Mandy, you give such helpful advise that everyone can understand. Thank you.

True that Landlording is far from passive. You will need to be actively managing a property to keep it from degrading.

I'm a landlord 14 years now and it has been expensive at times but rewarding as well, you're a awesome landlord.

Great video as always. I've been a landlord for about three years and have multiple properties. I joined a real estate investors group that teaches how to avoid a lot of these issues. That being said, things still happen. One benefit of our group is that we have vendors that we work with. They understand investors and do a great job at a fair price. If they don't do right, they can be kicked out. I am fortunate to have worked with the same GC for all but one project. I tried another guy, not from our group, and it took 4 months to do a 4 week rehab. I too had a tenant that decided to stop paying rent during 2020. It can be incredibly stressful to be a landlord, but it does get better. As our founder says, "real estate is easy. People are difficult." - Del Wamsley.

Hi. Cheers from Boston. Keep up the good work.

My dog didn't stop chewing the cupboard doors and skirting boards until he was nearly 18 months old - just something to be beware of!

Hi Mandy .I like your content.I’m going to buy my first multi unit rental property. I basically want to know what’s the best structure to do in order to protect your property? Please could you make an brief content about it.

I have found that most of my problems related to being a Landlord, are the tenants themselves. It does wonders to get rid of problem tenants (either tenants that came with a property you bought, or a tenant who became problematic after X years). Sometimes no matter what you do, tenants will always find a reason to complain. The best tenants we have found, are the ones we never hear from unless there is a serious problem.

@jimsmithnyny8905

Жыл бұрын

A new law is coming Any tenant can skip, postpone, cancel rent as per their convenience

@robertstraw9881

Жыл бұрын

Out of sight, out of mind. As long as you get that passive income right?

@donaldlyons17

11 ай бұрын

@@robertstraw9881 Well some people are really good about paying but others don't make enough sometimes (sometimes all the time.) He is saying what many landlords are saying like the lady in the video. They want the money otherwise why rent properties at all?

@robertstraw9881

11 ай бұрын

@@donaldlyons17 Try getting a proper job that produces something of value instead of owning something and collecting money for doing nothing.

@donaldlyons17

11 ай бұрын

@@robertstraw9881 Oh so you see her as "collecting money for doing nothing." Well no she is busy trading in blood money as a "owner" being a leach that extract wealth from others to meet their basic needs. But at some point I can't in good conscience buy multiple places and work others to death. Reminds me of people that think owning slaves made sense. Well sure from the math prospective but who is not up at night knowing the renters need a place to stay? We all know she only wants those with wealth and she does not seem to have any shame knowingly taking advantage of them.

Hi. Where can I find good application.

There are good ones and bad ones. The thing that seems to get lost to some is that not everyone wants to buy a house. There are tons of expenses and risks you take on when you buy a house, and some people would rather just pay a little bit extra to not have to worry about it. It's true that there are plenty of people who want to buy a house but can't, for whatever reason. But I think the slumlords that do exist tend to catch all the attention, and it unfortunately casts a shadow on those of us doing our best to provide quality homes while making a little money.

@donaldlyons17

11 ай бұрын

IF they don't buy a place to stay they will be renting forever. The only options I am aware of is buy or rent? Is there a third?

The truth is, when your landlord sucks at his or her job, he or she can turn the tables and blame the tenant when the tenant hasn't done anything wrong. The tenant can keep a place nice and neat, and be told in court, they live like a slob. The judge tends to agree with the landlord, and or property manager and before you know it, as the tenant, you are out on your rear.

Hey You can check your state laws , if it allows , you can write in your lease that the tenant is responsible for any repair in the house / apartment besides Majors (ac / roof and maybe plumbing). If the tenant pushes garbage to the toilet it’s not your fault to pay for that.(needles to say you should provide them functional house) Please let me know if you have any questions

@dangeroreilly2028

2 ай бұрын

Many states include this in their laws, and it may be helpful but not necessary to add that to lease. A LL is typically responsible for normal maintenance. A toy firetruck(real example) stuck in a toilet drain is not normal maintenance.

Just happened to stumble onto your channel. I love your videos. I've been in the house renting business for almost 30 years and although I enjoy the added income I've had to put up with a lot of problems from people. Sometimes I wonder if it's worth it. I think I'll show this video to my tenants, this is very good, thanks.

@4NaturesStory

11 ай бұрын

You could get a job, or maybe a career? 🤓😂 landlords really are worthless unskilled individuals with boss complex. Losers in school, no social skills, no achievements…till they were a big bad LORD!! 😂😂😂😂

Oh do some proper work

@ItsMandy

2 жыл бұрын

Actually you would be surprised at the number of applicants I get who list that they smoke despite the listing saying, "no smoking".

