March 17, 2025 âą 31 mins
In episode three of The Rent-ish Pod, hosts Zach and Patrick dive into spine-chilling tenant horror stories. Hear real-life accounts from landlords whoâve experienced the unimaginable and survived to tell the tale. Then, itâs time for another segment of Proptology, where they explore the history behind the iconic Guggenheim buildingâan architectural marvel and real estate masterpiece. To wrap things up, the hosts answer more listener questions, offering expert advice on everything from tenant management to property investments.
đĄ Whether you're a landlord, a real estate enthusiast, or just in the mood for a few good chills, this episode is for you!
đ§ Tune in now for thrilling stories, insightful history, and answers to your real estate questions!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:00):
What's going on, everybody?
I'm Zach, and I'm here withPatrick.
What up?
We are your hosts for theRent-ish podcast, a podcast
that's kind of about rentalproperties and hosted by two
guys that work in the realestate industry and sort of know
what they're talking about.
(00:20):
But mostly don't.
Yeah.
Yeah, Patrick.
Mostly we don't, which is why Ithink you're going to have fun
hearing us talk to experts andlearning along with us or
laughing at maybe how little weknow.
But it's going to be a goodepisode today, Patrick.
We got three awesome segments totalk about today.
We got a story that I'm justgoing to tease as 23 mattresses
in the house that I can't waitto hear your dramatic narration
(00:43):
of.
We're going to learn all aboutthe Guggenheim, which is one of
the most famous art historybuildings there.
And then we're going to finishthe show off with a bunch of
listener questions.
Sound like Sounds like a goodtime.
Sounds like a good time to me.
Yeah.
Can we talk about this for asecond?
This studio?
Yeah.
New studio setup.
I'm loving it.
New studio.
Who dis?
Comfy chairs now.
Yes.
We've got microphones that likehave arms attached to them.
So it's like we got this wholesetup.
(01:05):
It feels a lot moreprofessional.
Do you feel like a professional?
Moving up in the world, I feelvery much like a professional.
Yeah, yeah, yeah.
We might not know what we'retalking about when it comes to
the real estate part, but atleast we look like podcasters.
Right, right.
If NPR walked into this room,they'd be like, hire these guys.
Yes.
I still had to make my own cupof coffee.
So hopefully we can, you know,What a shame, what a shame.
(01:41):
You want to dive in, Pat?
Let's do it.
Okay, cool.
Like you briefly mentioned, wegot the 23 mattresses in the
house tenant horror story here.
I'm going to be doing a dramaticreading of the story once again.
Can't wait.
The story comes from Steve, alandlord in Indiana, who thought
he was renting his old familyhouse to a nice couple with one
(02:02):
child.
But as months passed, thingstook a sinister turn.
Steve's house wasn't justhousing a small family.
It had become a nightmarish denof...
What a ghoulish openingstatement.
It's a tenet horror story.
This reads like the best IMDbmovie I've ever seen.
(02:23):
Let's dive in here.
The house loomed before me, anall too familiar relic of my
childhood.
But as I stepped out of my car,a sense of foreboding settled
over me like a thick fog.
The smell was already there,heavy and suffocating, even from
20 feet away.
It clung to the air, a grotesquemix of rot and decay, crawling
(02:45):
into my lungs with every shallowbreath.
I had no intention of gettingcloser without protection, so I
turned on my heel, got back intothe car, and sped off to the
nearest store to grab arespirator.
I wasn't about to let whateverfestered seep into my system.
I don't think anyone's ever saidrespirator as hardcore as you
just did.
I appreciate that.
(03:06):
Thank you.
That's a compliment.
When I returned, mask strappedtight to my face, the dread only
deepened.
I stood at the front door, thehandle cold and unyielding under
my gloved fingers.
Which I didn't know that thatwas used as an adjective.
Gloved.
Gloved.
Yeah.
I think Gloved?
(03:26):
Gloved is great, though.
That's what I thought it was.
That's fabulous.
Yeah, okay, word of the day.
