The sideways stink eye…

About once a week I drive past the house I use to rent. To say I have mixed feelings about the place is an understatement. Even with just me, two dogs, and a tortoise living there it felt cramped. The interior was too dark, it was too close to a heavily traveled road, and the mechanicals were all of an age where they just stopped working with little or no notice. Still it had the benefit of having a fence and being available exactly when I needed it. When you’re traveling one day ahead of a tractor trailer filled with your belongings, don’t underestimate just how much availability counts.

Last weekend when I drove past there were at least seven cars in the driveway. Like I said, the place felt cramped with just one of me. I find it hard to imagine what it would feel like inside even if each one of those vehicles represented only one person. It occurs to me that too much togetherness is definitely a real thing. Not my house, though, so not my problem.

The real pain came when I slowed down enough to eyeball the old place. Whoever’s living there now has let the landscaping go. Flower beds are overrun. Fence posts have collapsed. Shrubbery has grown up over the windows. Not one of the trees looks like it’s seen a pruning lopper since mine.

I spent the better part of four years beating what was then an overgrown mess of a landscape into a semblance of neatness and order. Sure, I did it on the cheap – cutting back some things, transplanting others, removing even more and hauling it away or burning it off – but the place was just a rental after all and throwing big money at it didn’t make sense. With a few basic tools and a bit of effort, though, I’d made the place look respectable.

The current residents have apparently given up on all that. It’s probably not entirely right to judge someone by the yard they keep, but I do… especially when it happens to be one that I left in good enough shape that it could be maintained with less than an hour’s work each week. Right or not, that tells me something about these new residents. It tells me all I need to know really.

It’s a damned good thing I’m not the landlord. Fortunately, it’s not my house and not my problem, but that doesn’t keep me from giving the place a sideways stink eye every time I drive past.

What Annoys Jeff this Week?

1. No phone. While I don’t consider myself an “addict”, most of my life is tied up on my iPhone – names, numbers, calendars, messaging apps, and basically all the things that one uses to keep track of the modern world. Finding myself without it ranges from a minor annoyance to utterly intolerable depending on what I happen to be trying to do at any given moment. If anyone needs me I’ll be spending the next few days trying to replace the capabilities of my iPhone using an archaic and problem-prone laptop with a connection to the internet that’s suspect at best. Might as well be living in 1989 like some kind of barbarian.

2. The plight of the tenants. Washington Post article about the sad story of tenants who are evicted… after “only” not paying some part of the rent, doing it, repeatedly, or committing other violations of the lease agreement. That’s well and good, and my heart bleeds for them, but for the love of pete, when a few paragraphs later I read that 98% of one of these people’s rent was being subsidized and they couldn’t come up with the remaining 2% I’m kind of out of sympathy. Rentals don’t maintain themselves. Tenants cause fair wear and tear in addition to often more wanton destruction. It all takes money to correct and restore to rentable condition. It strikes me that the people who are most often taken in by these sad tales of renter woe have never had the experience of being a landlord with their own bills to cover.

3. Anti-punctuality. When I tell you I’m going to cal at three o’clock, that’s exactly when I’m going to call. It won’t be “around 3:00,” or “three-ish.” It will be three o’clock. For good or bad my mind puts a premium on punctuality. It’s important if for no other reason than to demonstrate that you are taking the other person seriously. Lack of it, especially in a situation where I am going to be spending thousands of dollars with your company, makes me question your professionalism and the future of our potential business relationship.

Striking it rich…

There’s an unfortunate assumption that if you have rental property you must, by some unwritten rule, be rolling in cash. It’s been my experience that there are really only two ways to strike it rich through rental property; either you have 100 of them to smooth out the cash flow from month to month or you operate more as a slum lord than a landlord. Those two possibilities, of course, are not mutually exclusive as it is entirely possible to do both at once.

Where you’re never going to strike it rich is in owning just one. The good years are the ones where you break even after expenses. The great years are the ones where you get enough of a tax deduction to maybe show a tiny slice of profit. For the most part, what comes in goes right back out in maintenance expenses, management fees, taxes, mortgage, insurance, and home owner’s association dues.

Owing a rental is like owning a bulldog in a way – both are things I wouldn’t recommend anyone try for themselves. Avoiding them both will save you a whole lot of heartache… and I’m not just saying that because my property manager called tonight to tell me the heating system is shot and needs to be replaced the same week I’m planning on financing knee surgery for a dog and two weeks after paying off a contractor to make sure a river doesn’t flow through the garage and cause my basement to become an indoor swimming pool.

Enough all ready. Fate, chance, or whatever gods control such things are really starting to get on my last nerve. Sigh. I’m never going to get my new bathroom at this rate. Sadly, I’m not a slum lord. Heat is important. And winter is coming.

What Annoys Jeff this Week?