@Ranglojackson5319

10 күн бұрын

@@ItsMandyand that justifies throwing people out onto the street? Okay then.

As a landlord myself I can vouch for Mandy here. She's spot on with all of these points!! Also.. Mandy you cannot allow that puppy to slide. I hope you stick to your rules with this one. Great video, thanks for posting :)

@jimsmithnyny8905

Жыл бұрын

A new law is coming Any tenant can skip, postpone, cancel rent as per their convenience

Yep! I was googling landlords experiences. As I was typing, the first thing that popped up was landlords are evil.

@dangeroreilly2028

2 ай бұрын

Funny isn't it! Of course, that's what we expect! People tend to publicly review bad experiences more than good. A new tire doesn't leak, a doctor saw a patient on time, a plumber fixes a leak, a cashier gave the proper change...... these are things we typically expect, and don't usually go overboard with praise when they happen because the expectations are met. But if a new tire is installed and leaks immediately, we might publicly complain about the tire or the installer. Same for LL's and tenants. If each honors their part of the contract few people jump in to praise, but people are usually quick to complain if somebody doesn't. Just human nature I think, to mention the disappointments more often.

which state do u come from? i think the state is very important since each state has different laws

you should try phoning Orbit housing association the first 4 options on the phone line are give us money, give us money, give us money, give us money.😂 Im about to become a parent landlord and I have to be desisive and strict about rent .

Is the first reason you give not understandable? People don’t become kindergarten teachers for money. Is their any reason but money to be a landlord?

@leslovesliberty1776

11 ай бұрын

Unless the kindergarten teacher is working on a volunteer basis she is absolutely working to earn a living (just like everyone else).

Do you put the properties in an LLC? Or trust?

How do you get your lease done ? Does Cozy has leases ?

@jacksoceka9701

4 ай бұрын

Leases for your state in the USA that follow your state's landlord/tenant laws are made by the Realtor's association in your state and also by the state bar of attorneys in your state. FInd these leases in your state. Do not always expect to fnd them for free on Google in your state. You might have to pay for a copy.

Great video!! I am a landlord and I’ve seen it all. I’m turning over my a property to a management company but all the contracts look kind of shady. This is a whole new element of landlord experience for me. #newsubcriber 🏡🏠

You are speaking my life! Thanks for making this video! It's a comfort to me. I've owned and managed 3 rentals for the past 8 years (my sole livelihood, as I'm not a US citizen and can't take a regular job here). I've struggled with everything you speak of, after putting so much love and attention (not to mention my net worth that took years of working day jobs in Australia to accumulate) into my rentals... to create warm and inviting homes for people, with all the modern amenities. These rentals are in much better shape than the property I personally live in, where I make do until I'm in a better position. My rentals have been trashed over and over again, to the point I'm exhausted, and going broke (non-paying tenants, tradesmen who promise but don't deliver, tried property managers for a while and that was an EPIC FAIL). I'm debating giving it all up to return to Australia for my old, easier life (working for the man). Much strategizing + leg work + responsibility is required to be a successful landlord. It's also a giant risk in many respects, with all my money on the line. Anyway, just wanted to say it's nice to see other young women out there doing what I'm doing. I might hang in there. You give me hope :-)

@jks8922

2 жыл бұрын

PS - I'm also in Tennessee (Nashville)!

@ItsMandy

2 жыл бұрын

I'm so sorry, that's awful. Some people have absolutely zero respect for other people's property (the home they are living and raising their family in). With you being in Nashville though, I'm guessing your properties have appreciated pretty well over the last 8 years?

@karamlevi

5 ай бұрын

Bad luck 🍀 is a problem. You have bad luck. Fix your bad luck. Everything else will improve. You sound like a positive caring person. The Seven Spiritual Laws Of Success by Depak Chopra is a pretty good guide on how to change your luck. There are other tools out there and from other traditions… but this is pretty clear and to the point. You can’t fail that much and that often bro. It’s perfectly aligned bad luck. It’s not random. Your a good person but attracting pure failure. Your a man with a nice garden but it’s getting nothing but weeds. Other gardens are not. There’s a reason. Too nice? Too gullible? To worried bad will happen so it happens and it happens perfectly? I’m not putting you down mate. I’m informing you. Read the book and play with it. Adapt it to you. Make it yours. You luck will change if you start to align with good luck 🍀 again.

Do not find tenants on facebook marketplace or anywhere on facebook!!! I made the mistake of doing that and most of them are bad renters!!!

a veterinarian disallow tenants to have a puppy, what a contradictory.

