Recap of our first week owning a 4 plex

7 Replies

We closed last Tuesday. In the first week, 

  • We sent a letter ending month to month tenancy with the unit that had cockroaches. No word from them yet... kind of dreading that convo
  • I've spent way too much time calling, on hold and talking to voicemail boxes trying to figure out how to transfer one tenants county assistance to my name from the previous landlord. To date, this remains unresolved and of the 5 messages I've left, no one has called me back and rent is due next week.
  • Another tenant took her boyfriend (who is also on the lease) to court for domestic and called to request permission to change the locks.

Hope every week isn't this adventurous. 

Our week wasn't that bad! Definitely get the cockroach issue under control -- they've earned their reputation -- but I'd say don't stress yourself out about the rest. You'll get the rest handled and taking over management of a property has a big upfront workload, especially with tenants in place. Things will calm down once you get over the first wave. If you keep having issues with tenants don't be afraid to get new ones!

Keep up the good fight! Cheers.

Peter MacKercher, Real Estate Agent in MO (#2010004223)
(314) 210-4414

@Ashly B.

 OH the joys of landlording hahaha, I hope your week gets better.  

For the second unit is that your responsibility to chase the money or is it your tenants?  I only ask because I never dealt with gov assistance.  I would think that because the tenants name is on the assistance program and when they move they would have to list the new landlord anyway, they would have to deal with it.  Maybe you might have to terminate their current lease and have them sign a new one with the same agreements just a name change?

Holy moly! tough week for sure. Keep your head up and take care of one thing at a time, Rome wasn't built in one day..(or a week for that matter..) 

When it comes to the rental assistance, maybe you should take some time to visit an office? those type of agencies usually have their hands full all the time. 

Good luck!

Contrary to popular opinion, the landlording business can be pretty smooth sailing.

Screen, screen, screen, and get good tenants!

Put systems in place and document everything. Get a strong lease and stick to it. Make sure it's realistic and enforceable.

Outsource the stuff you don't want to do, and focus on growth.

You'll be fine!

Originally posted by @Royce Talbo :

@Ashly Baugh

 OH the joys of landlording hahaha, I hope your week gets better.  

For the second unit is that your responsibility to chase the money or is it your tenants?  I only ask because I never dealt with gov assistance.  I would think that because the tenants name is on the assistance program and when they move they would have to list the new landlord anyway, they would have to deal with it.  Maybe you might have to terminate their current lease and have them sign a new one with the same agreements just a name change?

Thanks for all the words of encouragement :) Since my posting the 4th tenant (only one not mentioned above), called and requested an in person meeting to discuss the remainder of her lease. Joys of landlording for sure!

I'm not sure Royce. The previous landlord provided me with the paperwork he had to fill out in order to receive the assistance from the tenant and the assistance is approved up through the end of the year. I was hoping I'd just have to sign something and provide my address and we'd be good to go but its proving to be difficult to even get to that step. The previous landlord did offer to just turn the check over to me if it doesn't get sorted before July rent is paid (thank goodness he's been accommodating!) but its still frustrating to not even be able to get anyone on the phone 

Originally posted by @Tyson Luthy :

Contrary to popular opinion, the landlording business can be pretty smooth sailing.

Screen, screen, screen, and get good tenants!

Put systems in place and document everything. Get a strong lease and stick to it. Make sure it's realistic and enforceable.

Outsource the stuff you don't want to do, and focus on growth.

You'll be fine!

110% agree with you. We've been landlords for a SFH for 3 years and never had ANY issues - great tenants, little maintenance ::knock on wood:: However, we didn't pick these ones so we kinda have to roll with the punches until we get this settled and can start upgrading and marketing to a different demographic.

Originally posted by @Ashly B. :

We closed last Tuesday. In the first week, 

  • I've spent way too much time calling, on hold and talking to voicemail boxes trying to figure out how to transfer one tenants county assistance to my name from the previous landlord. To date, this remains unresolved and of the 5 messages I've left, no one has called me back and rent is due next week.
  • -----------------------------------------------------------------------------Get the name of the head of agency (perhaps from the operatr there) xall his/her office and ask to speak to the commissioner or what ever his title is.  They will ask yu to leave a message and rhen you tell them that you have called his agency 5 times and no one has responded
  • This should generate a response
  • In addition see if you can locate an internet site and document your request on the internet.  You should get a response 

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