Know the old saying, "happens in threes"? Three people you know pass away, three birthdays all in the same week?
That happens at the rentals. For a period of time I will have a string of refrigerators that need servicing or replacing. It usually costs on an average of 200 for repairs. If we buy new one, figure 400+.
Sometimes it is one oven after the next that goes out.
And I can't forget the investation of bugs. Four bed bug apts in the last couple months. Used to be roaches brought in by someone which are far easier and cheaper to irradicate. These bed bugs could put anyone in financial ruin.
Recently for me, it has been illegal activity that has abounded in three different apt buildings.
Let me give a summary.
Tenant 'A' gets arrested for 3 counts of theft, 'friends' staying in apt while he is in jail are partying and using-I get the cops over there, kick them out, change the locks
Tenant 'B' down the hall come to find out supplied those drugs and has been dealing in my building. Found this out only when someone came looking for him while I was cleaning one of the empty apts. The buyer couldn't remember which apt the "tall dude with the big cadillac" lived. He asked me if I would sell him some. (Needless to say, 'B' got a 30 day notice after that)
Tenant 'C' let a brother move in when he got released from jail and while 'C' was working during the day, brother was playing. And play he did. I threatened to evict 'C' if he didnt get rid of his brother. 'D' across the hall let someone crash in her apt, take it over and got in constant conflicts with 'C'. She carved up his door with a knife, threatened him repeatedly. Cops were called out numerous times. Oh yeah, 'D's intruding roommate brought in bed bugs with her. Called the cops over there too and had her removed. 'C''s brother finally got arrested for parole violation and drug possession.
But that isn't the end of 'C'. Now he has two ladies staying at his place (oh excuse me. They dont live there, they are just visiting him) I was notified that as soon as it gets dark, gentlemen come and pay a visit. A very short visit. And numerous times the gentleman might try and force his way into apts below not knowing the correct address. As soon as I was made aware of this problem, I gave 'C' a 30 day notice. That only increased the activity starting in the late afternoon into the evening.
'B' and 'C' are now bad mouthing me about all the terrible things I do and don't do as a landlord to anyone that will listen. 'B' even called the fire dept about violations in the building he lives at. The Inspector could find no violations.
Let's see, which tenant is next....
'E'! Hippy on government assistance. Doesnt have to pay a dime of his own rent. Spent the nights smoking with his hippy buddies. Served him with a 7/7 and of course his activity did not stop during those seven days. Told him to get out. He must have had a temper tantrum because he really tore up the apt. I lost my tenant upstairs because of him. And of course this tenant didnt tell me himself he moved out. I had to find it out two weeks into the month.
Has been a very stressful few weeks. I have been doing this now for over 20 yrs. The first time I really seriously thought, can I do this any more? Economy is not getting any better. More and more are getting entitlements. When it really gets bad, what will we do? We cant afford to leave apts empty. How would we pay the bills? My insurance company just raised the premiums on three of our properties by %50. It costs me &500 each time I have to get rid of bed bugs. And do I really ever get rid of them? My property taxes went up, the electric and gas are going up at the end of summer, I had a tenant who didnt inform us that the water in her toilet wouldnt shut off. The bill that is usually 110, was 593. The tenant doesnt feel obligated to have to pay any of it.
I wondered, how can we keep this up. How can I keep dealing with this? After spending 45 minutes at the police station about the prositution going on in 'C's apt. I sat out in the car and just cried my eyes out. If it is this bad in small town Iowa, I can only imagine what it is like in a bigger city.
I feel worn down and defeated.
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