In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Anyone ever rent to pipeline/ construction workers?
jimdeere
Member, Moderator Posts: 26,153 ******
Our daughter's house is right next to ours. She passed away in March. Wife is thinking about renting as the pipeline is gearing up in our area.
She doesn't want a long term lease. She will keep the utilities in our name.
Fully furnished including kitchen utensils, etc.
The pipeline folks work six days a week, daylight to dark. The job is expected to last at least 8 months.
Her main concerns are:
The house is not torn up or trashed
No loud parties, etc.
She's not expecting to get rich. Just cover expenses and upkeep.
Our other daughter may move there next year.
Thoughts?
Comments
Don't do it. I have a couple rental properties. People don't treat them like they own it. They just use and abuse the houses. Not worth what you are going to spend to fix it up, once they move out. Oh, and good luck with the courts if they decide to trash the place or not pay and you try to remove them. They have more right than you, as the owner.
My only advise to you Jim is if you decide to rent to a bunch of transit workers, make sure you get a very LARGE security deposit ahead of time and maybe check with your homeowner's insurance people to see if they will cover any damages if accrued. (for a price of coarse)
AS ABOVE and it is dead on.
Funny you should say that. I bought a 7 bedroom former group home this spring to add to my rental portfolio. I just started renting it to pipeliners. I'm getting $500 each out of them so $3500/month, it'll probably work out for that kinda money.
I have 3 rentals and wish I could find the guy that told me that being a landlord is easy money. I would (try) to whip his butt. The last one that moved cost me $7K in repairs. I suggest paying the utilities for a year and if your daughter doesn't want to move there just sell it. This isn't a good time to sell but maybe in a year Brandonomics will be gone and interest rates will come down.
She got a renter today. Engineer who will pay monthly and reimburse for electric.
We'll see how it works out.
I have industrial rentals. I give them "pre-lease" forms to fill out. Asks for their year-end reports, bank act. info (includes ph.# and contact name at bank), last landlords name and ph.,asks if there are any prior eviction or bankruptcy scenarios. Lists a $25/day late fee if monthly checks aren't received by the 1st of the month. The ones that fill out and get them back to me are normally A1 tenants. Culls the prospects. Easy to let them in but hell to get them out!
You can't do wrong with an engineer. 😉
Purchased large mobile home/property behind Mom/Dads place in Virginia that i now own both. Took on tenant that Undersheriff had leased too. Three months guy never paid me and I tried to get deputy to help me. Told tenant and deputy I would throw tenant out last day of month. Undersheriff warned me that tenant had way more rights than me and don't do anything foolish. I sent tenant registered letter and at midnight last day of month his brother showed up from Tennessee with truck and took him and possessions away. My mother got license plate number. Utility Co wanted me to pay bill but account was in tenants name. They tracked him thru plate number and nailed him. I tore MH down and will never rent my home in Virginia. ------------------Ray
PS: God help you if tenant has kids and you try to throw them out.
Jim, video the entire home along with the furniture, fixtures & what ever else you have in there. List the ser #s on the appliances & have them sign that all is in good/great condition. My cousin is a rental agent & you'd be amazed at the crap tenants pull. Remember that this engineer probably lives in another state re lawsuit time. I will look for an old lease with clauses you wouldn't think of & email it to you. And as Austin20 inferred, List the names of the actual people that are allowed to live there on the lease, otherwise they'll multiply like rabbits.
I don’t know if you’re retired or not, but at my age I don’t like problems and I don’t want to worry over things. Maybe would be better to just sell it. A bird in the hand is better than two in the bush.
I would, get names, SSN's and a five grand deposit, month to month lease with you inspecting home every 15 days. Rent paid in CASH only!
A lot of construction workers get a bad rap as rowdy and irresponsible. I would agree that some hold up to that reputation. On the other hand, pipeline workers especially the pipe welders usually make $120+ per hour double hand and around $75+ single hand. They usually work 12 hour shifts and mostly 7 days per week. When you work 12 hour days you usually just want to have a beer or two, eat then hit the sack. As usual you might get one rowdy one. Most of the pipeline workers I've worked with over the years were in their middle ages and very responsible. Met some really cool people too. I'd personally rent to them. I've seen some welder's work 6 months straight 7 days a week and walk around with $20,000 cash in their pockets! I'd steer clear of renting to young helpers or apprentice's. Just my two cents
Agree 100%. Labeling all of them as irresponsible, reckless and abusers, is just like the lib's labeling all of us Trump voters, racist, bigots and all of the other labels they place on us w/o even beginning to get to know who we are.
Right now, I have one ex tenant that owes us 77,000 dollars in Damage and back rent. They were a Nurse and a surveyor. They were great until covid hit. They then decided to stop paying. Took three years to get them out. In the mean time , the brought in six large dogs and let them defecate all throughout the house, kicked in all the doors, ripped all the doors off the kitchen cabinets, punched holes in the walls and lots more. Everything was recorded and had the sheriffs dept. and local PD as witnesses. We just won a judgement, but getting paid is another thing. They are having their wages attached and income taxes seized, along with some other stuff. This is the first time we have dealt with a bad tenant. The contract stated no pets and on and on. Had a lawyer draw up our contracts. The judge still dismissed some of the damages, Like the built in pool liner, that they threw cinder blocks through. We have all the receipts, that the house was totally remodeled before they moved in.. Today, I am finishing the house again. It had to be completely gutted, down to the floor joist. We have three other rentals, that we have. I'm starting to sell them off and get out of this racket.
We inherited my inlaw's house after they died. Then I made the mistake of renting it to my mother and her husband. It took her 2 months to kill the stove/oven. Then she was going to wash dishes and turned on the water and went off to do something else. By the time she got back to the kitchen the paneling on the under sink doors was ruined. the carpet in the kitchen and hallway was ruined, and of course, they didn't have enough money to fix any of it.
So as her executor, I moved them into a nursing home and repaired the damage, and promptly put it up for sale.
The moral of the story is you can't even trust your family to not screw it up
Joe