Try your hand at maintaining a property other than your residence. I sure as hell can’t keep up with my own home, let alone another.
maintaining a property
Your mistake is in framing “owning a property” as “maintaining a property”.
I sure as hell can’t keep up with my own home, let alone another.
This is exactly the problem. Many people will rent out their building, and not be up to the task to keep it habitable.
I worked in a grocery store, a bar, a coffee shop, a restaurant and a big retail store, so yeah — I’ve “maintained” a property before.
Also, I have called maintenance many times in my life, ive literally never met a landlord. In fact the only time I ever interacted with a landlord was when I was hospitalized and lost my job, and was late paying my November rent because I was unconscious and my landlord text me that I had ruined his family’s Christmas 👍
I worked in a grocery store, a bar, a coffee shop, a restaurant and a big retail store, so yeah — I’ve “maintained” a property before.
In what position? Did you fix the refrigerator when it broke down? Or did you call a repair company? Did you choose the repair company, or call a pre-approved company? How many quotes did you get before hiring the repair men? Was it prepay, or post pay billing or what? Did you handle licensing and permits and annual inspections? Did you fix the plumbing when it broke? Did you manage the building leases and speak with the property owners? Did you create a budget for repairing? What kind of depreciation schedule did you use? What did you do when the pipes froze?
Did you fix the refrigerator or call a repair co?
Does a landlord?
How many quotes did you get
Depends on the position. In one role I project managed the expansion to a new location - we got a lot of quotes on a lot of items, in another I had a soft-procurement role to get various supplies and we’d regularly review suppliers, in another still i worked in tandem with a 11 separate buying teams with separate buyers, merchandisers and supply chain managers.
Then you ask me a bunch of questions about terms. There were sometimes different contract terms, but mostly net30 invoices or similar that sometimes we honored and sometimes we pushed due to cash flow considerations.
Did you fix the plumbing? Manage leases?
Does a land lord?
Did you speak with property owners
i have spoken with quite a few people in my time
Did you create a budget?
Yeah, yeah, I created a budget on behalf of my landlord. He was very keen to share his personal finances with me, something that often happens in landlord/tenant relationships and is very normal and good
What kind of depreciation schedule did you use?
Doesn’t everyone use P527? What else do you need, or do you provide a classic car to every tenant?
What did you do when the pipes froze?
Shaka when the falls well. Temba, his arms wide.
The landlord doesn’t do all repairs themselves, they pay someone to do repairs. Most regular maintenance of the property is the responsibility of the tenant. That’s why people treat investment properties as passive income, because effectively they are.
That’s the job of the handy man. If the landlord is too cheap to hire enough staff for his company, then he has multiple jobs.
If the landlord is too cheap to hire enough staff for his company, then he has multiple jobs.
Like a small business?
Yep, exactly. But unlike most small business, they provide a service that could literally be the life or death of someone if done wrong. So maybe consider it like a small medical provider.
And that’s why they should be held accountable for doing a good job.
You’ll be downvoted but you’re correct. Being a (good) small time landlord for affordable housing is a full time job as well as basically being on call 24/7. Unfortunately when a corporation does it, it has the power to bleed everyone dry.
Well my landlord is some foreign company, they pay a local maintenance company which manages the apartment. Of course the costs come back to me as the renter. Now the landlord gets free money just because they had enough cash to buy the apartment in the first place. And when they are done printing money, they’ll just sell the apartment for more than they bought it before.
