Contrarian Landlording

[Ihe O.]

I have never paid more than $30k for a house.

I have never run a credit check or asked for a credit report on anybody who has applied to rent any of my properties.

I have never asked a tenant for their SSN, DOB or any other form of PII http://bit.ly/1mmC2Xo

I have tenants who are late every month. I rarely levy late fees even when the tenant is late.

I have never filed for eviction in the same month of a missed rent payment.

I allow pets in all my houses (subject to insurance restrictions)

I reduced the rent  of a tenant who witheld rent, took me to rent escrow court and lost.

I am usually the lone voice on the minority side of discussions relating to these issues.

So how am I doing. 

Well couple of months short of completing my 3rd year. 

Total Rents Collected - about $100k.

Number of evictions - 1

Rent Arrearage - about $2k

Total number of months of vacancy - 9

Total Unrecoverable Rent    - about $3500

I run a business but I do what makes sense to me rather than what everybody else does.

I'm a contrarian landlord. 

Are you?

[Thomas S.]

You are basically operating on borrowed time. Luck is your primary business policy.

I operate my business completely opposite to you.

If I review my last 3 years:

Total rent collected-  approx.- $250,000

Number of evictions - 0

Total months vacancies - 0

Total unrecoverable rent - 0

I am a professional landlord.

Are you?