@ItsMandy

2 жыл бұрын

It didn’t use to be a rule, but I’ve had a lot of pet damage. And it seems like once you get more than 2 pets the likelihood of damage increases significantly.

@OtherDalfite

2 жыл бұрын

@@ItsMandy people who don't take the time to care for their animals and work with them also tend to lack self control and take on more than they could ever hope to handle. Seen it multiple times, makes me so sad to think of the life the animals have to live

Remember that all repair contractors have an expiration date...

Most renters are completely clueless. They've never owned a house. They've never paid a mortgage or property taxes and insurance. They've never been a landlord. They think owning property is virtually without expense and their rent check is all gravy. They've never studied economics. They don't understand that there's no way for a landlord to charge more than market rate for rent because renters will just rent somewhere else. They want to blame others for their problems. Many people are just incredibly ignorant.

@raymon-3712

Жыл бұрын

Just like the landlords themselves who view their tenants as problematic but forget that those are the people they're serving.

@donaldlyons17

3 ай бұрын

@@raymon-3712 Strange they both have blind spots!!!!! Why don't people understand people are in what they are in. But she is for sure taking advantage while fooling herself she is help others. I can't offer people something which benefits me more than them and yet not admit is helped me more. Landlords tend not to be detached enough to admit their privilege and exploiting people.

@raymon-3712

2 ай бұрын

@@donaldlyons17 Yep its a toxic system. Society should strive for ownership of property for everyone who needs a house. Housing is a big booming business the interest has always been money not the welfare of the normal man.

We are actually planning to sell some of our that are in a bad area since we hat so much problems there this whole year and also covit realted

@ItsMandy

2 жыл бұрын

We actually sold a property this year for that reason too. It was in a part of town that is notorious for drugs and break-ins. Apparently C and D class properties should have higher returns, but in my area that isn't really the case and they usually end up being a lot more trouble than A and B class properties.

I was just called a slumlord this morning. Hit me after going beyond and above myself to do anything for them. It hurts no matter what

@anitaprudnikow2088

2 жыл бұрын

Oh my how much i can relate to your statements. Big hugs from Canada

@ItsMandy

2 жыл бұрын

Yes it does.

Sounds like you have always been rich. Coming from parents that are veterinarians, being a chemical engineer, and then buying up properties to rent out. It's just a business for you and it is just about money for you

@donaldlyons17

2 ай бұрын

The problem is she is actively taking advantage of others and acting like she is doing them a favor. I can't see running a housing business and that being good for the renters very often but she acts like it is a good thing for them which we all know it is not!!!

I would humbly advise to provide more detail in your next videos. For example you stated that your expenses increased and you increased rent due to that. Please elaborate what those expenses are to provide clarity.

@ItsMandy

Жыл бұрын

I think that was just a general statement that overtime expenses increase so rent has to increase too. Every single expense associated with owning a rental property increases overtime: taxes, insurance, maintenance, materials, labor, HOA fees, cost of professional services (accountant/attorney),etc. I priced bifold, hollow-core closet doors at my local hardware store today and they were $450 each (I need 8). Last year they were only half that. Material and labor costs have gone through the roof in the last couple of years. Insurance has jumped up a lot too.

@TheWanderingMerchant

Жыл бұрын

@@ItsMandy Thank you and very helpful!

Hey Mandy I can relate to everything you laid out in your video.. you made me laugh so hard in a good way when you posted what people say about us landlords.. keep up the good job & professionalism ..you gave me a great idea to do for the future to improve for the landlord community ..sending you positive vibes.. I was thinking of creating a platform for us landlords on how to improve as landlords and also to network..a helpful app for upcoming landlords .. a place we're we can vent as landlords and give ideas ..give previous situations and solutions with resources in all different states

may be you could do some real work 😅

Landlords have a reputation for a reason. When people “go in” on something everyone has a stake. You invest in a ship and the captain, his crew, and investor all risk something if it goes bad but all gain something if it all goes good. What does a landlord risk? If costs increase they simply pass those costs along. Lol I hope the dollar collapses asap

Excellent video. I am white, a man and own two properties that I rent. It doesn’t get any worse than being white, a man and landlord. It doesn’t matter that I clean toilets, pick up trash and do every other dirty job that no one else wants to do. There is a stigma. I have gotten nasty calls from people that don’t know anything abt me and people that have destroyed property. I have had a hard time dealing with the stigma at times. I pay a property manager to work with tenants bc I am not good at being a “bad guy”

@thatdrummerlatu9325

7 ай бұрын

Pitty the white man who owns property 🥲

You're making a living from housing scarcity. Getting a little flack for exploiting a terrible system seems like a pretty good trade to be honest.

