a high salary.

[@danielcho3270]

Hi Mary, thanks for sharing. I agree with your observation and, in fact, I say all the time 'no good deed goes unpunished'. The thing is I think that's what makes doing good deeds even that much more noble and pleasing to God (if one believes in God). To help someone out, not expecting anything back AND possibly expecting them to actually turn on you, and still do it, that's amazing and maybe the highest level of good that we can strive for.

[@godfirst4221]

Daniel Cho I completely agree with you. I noticed that when helping someone out it always bites me but i also know It pleases our lord.

[@skip123davis]

i mostly agree, but there are times where it isn't the case. 80% of the time, i usually get burned, which i'm fine with - i never wager more than i can afford. i recently met someone who is restoring my faith because she is totally open and honest about all of it. i guess we'll see how it goes. i still DO believe in compassion, though: com passion = suffer with.

[@MsDrSantana]

Very true. There are psychological reasons for this. When people are not required to reciprocate, they know they are exploiting the other and need to find justifications to reverse this in their mind. The ONLY way to extend help to anyone is to require they do something important in return for you. Whether you need it or not is not the point. Make them provide some service in exchange for what you're doing. As an attorney, the people who burned me were always ones I gave free services. Reciprocity is an essential law of human interactions/human nature.

[@user-nh4tm6hh4j]

I've been a landlord for thirty years. Here's what I learned about tenants. Judge them harshly, let me say that again. Judge them very harshly. An average rental is worth $75,000 to $150,000. Think of it this way. You've got a suitcase with $100,000 dollars. Only hand it to someone that checks out super good and has a history of NEVER F-ing up. Back when I started renting property it was kinda of tough to check people out. Today with big data on my side I know more about my tenants than they know about themselves. Bad credit, bad criminal backgrounds, past bankrutpcy and low income are sure signs of failure. You are WAY better letting it sit empty than having a bad tenant.

[@ogj13]

thanks for the tips. your right even if it might sound harsh but like you said. Is a business. I want to purchase a rental property and the main reason i want to do it is to invest.... is business not charity people!

[@SomeBuddy777]

@@ogj13 💯 TRUTH THAT ✔

[@maidieuhanh]

Would you suggest hiring a lawyer to draft the lease? Thanks

[@ShirtlessSimonCowell]

@@maidieuhanh There's actually leases available online that people share. I'd personally use one of those, read it over, and edit it. Looking over a few might help you realize what clauses are important to you and you'd want to include. Maybe ask a lawyer how much it would cost for them draft up a lease for you versus looking over and editing one, then decide from there. If they're drafting one for you though, definitely be sure to tell them about any clauses you'd like to have and ask to make sure it's all legally binding under your state's or country's laws.

[@maidieuhanh]

@@ShirtlessSimonCowell thank you!!

[@machintelligence]

"Helping someone out..." In real estate no good deed ever goes unpunished.

[@paulbrungardt9823]

Yeah, I been there/done that!

[@EssentialOilStories]

Tip for landlords: If you are the one checking references, always look up with county records who the true owner is of the places they've rented at, and make sure it matches the owner's name they write down on the application. People lie and write down their friends name and phone number and have them act like they are a current or previous landlord.

[@MrsThollo]

Good tip!

[@themetadaemon]

Had that happen to me a few times. Got lucky the first time because some kid answered and gave a glowing recommendation. Sounded fishy. Checked it out, sure enough falsified references.

[@derrickpatrick1206]

Solid Information & Thank You

[@nataliazakula3400]

I found this out after it was too late.

[@philipgerry5228]

This happens with deadbeats

[@maryyellen]

My in-laws rent their beach house VRBO and have had to itemize everything in the house. They said people steal EVERYTHING from nice knives to wooden spoons to garbage cans to wall art. Now there’s an itemized list with the price renters will be charged if they steal that item. Such a hassle!

[@warwagon]

oooo it was VRBO ... I thought she kept saying BRBO

[@Irene-gq4jr]

Years before I met him my ex rented out his house and came back to find it stripped bare, even of light bulbs, and fell into a hole in the dark where they had removed floorboards. Why, I have no idea.

