Please Help Just Starting Out

[Account Closed]

Ok so My father is a owner of a few properties, And he has made me the landlord of them. He has thrown me into a GIANT MESS! I have no clue what to do. He moved these tenants in with no lease or anything, He is leaving everything up to me, He doesn't even know the first and last names of the people he moved in. I am so beyond stressed. I have been doing this for maybe a year now? People are paying their rent so late, I have a guy living in a house who hasn't paid rent in over 5 to 6 months, (He is a family friend so my father is having a tough time putting him out) We have another guy who is a very shady character who my father moved in who is behind on rent. And i am just so lost and am looking for help how to organize this giant mess, Do i need to give out receipts? How do i fix this mess my father has thrown me in. These guys are use to this pay when you get it type of deal my father has thrown me in. Please any advice on what i should do? I am 23 years old and have NO! idea with what i am doing.

[Emily Dixon]

Hi Daryl! Oh my what a mess for a 23 year old to deal with! Here is some advice on how to reduce the stress a bit.

Start this way just so you can look at big picture and break down steps to not have it be so overwhelming:

Write down each property address on a piece of paper. Leave space for notes.

Make notes on each property. Who lives there. Are there any problems with that property. What is the rent for each property. This will help you make a plan.

Making a plan is important to being organized and reducing your stress. Make priorities for each property. For example non rent paying guy is probably priority one. Since he is a family friend try first to have a sit down face to face serious talk. Tell him this is your dads source of income and you need to have a rent paying tenant in there. offer to find him a room for rent in the local area if you have to. If he doesn't cooperate then you will have to evict him. Even if you have no lease in place you can still use standard eviction procedures for your area. If he never paid ANY rent, never paid ANY utilities he is a trespasser and it is easy to get rid of him. But even if he paid one dime in the past you have to treat like regular tenant.

You can do this!!!! Take a deep breath. Realize that there are some things that need to be ironed out but it will not always be this stressful. You can get it organized.