@dangeroreilly2028

2 ай бұрын

At the moment, it mostly is a pretty good trade AT the moment. I say that as a honest LL. Although I am making a living by providing a service; what I earn isn't a gift. Just like a doctor does for her patients or a factory worker does for his employer- I am providing a service. Rents have gone up a lot due to scarcity, but don't think the additional money is all profit. Mortgages have gone up, insurance costs up, every material a LL must buy, and labor costs are up too. I can't replace a ceiling fan(just an example) as cheaply as I could 3 years ago. You should know however, what has caused the scarcity. New/toughened Federal laws were put into place beginning around '09 and for 6 or 7 years or so after. Those laws reduced how much residential loan money a bank was allowed to lend. Because of those new restrictions, fewer people were able to buy, and naturally, that meant more people had to rent. That has caused a shortage of rental homes available, and that is a big part of why rents are up. As the expression goes- elections have consequences. So, my recommendation is that everyone be an informed voter.

Landlords destroy the whole communities by buying out the properties leaving nothing for others. My small school lost 10 teachers in 1 year because non of them could afford to buy a place in London so they left. Same goes with nurses, doctors, social workers, police officers, students etc. My city has became a sad, dark places as nobody can afford anything after paying their rent. Soon there will be only landlords, politics and those in social housing left here. I personally, would never be able to date a man who was a landlord. First, morally this would be unacceptable, second , I truly have never ever met an intelligent, creative, kind landlord. They are not only difficult as landlords but also as friends or partners.

@dangeroreilly2028

4 ай бұрын

Let me say a couple things. As a LL, I have had people "bad mouth" me for expecting rents in full, on time. Is that really so evil? To expect both parties to honor their agreement? Here's a different perspective- if LL is in a money pinch, is it ok to expect tenant to pay more rent money than agreed upon? Of course not. So if tenant is in a money pinch, should LL receive less money than agreed upon? Tenants don't often think from that angle. LL isn't a tenant's mother, or clergy. "Understanding" isn't LL job, nor is it the tenant's job. LL provides a service in exchange for rent money. If you work a job, AP-di8sy, and payday is Friday, do you expect to be paid? In full? Or is it ok for company to say- we had extra bills this week, we can't pay you-. Of course you want paid, you have a right to that. And, if there were a city of landlords, they'd go out of business without tenants, so SOMEBODY must be renting the units you mentioned. As far as rents going up, yes they have been, I agree. There is a serious scarcity of homes to buy and units to rent. But there is a specific reason for that. I don't want to be politically offensive, so let me just say that banking laws were changed about a decade ago. Those changes seriously affected bank home loans and that affected the housing market, reducing the number of available homes. No matter how you vote, get informed, and then vote.

@AP-di8sy

4 ай бұрын

I do a job that helps society. It improves many people's lives. You take from the society. By being a landlord and taking precious housing off the market you are a part of the most toxic politics. I was growing up in a country with no landlords but affordable housing. Over 90 percent of people were owners, taking pride in their houses and gardens. There was a community there. There was life! Nobody needed landlords. You are the scam of society. Sell your house to a hard-working young family and go to work. @@dangeroreilly2028

@donaldlyons17

2 ай бұрын

@@dangeroreilly2028 Well your idea seems to only help you.... As the owner you have the cash to buy in while the other person is forced to buy in with far less control... You talking about an agreement but people don't think outside of their own best interest sometimes and as landlord you could aways write the lease to give tenants grace because things to come up.

@dangeroreilly2028

2 ай бұрын

@@donaldlyons17 An interesting observation, donald, but mostly uninformed and seeing and addressing only a small part of the picture I presented. You seem to be assuming that as an owner, I have piles of cash lying around. Are you assuming I pay no mortgage? Property tax? Home insurance? Normal maintenance costs? Tenant repair costs? I'm never stiffed by a tenant? Are you assuming nothing "comes up" for the landlord- only the tenant? Can I tell my lender -Sorry, I can't pay mortgage on time, tenant John Doe had "things come up"? Are you assuming I pay those bills from my piles of cash, and that I do not rely on tenants paying on time in order for me to pay my bills on time? Do you think every month after I collect rents, I just start a new pile of money? Where do you think the money comes from that I pay my bills with? A tenant doesn't owe me for no reason. It ISN'T all about ME. EVEN if I get in a pinch I am still providing a maintained home(by contract); and I'm still meeting my obligation. Please address the 2 things I brought up if you want to have a persuasive argument that sees more than just the tenant's perspective. Do YOU see only the best interest of the tenant? First, why do you want to excuse a tenant doing less than promised, but not a LL? Are you thinking only of a tenant's best interest? Second- If the LL is in a pinch, should he have the ability to require tenant to pay more/sooner than agreed to help get him out of a pinch? If not, then why do you feel tenant should have the ability to force LL to accept less/later rent than agreed to? Tenant has obligations to LL. LL has obligations to others, and uses tenant's payments to meet those obligations. How is that any different?

