Reply to Should we sell our DC rental?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would sell because of how you phrased this: "We had to pump $30k into it due to delayed renter maintenance and it will take time to recoup that in rent profits."

Did you expect your renters to maintain the property? They didn't delay the maintenance -- you did. And this 30k you've spent on delayed maintenance is not some unforeseen expense. Maintenance should be built into your business costs as a landlord such that you should have already been "recouping" the costs of that maintenance all along through the rent.

You don't understand what it means to be a landlord or to own an investment property. You should be maintaining the property all along and charging a rental fee that covers maintenance costs as they occur instead of letting it fall into disrepair and suddenly having to fix it all at once between tenants. It sounds like you live out of state and don't employ a management company for the rental.

Sell it. [/quote]

I think it is you who does not "understand what it means to be a landlord or to own an investment property."

Who maintains the property, with regard to any particular maintenance, can be covered by the lease. And it is not unheard of for tenants to have maintenance duties. [/quote]

I don't think $30K worth of repairs is simple "tenant responsibility maintenance", but OP would have to share details.[/quote]

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