[@ryanni4]

@@Irene-gq4jr crackheads it sounds like

[@jeepneygang]

Everyone in the comment section knows what VRBO 'cept ... Me

[@waynekerr2472]

@@jeepneygang took me awhile I think its vacation rental by owner maybe

[@robmckee5295]

I've been there. Good property management doesn't cost, it pays.

[@aldelgado9343]

Renting out homes and apartments is not fun if you get the wrong tenants

[@karenkramer3760]

You have a management co. check their credit score, evictions, criminal check and always get pay stubs. I've been doing this for 27 yrs and only got burned once. The very first time I got a renter and did it myself. Never made that mistake again

[@HermannTheGreat]

For some reason these stories always begin with "I felt I was helping them out."

[@nonawolf7495]

Every single renter I've had (total of 6) has in someway destroyed my property. Even with good references and background checks, they turn into creeps the second they decide not to renew. Had to sic a lawyer on one who did damage beyond what the security deposit would cover. Psilocybin mushrooms now de-criminalized in Denver.... I'm out!! Told my realtor to sell.

[@abigailcole8718]

As a very responsible tenant, these stories make me cringe! I'm a single woman with two kids and two dogs. I pay my rent on time every month, notify my landlord immediately if there is an issue, and if any of my beings break something, I get it fixed immediately. I keep my home clean. The payoff? My landlord loves me! We have great communication. This is business, but he has also been good to us! I cannot comprehend people that tear up their homes.

[@michaelmarquez6133]

Do you want to rent from Dave hahaha

[@nicholeknight1893]

Same! I have two dogs and a teenager. I pay my rent on time and keep my house clean

[@michaeltren4910]

@@nicholeknight1893 are you single?

[@dungeonmaster6292]

you have a misplaced modifier "as a very responsible tenant" is describing "these stories" which is not what you intended

[@corinnemcwilliams3954]

My husband suggested renting out our house for a year while we traveled but I said no way. The house we live in now I remodeled every square ft of the house, no way I'm risking renters coming in and messing it up. Even if you have insurance or they fix damages, it'll never be the same after someone else lives in it.

[@waynemiller6070]

You're right about that. NOBODY will take care of you home the way you would/do. When you rent, you have to detach a bit. lol

[@tinlidtoo6615]

I worked for a cleaning company. I was there because this lovely couple rented out their house for a year while they were in a different state for work. The house was DISGUSTING. All the walls, doors, windows were filthy and had been scribbled on by little kids. The carpets were trashed with stains. There were millions of cockroaches running everywhere. They were hanging in clusters from the blind pulls. It was gross. We did what we could but they had to have the place professionally fogged more than once. Long story short. MUCH Money and weeks before they could move back in.

[@evegreenification]

I really wish we weren’t creating so many difficult people in this society.

[@kurtstergar1042]

That's what happens when you create more people and the also trying to cram them all in one spot. Cali. L.A., SF, N.Y., NYC, INDIA etc.

[@Jdb63]

@@chrysiarose Y'all are both racist

[@SignedOff402]

Broken homes create invalidated children who feel cheated many times I have found.

[@wonderplanet343]

By electing people that PAY SINGLE WOMEN AFTER THEY HAVE BABIES we get more of them... and very confused messed up children who grow up trashing rentals. Our idiotic society... gosh.

[@NorthernWindNut]

Evictions can take forever in some areas... in California over a year in some cases. In the meantime you get no rent and the property is trashed.

[@riceball777]

This will eventually happen to all landlords and to anyone investing in rental property. so far this has happened 4 times in my life with my family rental property. Realistically $10,000 in loss rent and eviction fees and $10,000 in damages is not that bad. I once had a eviction that cost us $50,000. I'm talking everything was broken in the house. Holes in every wall, every single window broken. All cabinets and counters broken all doors broken. Investing in rental property is not easy.

[@alquinn8576]

haha, sorry about that but in my defense i was on A LOT of drugs back then!

