Landlord Lifeline

More Water Bill Issues… OR… ”How the landlord paid to fill the swimming pool”

We have had a lot of positive feedback on our blog “Who Pays the Water Bill”, so water bill issues must be a hot topic.  Here is another one that will help you realize that no matter how long you own rental property your tenants will still find ways to help you learn new lessons.

A year ago I bought a bank owned house for a real good price.  The remodel to get it up to speed for a good rental was about $20,000, but at fair market rent it would still cash flow.  It is in an area where light rail transit is being built, so long term appreciation will be significant.  I was pleased with myself for the good investment.

A prospective tenant told me they would sign for a long term (3+ years) lease if I would pay the water bill the first year.  It seemed like a good trade off, so I agreed.  Yesterday I learned a lesson from this tenant.  I should have written into the lease some guidelines for the water use… like you can’t fill a giant swimming pool!

The last month of the one year lease brought a huge water bill.  I called the tenant to check for water leaks and running toilets and scheduled time for our plumber to do the same.  Now I find that the tenant (just before the end of the one year lease) put a 16’ x 3 ½’ swimming pool in the backyard!  It seems I paid for the water.

You will soon find a new clause in the lease on Landlordlifeline.com… something about no swimming pools bigger than a children’s wading pool.  Stay tuned for more.

Thanks,

B

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Art of Being a Landlord by admin