Being a Landlord
As a reluctant landlord, I really have other things to do. I’d rather watch Fred Mertz than be Fred Mertz. Fred, of course, had the world’s greatest tenants, Lucy and Ricky.
There are problems which come up dealing with tenants, for instance, ‘What if a student tenant wants to switch with another student?’ or ‘What do I do if my student loan for rent doesn’t cover the cost of the rent?’
I suppose the most disturbing call I had, really had, just a few months ago was a call from a tenant who said, ‘The building is on fire.’ No kidding. I thought at first he was joking, but sure enough, I could barely get down to see the unit for all the fire trucks.
I had major questions on my mind, ‘Would I have to rent him a hotel?’ The rent doesn’t even cover the cost of the mortgage or Secured Loans, and sure enough, he’s behind on his rent, as usual. So, good grief, it’s not like I want to go out and get a part time job to rent him a hotel, where’s the money supposed to come from? If my house burned down, the bank wouldn’t rent me a hotel. And what about his stuff? Do I have to replace his top of the line plasma TV? After all, that rent money had to go somewhere.
Here’s a news article if you want more landlord questions.
Written by Serendipity - 2/21/2008