[@Jdb63]

I just don't understand how people can do that to someone else's property

[@jayc4715]

Maybe get landlord insurance

[@MegaTeeruk]

This terrifies me. I have rental properties and God willing never go through this.

[@yonmoore]

@Shay Cake I got started by renting out part of my house to roommates, then adding a kitchen in the basement and rented it as a separate unit.

[@chrisp2481]

I have always used a property manager for this reason. No property manager has been perfect and some have been bad. But I never got left with back rent or a trashed property that the tenants didn't have to pay for.

[@kevinerosa]

Get a property manager. If you cant afford one sell the home. Landlording stinks and its a business not a lotto ticket. My dad had a saying, cheap things can be expensive. Hire professionals.

[@andy42x]

Property manager are the worst. Collect money and do minimal work.

[@kevinerosa]

@@andy42x so are Doctors, Lawyers, politicians, mechanics, etc... A negative experience you had doesnt equal the whole industry, just means you learned the hard way you picked the wrong one.

[@Locomaid]

Have had very bad experience with property managers. I agree you need a good one but they are tough to find!

[@cartonet8186]

If you buy it at the right price and are in a market where the rent is high and where there are lots of workers and jobs nearby, and know people you can already rent to, it can be a very lucrative thing.

[@sws212]

More landlord businesses are being franchised out. You're basically paying amateurs trying to make a quick buck nowadays.

[@deadcell1]

This is one of the reasons why I invest in REITs. I don't have to actively manage the properties, don't have to deal with tenants, and its very liquid. I just sit back and collect the dividends.

[@hbarudi]

So many people renting properties these days never read the rental contract and never obey anything in it. Then we see why security deposits costs that were only 1/4th of 1 month now become over 1 month in size.

[@waynemiller6070]

yup, security deposits are rarely enough to cover what has been done (or neglected)

[@terryheaton31]

I have been managing my own rental property for about ten years and made some mistakes. As Dave said you have figure out where you went wrong in the application process and correct it. There is a strong correlation between credit score and character. It is not my only screening tool but very important. How well do they follow directions is another one. Had a gentleman tell me he didn’t know his bosses last name or phone number. That is a bad sign. Learning from other people’s mistakes also helpful. I am part of a FB group of landlords. You have to remember it’s a business. The goal is to make money.

[@willelliott5052]

Sounds exactly like the situation next door to us years ago. Not only that, but they were nightmare neighbors to us.

[@fivespeed3026]

I had a rental property once and the tenants trashed it too. Broke tiles, punched holes in the walls, ripped two interior doors off the hinges, and left at least 100 pounds of broken glass scattered in the back yard, which was never mowed.

[@SoCalFreelance]

Welcome to the wonderful world of renting! People rarely consider this aspect of rental properties but it happens ALL THE TIME!

[@karenkramer3760]

It doesn't happen if you do a credit check, criminal check, eviction check and get paystubs. I've been doing this for 27 yrs. and only got burned once. When I didn't do what I just mentioned

[@monsi7641]

A property manager is a must. Landlords get a bad rap - 98% of us are not evil slum-lords. We have spent more money on our rentals than we do on our own home. We have been lucky with tenants for far but it's always a gamble. Hopefully the rentals will pay off for us in our retirement which was always the plan. Currently, we are just breaking even.

[@HangNguyen-ih8rf]

My mother is 70 and she always talk about being a landlord. We fight every time she bring it up. She think it’s easy money. Her greed is bigger than “. .” she is not even wealthy🙄

[@robmckee5295]

Two words......"professional management."

[@jesusfelix2605]

Professional management is not always the best I’ve had the worst experience with them

[@grease58]

We own a 2-family home as an investment property and, as a Realtor, I've been able to vet all of our tenants thoroughly. PLUS I listened to Dave and paid off the mortgage with most of the rental income. Now we collect two rents and have built up the multi-family account so that if we ever get bad tenants, we have a large cushion while we go through the process of getting them out. Thankfully- I am somewhat of a strict agent/landlord and it takes a LOT to rent one of my units. The payoff? NO rent increases and tenants LOVE the extra care we give to the building.

