Nope : forget that realty manager vetting just do what I did, ask damage deposit and six months rent upfront : works 9 out 10 times ...cuts out the middle man and worked very nicely !
@@johnrussell4954 Yep ! make em pay six months up front with damage deposit !...once they know your serious..it works, forget those reality rip off vetters..More cash for you" Old school works best .
Even tho this is a year old it is still sickening. Being soft on crime just increases crime. Not paying rent and disrespecting and damaging property is a crime. No consequences = repeat conduct. Also encourages others to imitate and join the fun. These type of outcomes for landlords change rental markets. It raises rents, reduces availability and makes landlords un-inclined to give anyone a second chance. It affects the good tenant and makes him pay for the misdeeds of the few irresponsible, destructive tenants.
I am so sick of being a landlord especially in chicago. We have had our share of digusting and irresponsible tenants. We had to evict a tenant this year after 4 months of nonpayment plus they did over 15k in damages. We have a lawsuit against her but the laws here in Chicago are so weak. We are now putting our multiunit up for sale and leaving this God forgetten city.
If you're sick of it, then just stop. People do things like this specifically to make you sick and exhausted with what you do. It's nothing to do with the city, a lot of people simply feel you are an unnecesarry middleman. These people view your way of life as sinful. It doesn't matter where you live. As long as you continue to buy property with the intent to rent for profit, many people will view you as a weak, selfish parasite who diserves misfortune.
I had a rental house in Los Angeles 25 years ago. That tenant, who was a minister btw, left owing me 4 months rent and did $40,000 damage to the house. I didn’t recover a penny. Now I own a rental management company in North Idaho and every single tenant paid their rent on time during covid and I have never had a tenant destroy or leave a house filthy here. People here are far more responsible and decent than in Los Angeles.
Here is a proposal for those landlords whose tenants are thumbing their nose at the landlords who think they can get away with never paying tens of thousands of dollars in rent that they owe, I'd like to suggest that you consider 1099ing your deadbeat tenants. According to the IRS, nearly any debt you owe that is canceled, forgiven or discharged becomes taxable income to you. If the landlord doesn't feel they have the funds to sue for a judgement about the unpaid rent, this is another avenue to consider taking. True enough, you won't personally get paid, but it is a way of giving a well deserved consequence to the tenant. You report to the IRS the amount that the deadbeat tenant has failed to pay. You also report the amount they owe you for property damage if they trashed the place after eviction. If you have not sued for the money and instead chose to discharge the debt, the IRS will in turn count it as income for the tenant. The tenant will then owe the IRS taxes on the amount of rent for which they stiffed you. And despite the fact that there are plenty of state laws that let tenants stiff landlords, there are no federal laws that let tenants stiff the IRS on paying tax on the debt they owe you, which will be viewed as income by the IRS. Speak to an accountant about it so that every penny they owe you for unpaid rent or property damages is counted as income for them by the IRS - income for which they will have to pay federal and state taxes. It may trigger other consequences for them, especially if they applied for federal funds to pay rent to stay in your property, but then used that money to buy TVs or go on vacation. It will cause their income from prior years to be recalculated, and they may then owe back taxes for the portion of income they did not report (recall that the unpaid rent is viewed as income by the IRS). I'm not guaranteeing this will work in all markets, but suggest that you run it by a local accountant and a tax attorney.
That is an amazing idea that I never thought of for a landlord. My late husband filed a 1099 on someone who stole $100,000 of automotive paint from a business warehouse he owned.
I was in the same position. Professional tenants who know the system. The woman who did this is evil. Tenants think landlords are rich. I’m sure if you’re successful in winning a judgement this woman’s paycheck can be garnished. Have you made a police report for vandalism. We lost as much as you. The 2 family home I grew up in, memories of Christmas, Thanksgivings and my wedding had to be sold. The pieces of shit who I gave a break to walked away free and clear. I was the third person they ripped off. I sold my family home & swore never to be a landlord again.
COME ON MAN you cannot trust anyone these days, the days of the old handshake died with our parents now i wouldnt own something to rent if i was paid enough to live on
Disgusting tenant! Taking advantage of other people who’s trying to make a living! Government is at fault as well by allowing opportunistic people to take advantage! Politicians really is out of touch and has no idea in solving crisis instead just make things worst!
