How has becoming a landlord changed you?

[Nick Rutkowski]

Hello my favorite community! How has becoming a landlord changed you? This is my first year being a landlord. I have to say, being a landlord has changed my life and how I look at others. I’ve learned very quickly that people will step all over you if you don’t take a stand. Also, I’ve become more selective with people I bring into my properties and into my life. I’ve had to evict people and that made me a little less tolerant of people’s BS. Just to name a few examples. Looking back when I first researched REI I was naive, I had no clue what I was in for. Now, I get what the veterans are saying a little bit more. I’m only scratching the surface and I can’t wait to share my experiences with you all.

[Thomas S.]

No change. I had a back ground in dealing with "people" and went in with eyes wide open. Most new investors rarely consider the consequences of actually having to work with people and will not even bother learning their state landlord tenant regulations prior to investing. New landlords do not understand that their number one priority is in training their tenants. Tenants are like a new puppy. If you do not teach, and punish when necessary, they will not understand what is right and wrong.

Tenants on the other hand rarely view a landlord as a person.

People can be extremely naïve when it comes to considering the responsibilities of being a landlord and do not understand that landlords are resented by most tenants. Compassion and emotions related to dealing with tenants is only a path to failure. New landlords believe respect is a two way street, unfortunately too many tenants do not see it that way. 

If a new landlord is not changed by the experience they likely will not survive.