For every great tenant, there is one who will try to hustle the landlord
For every great tenant, there is one who will try to hustle the landlord
The highs and lows of renting and evicting — to friends, family and foes
He told me he bought property while he was playing basketball overseas. I thought this was a smart idea. It made me respect him more. It was a sign of stability to not blow money on clothes, cars and other items that would hold no value over time. But I noticed how unhappy he looked when he said it, and I asked, “What am I missing?”
He shook his head and said, “I’m not making any money off that place. I rented it out to relatives.”
I still didn’t get it. A tenant is a tenant. I shrugged and reminded him that relatives can pay rent, too, so I didn’t understand the big deal. The facial expression he shot back at me was like I’d just told him that after we parted ways, I was going to meet Santa Claus at Starbucks. In his words, relatives didn’t feel the need to pay rent or wanted “family discounts.” I winced. I know how that goes. I have family and friends who may as well be ATMs. I’ve listened to stories of “I’m going to pay you back” only for the same people with their hands out to ramble on about vacations or blowing money on other things — never paying back the lender.
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My mother always told me, “Never loan out more money than you can afford to lose.” In the few times I’ve asked to borrow money from her, my top priority has and always will be, “Pay her back by any means necessary.” Whether she can “afford” to give it to me is not the issue. “Borrow” does not mean “keep.”