This woman is adding to the social issue of unaffordable housing, unaffordable to even rent for someone working full time in medical what does that say the system of allowing rich mummy and daddy to exploit working families who work full time to serve the community, creating a cycle of housing available only to the privledged who are given housing on a silver plate by their often times old money parents rather than encouraging their children to work for their own.
I;d be willing to bet the tenant will "adjust" her income to qualify for a Chapter 7 and throw the landlord under the bus. New day. Same sht. The landlord may well end up following the tenant in bankruptcy, perhaps to restructure debt in a chapter 13... mortgage forbearance is OVER and there is no bailout for landlords. How do you spell "Depression"?
same here. I used to rent rooms out f my four bedroom home but after my state passed so many laws in favor of the tenant, I decided that living alone in a four bedroom house isnt as bad as I thought it might be.
My mom passed away… and I am losing her house of 22 years because she put it reverse mortgage. I need a home to move to… I am great at fixing things in a house… as I like to live in a nice home. I wish I could live there and fix it up for the lady that has this house! Homes should be treated well and maintained! I feel bad and wish I could help somehow!
I feel sorry for your situation. I assume your mother did not have enough money saved when she retired so the only way to get additional money was to spend the equity in her house. It this is correct, your mother's problem was not that she had a reverse mortgage but that she was not yet in a financial position to retire when she did. I am very sorry for that and will take your mother's lesson to heart in order to not repeat it.
Buying your children property actually makes the market less affordable for indivuduals to buy their own. Landlords are actually adding to societies issue with the economy leading to unaffordable housing for most people who dont have rich mummy or dadsy to pay their way through life. Sad .
It is unfortunate, I went through the same. Get a judgment and hopefully it will result in a garnishment. Renovate your property back to rentable condition. Write the losses off on your taxes. And make up the lost income by raising rent. This is a business and emotions have to be removed from it. Stop trying to help/save people!
I don’t get this. The tenants and the landlords are screwing each other. The landlords charging exorbitant rent increase. The tenants destroying the properties. She can get a judgement for collection and start garnishing their wage soon after. As long as the tenant is working, there is a way. If not, the tenants’ credit can be screwed decade after decade. It would be nearly impossible to apply for any loan with reasonable interest or rent another property. I guess the tenants don’t care about themselves or their future therefore anyone
I've never done a remodel that resulted in black mold in the shower. On the other hand, I've seen plenty of tenants not clean my rentals, and the cockroach eggs are there to prove it.
Okay... but why rent out a place that is supposed to be the "castle to their budding family?" They tried to convert a home that was supposed to be for their family into a business. Unfortunately, businesses involve a level of risk that the owners have to be willing to take. In my mind, this does limit the sympathy I have for this property owner.
I hate to say this but this is going on everywhere a lot of tenants don't realize Mom and pops don't have the money they don't realize that these Mom and pops are struggling through the pandemic as well taken out of their own income to meet the mortgages for the houses they live in and then they turn around and destroy the places I've seen it all over in the area that I live in and I find it disgusting and I'm a renter I'm not a landlord I wish I could afford to buy a house but unfortunately they didn't think of that mess so when the Mom and pops can't afford to replace it or keep it the mortgage to continuously lose money they're going to sell it to a Wall Street corporation or Internet corporation in the cut their losses and then that's going to cause rents to go up again
Why are children entitled to their parents to buy them property? It seems to be a cycle of privilege perpetuating unaffordable housing for the young working class. It's just pure greed to own more homes than you need to.
Most of these landlord parents can't afford to adhere to their rental agreements even to provide a safe home in the first place they just want rent money because of their greed in the first place and the idea of silver spoon children at any cost. My landlord won't even fix the boiler it's been over a month now and he keeps coming to the property without 24hr notice everyday to carry out work I am unaware of it. It makes me so anxious to see male contractors walking around the property unannounced it's unacceptable. Let's not be blind to bad landlords who don't do their part either when we pay 1000s of dollars and extra services we aren't receiving but compulsory to pay in rent every month it's shocking and don't allow me to live peacefully or safely in my rented home. They're basically breaking Californian law. Read up on the rights of tenants before you rent out properties to hard working people unlike your children who are waiting on free handouts.
