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Nobody Loves A Landlord

The typical landlord starts off life as a lighthearted real estate investor. The investor isbrimming with enthusiasm and is determined toacquire some single family homes that will beattractive to renters... and start down the roadto financial independence.

Then... Wham! Reality smacks them right inthe face! The investor-landlord is fair game foralmost everyone.

Why? Because nobody loves a landlord.

It's bad enough that many renters don't quite understandthat without their monthly rent payments the landlordcan't make the mortgage payments on the property.

A few renters are surprised to learn that the family room of arental home was just not designed as the place to rebuildmotorcycles.

Nobody loves a landlord.

And then... how many legal hoops must the landlord jumpthrough? In most states tenant/landlord law favorsthe tenant in many ways

For example:

A tenant signs a one year lease. Six months later thetenant breaks the lease and moves. Now the law demandsthat the landlord find a new tenant for that unit asquickly as possible.

Yes, the tenant only has to pay rent until the new tenant is found... but the burden falls on the landlord. Why shouldn't the tenant... the one who broke a contractual promise have to find the replacement tenant?

Why? Because nobody loves a landlord!

Here's the first paragraph of a story in my morning newspaper

"A huge marijuana garden of 212 plants nurtured by an intricate irrigation and lighting system worth ten of thousands of dollars was uncovered inside a West Valley rental house Saturday."

The house was vacant except for the cash crop and I can'thelp but wonder if the growers were getting governmentfarm subsidy payments?

The home has an out-of-state owner. Some poor investor whothought he would cash in on the fast-rising Arizona home values.

Here's the kicker. That investor could be held responsible, becausehe did not properly supervise the use of the property! Many areashave such laws.

Why? Because nobody loves a landlord!

This should be a reminder to all of us that a rental house orunit is not a set-it-and-forget-it investment. Every good leaseor rental agreement has an inspection clause that allows thelandlord or his representative to periodically enter and takea look at the condition of the premises.

Are you doing that? You should be, because...

Nobody loves a landlord!

About the Author: Mark Walters is a third generation real estate investor who shares his experience from his Web sites:http://www.lease-option-sub2.com
http://www.CashFlowInstitute.com

MORE RESOURCES:

ERA Pacesetter closes real estate business - Bizjournals.com

Learn to Profit from Real Estate - Even in Tough Markets - MarketWatch

Tokyo Replaces Shanghai as Best Asian City to Buy Real Estate - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/2-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601101%26sid%3DaIP5Kj6fVj6M%26refer%3Djapancid=1277107960ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFpOvqf2W_l1v1XOA1Mn8B-qefnJQTokyo Replaces Shanghai as Best Asian City to Buy bReal Estate/b/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-14 (Bloomberg) -- Tokyo overtook Shanghai as the best Asian city to buy breal estate/b as investors seek less risky investment for 2009, a survey by the Urban b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/2-1fd=Rurl=http://www.reuters.com/article/marketsNews/idUST27950420081203cid=1277107960ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFlT_9TPt_jxgiZWpTUgKjYZsvZAQKeen to invest in Asian breal estate/b, consider Tokyo/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277107960hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Nokomis Real Estate Ventures LLC files bankruptcy petition - Bizjournals.com

Neuberger Berman Real Estate Securities Income Fund Inc. Announces ... - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.marketwatch.com/news/story/Neuberger-Berman-Real-Estate-Securities/story.aspx%3Fguid%3D%257B618BBA1C-45ED-4BC6-A6AA-A656072847FF%257Dcid=1277177500ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGzxGViIk77wF-2GOHSM5yFmB1fWwNeuberger Berman bReal Estate/b Securities Income Fund Inc. Announces b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1b.../b in the markets for its portfolio securities, and in particular, common and preferred stocks issued by bReal Estate/b Investment Trusts (quot;REITsquot;). b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.privateequityrealestate.net/Article.aspx%3Farticle%3D32713%26hashID%3D8697775C1753C89C506498F68C04E826E639DD49cid=1277177500ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNEaSpEJjpuoOPTSVhjLOTvFZKO-uAMarshall to raise $500m for Russian breal estate/b/a font size=-1 color=#6f6f6fnobrPrivateEquityRealEstate.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-2fd=Rurl=http://www.webwire.com/ViewPressRel.asp%3FaId%3D81322cid=1277177500ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGJlqyr3hbOl_4qDESm6HtoH0pmGgMarshall Capital Partners launches new $500 million fund for b.../b/a font size=-1 color=#6f6f6fnobrWebWire (press release)/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277177500hl=ennobrall 9 news articles/nobr/a/font/div/font/td/tr/table