1. Landlording. It’s one of those things that seems like a much better idea before you actually do it. There are those occasional times when everything is good – the rent is paid on time, nothing breaks, and for at least one month you can show a positive cash flow. Then there are all the other times – when you’re replacing a stove, having the whole place painted, fixing problems that people cause because they don’t give a damn since it’s not really “theirs.” Worse, you’ll catch those months when you’re between tenants and every nickel being spend is being taken out of hide. You’re doing all that in the hopes of making it livable as quickly as possible so the cycle can start over and there can be more repairs, more late rent, and more trouble all over again. Let the record show that I’m throughly looking forward to the day I can get out of the landlording business almost as much as I’m looking forward to the day I can get out of the being a tenant business.

2. Permission to speak freely. Jeffreytharp.com has been, is now, and will always be a place that reveres the basic principles of freedom of speech. Since turning the switch on this site, I’ve never had to drop the ban hammer on anyone. I hope that I’m never given cause to do so. With that being said, I’m starting to hear the barest rumble of a rumor that has the potential to curtail what I am at liberty to post and discuss here with you. Whatever comes, you have my personal promise that I will continue to use this site to advocate those issues about which I feel strongly, to discuss the day to day stupidity of life, and yes, even to provide commentary on those things that others wish would just be left alone. I don’t come here looking for a fight, but if one finds me here I suppose I’ll have no choice but to close with, engage, and decisively defeat the threat. Easier said than done, I’d imagine, but still worth doing.

3. Always needing a third thing. It’s not OCD, but having a third annoyance for the week always feels like it round out the post. Sometimes, though, I don’t have a third thing so much as I have a dozen small things that individually wouldn’t rate a mention. That doesn’t make for great reading and it makes for even worse writing, so I’m making an executive decision to skip the third thing tonight. So there.

Landlording ain’t for wimps…

Everyone assumes that when you have rental property you’re making money. That hasn’t exactly been my overall experience, but I accept that it’s the general perception of how things work. Most of the time, the cash flow from the condo in St. Mary’s offsets the giant sucking sound that is the negative cash flow coming out of Memphis. Between the two, I come fairly close to breaking even more months than I don’t. Of course then we have the occasional singularity in which both the condo and the house are sitting vacant at the same time.

That moment you realize it’s about to happen is probably one of the few times in life you’re ever going to seriously consider becoming an arsonist as a valid career option. When you go from happily paying rent and breaking even on everything else to sucking wind on rent plus two mortgages, let’s just say that all the fantastic financial management lessons you’ve learned from Suze Ormond or Dave Ramsey go right the hell out the window. The only thing that matters at that point is how fast you can bring cash in the front door and how fast you can shovel it out the back. It’s not so much a case of planning as it is an exercise in crisis management and triage.

Fortunately, the two leases almost never expire at the same time, but when they do you’d better believe that you’re about to get a serious lesson in why landlording ain’t for wimps.

Rent me…

One of the really problematic bits of no career being able to keep my attention for more than two or three years is the resulting tendency towards collecting former addresses. As part of my collection, two of these addresses are more than just memories since I’m still nominally responsible for their care, maintenance, and upkeep. I wish I could tell you that being a small time land baron is a profitable endeavor, but as anyone who’s ever done it will probably confirm, most years you’re lucky if you break even.

Which is what leads to posts like this one…

You see, I’m currently in the position of having an unoccupied one bedroom, one bath condo available for rent in St. Mary’s County, Maryland. It’s a 800 square foot, ground level walkout unit featuring a wide covered patio area and a walk in closet/pantry for all you extra storage needs. Your $850 monthly rent includes water, sewer, and trash pick up. With an additional deposit, this unit is both cat and dog friendly.

Centrally located in the Wildewood community, this condo offers easy access to the Patuxent River Naval Air Station, Solomons Island, Leonardtown and all the natural beauty of St. Mary’s County. Our Nation’s capital is within reach if you’re a power commuter. You’re within walking distance of groceries and a less than five minute drive from BJs, Target, and other shopping amenities. Better still, you’ll have ready access to the exciting southern Maryland nightlight offered at the Brass Rail, the Green Door, and Solomons’ historic Tiki Bar.

This opportunity won’t last forever, so act now before it passed you by and someone else is living the life you want in the condo you deserve.

For want of a knob…

Last year I was fastidious about winterizing the rental house. Since I’ve been waiting two weeks now to get the go ahead for a simple repair of the faucet/knob assembly in the bathroom, my level of interest in doing anything over and above the basics is pretty slim this time around. That translates into adding some weatherstripping and insulation and a few other odds and ends to save on the winter’s electric bill. Anything over and above that is just not going to happen. For the last 18 months I’ve been doing my best to treat the place like it was mine. Since that doesn’t seem to be getting anywhere, well, if it’s not a hazard to life and welfare I guess I’ll just go ahead and let it fall apart. It’s a pity that it’s got to be that way, but I can’t see myself expecting any less from my landlord than I expect from myself as a landlord. Silly expectations.