[@thomaslin1600]

Is there such thing called "Landlord Insurance" in USA? A must thing for owners in Australia. Tax deductible cost too.

[@JessicaO490Z]

I've had to buy something called renters insurance. the renter buys it. one type covers your personal property. One big building I had to pay for one that covers up to 10k in damages to the apartment as part of my rent.

[@bmasonia7634]

Smart landlords require renters to purchase renters insurance and provide proof of coverage either monthly or semi annually depending on the term.

[@cats77772001]

Insurance agent here - when a tenant rents a property, there should be 2 insurance contracts in place: 1 for the Tenant (Tenant/Renters Insurance) and 1 for the owner (Landlord/Dwelling Fire Insurance). The tenant insurance policy protects their personal property and liability exposures. The Landlord policy protects the actual building structure(s) and the owner’s liability exposures. Some Landlord policies also allow include contents coverage (in case the landlord has appliances or furniture included for use by the tenant). Hope this helps! ☺️

[@mewsiee]

Brianna Masonia POP

[@johnstown2451]

Not everyone gets sick or crashes a car; everyone loses to renters

[@lizardchase2296]

Been renters for the last seven years and rented out two different properties depending on where the job was that year. Each time the lease is up, they fight for us to stay. I thought this was standard until I met my previous neighbors. They loved to party, and because of the no-fault rule in the parking lot they would regularly hit my van before parking. Eventually between our police calls and the inspections they were kicked out. Before they did they ripped part of the carpeting, took out the cabinets in the kitchen, removed parts of the wooden floor, it was ridiculous. And that was just the parts I saw when I walked past. Landlords and Landladies ... after the additional horror stories I’ve heard since, you all are brave to keep renting out hoping for folks like my family and chancing “those” types of families.

[@OttoMatieque]

I do not hand over major assets to strangers / renting is tempting, but not worth it.

[@trumpisgod2535]

John P it’s not a asset endless you’re renting it out duh

[@Telcomvic]

I have watched the owners next door work like dogs for the last week and half to take out the trash and trashed carpets, paint, stain, etc after the last renters just left. This is exactly why I took a lower bid on mom's house to sell it, there is no way hubby and I have the energy to do all the work necessary to keep up 2 houses even if the renters aren't destructive.

[@waynemiller6070]

If the condition of the outside of the property looks comparable to the neighbors' when I drive by, it goes a long way with me. We have tenants that CERTAINLY don't live like we would live, (on the inside of the house) but let's say they've paid their rent on time for 10 years. At $1800 a month, that's $216,000. If we have to put $10,000-15,000 into it after they leave for dump fees, patching walls, replacing flooring and repainting... It's a cost of doing business. Long-term tenants are like gold. It's far better than trying to keep raising rents to try to squeeze everything you can out of the property or "upgrade" your tenants. If it takes a month to do a turnover, you've lost 1-2 month's rent and put in the time to fix it up and re-rent it.

[@khl619]

@@waynemiller6070 great points.

[@tbonez858]

This lady won’t listen..She is calling in to hear an echo chamber of her opinion and not to get advice

[@LizOB1]

I did get a feeling she was somewhat hard headed. She wasn't really listening. She was somewhat defensive. Just my guess.

[@debbiehartman7544]

Never rent to family or so called friends. Learned the hard way....

[@practicalbusinesstips5591]

It is important to have a good contract for rental properties! This in addition to vetting the tenants as much as possible is key.

[@cato451]

very common tale. the reality of owning rentals does not match the marketing materials.

[@FrostyCoug]

4:55 nice eye roll “she’s got no idea...”

[@kays3599]

Honestly. I’d just pay for it and move on. It’s my fault if I didn’t screen the tenant properly…. Lesson learned. :/

[@Montblanc1986]

You can't evict people instantly by law they always ruin the units and run away

[@NorthernWindNut]

I've seen too many eviction horror story videos on KZbin to ever rent property. If you're going to invest in property flipping and selling is the way to go.