With a deep breath, I pushed itopen, and the full force of the
stench hit me like a tidal wave.
I had to grip the doorframe forsupport, my vision blurring for
a moment as nausea threatened tooverwhelm us.
This was beyond filth.
It was as if the house itselfhad been consumed by some
(03:49):
festering disease spreading intoevery corner and crevice.
Yikes.
I don't like where this isgoing.
I got to tell you right now.
Bad smells can't do it.
I'm wondering what it like.
I wish I could smell it.
I wish we had a 4D sort ofpodcast experience.
Do you?
I'm kind of curious.
Come on, producers.
They've got like stink bombsready.
(04:12):
It's a one and done use podcaststudio.
We're about to destroy thisplace.
The living room was a war zone.
The walls were pockmarked withgaping holes as though fists or
worse had torn through them infits of rage.
The carpet was no longerrecognizable as fabric.
Instead, a grimy patchwork ofstains, fluids, and debris.
SPEAKER_00 (04:34):
Oh
SPEAKER_01 (04:35):
my god.
Trash was everywhere, piled highin every direction.
Broken furniture, plastic bagsstuffed with god knows what,
half-eaten food molding inforgotten corners.
But that wasn't the worst of it.
The Furniture, the sofa where myfamily once sat, was smeared
with shit.
Literal human waste.
The rancid, sickly brown streaksmarking the cushions like crude
(04:58):
war paint.
God, Patrick, we got to becareful.
I mean, we might be turning offsome listeners.
But make sure this episode ismarked as, like, explicit.
Yeah, right.
I'm reading as it comes.
I'm not.
Gosh, that's awful.
Also, like, these descriptionsare very vivid.
Oh, vivid, yeah.
Yeah, very.
Mark Twain wrote this to me.
(05:19):
Yeah, nice use of the similethere, Steve, from Indiana.
I couldn't fathom how.
How could that nice-lookingcouple, the one my parents had
rented to, have done this?
Yeah.
could their child have lived inthis?
Worse still, there was thewhispered rumor that they had
another family staying withthem.
One family could barely fit inthe place, let alone two.
But as I stepped cautiouslythrough the wreckage, I began to
(05:40):
realize the truth was far moregrotesque than I could have
imagined.
The hallway leading to thebasement was almost impassable,
blocked by bags of trash stackedhigh, each one bulging as though
stuffed with something alive.
My steps echoed hollowly downthe wooden stairs as I descended
into the dim, humid gloom below.
The moment my foot hit the Andthat was just the beginning.
(06:20):
Oh, please.
No.
No more.
Upstairs, the bedrooms were nodifferent.
Mattresses piled on top of eachother.
No box springs.
No pillows.
Just these bare stained husksscattered throughout the rooms.
How many people have lived here?
23?
More?
It was as though the house hadbecome a tomb for the living.
(06:41):
The filth on the mattresseswasn't just dirt.
It was something older.
Something primal.
Holy cow.
Thank you for writing this.
This is without a doubt the mostdramatic thing I've ever heard.
It's like Edgar Allan Poe forsure.
I love I love it.
(07:02):
That's great.
(07:29):
this is how the HBO Derry TVshow is gonna go about
Pennywise.
I don't know about this show.
Yeah, did you know that?
No, yeah, I've not heard this.
Yeah, HBO's doing like a Welcometo Derry, like a Pennywise
prequel to it.
Oh, okay.
But either way, 23 mattressesand Pennywise is chilling out in
this whole house, I guess.
(07:49):
I was about to say, we got somecontent for you, HBO.
Thank you, Steve.
Thank you for writing in withthat Tenet Horror Story.
Holy cow.
Thank you for the narration.
It was beautiful.
Thank you.
Thank you.
That is a real poetic way to saywhat a horrific situation that
must have absolutely been.
Yeah, I agree.
I'm sure this person was anEnglish major in college or
something.
(08:10):
He was using that degree.
Absolutely.
