Posted by gun guru on June 27, 2011 at 14:59:57 from (75.128.139.102):
In Reply to: Rentals posted by oldironman on June 27, 2011 at 05:05:01:
I cant imagine the nightmares in renting a home or apartment, other then what I have been told by my old boss. My old boss owned 4 rental homes in the city of Detroit. (Yep Detroit) Every year he would lose 1 month of rent per home due to late payment, no payment and every excuse you can imagine. Every time a tenant would move out he would do the following: Sand/refininsh hardwood floors, (all had hardwood I guess) Do a cheap repaint with $5 per gallon paint, the cheapest he could find cause the people renting were losers anyway and it was going to be trashed. He carried $1 million in liability for each home due to those types of people will sue for anything. After he was laid off in 2001 he sold all 4 homes to a company called Rentco I think just to unload them and get the cash. He bought each home for less then $5000 in the 1980s. I would never rent to anyone that was not at least married (and caucasian) and the home was in an upper class area where an executive or high ranking person needed a home, $1,500 per month minimum rent. And of course NO PETS.
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