Since I was still in school at the time I purchased it, I couldn't really take on the responsibility for managing it on my own. I had NO time and NO experience. What would happen if something needed to be repaired? Lord knows I have plenty of tools and know how to use them but can I haul a toilet up 3 flights of stairs....don't think so. The complex where the property is has an on-site management company. For a finders fee and a small monthly management fee, they would find the renter and take care of everything! Wonderful. I could swing that. The rent was enough to cover the mortgage, condo fee, management fee and I still could get my nails done! :)
The first tenant moved in and that's when the problems started! I wasn't getting my investment check from the corporate office on the specified date. No one at the corporate office would speak to me. The rental agent at the on-site office never returned my calls. Getting information and money from them was a nightmare. This went on and on until I got a statement from the corporate office that no rental income was received. Hmm, I said, what's this about? Well, come to find out, the renters skipped out leaving me without 4 months rent. It turned out that the rental agent was a relative of the renters and really royally screwed me.
Fast forward to the new tenant. He's been living there for over a year. Again, the management company was hard to work with. Then, I graduated and decided that enough was enough. I didn't have this property to have to fight for my money every month. I fired the management company! They reluctantly refunded the monies they had on account for me -- after a few harsh emails and voice mails from me. There is way more to this story but, suffice it to say, it was nothing but a hassle!
I informed the tenant that I was now taking over everything and that he was to deal with me directly. I drew up a new lease, went over to the property, met him and we signed everything. So, the first month passes with no hassles -- except a leaky toilet, which, by the Grace of God, was fixed before it caused major problems for the downstairs people. Then comes the next month....I get a call......I'm going to be a little late with the rent but I can pay you half now. HERE WE GO! I said okay. Now, here's why I said okay...when I first was separated from my ex husband, I rented an apartment. I didn't have anything. I had to rob Peter to pay Paul. I had to borrow money from my dad. If my landlord hadn't helped me out, I would have been out on the street. So, I was okay with that. He finally paid up and all is well.
Then, I get a call that he was hurt at work and was going to be late again. I asked him when he would be sending the check and that he must include the late fee. Enough is enough. I can only be so nice. That month got paid with no late fee. In the meantime, I had to go over there to replace pipes under the kitchen sink. Now, at this point, he never says anything about January rent being late. Until he calls and tells me a few days later. By now, I'm not tolerant.
I have been sick since the New Year began. I lost my voice. It's almost back but that's irrelevant. So, since I can't talk, I text him. When is the rent being paid? He says that I should have gotten it by now and that he needs to check to see if his son mailed it. I said that 2 months worth of late fees were to be included. He says he forgot. Ok...are you seeing anything wrong with this picture? So that was Wednesday. Yesterday, I got a check dated for 1/9 mailed on 1/8. No late fees. So, I text him again telling him what I have and that I expect the late fees to be paid by Wednesday and that the rent would be paid ON TIME in February. He texts back that his son forgot to mail the check and he just wrote a new one and forgot the late fees. WRONG! I might have been born at night but it wasn't last night! We shall see what happens with this man.
It gets better -- he keeps complaining about the "industrial" carpets and wants them replaced. Um......NO. They were brand new when I bought the place, cleaned before he moved in and staying there! He says they stink. I say rent a cleaner but I'm not paying for it.
Then, he didn't clean the stove and the burner caught on fire. Stove had to be replaced. I said keep it clean. Is it? NOPE.
Then he says he wants to paint. I say fine but I'm not paying for it and when you leave all the walls must be white. He hasn't done that.
THEN, he has the nerve to ask if he can get a dog because his kids want one. I'm not against animals, really and truly. I believe that children should grow up with animals but they should be able to care for them properly. But, come on.....your lease says NO PETS. The by-laws of the association say no rental properties can have pets. Sorry, dude, no pets. My luck, he'll get one and it will tear up the place.
The saga continues!