Have you ever been into a reallycrappy house like that, like a
place that's just completelyunkept like that?
I mean, definitely not this bad.
No, no, no.
I mean, obviously in college.
It's like a war zone.
In college, doing house tours ofplaces, you see some ungodly
stuff.
But yeah, not 23 feces-stainedmattresses.
(08:33):
No.
No, that's a rarity.
That's a rare Pokemon.
The worst one that I ever sawwas touring.
I saw a house a few years back,and the tenants must have
recently moved out, but thelandlord didn't completely clear
out the fridge.
And I guess that they forgotabout that or something like
that.
So I went in and opened thefridge for whatever reason, and
it was horrific.
(08:54):
Just a sight that you absolutelydon't want to see.
And it's like you have to think,how do you not...
How do you not catch that?
Like, don't you do that?
Shouldn't you check that, like,frequently?
Yeah, you would think.
I mean, I will say my collegehouse senior year, my roommates
had a party one time in thebasement and left all of the
glasses of alcohol and stuffthere for, like, six more
(09:14):
months.
Six months?
There were species growing inthose cups.
It was disgusting.
Everyone was too scared to,like, clean it up.
Oh, my God.
Like, truly, like,starfish-looking, like, bacteria
species growing.
It was very, very disgusting.
Don't worry.
You got to pour out the woundedsoldiers.
You can't let them fester on thebattlefield.
Yeah, tell my roommates that.
All right.
Well, that was a really goodtenant horror story.
(09:36):
That was a really fun one.
Thank you again, Steve.
If you have a tenant horrorstory that you would like us to
read on the air, email questionsat therentishpod.com.
You want to talk about somebuildings, Patrick?
Let's do it.
What building are we talkingabout today?
We are going to talk about theGuggenheim.
Typically, proptology withPatrick has been one of my
favorite segments here, butwe're going to go ahead and
switch it on over to...
Prop Zach.
(09:57):
Zach with prop.
Properties Zach.
Yeah, there's no ring there.
Prop.
Yeah.
We'll have to workshop that one.
Yeah, the props with Zach.
Something like that.
Yeah, we'll figure it out.
Producers, get on that.
The Guggenheim.
Obviously, we could talk aboutthe building itself, the photo.
First things first.
We're going to do wordassociation.
When you see the Guggenheim,that building, what first comes
(10:19):
to your mind?
Go.
Future and like a Google Homething, like a modem or
something.
Yeah, okay.
Okay.
I see that.
I was going to say futuretoilet.
Okay, I see it.
It's kind of got like the bowlor like one of those things
where, like you remember theride at water parks where it's
like you swoop down a thing.
Oh, like the toilet bowl.
Those were the best.
Yeah, it's kind of like thatexcept for it's like in the
future.
Yeah.
(10:40):
Guggenheim Museum.
It's a landmark of modern andcontemporary art which is
located in New York City.
Patrick.
Yes.
Have you been to the Guggenheim?
I have not.
Okay.
I actually did not know this iswhat it looked like until today.
Yeah.
It's been on my list.
I'm a huge art museum fan.
Yeah.
I love the MoMA, theContemporary Art Institute, like
all of this stuff.
(11:00):
I love going to visit all thesedifferent museums.
I love art museums.
I've never been to theGuggenheim, but it's on my list.
It was part of the Solomon R.
Guggenheim Foundation, centralto the city's cultural identity.
Of course, it's notable for itsunique architecture and diverse
art collection.
Yeah, I mean, the buildingitself, what I think stands out
the most about it is that it isa unique architectural look
(11:22):
here.
I mean, the colors, the way thatit has the big white base.
that has this moremodern-looking building.
It's all very smooth edge, butthen it has this cylindrical
thing going up the top with allthese beautiful colors.
I was looking at the otherpictures that our producers have
in the dock, but the inside ofthe Guggenheim in that spiral,
it's like different rows wherepeople can walk around and look
at the museum, but also it justgoes right down the center.
(11:45):
It's this big, open, it's almostlike the spiral parking garages
is what's coming to mind.
