A true story from one of our current ACLs tells of an incident he encountered at one of his properties owned prior to becoming an Armchair Landlord.
The tenant was coming to the end of their lease. The landlord needed to provide notice to the tenant of a nominal rental increase in order to renew the lease. He knocked at the door and as he was informing the tenant of the rental increase the tenant got mad and spat in the face of the landlord! Unbelievable, right? Sadly, this sort of behavior happens all too often with bad apple tenants and traditional rental properties.
We have heard countless stories of destroyed properties, partying tenants, and unbelievable repairs. Many seasoned landlords (including this author) have experienced it all. This is yet another reason why being an Armchair Landlord is the most ideal way to invest in real estate. Not only do you avoid having to deal one-on-one with the tenant, but the tenant-buyers have a vested interest in maintaining the property for their own future goals. It is truly a hassle free …and spit free … way to grow your real estate portfolio.