[@matthewwilliams9200]

There's another great point to be made about this caller, because they did things properly in order they were out of debt had a good size emergency fund and didn't fund the property with debt they weren't in a horrible situation even though it cost them over $10,000 in Damages and $10,000 in lawyer fees. Essentially their emergency was more of a speed bump because they're planning was good. If you were to think what situation they would be in if they were in debt and had no emergency fund and was trying to pay their way through the banks for everything it may have put them into bankruptcy

[@longranger5226]

This conversation has been helpful. I had a similar situation, and it cost more than $10K to rectify and fix the property. The pets were part of the problem. The drug addicts were the rest.

[@JewelBlueIbanez]

The people living the in the suite across from me were evicted for domestic violence and causing frequent disturbances in the building. It was a really nice two level three bedroom apartment. They completely trashed the place. They burned up the flooring, disgustingly dirty, stained carpet, huge holes smashed into the walls, broken kitchen cabinets. It’s just nasty. The landlord had to completely gut the place and it’s no where near close to being rentable, which is unfortunate because it’s a big loss on rent. That being said, he doesn’t do any background checks or and reference checks. Doesn’t even confirm finances. Nothing.

[@iamdavid420]

Only someone who would wreck a rental would dislike this video

[@strokerace4765]

If you are a landlord you should know how to get eviction done.

[@jeanqbxx]

Landlording isn't that easy, you need to educate yourself.

[@PrimalCircus]

I expected Dave to say, “This is why you have an emergency fund.”

[@chieftp]

I have a rental property. my first and last. it's almost paid off, but there's just no money in it. there's always something to spend money on.

[@jnis17]

*almost paid off* that's why you're not making money.

[@jayc4715]

But..Everything you spend money is tax deductable

[@serioushamster]

They key is too have a few goons on your payroll.

[@jdi5909]

Some tag-bangers. They’ll vandalize their property and shoot them as well 👍

[@jayc4715]

Goons can and will turn on you tho

[@archangele1]

True, but you have to pay them well enough to make it worth their while. The other problem is that you can not get blood out of a turnip. The goons can threaten and such, but if the renters have nothing, what are you going to get if you sue them or if you lean on them with the goons.

[@vidguy007]

VRBO? Vacation Rental by Owner? Air BNB? A great time to explain this was missed.

[@matthews1951]

Thanks I was curious

[@annwilliams6438]

Just Traveling Thx for explanation.

[@SomeBuddy777]

Thank you. I was guessing, as I had not heard VRBO before. AirBnB, but not the VRBO. *Olde Skule here, I'm not up to warp speed in new technology or terminology yet.

[@tuckerspeltz6423]

4 words of advice: GET A PROPERTY MANAGER.

[@tuckerspeltz6423]

deadend 😎🤪

[@strokerace4765]

Tucker Speltz absolutely not. They take all the profits and you get a 1099 on income from rental

[@EmpireTextbooks]

Tucker Speltz that’s three words and a letter

[@wittyusername9544]

Four words... MANAGE WHAT YOU BOUGHT WITH YOUR HARD EARNED MONEY AND MAKE SURE NO ONE CAN TAKE THAT FROM YOU.

[@LG123ABC]

Unfortunately, there are a lot of people that are too cheap to hire a professional. I wonder if they perform their own dentistry as well?

[@drticktock4011]

This is why I'm scared of real estate

[@lauragallardo6629]

I help manage 30 rental houses. Paperwork is super important

[@brandonmartinez4142]

Any tips? thinking about owning and generating passive income seeing as how my parents have done it. Any legal websites you go to or examples of contracts you to help a starter out. Thanks in advance and impressive that you manage 30 :0

[@user-tb8fh3wl6i]

Brandon Martinez What I’ve learned from someone with rentals. 1) His attorney advised him to give unruly tenants incentive to leave-$800 to leave by a certain date. Attorney says it’s cheaper than going through the eviction process, attorney fees etc. This also delays getting contractors in and new tenants. Plus they can avoid an eviction on their report. Yes, Insane to reward their bad behavior but it seems to work. 2) Don’t develop friendships with tenants. 3) Strict credit and background checks 4) Offered management position to a trust worthy tenant couple to manage his properties. Husband is a contractor by day and wife is an accountant (he lucked out on this couple.) They manage 2-Four Plex’s. He moved them to a larger unit at a significantly reduced rate. They kept their FT jobs and managed his units on the side. The couple did such a great job, he then offered them free rent. Then later moved them to a beautiful two story house he owns. They deal with all the headaches and he has no contact w/any of the tenants. They meet 1x mo for updates. Lesson-Take good care of good employees and good tenants. Best to you!

