Tenant Next Door that Broke the Camel's Back.

General Landlording & Rental Properties
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Tenant Next Door that Broke the Camel's Back.

Dante Nava
Real Estate Investor · Cary, NC · Member since 2014 · 79 posts · 11 votes

Some of you have, or do, live(d) next door to your tenants. What are your top 3 con's from that experience or at least 1 thing you might not have thought of that would have been an issue.

I'm working on copy for a multiplex (2-4), owner occupied, direct mail campaign and would appreciate the help. Maybe you were super glad you got out of there because....? Thanks!

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Brie SchmidtBusiness Member
Moderator
Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
12y

We lived in a Triplex with tenants for about 2 years. Really, it wasn't bad. We had amazing tenants and often did Sunday BBQ's with them. The only downfall was trying to keep marital spats to "inside voices"

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  • Dante Nava
    OP
    Real Estate Investor · Cary, NC · Member since 2014 · 79 posts · 11 votes
    12y

    So no one has had a bad experience with living next door to your tenant?!

    0Reply
  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    12y

    We lived in a Triplex with tenants for about 2 years. Really, it wasn't bad. We had amazing tenants and often did Sunday BBQ's with them. The only downfall was trying to keep marital spats to "inside voices"

    Podcast Guest on Show #132
    Second City Real Estate4.821 Reviews
    WebsiteView Page
    1Reply
  • Abel Vazquez
    Chino, CA · Member since 2013 · 62 posts · 7 votes
    12y

    Hello @Dante Nava I don't have any con's but I think if you are going to have con's only if you don't implement your rules properly. I think when following that key rule it should be a good experience. Hope it helps.

    Abel

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  • William Edmondson
    Real Estate Investor · Atlanta, GA · Member since 2013 · 23 posts · 8 votes
    12y

    Dante,

    I just bought my triplex this past December and inherited a tenant that I lived next door to for 2 months before I evicted him for non-payment. Here is my experience:

    I am very sociable and outgoing, He was very friendly, almost too friendly. I built a good relationship with him and he kept his place extremely clean, however as the weeks passed after I got ownership, he just never paid the rent. He kept saying he was going to pay this weekend, pay next Monday, etc. Never came. Pretty soon I just had to evict him and get him out, finally just found a new tenant but I lost two months rent because I was trying to be nice and let him catch up.

    Lesson learned: Be understanding and friendly to these people but know you're running a business and the rent comes first before your friendship to them. You have bills to pay just like they do.

    1Reply
  • Kyle Hipp
    Investor · Appleton, WI · Member since 2012 · 1k+ posts · 464 votes
    12y

    I lived in the lower of a duplex that I owned and rented out the upstairs. The issues that we had were manageable. We had a 2.5 car garage that the upstairs tenants had access to park on one side but I kept most of it for my tools and storage. The tenant could put a bike or some small outdoor stuff but not a lot. Once a tenant moved all her dad's stuff into the garage but we took care of that quickly.

    We did have to make sure to be respectful of our noise levels especially during morning or evening hours. As we moved into our single family home last year we don't really have to worry about it. We did get bothered with some noises every once in a while. I think they were deciding whether or not to buy a new bed as they were testing the springs.

    The driveway ran along one side of the house and the garage was in the back. There was plenty of parking with 2 spots in the garage and 4 in the driveway that still allowed everyone to get out. We had to make sure that when we had guests over they did not park along side the house as no onecould get out. We also had to remind the tenants upstairs to remind their guests of this as well.

    Overall I liked it. I know a couple folks that live in the same situation where they own a duplex and rent out the upstairs. I don't know anybody that doesn't like it. They have the control of their property and have dramaticallylower living expenses. These guys have this as their only property. I don't have any data to back it up but my gut feeling is that this isnot a stong marketing strategy. The little bit of dats I have seen recently does show a lot of people renting out their former residence (single family or otherwise) as they move to a new place.

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  • Account Closed
    Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
    12y

    IMO owner occupied multi unit props owners are low on the motivated seller scale. They live in the property AND they have income. Are you offering to replace that? :)

    For sure a few will have motivation to sell, just like any other group. But I would target the list a little more and look for at least one distress. Tenant issues? Code compliance? Upside down on the mortgage? Tax defaulted? Foreclosure?

    1Reply
  • Dante Nava
    OP
    Real Estate Investor · Cary, NC · Member since 2014 · 79 posts · 11 votes
    12y

    The list I pulled was a relatively small list (less than 100) in my target town since it's not a very big "plex" type of area (it's pretty "uppity"), though it is pretty big on commercial apartments. Anyway,

    @Account Closed , where would I find the info on Code and Tenant issues, I figured out the Tax and upside down part and am still a bit weary of Foreclosures because of the rules behind it.

    Thanks again everyone! Guess my next place WILL be a "plex" of some sort.

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  • Account Closed
    Investor · Central Valley, CA · Member since 2012 · 6k+ posts · 3k+ votes
    12y

    That info (courts and recorded docs) is really state and city specific. You'll need to figure out what's online and what is not. And what documents indicate various problems.

    1Reply
  • Rick H.
    Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
    12y

    Dante - what you are looking for are triggers; catalysts that would cause an owner to want become a motivated seller.

    Many of the posts on this thread missed the point.

    I suggest you go park in front of one of these type buildings with a notepad and write down everything that you can think of that would cause a property owner to pull their hair out in frustration or anger. Those are the triggers that your copy should speak to.

    Write stories that scare and save 'em and /or have positive conclusions because of sellers having sold to you. Remember that all selling, including copywriting, is a transfer of emotion.

    1Reply
  • Dante Nava
    OP
    Real Estate Investor · Cary, NC · Member since 2014 · 79 posts · 11 votes
    12y

    Thanks K., I guess I'll have to see if I can look those up, or figure out how to get them at the court house.

    Rick, I'm not even joking here, your last sentence just made SO much sense to me it's not even funny. You just helped me make a connection in my brain that I'd been trying to reconcile for a while now. I think I owe you a beer or two now. Thanks!

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