Sunday, February 3, 2008

Landlord Concerns

Small comment from the blog person: My concern over gas leasing has its genesis in our experience with being landlords. Recent history – My mother left us a little rancher in Endicott NY. It is tiny by any standard. The last three tenants have cost us money. Sept thru December of 07 a young woman and her three children moved in with a reference and pay stub. Her parents lived up the street and she was moving in because her parents could help put the kids on the school bus while she was at work. Within two weeks of her moving in she lost her job and there were never any rent checks. She had signed a month to month lease. Our attorney told us it was the best way to remove an undesirable tenant. It still took us $1,000 to the attorney for eviction and two months of cleaning to restore the house for sale. Thank heaven at the last minute she moved out herself saving us the heartache of seeing the sheriff throw her and her three darling children out on the street. Needless to say, Christmas was emotionally ruined. Now, like the tenant, the landsmen have great stories. I assume any lawyer will give as good advise as he or she is able. The whole lease affair still cost us $2K and a ton of heartache and stress. I extrapolate this to any gas lease signed on our property. A lease is a lease. When you become a landlord, the property you rent is no longer yours to do with what you would like. You cannot enter the property unless you call and ask permission. You must give notice. You cannot demand the tenant leave and expect that they will do so. In short, the laws of the land are heavily weighted to the tenant no matter what or who they may be. Once you lease your land, even with what you think are adequate safeguards, you are in a weakened position. Our tenant signed a month to month lease packed with what we thought were protections i.e. no live- ins, no dog. We had given her the key and probably had not arrived home when her boyfriend and his dog had moved in. I am involved in this group and this process because I know too well how helpless we are in the face of this juggernaut. The money may be great and who doesn’t need it? Just beware of “Whomever, bearing gifts.” There could be a Trojan horse waiting at your gate.

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