[@thomasmorrison3279]

Harrisburg, PA is a terrible area. Nobody would rent by VRBO. I use to live close to there in York, PA. I would try to fix and sell or rent to a long term renter.

[@markg999]

Eviction process can cost big money also. I had two good young renters for my house..gotta just trust your instincts on people and some due diligence. I charged more for pets like $25 a month for a dog...agree no cats only a dog and would always prefer the no pet person over the pet renter. The problem being a landlord is dreading any text for issues and repairs. Selling now my rental will be nice to knock out 97k in debt...just my personal mortgage and debt free..

[@SF-eo6xf]

I will never evict someone the legal way. Get 2 big boys from the hells angels to knock on the door. Much more efficient

[@skmetal7]

Why not cats? Aren't you worried that dogs will chew and scratch up floors and woodwork?

[@Vydio]

@@skmetal7 Cats have one advantage over dogs ..... have yet to see a domestic cat maul someone to death.

[@yankeefrugal]

The only reason for cat smell is because of an irresponsible owner. Has nothing to do with the cat or cats. Same thing for dogs. I allow pets and have never had issues because of the quality of the tenants.

[@karinaramirez5331]

Cats spray.. how do u get that smell out

[@prepordietryin9119]

He said "rip the paint off the walls" lol

[@SomeBuddy777]

IKR? But if the grit, grime, grease, and gunk are that thick, that's what you have to do. And sometimes with a crowbar!

[@mycupoverflows7811]

Ugh. This is why we haven't gotten into rental properties. Too much $$$ fixing up people's mess.

[@jcrowley1985]

we need to repeal the legal eviction process and allow landlords to do self-evictions. Tenants would be more respectful of others property if they could be locked out one day after work for trashing the place or not paying rent.

[@connormathias5779]

jcrowley1985 Don’t you think doing so would create an environment where bad actors could take advantage of renters?

[@knpstrr]

A lease is a "living document" needs constant revision to protect the landlord and their property. Further I don't think these people had proper "rental reserves". Legal fees shouldn't have drained their rental account.

[@AntonioMartinez-xz3pt]

Please elaborate, and thank you for explaining this

[@lizziemartin6113]

You rent to people with good references from where they lived before. You can't try to make money while "helping" someone out..simple as that. Either make money or be a charity..pick one. And I'm not saying helping people is bad...but if that's what you are doing don't complain afterwards about it!

[@shanescrimshire8395]

Lizzie Martin been there, done that. I had "Professional renters" with fake references. They paid first month, deposit and not another cent for 3 months. Eviction fees were going to cost over $1000. If I had not found a clever way to make them want to leave, they could have stayed in the home rent free for up to 7months...because they had kids.

[@cherokeefit4248]

The lady below me that has no job and is living off baby bonus and welfare asked me to rent my place out to her friend that has three kids. She said her friend can’t pay the usual rent fees in my city but it won’t be much less Ahhaha yeah. Like that’s going to happen.

[@autohelix]

I would never rent to anyone. I don't trust people.

[@rmel3798]

Join a local landlord's rental association with monthly meetings

[@duallinguallady-aishaahmed1812]

LOL, “no pet roaches!”

[@spencersmith312]

Insurance should cover vandalism, which is basically what happened here. She should have just paid the deductible instead of the $10,000 to fix it up herself.

[@dalepak1955]

My realtor charges 1 month rent to do all the leg work to find good tenants. I believe our contracts makes certain guarantees. Another way to go without a property manager.

[@johnd2311]

Love you and your ideas Dave!

[@mrjv750li]

Is this lady exaggerating? Might as well say it caught on fire and a tornado destroyed it !