You see that?
All those people can just standon the ledges and look at each
other while they're looking atthe art.
Super cool.
concept really really reallyunique design for an art museum
and you know it makes senseright you would want to you have
this museum that's highlightingmodern and contemporary art
which is some of my favoritelike i love modern art museums
(12:07):
in the way that people are ableto curate really interesting
different takes on what art israther than like traditional
style so it makes sense that abuilding like this would have
its own unique identitydefinitely yeah definitely a
one-of-a-kind building there umhow old is the building oh let's
see here let's go through themhow about some history
highlights pat Yeah, perfect.
Solomon R.
(12:27):
Guggenheim, which is just, whata name.
Yes, that's a sweet name.
It sounds like a custom name inlike an RPG.
Wealthy art collector whoestablished the foundation in
1937 after showcasing hiscollection at the Plaza Hotel.
Frank Lloyd Wright designed it.
SPEAKER_00 (12:43):
Wait, I know that name.
UNKNOWN (12:44):
Oh, yeah.
Who's that?
Well, he was an architect,designer.
He did a lot of furnituredesigns, too.
Frank Lloyd Wright.
SPEAKER_00 (12:53):
If you Google search Frank Lloyd Wright house, you'll
see a lot of his signaturemodernist style.
Oh, okay.
UNKNOWN (13:01):
Yeah, yeah, yeah.
SPEAKER_00 (13:03):
Simon and Garfunkel song.
UNKNOWN (13:04):
Maybe that's it.
No, I took an art history class.
SPEAKER_00 (13:07):
The name is ringing a bell, where I know from not.
UNKNOWN (13:09):
I don't know.
Frank Lloyd Wright furniture isthe stuff that it's like, if you
ever find it,
SPEAKER_00 (13:13):
at a Goodwill, you snatch it up.
UNKNOWN (13:15):
Okay.
SPEAKER_00 (13:15):
I'll be on the lookout.
UNKNOWN (13:16):
You go on the lookout.
He commissioned it in 1943featuring a groundbreaking
spiral form, which wasconstruction starting in 1956
and completed in 1959.
So...
SPEAKER_00 (13:28):
Took about three years to build.
Whoa, that's older than Ithought.
So this is like almost 70 yearsold?
Yep.
UNKNOWN (13:32):
That's crazy.
Late 50s, early 60s, modern art.
Been around for a while, turnsout.
Huh.
Initial reactions from thepublic.
The design was controversial.
It was compared to, quote, aninverted oatmeal bowl.
SPEAKER_00 (13:47):
What?
And a, quote, washing machine.
Okay.
I get the washing machine.
I don't get the oatmeal.
That's a very specific.
Inverted oatmeal bowl?
Like, I don't even know whatthat would look like.
I mean, I don't know.
I get oatmeal out of the samebowl I eat my cereal out of.
I know, right?
Typical bowl.
UNKNOWN (14:04):
The architectural note here, Wright wanted a red hue
for the building, but it waspainted light gray as per
Guggenheim's and the museumdirector's choice.
SPEAKER_00 (14:13):
Originally, I guess they wanted it to have a red
tint, but now it's kind of gotthat white, that cream white or
whatever.
UNKNOWN (14:19):
But I think it kind of looks cool.
It sticks out among the photothat we have on our document.
SPEAKER_00 (14:24):
It's like these two more typical standard sky rises
in a city
UNKNOWN (14:28):
and then you just have this boom feature building in
between them.
It's really cool.
It is very cool.
I'm trying to picture what itwould look like with a red hue
or tint.
SPEAKER_00 (14:38):
Like a red washing machine.
Or
SPEAKER_01 (14:40):
a red inverted oatmeal bowl.
Keep on the lookout next time.
We'll talk about the invertedoatmeal bowl.
We've got to figure that oneout.
Both Wright and Guggenheimpassed away before the museum's
opening.
Sad history note there.
But at least I got to see itconstructed, I'm guessing.
