New Landlord Lesson

[Thomas S.]

Some of you that have read my posts may know my style of managing tenants. I am supper selective in screening tenants and strict with enforcement of rules. I have no loyalty to substandard tenants and believe they should be replaced regardless of the cost. Replacing tenants is necessary if they do not work out and I do not worry about cost (usually negligible).

It's easy to say but harder to do when inheriting tenants.

My son is a new landlord, less that a year, and inherited two tenants. One is perfect the other is bottom of the barrel. Being inherited he had no background info and no history. My son had to chase him for rent every month which is the number one sign of a bad tenant-- Attitude.

Anyway even with my experience and guidance he has issues. The tenant, first of June, gave notice he was leaving the end of June. Done intestinally with a plan to screw landlord. Any time any tenant gives short notice it is with the intent of screwing their landlord, take action quickly. You may initially be relieved they are leaving but the financial pain has not yet begun. Two months notice is required but since my son was glad to see him gone he agreed. Mistake #1 (Never agree to anything contrary to code or out of personal relief).  Tenant then tells him to apply LMR to June. My son has a signed esstopal letter stating he never provided a LMR to his old landlord. Mistake #2 (take immediate aggressive action when tenant is lying).

Tenant has obviously paid first and last to new landlord and has no money and no intent to pay. Stalls my son by promising to pay June as soon as he gets his check (typical excuse to stall landlord). My son gives him a week. Mistake #3 (never give a vacating tenant any breaks). A week passes no check, tenant stalls some more, my son threatens to file with Landlord tenant board. Mistake #4 (never make threats, take action). June 25th tenant says he is waiting for welfare check. Mistake #5 (son should have known tenant was welfare). If he had known my son would have not agreed to anything and would have filed on the 2nd of June.

Son plans to file for June rent on Monday. Mistake #6 (always file for maximum entitlement - two months rent).

My son is new and a gullible landlord even though I have taught him to not do all the things he did wrong. Lessons learned, Maybe but he may be too soft for this business.

He will be screening his own tenant, he knows better than to ever rent to any one on any form of government assistance in the future, he will now have experienced with his first LTB hearing and learn how much of a joke the system is. He will win his case but since wellfarians are a protected low life form he will not collect unless the tenant pays voluntarily. That will not happen as this Ontario welfare recipient has proven beyond a doubt he is a common bottom feeding criminal. Those that like section 8 that is fine but in our system smart landlords never rent to welfare recipients. 

Moral: if you are a new landlord learn the lessons from experienced landlords even if you think you know better. You don't. Accept the fact that you do not know better and that you will be screwed by your tenants. Your business will be dysfunctional if you operate with any degree of TRUST. No tenant is trustworthy, they have zero true respect for landlords and they will screw their landlord without hesitation if their personal situation requires it.

Sorry I can not pay, bank screwed up, lost my job, getting divorced, medical or other bills. All BS lame excuses that amount to screw you Mr./Ms. landlord.