[@Locomaid]

No exaggeration. I have seen some incredible destruction.

[@strokerace4765]

I am a Landlord, using a lawyer for evictions is ridiculous

[@bkucenski]

Probably depends on the rental market you're in when it comes to pets. I've found that tenants tell you they have pets or don't tell you they have pets. For my current property, I didn't concern myself with small pets if they took out a two year lease. After two years, I don't expect much of the flooring and it's not much to replace. I consider replacing the carpet every two years a cost of doing business. And always hire a professional property manager. They know how to vet tenants, they know how to evict them, etc etc. As long as it's just patch, paint and carpet, it's fine. Professional cleaners don't cost much. If you're renting high quality homes, I can understand the strict rules and strict enforcement. If you're competing with apartments, not so much. The property should be appreciating in value and the principal balance should be going down, plus tax benefits, it's hard to lose.

[@paulmoore7064]

I gave up on carpeting. Vinyl plank flooring is easier to put in, easier to clean, and lasts longer.

[@Azel247]

Vancouver is no longer allowing landlords to ban pets

[@deanalbertson7203]

This is a nightmare story, and clearly shows the negatives of owning rental property. It just made me decide to not buy my first rental property.

[@commonenglishmistakes4360]

There needs to be a full database of tenants and landlords with ratings, photos and everything so that finally only good tenants rent from good landlords and bad tenants can only get a home with bad landlords.

[@mouwlylee5014]

I rent my house 🏡 for 13 years and have no problems!

[@ashleyzych5366]

People always ask me if I married someone who also owns a home and if I would rent one. Nope. I don’t want the hassle!

[@elonmusk8667]

She needs to repair the rental and sell it.

[@---cr8nw]

Yep. She doesn't know what she's doing. And she doesn't know how to listen. DR: "Call some VRBO owners in your area to ask about their occupancy levels." Caller: "I've looked at their reviews. People have stayed in them." If she can't listen to what Dave is saying when she called him for advice, she's missing every single red flag that her potential renters are throwing out.

[@wonderplanet343]

Great advice everyone! Thanks.. Dave is very careful and shows the easiest ways to success.. despite being old fashioned :)

[@terrao4971]

I’ve always had dogs/cats and never have they ever destroyed anything. I don’t understand what some people’s animals do?! In the rentals I’ve seen, it’s always the human tenants that mess them up horribly. Usually involves hard drugs or severe mental illness.

[@rodrigosanroman5858]

Animals nails mess up and wear and tear floor bored, carpet, and scratch up tile. They chew and stain the base boards. Humans feet wear these down too but animal nails will kill them fast. Basically floor life/ baseboard life is reduced dramatically. For some reason they jump up and scratch up glass doors making them unrepairable and tend to scratch up window screens. Some will scratch up walls too but that's a simple paint job. You must file you dogs nails or you'd see these problems in your own house,.

[@Kysen10]

This is why I'd never rent a home out. Can't deal with this nonsense.

[@omaxman1]

My worst nightmare. I never allow pets on new leases. Period

[@andreyv1]

omaxman1 Americans love their pets and sooo many have them. It’d be hard to find someone who doesn’t I’d imagine.

[@omaxman1]

@@andreyv1 it's definitely harder but it's worth it. One time I remodel a house after dog pet- had to rip out sub floor.

[@bcrwc]

Most people with pets I know are never allowed in the lease they just hide it from the landlord

[@SR98889]

I’m not sure how it works in the US, but in Ontario Canada we aren’t allowed to deny pets in rentals. It’s absolutely ridiculous.

[@starcrossedgirl23]

@@SR98889 since August it's also illegal in Belgium to deny people based on that too. Infringement on human rights and all that.

[@PantherGeek7]

I CAN'T STAND people who think it's OK to trash someone else's property. If I've been given the PRIVILEGE to enjoy someone else's property, whether free or paid, then I try to return it in better condition than when I first received it. It's a bummer that most individual landlords don't allow pets because I believe that contributes to the homeless animal problem we have. If people learned to respect other people's property a little more, then maybe more landlords would be willing to allow pets.

