Alberta Landlord / Tenant Questions / FAQ

[R-Audi]

Fvck I hate dealing with tenants.

Tenant was late on rent... finally get a hold of him and he lost his job and is already 90% moved out with zero notice.. deposit is used to cover rent, but now I dont have anything in case there is damage...

As luck would have it:
-Condo had wall mounted speakers all mounted to a central RCA wall gang. Tenant said speakers didnt work, so he unscrewed four of them from the wall and threw them all out. Including a free standing center speaker and sub! He thought this was ok?!?! Oh, and most of the wires were pushed back in the wall!! Sounds a little fishy to me.
-Met with him last wednesday for a walk through. Still a ton of shit laying around which he promised to have out and cleaned saturday and dirty. Fast forward to today, still havent heard from him and not returning calls or emails. Heading there this afternoon, but guessing nothing is done and it will now be my job.
-All of the above, plus he still has a set of keys, a fob and the garage remote. At least have the decency to return that!!

Merry XMas.

[killramos]

What a great asset class

[suntan]

The only reason I own real estate is because I require shelter.

[TomcoPDR]

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What a great asset class

Exactly. Someone is paying your mortgage off and making you rich
@R-Audi sorry to hear.

[killramos]

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Exactly. Someone is paying your mortgage off and making you rich
@R-Audi sorry to hear.

You’re richer than you think

[Pauly Boy]

Man it's stories like this that keep me up at night about our rental. We screen pretty throughly, but you never know.

The only reason we're doing it at all is because we used a CMHC downpayment assistance program 10+ years ago and we owe it back if we sell before year 19. That and we'd have been underwater selling when we bought our house since we bought at the then boom.

Otherwise I don't get why you'd want the headache... And if you're rich enough to throw money at a property manager or eat vacancies, why wouldn't you put that cash into an ETF instead of a slum...?

[killramos]

What. Don’t you want to be RICH?

[gwill]

make sure to track the guy down at whatever new job he gets to serve his papers(lawsuit). Make sure his bosses know your there looking to serve his employee. Might make his bosses rethink his employment.

[suntan]

Man you landlords have a lot of free time.

[ExtraSlow]

Track down his dad.

[88CRX]

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The only reason I own real estate is because I require shelter.

This x 100.

[Disoblige]

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Track down his dad.

Exactly.
And all his uncles and possibly grandpas. No stone unturned. Or rectums I should say.

[R-Audi]

Small update:
I got the keys back.... so thats good. But condo it still a mess and there is a bunch of stupid little things that need repair or replacement. Who takes sink drain plugs?!?!? Or removes the rubber cabinet bumpers?

Worth noting, this is the first issue Ive had renting in over 12 years. Im usually pretty good with screening tenants. This was an engaged couple here on a work and school visa and seemed quite nice, but famous last words. Im not really in this by choice, I bought the condo 15+ years ago and it turned out to be a shitty buy.. current value is less than when I bought it (few years prior to the boom) and Ive already refinanced and took money out, so I need a year or two more so then I can liquidate it without being under water with the mortgage. Generally speaking it rents very quickly, as its a great location just off 17th and 4th.

[max_boost]

Sucks man but stay strong. You’re a good dude.

[Rocket1k78]

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Exactly. Someone is paying your mortgage off and making you rich
@R-Audi sorry to hear.

Theres risks involved and a lot of land lords cant hack it but for lots its as you say @TomcoPDR . Been doing this about 15 years now and had a run in like you @R-Audi early on, even took the bastard to RTDS and they still ruled in his favor, i was only out 1500 so not too bad compared to most.

[88CRX]

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Small update:
I got the keys back.... so thats good. But condo it still a mess and there is a bunch of stupid little things that need repair or replacement. Who takes sink drain plugs?!?!? Or removes the rubber cabinet bumpers?

Worth noting, this is the first issue Ive had renting in over 12 years. Im usually pretty good with screening tenants. This was an engaged couple here on a work and school visa and seemed quite nice, but famous last words. Im not really in this by choice, I bought the condo 15+ years ago and it turned out to be a shitty buy.. current value is less than when I bought it (few years prior to the boom) and Ive already refinanced and took money out, so I need a year or two more so then I can liquidate it without being under water with the mortgage. Generally speaking it rents very quickly, as its a great location just off 17th and 4th.

I was in a similar situation but after dealing with a shitty tenant and condo board spat I sold, took my equity, and ran. Start the fucking car! Best decision I ever made.

[TomcoPDR]

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Theres risks involved and a lot of land lords cant hack it but for lots its as you say @TomcoPDR . Been doing this about 15 years now and had a run in like you @R-Audi early on, even took the bastard to RTDS and they still ruled in his favor, i was only out 1500 so not too bad compared to most.

It's such a crapshoot industry

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and Ive already refinanced and took money out, .

Such a classy gentleman you are as always @R-Audi , enjoying the perks of HELOC, without needing to scream HELOC in our faces