Facts it’s her fault for being nice , renting to a single mother was already a red flag she’s a single mother for a reason , in business you gotta discriminate sometimes you can’t be nice or you end up like this lady getting screwed over
First rule of being a landlord, never feel sorry for your tenant. Preforming credit checks and reference checks can prevent this from happening.
Rented houses for years Worst Tenants were lawyers doctors and nurses credit was wonderful tenants we're not
Nope : forget that realty manager vetting just do what I did, ask damage deposit and six months rent upfront : works 9 out 10 times ...cuts out the middle man and worked very nicely !
@@johnrussell4954 Yep ! make em pay six months up front with damage deposit !...once they know your serious..it works, forget those reality rip off vetters..More cash for you" Old school works best .
California no longer alloweds landlord to check credit.......
my mom always tell me, never feel sorry for someone because nobody will for you. We live in a cold world.
No way would I be a landlord. Especially these days.
It's great way to make money as long as you do it right and aren't in a socialist state.
California doesn't care for the landlord. Then they wonder why there is a shortage of rentals.
Tenants need to be held accountable for damages and all back rent. Garnish any wages they make until all damage repair is covered.
Good luck with that.
Collect a bigger deposit! Landlords can't do that.
Even tho this is a year old it is still sickening. Being soft on crime just increases crime. Not paying rent and disrespecting and damaging property is a crime. No consequences = repeat conduct. Also encourages others to imitate and join the fun.
These type of outcomes for landlords change rental markets. It raises rents, reduces availability and makes landlords un-inclined to give anyone a second chance. It affects the good tenant and makes him pay for the misdeeds of the few irresponsible, destructive tenants.
I am so sick of being a landlord especially in chicago. We have had our share of digusting and irresponsible tenants. We had to evict a tenant this year after 4 months of nonpayment plus they did over 15k in damages. We have a lawsuit against her but the laws here in Chicago are so weak. We are now putting our multiunit up for sale and leaving this God forgetten city.
If you're sick of it, then just stop. People do things like this specifically to make you sick and exhausted with what you do. It's nothing to do with the city, a lot of people simply feel you are an unnecesarry middleman. These people view your way of life as sinful. It doesn't matter where you live. As long as you continue to buy property with the intent to rent for profit, many people will view you as a weak, selfish parasite who diserves misfortune.
I had a rental house in Los Angeles 25 years ago. That tenant, who was a minister btw, left owing me 4 months rent and did $40,000 damage to the house. I didn’t recover a penny. Now I own a rental management company in North Idaho and every single tenant paid their rent on time during covid and I have never had a tenant destroy or leave a house filthy here. People here are far more responsible and decent than in Los Angeles.
Then sell your extra properties and sfu.
Hopefully that tenant ends up in The streets where she belongs.
The politicians who allowed this should be personally responsible for all expenses
Lol
The consequences of these will be higher rents for everybody.
Here is a proposal for those landlords whose tenants are thumbing their nose at the landlords who think they can get away with never paying tens of thousands of dollars in rent that they owe, I'd like to suggest that you consider 1099ing your deadbeat tenants. According to the IRS, nearly any debt you owe that is canceled, forgiven or discharged becomes taxable income to you. If the landlord doesn't feel they have the funds to sue for a judgement about the unpaid rent, this is another avenue to consider taking. True enough, you won't personally get paid, but it is a way of giving a well deserved consequence to the tenant. You report to the IRS the amount that the deadbeat tenant has failed to pay. You also report the amount they owe you for property damage if they trashed the place after eviction. If you have not sued for the money and instead chose to discharge the debt, the IRS will in turn count it as income for the tenant. The tenant will then owe the IRS taxes on the amount of rent for which they stiffed you. And despite the fact that there are plenty of state laws that let tenants stiff landlords, there are no federal laws that let tenants stiff the IRS on paying tax on the debt they owe you, which will be viewed as income by the IRS. Speak to an accountant about it so that every penny they owe you for unpaid rent or property damages is counted as income for them by the IRS - income for which they will have to pay federal and state taxes. It may trigger other consequences for them, especially if they applied for federal funds to pay rent to stay in your property, but then used that money to buy TVs or go on vacation. It will cause their income from prior years to be recalculated, and they may then owe back taxes for the portion of income they did not report (recall that the unpaid rent is viewed as income by the IRS).
