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Adventures in Property Management You Will Not Believe
I am an avid believer in using Real Estate as a component of your investment portfolio. But as many have experienced, sometimes being a small property owner is fraught with challenges. As a professional Property Manager, I would like to share with you some of the things that I have encountered in a career over the last 30 years. I hope you find these tails entertaining. Though we should never condone the level of property damage that these incidents caused, they are so unusual that they are also entertaining.
An Eviction of Another Level
One of my earliest experiences was with a tenant that was an emancipated minor living on their own; I think the person was 16 or 17. As you might guess, this person was not the most responsible and eventually rent was not paid on time, and we stared the eviction process. We had no reason to be concerned, everything else was OK with this tenant, and the property was clean and tidy. Somehow, word spread amongst this tenants high school friends that there was an eviction house wrecking party on the last day before she was ordered out. Someone decided to hook up their pickup truck to the balcony and tear the thing off of the building. In the late 1980s, this was $12K damage, something you would never collect from a…
