investment property - Dealing with My Tenant from Hell

Dealing with My Tenant from Hell

I became a landlord (landlady?) on April 7, 2010 when I purchased an investment property with a tenant in it.  The property was purchased from a friend and he assured me that she was a wonderful tenant.  Better yet, her rent was always on time.  Since my tenant has terminal cancer, a government funded program paid for 75% or her rent which was sent directly to the property owner.  The tenant was responsible for the balance as well as all utilities.

I would basically be responsible for upkeep and maintenance, changing the batteries in the smoke and carbon monoxide detectors and, of course, the taxes on the property.  Based on my investment, if nothing major broke, and I had a 90% occupancy rate with no rent increases or major tax increases, I would break even in a little over three years with no mortgage on the property.  It seemed like a perfect opportunity for me, until the tenant decided that paying her balance of the rent any time before the middle of the month was too bothersome for her. […]

My Tenant Paid The Rent

My Tenant Paid The Rent

I have a tenant.  Oh boy, do I have a tenant. If you have not been following my saga, please go back and read a bit.  Don’t worry, I’ll wait.

My Tenant's Rent Is Late...Again

My Tenant’s Rent Is Late…Again

I took a deep cleansing breath before beginning this post, however, I can not guarantee that I will make it to the end of this post without bursting into virtual hair pulling.  Early last month I told you about my tenant that has been consistently late in paying her rent.  I hadn’t charged her the late fees outlined in our lease agreement and decided to begin charging her the late fees if she was late with November’s rent.  Lo and behold, it is now the 12th and I have yet to receive the balance of the rent that she is responsible for.

I’m not a stalkerish type of landlord.  I don’t call or write or bug her at all.  I let the grace period of 5 days go by.  You know how Jesus rose from the dead on the 3rd day?  Well, she came out of hiding on the 6th day, which happened to be last Saturday.  She must have called me 10 times that day saying that she was going to pay the rent by depositing directly into my bank account.  I never answered her phone calls and allowed them to go to voicemail.  I did call her back on Wednesday to tell her that i had not received the rent and to ask if she needed any additional information.  She didn’t answer my voicemail or return my call. […]

lease agreement

Time To Be The Hardnosed Landlord?

I knew that this post would come up eventually, but I was hoping that it would not occur for some time. You might remember that I purchased an investment property a few months ago which came with a tenant. The tenant receives most of her rent subsidized for her since she has terminal cancer. Rent in the state where I own the property is cheap and she now has about 85% of her rent subsidized, so she is responsible for a relatively small amount of her rent. She is also responsible for paying her own utilities.

When I purchased the home I gave her a six month lease to see if we could deal successfully with each other. Her lease ends at the end of this month, and we were just discussing a possible renewal when I realized something…She has not paid her rent on time once within the nearly 6 months since I’ve owned the house. The portion that the state subsidized arrives 2 weeks early directly from them, but her portion has never been on time. In fact, her September payment was “lost in the mail” so it was combined with October’s rent which I received 8 days late and only after calling her. […]