- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
School me on becoming a landlord
Posted on 6/17/26 at 3:50 pm
Posted on 6/17/26 at 3:50 pm
Just leased a condo I own. Cash flow is 15% over mortgage, insurances, taxes etc. I understand the financial part of this, more on day to day operations or things you wished you would have known when you started out with rental properties.
You never know, but I was selective with my tenant and feel pretty good there.
You never know, but I was selective with my tenant and feel pretty good there.
10
Posted on 6/17/26 at 3:53 pm to CPA Yung Boi
Understand that they will not treat your property as if it was theirs
Posted on 6/17/26 at 4:46 pm to CPA Yung Boi
If you give them an inch they will take a mile.
Really depends on the economic class that will be renting. The lower the rent the lower rent problems you have. Expect pets to be a problem when they leave. And charge enough of a deposit that it hurts if they leave the place unsanitary.
Really depends on the economic class that will be renting. The lower the rent the lower rent problems you have. Expect pets to be a problem when they leave. And charge enough of a deposit that it hurts if they leave the place unsanitary.
Posted on 6/17/26 at 4:50 pm to CPA Yung Boi
quote:
You never know, but I was selective with my tenant and feel pretty good there.
This is a good start. BE SELECTIVE
Posted on 6/17/26 at 6:05 pm to CPA Yung Boi
quote:
things you wished you would have known when you started out with rental properties.
The air conditioner is gonna go out.
They’re gonna flush stuff down the toilet that they shouldn’t.
The 15% you think you’re gonna make can turn into 2% pretty quickly.
This post was edited on 6/17/26 at 6:08 pm
Posted on 6/17/26 at 6:20 pm to Tyga Woods
Condos aren’t traditionally friendly to rental conversions. Worst case is the tenant gets sideways with the HOA and he can’t legally get him out, while at the same time the HOA relentlessly hits him with violation assessments.
Posted on 6/17/26 at 6:44 pm to CPA Yung Boi
I was selective with my tenant
---
That's a very good start!
---
That's a very good start!
Posted on 6/17/26 at 7:18 pm to CPA Yung Boi
Be ready to head excuses about not able to pay rent. Lots of it.
Posted on 6/17/26 at 7:33 pm to PeteRose
In Alabama, all of the laws favor the deadbeat renter. You can’t use old school tactics like turning off the power and water. I was an accidental landlord for a time. It’s not for me.
Posted on 6/17/26 at 8:48 pm to CPA Yung Boi
Our neighbors used to have 3 or 4 rentals years past. They told us 1 thing they would do as far far as back round search. Said it wasn't perfect but usually was spot on. When the couple showed up to check out the house, the wife would excuse he. She would go outside and look at their car, especially the interior. Inside of the car looked like trash, probably best to pass.
Posted on 6/17/26 at 10:00 pm to CPA Yung Boi
Dont rent to a friend. Also dont do it at all. Its a constant headache and theres not enough profit in it.
Posted on 6/17/26 at 10:25 pm to CPA Yung Boi
Rent to the applicant with the best grammar.
Posted on 6/17/26 at 10:33 pm to tigeralum06
I have owned rental homes for 40 years and I could write a book on "Why I can't pay my rent on time and you should be OK with it".
If you let late fees slide once you are cooked. Non-refundable pet deposits are a must.
If you let late fees slide once you are cooked. Non-refundable pet deposits are a must.
Posted on 6/17/26 at 11:32 pm to CPA Yung Boi
It will start with not changing batteries in smoke alarm. Never knew people could live with that constant chirp until I rented out a home. Then clogged sinks or toilets. Stained carpets and wall damage won’t be too far away.
That 15% can get single digit pretty fast.
That 15% can get single digit pretty fast.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News