UPDATE 2-Sibir market value halves on real estate buy - Forbes

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/5i-0fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHDce8-7GBktAHN0--rc9dti_Ex7Aimg src=http://news.google.com/news?imgefp=G0Z9onrcFO0Jimgurl=static.guim.co.uk/sys-images/Business/Pix/pictures/2008/12/03/sh4.jpg width=80 height=48 alt= border=1brfont size=-2guardian.co.uk/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.forbes.com/afxnewslimited/feeds/afx/2008/12/03/afx5771724.htmlcid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFrye8Bz9sm-sC-cPoUti_lTYp75AUPDATE 2-Sibir market value halves on breal estate/b buy/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1Sibir had already outraged minority shareholders when it said in October it would buy some $157 million worth of breal estate/b from its key owner, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.reuters.com/article/rbssEnergyNews/idUSL364626620081203cid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHIq_sabqIXBiNgio9H1hptCMBAWwUPDATE 1-Sibir shares sink 30 pct on breal estate/b buy/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://en.rian.ru/business/20081203/118667008.htmlcid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGw8UIMHmvvCg-eQuX8ItvFu6M-3QSibir Energy to buy $340mln breal estate/b assets from developer - 2/a font size=-1 color=#6f6f6fnobrRIA Novosti/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-3fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaS_Y7fzEKDYc%26refer%3Dhomecid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFouUDQMEK14CH0Dp8M27NiA27mFASibir Plunges 57% on Russian Billionaire ‘Bailout’ (Update4)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/5-4fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHDce8-7GBktAHN0--rc9dti_Ex7Anobrguardian.co.uk/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/5-5fd=Rurl=http://www.themoscowtimes.com/article/600/42/372867.htmcid=1277136024ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFifHFIlWuYXUFEtTGCMnL3bkwnRwnobrThe Moscow Times/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277136024hl=ennobrall 85 news articles/nobr/a/font/div/font/td/tr/table

Whitehall Funds Lose Their Luster - Wall Street Journal

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/6-0fd=Rurl=http://online.wsj.com/article/SB122826598899374457.html%3Fmod%3Dgooglenews_wsjcid=1277094278ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGctsxv7rKtdgmQOanj8f5Qb84m0AWhitehall Funds Lose Their Luster/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobr20 hours ago/nobr/fontbrfont size=-1By ANTON TROIANOVSKI and LINGLING WEI Goldman Sachs Group Inc.#39;s Whitehall family of breal-estate/b funds is struggling with weak performance and potentially b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-1fd=Rurl=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0351371720081203cid=1277094278ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHeBfnoXi6skxvHzH04RlJCZ6jRlwGoldman Whitehall head warned of firm#39;s exposure/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-2fd=Rurl=http://www.reuters.com/article/marketsNews/idUSBNG24933320081203cid=1277094278ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHirKHdy7cdyQ7D1dN8pltXgHdO6QGoldman Whitehall funds hit by property slump-WSJ/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277094278hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Freedom Interactive Launches New Real Estate Vertical - Destin Log and Walton Log

Inland Real Estate Auctions, Inc. Sells Industrial Site in Seneca ... - MarketWatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.marketwatch.com/news/story/Inland-Real-Estate-Auctions-Inc/story.aspx%3Fguid%3D%257B11D52A18-4076-4474-9C4A-F7F53F1C183D%257Dcid=1277200823ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGXvTSN__s75lTc6t_Oawg2MvvBwQInland bReal Estate/b Auctions, Inc. Sells Industrial Site in Seneca b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1One of the nation#39;s top auctions firms, conducting transactions from coast to coast, Inland bReal Estate/b Auctions, Inc. is a leading provider of accelerated b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.marketwatch.com/news/story/KPMG-Corporate-Finance-LLC-Taps/story.aspx%3Fguid%3D%257B0B78E8A1-8AEC-4007-AF82-59A1AB3B7581%257Dcid=1277200823ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNESVL84d_3ffOo6Cm5X5NYa9iX-oAKPMG Corporate Finance LLC Taps Renowned Auctioneer Frank J b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277200823hl=ennobrall 11 news articles/nobr/a/font/div/font/td/tr/table

What Lies Ahead In The Real Estate And Financial Services Industries - The Metropolitan Coporate Counsel

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/9i-0fd=Rurl=http://www.wjbf.com/jbf/news/national/national_govtpolitics/article/auditors_fault_u.s._treasury_department_oversight_of_bailout_funds/9167/cid=1276839629ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNGxVsnxWrWJiEUzQwCaH4dkZjbxyQimg src=http://news.google.com/news?imgefp=dlbGXJyqmt4Jimgurl=media.wjbf.com/img-story/images/uploads/080926_bailout530.jpg width=80 height=53 alt= border=1brfont size=-2WJBF-TV/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.metrocorpcounsel.com/current.php%3FartType%3Dview%26artMonth%3DDecember%26artYear%3D2008%26EntryNo%3D9115cid=1276839629ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFkwfOwum-IuuNTMrPqKzeUj4GY5wWhat Lies Ahead In The bReal Estate/b And Financial Services Industries/abrfont size=-1font color=#6f6f6fThe Metropolitan Coporate Counsel,nbsp;NJnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1The Editor interviews Dominic De Simone and David Barksdale, Partners in Ballard Spahr#39;s bReal Estate/b Department in the firm#39;s Philadelphia and Las Vegas b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.opednews.com/articles/Paulson-shoots-another-arr-by-Andrew-Hughes-081203-438.htmlcid=1276839629ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNFYfuNV7_LZMVM_csNpIdCFWCk5ngPaulson shoots another arrow in to the heart of the Economy/a font size=-1 color=#6f6f6fnobrOpEdNews/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://industry.bnet.com/financial-services/1000217/financial-roundup-landamerica-leaves-investors-hanging-gao-urges-faster-bailout-controls-small-business-credit-available-go-bankrupt-and-face-the-sec/cid=1276839629ei=AC83SceuH6LFmQehpO2vDwusg=AFQjCNHaCWIVucLhJm1gkj3DtFOCPbL9WQFinancial Roundup: LandAmerica Leaves Investors Hanging, GAO Urges b.../b/a font size=-1 color=#6f6f6fnobrBNET/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276839629hl=ennobrall 484 news articles/nobr/a/font/div/font/td/tr/table

Real-Estate - Google News

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