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  1. #1
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    Default landlords: read this article

    my goodness, this article left me speechless.

    Reader Story: The Other Side of Bankruptcy
    11% gross to retirement
    10% takehome to tithe and offerings
    emergency fund maintained at 3000(works for me)
    credit card debt 7500
    mortgage free
    freedom accounts/sinking funds that ebb and flow
    then live on the rest!

    i am trying something new. LDS church advises savings or debt repayment should be the same as the tithe. 10% each.

    "i create prosperity, abundance, and savings for me and my household"

  2. #2
    Registered User sunshine's Avatar
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    Default

    Only too true. . . been there, done that - with variations of course.

  3. #3
    Registered User porembam's Avatar
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    Default

    Thanks for sharing

  4. #4
    Registered User mek42's Avatar
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    Wow. <speechless pause>

    Back when I did my bankruptcy many years ago it never occurred to me to even think about screwing with my landlord like this.

    The author of the article might be able to land the perpetrators in prison if she really wanted to for fraud, especially mail fraud, if the perpetrators filed any documents related to the spurious bankruptcy by mail. Not sure if I'd be able to separate vengeance from civic concern in this situation though.

    I think this article is or everyone here, not just landlords. Thanks for posting the link!

  5. #5
    Rude and Vile Master Greebo's Avatar
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    A good cautionary tale and why I tell people NOT to stumble into being a landlord.
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


    Greebo
    (Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
    WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!

    Three
    Two mortgages, two one no car loans, one no credit cards, and a partridge in pear tree!

  6. #6
    Registered User Incognito's Avatar
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    A very good article, and I really enjoyed all the comments below the article from people representing both sides of the picture.

    I've rented for 30 years in government subsidized-housing in Canada, and in my budget the rent-money has always been #1 priority. Then too, I fix up the place often at my own cost, and I've improved the unit and grounds during my tenancy at every place I've lived in.
    I've earned my living by teaching hundreds of music students in my rented units through the years. And I have been re-housed several times into larger or smaller units (due to unit-size regulations) while raising my children.

    My problem is getting the landlord to do repairs which should be done, and nowadays there's so much BS with the higher-ups, they can stall repairs indefinitely. I see many tenant-neighbours come and go; some are excellent, decent and honest; some are immature, messy and troublesome. I have no sympathy for the con-artist tenants; if they're smart enough to fool everybody and take advantage of the system, they're smart enough to earn an honest living.

    I just have one question about the article: how much rent was the landlord charging per month? I find it hard to understand why they couldn't find reputable tenants, but then again, with so many problems with the economy and personal debt, maybe people have become more dishonest and cagey. It's too bad.

  7. #7
    Registered User frugalfranny's Avatar
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    Very interesting read..........thanks for posting it.

    Parts of it sounded like been there, done that to me too!! I, too, have gotten much smarter and more hard nosed as time has passed and I ran into the AH of the world!

    This line raised my eyebrows and gave me 'pause'.......but whatever!

    My husband chose one with a lot of units that we saw at court every time we were there.
    Travel light. The baggage of the past can only hold you back.

    January Book List

  8. #8
    Rude and Vile Master Greebo's Avatar
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    Quote Originally Posted by Incognito View Post
    My problem is getting the landlord to do repairs which should be done, and nowadays there's so much BS with the higher-ups, they can stall repairs indefinitely.
    Go to rent court. Ask to have the rent put in escrow until the repairs are done. That is, around here, the LEGAL method of withholding rent if repairs aren't done.
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


    Greebo
    (Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
    WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!

    Three
    Two mortgages, two one no car loans, one no credit cards, and a partridge in pear tree!

  9. #9
    Registered User annymoll's Avatar
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    Bankruptcy screws alot of people. The first thing we always hear is to quit paying the medical bills.As if we had no bills to pay.I want so much to say ," No, don't pay the rent".And I would say that...... as long as it's not my rentals. We have rentals as well, but leased with first and last months, plus security deposit up front.No holding over . Helps a little. It's always something and problems are endless.Such is life.

    "Money, if it does not bring you happiness, will at least help you be miserable in comfort."~~Helen Gurley Brown

    "Can't never did anything."~~~~Dad

  10. #10
    Registered User pinetree's Avatar
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    Just got out of one of those...with variations,, cost a fortune to fix and going to take along time to get caught up from it.
    Pine trees, with their needles pointing up to heaven, represent everlasting light and life.

  11. #11
    Registered User Incognito's Avatar
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    Thanks Greebo, but that's treading dangerous ground here. Every year, when I sign my lease, I tremble because the squeaky wheel doesn't always get the grease, sometimes it gets thrown out.
    Besides, I have no access to transportation to said recourses.
    My options are the Ambudsman and Public Health Authorities, and even in those cases there is travel and time required to deal with it, and I'm just not a well person now.

    The last time I had to get major repairs done, I was lucky enough to be teaching the daughter of the Public Health Co-ordinator, so I called her to get involved and she sent out the health inspector. My unit maintenance supervisor was late in coming to the appointment (as usual), so the health inspector arrived half an hour early at my unit. So, I had plenty of time to show him the many years of annual unit inspections papers I had on file (with all of the repairs needed); as well as the building's major repairs issues--the main one being the leaky bathroom fittings upstairs discharging water into the kitchen ceiling below. When the maintenance supervisor finally appeared, he BS'ed and denied the entire list of repairs I wanted done. Finally, the health inspector reached up to the kitchen ceiling and poked it with his finger. A large sodden part of the bulging, wet, kitchen ceiling broke away and fell down onto the maintenance supervisor's head and the kitchen floor. He didn't even blink. That should have proved the point, but their position is immovable, so even then there was no acknowledgement.

    The health inspector made a long list of repairs that needed to be done on his report, but because it's government-housing, the government has its own regulatory protection in place. Eventually, some of the repairs got done, but the big problem was a leaking roof. A few years later when the bathroom fan died, they sent an electrician to replace it. When he installed the new fan, he saw daylight where the fan exhaust chute went through the roof. I got him to go up on the roof and caulk it around the vent. And that's the way it goes around here. And dealing with their BS bugs me as much as dealing with the maintenance issues, because I can't stand liars.


    Quote Originally Posted by Greebo View Post
    Go to rent court. Ask to have the rent put in escrow until the repairs are done. That is, around here, the LEGAL method of withholding rent if repairs aren't done.

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