You put this beautiful vision inin place for this museum.
(15:01):
Bummer that they're not aroundfor the actual opening of it,
but it's cool that their legacyhas lived on for this many
years.
That is very cool.
Fun facts.
You ready for some trivia here?
Let's do it.
We have the admission fees forthe museum.
What?
They wrote down the...
Were you ever curious to knowthe admission fees for the
Guggenheim?
(15:21):
Well, we've got them.
Why are those in the fun factssection?
I think the reason they were inthere is because I told one of
our producers it would be funnyif we got or interesting if we
got the admission prices when itfirst opened but I think we just
pasted the admission prices now.
Directly from their website.
(15:43):
Why did he, like, it seems likethere's another, I'm looking at
the sheet, there's another,like, way more fun fact that's
just crossed out.
Yeah, what's the crossed out funfact here?
That's not a fact?
That's a lie?
Well, read it.
Okay, we're going to read it.
The museum, one of the fun factsthat we had on the document was
that the museum's interior ispainted nearly every day to
(16:05):
maintain its pristine whiteappearance, but apparently I'm
hearing that might be fake news.
That's an awesome fact.
We'll fact check that.
But can we confirm that theadmission fee is$25 for adults?
Is that confirmed?
I think that that's got to beconfirmed.
And is it true, Zach, that thestudents and senior discount is
(16:25):
$18?
That's also true, yeah.
And is it true, Zach, thatchildren under 12 get in free?
Yeah, that is also true.
Wow.
It is painted every day.
So that trivia fact is true.
Let's uncross that one out,though.
Yeah.
Unstrike that from the list.
That's a trivia fact.
Love it.
And then, yeah, New York Cityresidents, free admission on the
first Friday of each month from4 p.m.
to 8 p.m.
Oh, wow.
It's like we're shilling for theGuggenheim.
(16:49):
This segment brought to you byGuggenheim.
All right, so movies.
Let's talk movies, Patrick.
You and I love movies.
We're big fans of movies.
The Robert De Niro connection.
The father of actor Robert DeNiro once worked as a guard in
the Guggenheim.
Isn't that interesting?
That is...
Weird poll.
That is such an interesting, funfact.
Seven degrees of separationbetween De Niro and the
(17:12):
Guggenheim.
Right.
All right, movies filmed in thelocation at the Guggenheim.
Men in Black, 1997.
The museum's spiral interiorserves as the backdrop for one
of their action scenes.
Do you remember this?
I don't remember which one.
No, I've seen the movie multipletimes.
It's been a sec, though.
Which scene is it?
It's like the fight scene.
I think that it's not Tommy LeeJones.
(17:34):
Yeah, Tommy Lee Jones, right?
Isn't Tommy Lee Jones in the Menin Black?
Yeah, yeah, yeah.
I think it's like one of thescenes where he's fighting one
of the bad guys or one of thealiens there.
But yeah, I do kind of rememberthat scene.
Men in Black, never one of myfavorite.
It's a good movie, but yeah,it's not one of my favorites per
se.
Yeah, it's all right.
Let's get the international upin here.
2009, memorable shootout occursinside the Guggenheim showcasing
(17:56):
the design.
Do you remember this one?
Oh, I've not seen that movie.
I don't even know what thismovie is.
The international, yeah.
Cactus Flower, 1969, classiccomedy drama includes scenes
shot the museum don't yeah Idon't know that one alright
we're over three three days ofthe condor great movie 1975 okay
so one of the best politicalthrillers out there it's super
good highly recommend RobertRedford he's my man I really
(18:19):
like him too Robert Redford spythriller three days of the
condor that's a prequel toCaptain America the Winter
Soldier it could be honestlyManhattan 1979 this is Woody
Allen's romantic comedy whichused the museum as one of its
New York City landmarks neverone of my favorite Woody Allen
movies but it's I've not seen itIt's solid.
Would it surprise you to knowI've never seen a single Woody
(18:39):
Allen movie?
Really?
That does surprise me.