@HunkyDory776

2 ай бұрын

Corporations buy out these properties, normal people do not. They should be separated.

I love all your videos but I have to watch them at faster playback speed!

I'm sure it sucks being a vile parasite but at least you don't have to work for a living.

@jacksoceka9701

4 ай бұрын

Young people work with their back for a living. Old people have their money work for their living. It does NOT make them a parasite. YOU are the parasite.

@donaldlyons17

3 ай бұрын

@@jacksoceka9701 You don't see the issue with taking advantage... and both parties can be parasites!!!!!

@altaroxllc3184

2 ай бұрын

U r talking about tenants, right? 😍

@donaldlyons17

2 ай бұрын

@@altaroxllc3184 how can tenants be parasites when they have to pay or face homelessness?

@johnferris5042

2 ай бұрын

@@altaroxllc3184 Of course not, dumb dumb

I was a landlord for three years before Covid and into the first year. I had inherited three properties all next to each other and I had multiple issues with my renters. The only reason I was able to deal with it was I was a law enforcement officer and most feared me even though I'm a very nice guy but people believe what they want to. My wife and I sold all three to a investor and it was the best thing we ever did except having my two boys, actually better than that.

@donaldlyons17

2 ай бұрын

You saying your nice is that a joke?

To be honest I’m thinking about being a landlord over 3 properties . But I’m really scared of being a landlord because of the nightmare some people go through .

👍👍👍👍👍✔✔✔✔

hideuse

insatiable tenants are also a nightmare

A new law is coming Any tenant can skip, postpone, cancel rent as per their convenience

@mattp4079

Жыл бұрын

In New York State, its already here.

@ChatBloom

Жыл бұрын

Same in California! And they can punish the landlords too!!!! Also, the tenants can file with the courts "disturbing the quiet of their home", while landlords cannot!! And tenants don't need to provide evidence, while the landlord does!!

@altaroxllc3184

2 ай бұрын

@@ChatBloom Socialism is fun! Think about it, next time you vote.

Do you hate stealing money from poor people by being a landlord?

@ItsMandy

Жыл бұрын

I offer owner financing to all my tenants, with zero down and 5% interest. All they have to do is pay rent on time for 2 years. Most all of my tenants have rented for way longer than 2 years, but they still prefer to rent for various reasons. Some just because they are older and don't want the responsibility and some because they plan to move out of the area. I rent myself because we are only in this town temporarily for my husband's job. Do you still consider it stealing if the tenants don't want to be homeowners and would prefer to rent at least for the time being? Do you also consider it stealing when you go on vacation and have to pay for a hotel room?

@duncanwalk1960

Жыл бұрын

@@ItsMandy if it’s completely consensual, I don’t consider it stealing. Most people can’t afford to buy a house, so since they’re left with renting from a landlord or being homeless, it’s almost always nonconsensual. These people are forced to pay 1/3 of their income to another individual just to have a place to live. I don’t think the exceptions justify the mass exploitation.

@ItsMandy

Жыл бұрын

I don't think most people can't afford a house, I think most people can't afford the house they want in the location they want. In my area you can buy a nice 3 bed 2 bath for very little down and your payments would be less than $800/month. There are still many areas of the US that are very affordable. I know packing up your whole family and moving is easier said than done, but it's a choice. You have a choice to stay in a big city and rent or to move to a more affordable area and buy. My area is full of people who have moved here from more expensive northern states, including my husband's family who moved from los angeles.

@lopez.jacinto.6726

Жыл бұрын

@@ItsMandy it isn't a choice if it is your only option.

@donaldlyons17

Жыл бұрын

@@lopez.jacinto.6726 Yeah I think she intends well and wants the best for her tenants but like so many landlords they seem to not understand that renters need a place to live so they tend to either buy or rent. However she seems to think "most people can't afford the house they want in the location they want." which is not logical when affording something requires the buyer to meet requirements. It also seems totally clueless to not think maybe many of my renters can afford to meet requirements to buy so they rent from people like me instead. Yeah housing is a need not a choice. The only choice is when, where, from whom.....