My favorite thing about being a landlord
Okay, so of course everyone says that there are good things and there are bad things about being a landlord.
The bad things always seem to involve toilets or plumbing problems -- leaky faucets, leaky sinks, clogged drains, sewer issues, etc.
But, of course the best part of it all is when you collect those rent payments.
And today is the 25th of February and I received not one, but two rent payments for March already. Yes, from two different tenants!
I'm going to enjoy this little moment while it lasts!
Comments (15)
Ok Dawn, Thanks for this post because I've been a little down lately. Just had to replace the 3rd water heater this month already and last night hire a plumber to clear out the sewer line at a duplex because the basement is full of "s***" cause people use industrial strength paper towels for toilet paper. Just glad there are people willing to clean up the mess. And yes, rent collection is a pretty sweet reward.
Dorothy York, over 10 years ago
Dorothy, as landlords we always see things break. Nothing lasts forever. This winter I've had to deal with replacing a furnace and repairs on 3 other furnaces. We've had an especially cold, brutal winter. Plus replaced a water heater. And had ants decide they wanted to come into one of my rentals. And plumbing problems. But it's okay because everything that gets replaced adds value to the property and the tenants are ultimately paying for it with their rent.
Dawn Anastasi, over 10 years ago
I have one tenant who pays on the 15th of the month before rent is due every month, expect once when it took him until the 20th and I got a bit worried. Ahhh, If only every tenant could be like him...
Andrew Syrios, over 10 years ago
Awesome, Dawn! I think you should take credit for it. Well-screened applicants hopefully turn out to be well-behaved tenants. :)
Ben Skove, over 10 years ago
Dawn: You may be on to something about February! On the eve of Landlord Appreciation Day, I have received rent from six of our eighteen tenants!! It's not the weather; still -20C these days. Perhaps is the lengthening day? I'm thinking, more probably it's the fact Spring Break is next week and folks were headed away on vacation early.
Roy N., over 10 years ago
Congrats
Billy Hills, over 10 years ago
Okay, well apparently February is a great month for EARLY payments -- just received ANOTHER early rent payment today!
Dawn Anastasi, over 10 years ago
The late payers used to annoy me until I learned to embrace them. Now, a late fee is assessed and will not be removed if I have sent a Demand for Possession. All late fees go into my Liquid Fund. I use the Liquid Fund exclusively to purchase nice Scotch.
Jeff Rabinowitz, over 10 years ago
Some people turn lemons into lemonade. You have a "harder" variety!
Dawn Anastasi, over 10 years ago
Jeff: I like your thinking ... though I might not describe it as a liquid fund in the lease ;-)
Roy N., over 10 years ago
We have a young couple - our newest tenants - who always pay around the 25/26th of the month. Then we have the other end of the curve who are always 3-4 days late and always complain bitterly about being assessed a late payment fee.
Roy N., over 10 years ago
I still remember the first time I received an early rent payment. I was like "What's this?!? Why did they send me money?" Then I realized..."OH, this guy's got it down." He's always a few days early on rent which is awesome. (He's also a PhD candidate...)
Liam Goble, over 10 years ago
Euphoria lasts until the 2nd or 3rd when you have to make the couple WTF?! calls for the ones that are late. :)
Shaun Reilly, over 10 years ago
My favorite thing about being a Landlord would be receiving rent payments. If it was not for receiving Early rent payments!!!
James Wise, over 10 years ago
Yes Ms. Anastasi, savor the memory.
Al Williamson, over 10 years ago