New Landlord -- Repair Headaches Already

[Kristann Montague]

Hi all,

Forgive me but this is a rant. I'm a newbie RE Investor; I just closed on my first rental property (2 bed, 1 bath SFH) on 9/26. I was very fortunate to get a renter lined up before closing, and she moved in last weekend (9/29). I was particularly excited because I had a full months' rent paid a month before my first mortgage payment was due, and that was going to be the start of my contingency fund.

A couple of days after moving in, my tenant called me to say the bathtub wasn't draining properly. I authorized her to call a plumber to check it out, and the plumber just came by today; it turns out that the entire tub drain assembly needed to be replaced. While he was there she mentioned having a question about the washing machine not working quite right, and he also checked on the washer (he replaced hoses, which were old and not working properly, and cleaned out the drain area). The bill came to $1500. Thank goodness I had that first month's rent, because that just about covered the repair bill (rent is $1150/mo.). So, I'm starting off my landlording life in the red by $350!

I'm pretty sure it's too late for me to go back to the sellers to pitch in for the repairs (I seriously doubt they knew about the problems, as they were prompt to fix everything on the inspection punch list). The house was vacant for several months during the buying process, and I wonder if that contributed to the problems.

Anyhow, I'm having a bad day, and hoping this is not the start of being bled dry with problems. I knew going in that being a landlord means dealing with stuff like this, but I was not expecting to have problems/expenses like this right off the bat. Live and learn....arrgggghhh.