U guys r a bunch of powerless landlords.

Atlanta, Georgia

General Landlording & Rental Properties

U guys r a bunch of powerless landlords.

Rental Property Investor · Member since 2019 · 66 posts · 24 votes

When i ask for advice for what tp dp with a tenant who skipped out on rent, i get the same bull. You know why? Because were all a bunch of powerless landlords. Here what people say:

it costs too much for an attorney to be worth it, try to go to small claims, just move on, u should have picked a better tenant, next time make a stronger lease.

well to hell with yall and this dumb advise because everyone of us knpws we cant do jack.

if u win in small claims, u gotta go collect. Well mpst of u tried that. Garnishing wont work if they change jobs or u dont know where they work in the first place.

just moved on n pick a better tenant? Kiss my ***, some tenants r good but they leave without notice anyways cuz life happened.

stronger lease? Kiss my *** again. Whats that gonna do?

you knpw what im gonna do from now on? Im gpnna stop being nice, and charge everybody an arm and leg to mpve in so i get higher quality tenants. Charge them $250 nonrefundable pet fees, make them pay for landscaping and pest control and take their security deposit for every little thing they do.

cuz im sick of landlords getting effed all the time. Tell me im wrong. Tell me not one of u has seen a damn dime from winning at small claims.

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Joe VilleneuvePro Member

Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes

Give me a minute to stop laughing.

No make that an hour. This post was one of the funniest I've read yet. Thanks Josh...you made my ~~day~~, ~~week~~, ...probably year.
I haven't heard so much whining since I coached my daughter's volleyball team,...and that whining also came from the (what I assumed were) adults.

See this reply in the discussion

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Your problems are not my problems. I'm managing 400 rentals and I only had to evict one tenant through the court system in the last ten years.

Collections sucks? That's true. But if you act professionally and nip problems in the bud quickly, your losses will be small and it won't matter. If you let a bad tenant linger and rack up $10,000+ in losses, then it's going to hurt more.

You don't have to be a jerk or slumlord to make money. I treat my tenants honestly and fairly and without the attitude. It seems to work very well.
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Jay ThomasPro Member
Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
3y
When it comes to landlording, there's no such thing as a guaranteed success story. Real estate is an ever-changing industry, and there are always risks involved when you invest in property. As a landlord, your aim should be to minimize your losses as much as possible and not take them too personally if things don't go according to plan. It's easy to get frustrated and discouraged when setbacks occur, but don't let them take away your joy in the process. Real estate investments may be unpredictable, but with a bit of perseverance and a positive outlook, you can still come out on top. Don't give up!

Making a profit in real estate is definitely possible, it just takes time and effort. Keep working hard, stay focused on your goals, and don't let the losses get you down. With the right approach, landlording can be an incredibly rewarding experience. Good luck!

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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
3y
Quote from @Account Closed:

Let me guess. The OP has invested in "cash flow" following the "2% rule" in dead end cities. Now you know what risk/reward equations mean.
Using the 2% alone was the first mistake.
2 Reply
Greg M.
Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
3y
Quote from @Steve K.:

Send'em to a collections agency. They take a high percentage but a low percentage of something is better than nothing. Totally worth it. I've had bum tenants pay up several times just by notifying them that the next step is me contacting a collections agency.

I have no idea why the landlords on this forum are so adverse to going after deadbeats. If you listen to the average poster here, you'd think that there was a near zero chance of getting any money from a deadbeat and you're going to waste 100 hours trying. Yet, there is an entire industry dedicated to going after deadbeats and collecting and your total amount of time can be 2 hours including court.

4 Reply
Ronald RohdePro Member
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
3y
exit residential. Buy commercial.
Lock the doors on those tenants. Auction their stuff. Commercial landlords have power.
2 Reply
Will Fraser
Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
3y
Keep going, dude! I've been there (more recently than I care to remember) and IF you put your nose to the grindstone and are honest with yourself about the problems you can build solutions.
The cycle of suck is real in property management and there are ways to break that cycle, yet most landlords exist in the cycle until they tap out and invest in "easier stuff".
It's alright to tap out . . . that's an honest thing to do when it's done with eyes wide open. YET if you work at it you can build a business you don't hate.
Get after it!
1 Reply
Steve K.
Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
3y
Quote from @Greg M.:

Quote from @Steve K.:

Send'em to a collections agency. They take a high percentage but a low percentage of something is better than nothing. Totally worth it. I've had bum tenants pay up several times just by notifying them that the next step is me contacting a collections agency.