I'm not guaranteeing this will work in all markets, but suggest that you run it by a local accountant and a tax attorney.
good idea
That is an amazing idea that I never thought of for a landlord. My late husband filed a 1099 on someone who stole $100,000 of automotive paint from a business warehouse he owned.
Good idea but people like this don’t give a damn about taxes on additional income. I’m sure they don’t pay their taxes either.
Sadly the public opinion is to screw those who have money although they have earned it through their hardwork. America we live in today.
Jealousy is destroying this country. Far too many people think they are owed and use every stupid excuse to try to cover their failures.
I was in the same position. Professional tenants who know the system. The woman who did this is evil. Tenants think landlords are rich. I’m sure if you’re successful in winning a judgement this woman’s paycheck can be garnished. Have you made a police report for vandalism. We lost as much as you. The 2 family home I grew up in, memories of Christmas, Thanksgivings and my wedding had to be sold. The pieces of shit who I gave a break to walked away free and clear. I was the third person they ripped off. I sold my family home & swore never to be a landlord again.
I'm sorry to hear that. Man that ticks me off! There is alot of people who don't care. I know!
There was a time I would have considered being a landlord; not now they way people have become so disrespectful.
My thoughts exactly.
Not worth the headache.
Those tenants are scumbags
COME ON MAN you cannot trust anyone these days, the days of the old handshake died with our parents now i wouldnt own something to rent if i was paid enough to live on
Disgusting tenant! Taking advantage of other people who’s trying to make a living! Government is at fault as well by allowing opportunistic people to take advantage! Politicians really is out of touch and has no idea in solving crisis instead just make things worst!
No, the landlord is at fault for renting out property in a socialist state.
This woman is adding to the social issue of unaffordable housing, unaffordable to even rent for someone working full time in medical what does that say the system of allowing rich mummy and daddy to exploit working families who work full time to serve the community, creating a cycle of housing available only to the privledged who are given housing on a silver plate by their often times old money parents rather than encouraging their children to work for their own.
This is why I keep my thugs friend around for situations like this, renters are out of control.
Exactly, these people would be room temperature if these homeowners had any balls
"holes as big as hands".....you can't make this stuff up
Oh, no. What will the landlords do when the people they exploit give them what they deserve haha.
Why are rents so high? Exhibit A...
Property taxes , maintenance cost , insurance, mortgage payments many reasons why rents are expensive
@@cool-yt1zq All true, but you missed mentioning low level bureaucrats with a clipboard. They are the bane of my existence.
It should be illegal for tenants to do this.
I don't think landlords should of been made to take this burden
No Pay!!! No Stay!!!! Nothing is FREE in The USA!!!!!!! Gotta Go Now!!!!!! OUT!!!
Good luck with that in California.
No way would I want to be a landlord. Way better and safer ways to make passive income
It isn’t as passive as you think.
Get a mobster to motivate them....thank you Mr saprano
I;d be willing to bet the tenant will "adjust" her income to qualify for a Chapter 7 and throw the landlord under the bus. New day. Same sht. The landlord may well end up following the tenant in bankruptcy, perhaps to restructure debt in a chapter 13... mortgage forbearance is OVER and there is no bailout for landlords. How do you spell "Depression"?
The government needs to make these situations criminal.
Get to know ow your tenants, create a community, check the apartments unannounced.
Getting a money judgement against a woman with fatherless children? LOL. Good luck with that.
If this was actually the news they would report that this is due to government mandates not covid-19
Guaranteed their wages.
Another reason I will never be a landlord
same here. I used to rent rooms out f my four bedroom home but after my state passed so many laws in favor of the tenant, I decided that living alone in a four bedroom house isnt as bad as I thought it might be.
