I’ve always heard that Massachusetts is one of the most difficult states to be a landlord. The laws are not written fairly, and if you get a “professional tenant”, they can string you along for months and months without paying rent. Where does that leave you as a landlord? In jeopardy of losing your rental property to foreclosure, or worse.
All the horror stories I’ve heard, all the well-meaning relatives and naysayers with excuses up the wazoo of why tenants are a hassle could not change my mind. Excuses. This is what they are. Excuses for why people are living the lives they are, excuses for why people aren’t financially independent, because after all, any financial advantage would not be worth the hassle. Did you ever notice that most of the people telling these stories have never been a landlord? What makes them such an authority on this anyway?
I was determined. I knew that Real Estate investments were my future, and jumped right in. I knew that the only way to counteract the damage that can be caused by professional tenants was to become a professional landlord. I found someone local who knew how to be a professional landlord and could teach me how. Alan Kosinski.
Alan has over 25 years of experience as a landlord. He’s been taken advantage of by tenants many times, and each time, he learns from it and finds a way of keeping that situation from ever happening again.
Alan has a special lease that he has crafted to help tip the power balance back toward our side. It is a very fair lease. Its purpose is to prevent “professional tenants” from taking advantage of the system, and of us. He explains why every lease in every landlording and legal book out there are great for most of the country, but total suicide in Massachusetts. Alan teaches real estate investment seminars on many topics, including a 3 day seminar specifically on our topic of conversation, Landlording. I spent a lot of time around Alan, helping him with his projects and learning from him.
All of my knowledge was put to the test recently when I had to do my first eviction. All this stuff sounds good in theory, but does it really work? I had a situation where a tenant stopped paying on November first, and told me verbally that she had no intention of paying rent anymore. She claimed her “lawyer” told her that she didn’t have to. How crazy is that? Previously, I thought these things only happened in the movies! Such is life in Massachusetts.
Long story short: even with the tenant pulling some shady tricks which resulted in a few legal paperwork delays, I had a court order to have her removed by January 15th, and she left of her own free will before that. Less than two and a half months! That is quick! I know people who have had non-paying tenants stay for OVER 6 MONTHS! If everything went smoothly, it would have been quicker.
I also learned another lesson. I realized this was a tenant that I could have screened out earlier, and not had this type of a situation. I admit that I had a suspicion that this was coming.
The apartment was in bad cosmetic shape. 2 weeks later, it was renovated, and after another 2 weeks, rented for $50 more. Problem solved!
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Tags: landlording, real estate