I have backed off - Posted by corine
Posted by corine on July 09, 2008 at 05:38:56:
six short months isn’t the end of the world. Six hundred dollars,I don’t care. I just want peace. Penny said it best, my time is my most precious commodity. This is taking too much time and taking me off the important things…moving forward.
So what’s the lesson? In my three years of land lording, have leased out probably 25 homes for myself and others. I have long term tenants, 3+ years. I’m doing something right. Anyway, the only two rent increases I’ve ever sent out, this horror being one, and the other here in Myrtle B. resulted in their moving out. And the later wasn’t a rent increase, it was asking them to renew a year lease. Back in January they reduced the rent on me…drove around and found they could get similar for a bit cheaper. Because it was January in a resort town, I reduced the rent and we were month to month. In may everything heated up again and I asked them to return to the original terms of the lease and renew for a year.
They left and I spend 5 days last week cleaning the place. They had a very smelly dog. How people allow themselves to live is beyond me.
Am I doing any of this because I like it? H-- no. But I haven’t found anyone yet to give me a free ride in life. I got caught up in the owning rentals frenzy for 2002 in So Cal, and here I am. Made my bed and am dealing with it.
Though it can be tough right now, I would still do it all over again. I purchased high, which I’m not proud of, but my strategy (default) has always been buy and hold with good mortgages.
Though I purchased high and now I could clean up, the mortgages and favorable terms would not be here for me today. I have good credit, but am stated income.
I have my faults with this gal in Cal. I’m allot of things…emotional, knee jerk, lack of business wisdom (at this time, but getting better every day) but I do have a good sense of right and wrong and will admit when I’m off.
The slow drip in the drain and damage to the hardwood floor was happening over months and months. It’s a 1000 sq ft condo and would be almost impossible to not notice. I don’t believe for one minute that she didn’t pull the couch away from the wall in 1.5 years. That’s BS.
She’s unstable…a “victim” in life and I knew that from the beginning. That’s my fault. And like Penny says, I’m firing her by not renewing her lease. If she needs to feel like she’s won something, who cares. I just want peace.