What Was the Biggest Lesson You Learned As a First Time Landlord?

[James Carr]

Title says it all. Curious to hear what the lessons you all learned after your first year of landlording.

[Greg M.]

1) Better to have a vacant unit than a bad tenant. A vacant unit will rent soon enough. A bad tenant will not leave soon enough. 

2) Enforce your lease. Be fair, caring, and understanding, but be firm.

3) Everyone has a pet. Accept pets and price it into the lease and security deposit. Otherwise the pet magically appears as an ESA.

4) The answer is 'no' and it is not debatable. My place, my rules, and you are free to leave at any time if you don't like that.

5) Put EVERYTHING in the lease. No matter how dumb you think it is, there is someone that dumb out there. 

6) Children are demons that will destroy the place. Similar to sex offender registries, we need child registries that details their bad behavior.