My mom passed away… and I am losing her house of 22 years because she put it reverse mortgage. I need a home to move to… I am great at fixing things in a house… as I like to live in a nice home. I wish I could live there and fix it up for the lady that has this house!
Homes should be treated well and maintained! I feel bad and wish I could help somehow!
I feel sorry for your situation. I assume your mother did not have enough money saved when she retired so the only way to get additional money was to spend the equity in her house. It this is correct, your mother's problem was not that she had a reverse mortgage but that she was not yet in a financial position to retire when she did. I am very sorry for that and will take your mother's lesson to heart in order to not repeat it.
Buying your children property actually makes the market less affordable for indivuduals to buy their own. Landlords are actually adding to societies issue with the economy leading to unaffordable housing for most people who dont have rich mummy or dadsy to pay their way through life. Sad .
It is unfortunate, I went through the same. Get a judgment and hopefully it will result in a garnishment. Renovate your property back to rentable condition. Write the losses off on your taxes. And make up the lost income by raising rent. This is a business and emotions have to be removed from it. Stop trying to help/save people!
Don’t waste your time or money on suing her. You won’t get a dime.
Those used appliances shouldn’t be reaching 50K….
I don’t get this. The tenants and the landlords are screwing each other. The landlords charging exorbitant rent increase. The tenants destroying the properties.
She can get a judgement for collection and start garnishing their wage soon after. As long as the tenant is working, there is a way. If not, the tenants’ credit can be screwed decade after decade. It would be nearly impossible to apply for any loan with reasonable interest or rent another property. I guess the tenants don’t care about themselves or their future therefore anyone
No, I don't believe any of this. Looks more like a remodeling project went wrong. A contractor messed up.
I've never done a remodel that resulted in black mold in the shower. On the other hand, I've seen plenty of tenants not clean my rentals, and the cockroach eggs are there to prove it.
What other business can one stiff and destroy the property of another .
How was it the castle your buddy home if you meant that much you wouldn't have rented it out
Okay... but why rent out a place that is supposed to be the "castle to their budding family?" They tried to convert a home that was supposed to be for their family into a business. Unfortunately, businesses involve a level of risk that the owners have to be willing to take. In my mind, this does limit the sympathy I have for this property owner.
I hate to say this but this is going on everywhere a lot of tenants don't realize Mom and pops don't have the money they don't realize that these Mom and pops are struggling through the pandemic as well taken out of their own income to meet the mortgages for the houses they live in and then they turn around and destroy the places I've seen it all over in the area that I live in and I find it disgusting and I'm a renter I'm not a landlord I wish I could afford to buy a house but unfortunately they didn't think of that mess so when the Mom and pops can't afford to replace it or keep it the mortgage to continuously lose money they're going to sell it to a Wall Street corporation or Internet corporation in the cut their losses and then that's going to cause rents to go up again
Why are children entitled to their parents to buy them property? It seems to be a cycle of privilege perpetuating unaffordable housing for the young working class. It's just pure greed to own more homes than you need to.
Most of these landlord parents can't afford to adhere to their rental agreements even to provide a safe home in the first place they just want rent money because of their greed in the first place and the idea of silver spoon children at any cost. My landlord won't even fix the boiler it's been over a month now and he keeps coming to the property without 24hr notice everyday to carry out work I am unaware of it. It makes me so anxious to see male contractors walking around the property unannounced it's unacceptable. Let's not be blind to bad landlords who don't do their part either when we pay 1000s of dollars and extra services we aren't receiving but compulsory to pay in rent every month it's shocking and don't allow me to live peacefully or safely in my rented home. They're basically breaking Californian law. Read up on the rights of tenants before you rent out properties to hard working people unlike your children who are waiting on free handouts.
I have a feeling that white lady that rented out her property and had 40,000$ worth of damage was probably a terrible landlord… 😅
Why did you mention her race? Do you think she was a terrible landlord because she is white? If so, that is racist of you.
That's the chance you take when you rent your property out trying to pay your mortgage and pocket money don't go crying about it
Facts it’s her fault for being nice , renting to a single mother was already a red flag she’s a single mother for a reason , in business you gotta discriminate sometimes you can’t be nice or you end up like this lady getting screwed over