but maybe I just have the personality to be a landlord… I haven’t found it difficult. I make repairs, I visit my properties and I encourage my tenants to take pride in ownership by encouraging them for example, to call me if they need the carpet cleaned. I have since started carpet cleaning at every lease renewal. Same thing with lawns, its better for me to hire a lawn company, then I know it’s done, neat and orderly, and it has inspired at least two tenants to plant their own flower beds.
Changed the locks and touched up the paint and listed it again. I found the PERFECT couple to rent it. Then my dad started losing his house, so I told him to sell it and move into my rental. I was so sad about not renewing their lease, but gave them 2 months notice (instead of the 30-day required) and they found another place and didn’t want to pay for the last month of their lease. So I kind of got mad about that, since I was trying to be nice and give them plenty of time to get out. So again, we sat down and talked and split it. My dad moved in early and paid the remainder of the month, so that worked out ok for me after all.
The “perfect tentants” were planning on renting for the long haul. So they “made it their home” by painting all of the walls. Some pretty bizarre, and some not so bizarre! There was a big, black tree painted in the MBR and the kitchen cabinets were black and the kitchen walls were yellow and red trim (looked like a fast food joint) and the (already small) bathroom was blood red and black!! So during the final walk-thru, I was silent. My husband later said he couldn’t believe that I kept my mouth shut!! It was only because I didn’t have words in my vocabulary for that!!
Talked to Dad to determine what he could live with and what he couldn’t. I found a shower curtain with a playing card on it that kind of made the bathroom look less like a dungeon (who knows, it might have been theirs? Found it at Goodwill for $1!) and he enjoyed it. He did like the living room color but that was it. He and I agreed if I bought the paint, he would roll it on. I took the actual cost of paint (sent them a copy of the receipt) out of the deposit. He painted the kitchen blue and covered the tree in the bedroom and did some other “subtle” cover-ups before he moved in.
He is doing well in the house. He has set up auto pay for the rent and since he’s my dad… it’s pretty safe bet that he’s going to take care of the house. All that having been said: we have decided to sell it whenever it is available to sell again. I’m not sure how people make money on rent. Granted, I still have a payment, and I don’t charge enough. But even if I paid $68k cash for the house and renovations, and charged $680/month (which I’d never be able to get in this town), it would be over 8 years before I saw a profit, even if I never had to put another penny into it and it never sat empty. Not to mention taxes and insurance, which keep going up (and landlord insurance is higher than homeowner insurance).