I believe there should be certain rules and laws which talks about the relationship of tenants and landlords. I think the landlord must be protected just as the tenants are protected in some country. I believe it is best to try and understand what exactly cause the trouble and take necessary action against it.
I'd hire a reputable property management company armed with plenty of muscle to deal with anything and everything having to do with tenants - collecting the rent, maintenance and repairs, inspections, notices of evictions, etc. Make sure they do everything by the book and don't hesitate to involve the law when needed. I'd say it's a good idea to keep property ownership under a corporate or trust entity and that ideally your tenants not even know you or your name if possible.
I'd have to agree with JR here. Get someone else to handle the potentially nasty situations and save yourself from any potential harm, whether it's monetary or physical. The more hidden you are from harm, the better the situation is for you most of the time. Fortunately, I'd say that most properties don't see too many problems, especially standalone properties.
Its such things that make me think of wanting to go for shooting classes, buy a gun maybe, or try ju jitsu/karate...yes it was terrifying but am over that now, authorities in the area are backing me up 100% plus now i have trusted real estate agents to manage...no more headaches
As much as gun laws are in place, i beg to side with you, as much as i wouldn't want to hold a gun, i think it necessary for one to protect themselves from any kind of harm!...maybe shoot to injure not kill?!...although the repercussions might be deep
I currently work at a property management company and I can tell you as fact all kinds of things happen with owners as well as tenants. I watched an owner come in and smack the head of maintenance right in the face, needless to say this guy ended up on the floor. One day I looked out the window just in time to see an owner walk by with a rifle, I was on my way out to tackle him when another maintenance worker came around the corner and took the gun from him. I have heard people come in the office and act like they had lost their minds, swearing and ranting like lunatics. I have never feared robbery because we do not handle cash. I personally do not prepare for the worst, I have worked many jobs where really bad things could happen. Jobs where there were fights and the potential for violent crime. One thing I have learned that is powerful is how to talk to someone when they are enraged. The worst I ever had to do was put a woman in a hammer lock and throw her out a doorway. I don't care where you are or what you do in this world, there is always the potential that something bad could happen. You have to be aware of your surroundings and be totally secure in your own abilities. Someone wants to rob you give them what they want and get the heck as far away as fast as you can. If someone is coming at you to hurt you, be prepared to defend yourself, otherwise again get away from them as fast as you can.
You can never tell when this is going to happen.. so you have to be always ready.. physically - and that is why we need to eat healthy and stay fit; mentally - and that is why you have always engage yourself into problem solving; emotionally - and that is why we need friends; and financially - and that is why we need to work. Of course, if you think of say, "what will happen to me when I retire?" you will realize that it is indeed important to prepare for it sooner rather than later. Self realization will make you prepare for the worst. It is worth it.. YES. It maybe difficult today, but you will definitely thank yourself in the future once you are at the "WORST MOMENT".
We always need to be prepared for the worst, but at the same time hope for the best. The capacity in turning bad moments into good ones os what give us greater success possibilities.
I usually do not and that is why it makes me heart broken. I guess that is one thing I should actually start thinking about. Then it would not be so difficult when the times are really low.
JR, I know you were really rich, but didn't you get shot? I cut out my property management agency when they tried to change their own lease with me in the middle of it. They were highly incompetent; in almost every month, they collected 10% of my rent for doing nothing. Hired their hand-picked utilities guys every time, making no effort to save me money. My tenants and I are much happier now. As for nasty tenants, in Europe I watched the downstairs crackhead attack my jerkoff landlord, each trying to shove the other out the front door. Landlord (60yo male) was wearing women's shoes at the time for some reason. I think he had tried to sleep with her when she couldnt pay the rent. Calamity ensued, but I did nothing when he was all, "get her off me!" Good times.
