Cheryl Isaak wrote:
"brooklyn1" wrote:
Cheryl Isaak wrote:
"brooklyn1" wrote:
Jeff Thies wrote:

I'm in need of some landscaping
I'm doing some real estate investing and am buying a couple of
starter houses (as rentals)

You don't want to do landscaping for tenants... maybe one low
maintenence shade tree, and strong fencing to keep vehicles on the
paved area.

I disagree. A good long term tenant likes to have a little eye candy in the
yard. Encourage him/her to add their own touches.

Good, let them hang curtains, and clean the terlit... tenants are
tenants for a reason, they are not responsible.

There's no way to know how long a tenant will stay (there's no way the
tenant knows how long they will stay) and the vast majority are very
transient, that's just the nature of the beast, no prospective tenant
ever tells the truth about why they are moving, they often don't have
the foggiest idea about why they are moving other than they couldn't
pay rent at the last place. Other than non payment of rent the two
most popular reasons why a tenant is moving is due to change of
employment or a divorce/separation (two good reasons to be short of
cash). And even those who stay a couple three years (the outside of
long term) rarely will do any landscape maintenence, most won't
remember to water their own potted plants. I've had rental properties
for more than forty years, often as many as a dozen at a time, and at
nearly 70 years old I still have a couple of rental properties. I
never expect a tenant to tend to the outside, I'm happy to have the
rent paid and that they don't destroy the place. There's money to be
made with rental property but expecting tenants to do any maintenance
is the last of priorities, tenants are far more likely to be abusive
because it's not their property, folks don't treat rental cars very
well either. Tenants resent paying rent, tenants don't like that
they're tenants, they're tenants because if they want a roof they have
no other choice... they are not going to spend any money or make any
effort to improve the landlord's property. And in fact I don't like
tenants to be long term, better they leave after a year, or two at the
most. Tenants are typically on their best behaviour early on but at
about a year they begin to act like they own the place and the
landlord is the interloper. I don't let my tenants dig in the ground,
they'd just make a mess... if they want to landscape they need to buy
their own property... if they want to garden I tell them to buy a pot
and keep it on a paved area. Now I do all the rental landscape
maintenance but previously when I had more properties I hired a
professional or the condo association did. I strongly suggest that
anyone contemplating becoming a landlord that they make sure their
head is screwed on correctly and divest themselves of any pie in the
sky altruistic attitude... the reality is that you own the property
and have all the responsibility, the tenant owns nothing and couldn't
care less about what's not theirs... the first time they can't pay the
rent (and it will happen) you'll believe me... all tenant's actually
believe that they should be permitted to owe the rent the same as they
owe on everything else that they put on plastic that eventually they
never pay. Anyone who thinks a tenant is going to buy a lawnmower is
nuts, even if you give them a lawnmower and the fuel they still won't
mow, they'll probably sell the mower and say someone stole it... you
really don't want a rental property that has a lawn anyway... the best
rental properties are condos (no outside maintenance) or are a simple
house on minimal land, just barely enough side yard for a walking path
and with a postage stamp yard. Now my rental house is on the property
where I live and I do whatever needs to be done outside... my other
property has no residence, it's a 90 acre hay field that I rent to a
farmer who raises beef on his land two properties down the road, he
does the haying and pays my taxes... meanwhile in seven years that
property has appreciated, very conservatively, threefold. Investing
in rental property is a lot more involved than most people imagine,
you had best have a great sense of humor and a cast iron temperment.



And just how long have you been a landlord? I have 20+ years of it.

I said for more than forty years.

You do get bad tenants, but honestly, I've only needed the sheriff once.

I don't like to say "bad tenants". I've had many "problematic
tenants". I've had to have tenants evicted three times, didn't need
the sheriff (fortunately), when the judge gave them ten days to vacate
and specified the consequence of the sheriff placing their belongings
to the curb they vacated within the week. Of course I never did
receive the back rent (or got paid for their damage) but was happy to
be rid of them and move on. In the scheme of things losing a few
month's rent is no biggie (often a house remains empty for a couple of
months between tenants), and minor repairs go with the territory
anyway. Large damage is what landlord's insurance is for... you need
homeowners insurance anyway, a landlord's rider adds little to the
premium. I always tell my tenants to obtain a renter's policy, my
insurance covers my property but not theirs. A renters policy can be
obtained where they buy auto insurance, adds under $20/month. Very
few buy it, foolish... because even if not damaged by fire/water their
property is covered for theft, and many renters associate with
unsavory types having no integrity... their own famly members will
when they visit clean them out right down to their toothpaste.

House rentals attract better potential renters

Not sure what you mean here by a "potential" renter. I've experienced
the same caliber of renters with private stand alone residences and
with condo units. Even though I've never invested myself I know
people who own apartment buildings, they have exactly the same kind of
tenant problems. I've stayed away because apartment
building/complexes fall under much stricter municipal codes, and tax
audits. I've steered clear of commercial property too, commercial
tenants have more rights than the landlord. I have a friend who
bought a small strip mall, wishes he could sell it. Did ya know that
regrdless the type of property if the tenant doesn't tend to their
trash zoning enforcement cites the property owner, not the tenant...
and that's also for improperly parked/unregistered vehicles.

and basic yard work is easy contracted out.

With condo units the association tends to the exteriors. With private
stand alone residences I'd contract with a professional grounds
maintenence company. In more then forty years I've had only two
tenants that enjoyed gardening, one years ago liked to tell all their
friends adn relatives that they bought a house, they also wanted the
neighbors to think they owned it, but few tenants care how they're
perceived. One just recently, a school teacher who rented my present
rental for two years, she worked summers at a farm stand that also did
flower baskets of all types so knew about gardening and had access to
free plants and materials... she actually went a little overboard with
invasive herbs, I'm still yanking mint from along the foundation, but
she did keep her little area looking good... but I did all the mowing
and she knew not to litter the grounds with her stuff, or it would
likely get mowed. She was getting a divoce so after the first year
her divorce was final and she began dating contantly adn over night
vistors all the time. I had a name for her, "1-800-FLOWERS", she met
a lot of guys at the farm stand who would send her flowers that came
to my door. And since I live in a northern clime snow/ice removal
present a whole nother set of problems. I have more tenant war
stories than I have time to type. I can say that it's a tremendous
responsibility and a lot of work but monetarilly being a landlord has
been very good to me... and has vastly enriched my life in the human
relations areas. Most tenants mean well but many just don't have the
ability to live responsibly, most folks don't, over spending is an
addictive disease just like any addiction, thast today is running
rampant. The economy is in the cellar mainly because there are way
too many insisting on living well beyond their means... and bailing
out poor money managers is the very worst kind of bandage... that's
like buying a bottle for an alchoholic. But this is actually the best
kind of economy for real estate investment... mortgage rates are the
lowest they've ever been, and the more people strapped for cash the
more renters there are chasing fewer rentals, which drives up the
rent. This is the best landlord's market I've ever seen. Even though
home sales are slow real estate brokers are making more money than
ever, all have always had rental properties, and since they get first
dibs they are buying up more like crazy. Real estate brokers have
always made most of their money owning rentals... if they had to live
soley on sales commissions (that in most cases they share) they'd all
starve... property management is where they make most of their money.
Anyone still young can make a lot of money, most of the profits are in
waiting the years it takes for property to appreciate while the
tenants pay the mortgage, taxes, insurance, etc.