The girls who were robbed before Christmas called us yesterday. They would like to break their lease and move out. They don't feel safe now and want to leave. I can surely understand the sentiment, but it isn't easy to find renters in the middle of winter up here. They're responsible for up to three months if we're not able to rent it, but if history is any indicator, it will be rented in less than a month. Today I'll have to post ads and pictures and show the apartment the rest of the week to prospective tenants. Sigh, there's always something when you're a landlord.
Serge and I fantasize about going back to being renters. Life was so carefree then (But could we have appreciated that fact? No, no we couldn't). If something went wrong, all we had to do was call the landlord. Of course our attitude toward the landlords was that they were evil, greedy bastards, always raising rents and never fixing things in a timely manner. I feel bad about that now that I know what it's like on this side of the fence. A picnic, it is not.
I hate how everyone thinks you're rich if you're a landlord. Ha! 85% of landlords up here are like us, small potatoes, handling 3-7 units. Working toward having some kind of stable income at retirement age when the building(s) are paid off. I just keep telling myself to keep my eye on the prize. I'll be telling myself that for the next twenty years too.
14 comments:
It's good that you two were renters. It makes you good landlords. It's important to understand how your feelings change if you get robbed. It's tough to write more than four sentences that start with 'it'.
It's always enlightening when you see how things are on the other side of a situation, isn't it?
The "lesson" of your post could be generalized in relation to the old adage to "walk a mile in my shoes". I think we would all be better people if we could put ourselves in the place of others (in particular, our antagonists) and learn how life looks from their perspectives.
We are all human. If you became renters again just how long would it be before you were complaining and wishing you were in charge again? It will be worth it all when you retire. Ed
hell, i fantasize about renting again, too. when something breaks, cha ching!
i think nd proved that you guys are great landlords.
see how i brought nd into 2008? :)
I have never been a landlord, but just being a homeowner made me appreciate my return to renting.
Very astute observation, and very insightful.
Your story is a microcosm for domestic politics.
It's not so easy being the "rich" guy. Is it?
Hey, how did you get into landlording, anyway? Did you buy a multi-plex or a few condos? Do you live on-site?
I don't envy you guys. But I do envy your renters....they have fair and justice-minded landlords. Man, are they lucky.
Oh those poor girls. They are still young enough to not notice how random it all is.
Ed's comment made me laugh. Yes, there is always someone to demonize...
Your renters are luckier than they realise. They have justice-minded, good guys as landlords. Those girls are making a mistake by moving, I think.
I know exactly what you mean! Spouse & I are landlords too, which makes some of our friends think we're rich. I tell them in a joking way (although it is 100% true) that we aren't rich, we simply have a high tolerance for risk.
We have 2 properties up for renewal in Feb and we expected both to renew for a year. One wanted a 6-month lease and the other wanted a 9-month lease. Both claim they may be transferred out of the area with their jobs. Being a landlord means having your money tied up for years and years, and being at the discretion of fickle renters.
Mark :-)
I'm with Cooper. Break-ins are even commonplace in the suburbs. More important that they have good and understanding landlords in a cleam building, I think.
Hmm.. never thought about moving up there, but what's the rent? You're next door right? You guys give tenants "extra benefits"?
LOL
if I were moving up that way I would rent from you in a split second!
-C
I envy you. I'd wish that one of our tenants would break their lease. But they won't, because I'm a good landlord and their paying half the going rate of their appartment. But rebnt control is strict here and I can only raise the rent marginally every year...
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