[@tinlidtoo6615]

I hired a property management company and they turned out to be terrible despite getting their name from my insurance agent. They didnt "catch" the tenants had a dog.. ( no pets allowed) and had installed a high price security system ( yes, we think they were selling drugs from the property) which involved drilling multiple holes in walls inside and out and sticking things to all the doors and windows. The company did one annual inspection. My advice would be to go with your agent for the inspection, or send someone you trust, and as Dave said inspect every quarter, at least for the first year.

[@dmoney8373]

I used to be in the business. For every one slumlord that I met I came across 250 renters I wouldn’t let stay in my doghouse.

[@vaderwashere365]

100% agree. We have always had standards as landlords. We keep our rent just below the market average so we can pick our tenants. We have not had to rent to anyone with a credit/FICO score below 730. Thus, we have been renting for 10 years and haven't had any issues with move-in or move-out. We don't have to allow pets or any other accommodations, because we are the owners and we set the rules. We also keep all repairs professional and prompt, so we have never had a bad experience and our tenants appreciate it. It also helps that the home is in Seattle where there is always demand... but why would you have investment property in a neighborhood without demand?

[@manuelocasiojr69]

No per. I never let tenant have pers.

[@celluar438]

I lost it at pet roaches 😂😂😂

[@randylee81]

why can't renters just take care of the property they are renting?

[@dericanslum1696]

...hopelessness and no pride of ownership...

[@regul8or71]

Because people are irresponsible and selfish (among other reasons).

[@purpletree8965]

Because renters don't give dam

[@raquelj2002]

People with no respect for others will never have anything in life. When I was a kid times were bad for my family and we rented for years. But you best believe that we took care of other's homes as if it were our own---it's called pride and self respect. Dad had was a veteran and you better not even walk on grass unless it was your own yard or if you were at school or a park somewhere. I have been on both sides, renter and homeowner, and will attest to the fact that what you send out to others will come back and sit at your doorstep many times. Some people will never have anything nice for this same reason, and if you don't keep your guard up they will try to make sure that you don't have anything either.

[@matthewwilliams9200]

when your land lording you are a business. separate the job from your personal life

[@aplacetobewithmythoughts7428]

matthew williams exactly. Most landlords think they’re doing someone a favour of “renting their home” , despite it being a business transaction with contracts and monthly payments. If you’re overly concerned with the rental going down in value DON’T rent it out. I swear these people think they’ll just get $1,000 profit every month and won’t have to do any work.

[@perro7183]

This is why I let my 2nd home sit empty in the off season. A few grand profit just isn't worth it

[@RhinoXpress]

Always check the criminal history, credit history of the tenants first and foremost. then put clauses in place like dave said so that your home won't get trashed while renting it.

[@jimimaru]

This is why I rather invest in stocks... I can just put in money and sit back and wait for it to (hopefully) grow and not having to deal with any people whatsoever.

[@keithfreitas2983]

All my renters have to have $250k renter's insurance plus monthly pet fees. Have had Section 8 renters who qualified. I never managed my properties except my first. Have always used Property Managers. It's a business and everything is a tax writeoff. You are helping people have a place to live and supporting your family at the same time.

[@johnthicks8568]

Bachelorette weekend 😆

[@adambuysyuckyhouses]

Get Property Management!!!!!

[@jayc4715]

Most are hacks that charge to do nothing

[@jayc4715]

@dan cussin too late

[@jonathanhankins8356]

I have ZERO sympathy for people who are too cheap to hire a property manager... they get exactly what they deserve. Being cheap COSTS you money.

[@KnockoutInvesting]

Tenet background check is NO. 1 Most important thing to do.

[@johnturner8791]

Federal laws allows companion pets if the tenant gets a letter from a health professional stating that it would help their condition. It can even be from a nurse or a social worker. You must then accept the pet, and cannot charge any additional deposit. HUD enforces this law vigorously. Better to be flexible up front and rent to a responsible pet owner.

[@josieschmo4172]

I agree, no pets is a very helpful guideline.