I have no idea why the landlords on this forum are so adverse to going after deadbeats. If you listen to the average poster here, you'd think that there was a near zero chance of getting any money from a deadbeat and you're going to waste 100 hours trying. Yet, there is an entire industry dedicated to going after deadbeats and collecting and your total amount of time can be 2 hours including court.

Agreed. I find that as soon as the proper notices are delivered via certified mail and taped to the door, and words like judgement, eviction, wage garnishment, collections, ability to rent again with an eviction on the record, "company policy that we don't deviate from ever" etc. come into the polite, professional conversation, they find the money.
1 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
3y
And the sky is blue--Collect the rent.
Renters are "the Poor" (not the poorest--but they are "the Poor")...(and how many houses do you own???).
Right or wrong it seems lawmakers look that and try to level the playing field.
And the sky is blue--Collect the rent.
Most rental contracts do not end up in court--vet your renters better.
And the sky is blue--Collect the rent.

Good Luck!
1 Reply
Mark F.
Rental Property Investor · Northern NJ · Member since 2019 · 673 posts · 677 votes
3y
Quote from @Greg M.:

Quote from @Steve K.:

Send'em to a collections agency. They take a high percentage but a low percentage of something is better than nothing. Totally worth it. I've had bum tenants pay up several times just by notifying them that the next step is me contacting a collections agency.

I have no idea why the landlords on this forum are so adverse to going after deadbeats. If you listen to the average poster here, you'd think that there was a near zero chance of getting any money from a deadbeat and you're going to waste 100 hours trying. Yet, there is an entire industry dedicated to going after deadbeats and collecting and your total amount of time can be 2 hours including court.

Everytime I say this on the BP fb group I get attacked. As if I'm spending every waking hour of my life hunting this person down for a dollar fitty. The court system isn't that difficult and like you said, it's just an appearance then send their info to collections. I even heard Brandon Turner I think say how they did that with a contractor and years later the guy paid as he wanted a new car or something. Not rocket science and can absolutely pay you back.
4 Reply
Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
3y
@Joshua Ocean interesting rant, probably true for a lot of DIY landlords.
[email protected]248-209-6824
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Joe S.Pro Member
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
3y
Are you going to come back on here and set everybody straight?? Lol

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Nathan FaseltBusiness Member
Rental Property Investor · Iowa City, IA · Member since 2019 · 94 posts · 35 votes
3y
I've found a lot of helpful information on this forum, and many of the comments here are spot on. However, I believe the effectiveness of collecting debts and delinquent payments depends on the area/state you're in and various other factors mentioned by others. as well as strategies to lesson the likelihood of this happening and how to get the money once it dose.

If you end up having a successful strategy for tracking down money owed, I'd love to know your secrets and hear about your success rate. There are many BP users who could benefit from your expertise and would be willing to refer you their claims. You could potentially collect hundreds of thousands of dollars and take a 50% cut from my friends alone. It could be a lucrative side business for you, as it's clear that many landlords simply turn a blind eye and move on. The opportunity is definitely there if you can figure it out.
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Ronald RohdePro Member
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
3y
Quote from @Nathan Faselt:

I've found a lot of helpful information on this forum, and many of the comments here are spot on. However, I believe the effectiveness of collecting debts and delinquent payments depends on the area/state you're in and various other factors mentioned by others. as well as strategies to lesson the likelihood of this happening and how to get the money once it dose.

If you end up having a successful strategy for tracking down money owed, I'd love to know your secrets and hear about your success rate. There are many BP users who could benefit from your expertise and would be willing to refer you their claims. You could potentially collect hundreds of thousands of dollars and take a 50% cut from my friends alone. It could be a lucrative side business for you, as it's clear that many landlords simply turn a blind eye and move on. The opportunity is definitely there if you can figure it out.

BP is definitely helpful!
Just want to clarify your comment, monetary collection from residential tenants are low odds in every state. Regaining possession does vary from state to state or even county to county.
1 Reply
Ned J.Pro Member
Investor · Manteca, CA · Member since 2017 · 1k+ posts · 2k+ votes
3y
My suggestions.... don't own or run ANY business.
This is what owning/running a business is..... its hard work with lots of frustrations that you either deal with or move on
Not everyone is cut out to be a business owner
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