I've heard that, what's the one?
Macy Gray, Nancy, what's itcalled?
Annie Hall.
Annie Hall, there you go.
Great, great movie.
If you're going to get intoWoody Allen, I would recommend
that being a good startingpoint.
Okay, cool.
We'll have to add that to thelist.
But no, the Guggenheim, it's acool building.
Yeah.
It's on my list of museums tovisit.
I really would like to.
(19:00):
The next time I make a trip toNew York City, I'm going to have
to check it out.
I was in Chicago a coupleweekends ago, and I went to the
Guggenheim.
I went to the Chicago ArtInstitute.
Yeah, one of my favorites.
That was so cool.
So awesome.
Yeah, I'm kind of on an artmuseum kick now, actually.
Yeah, yeah.
So I definitely want to checkthis one out.
Yeah.
Okay.
Awesome.
All right.
Well, that's Propetology withZach.
Hopefully it was a fun littlesegment.
Maybe next time Patrick willtalk to us about another
(19:21):
building.
But we're going to transitionover to listener questions.
I don't think weâ we still don'thaveâ what was theâ did we work
on a segment title for this?
Wasn't it originally Zach withthe facts, but then you're not
actuallyâ That's the newssegment.
Oh, okay.
We still need to workshop atitle for the news segment, so
we'll figure that out.
Yeah, okay.
Tentatively listener questions.
(19:43):
Tentatively listener questions.
Okay, so today we're gonna diveinto another round of
listener-submitted real estatequestions to questions at
therentishpod.com.
Remember, we are not certifiedexperts, so always check with a
professional before making anymajor decisions here, but we're
gonna do our best to give yousome solid tips and insights.
So get comfy, and let's jumpright into these new questions
from our amazing listenersacross the country.
(20:05):
Patrick, do you wanna kick itoff or do you want me to?
I can kick it off.
Go for it, bud.
Okay, first question here isfrom Donna.
Donna is from Miami, Florida,and she's a first-time landlord
who recently purchased a duplexin a vibrant up-and-coming
neighborhood near the city'strendy Wynwood?
I would guess Wynwood isprobably how you pronounce it.
Okay, I have not been to Miami,but okay.
(20:25):
Wynwood District, and Donnaasks, what should I look for
during property inspections?
Zach, you got any thoughts onthat one?
Well, because we're clearlyexperts on property.
Yeah, as an expert.
all the inspection stuff, Iwould say, I mean, we got safety
first, right?
So smoke detectors, carbonmonoxide alarms, secure locks on
doors and windows, like makingsure that all of like the basic
(20:46):
entryways work.
Right.
I would expect like hazardinspection.
There's probably easy thingsthat you could point out with
the naked eye, like, oh, thatstair is a little rickety or
there could be something herethat we might need to like
actually call a repair personfor.
Like if you notice drips oranything like that, that's an
easy thing that you could pointout.
But again, like that's probablylike a consult with a
professional thing where youwant to get someone to actually
tell you what the stability isof it.
(21:07):
People come and check door andlocks all the time.
A property inspection from moreof an expert is definitely
something you're probably goingto want to do because a novice
like you or I or assumedly Donnafrom Miami can only see so much.
If you told me to inspect aproperty, I'd be like, okay,
looks great.
(21:27):
Here's one thing I'd say, Donna,is HVAC.
Last apartment I moved into, theAC did not work oh that's right
you had a problem with this yeahlike two month long disaster it
was like in the middle of julyand august it was so hot ac was
not working there was a changein ownership and the previous
owner was supposed to fix it andthen didn't and then it became
(21:50):
this whole you know i was livingin the apartment as we were
trying to get this fixed therewere like nine different um ac
people coming in and out of myapartment just trying to fix
this thing everyone you know itwas just a disaster so i would
definitely say like in thesummer ac and in the winter
heating depending on where youlive can be crucial.
And I will tell you fromexperience, it is miserable
living in an apartment in like100 degree heat without AC.
(22:13):
Yeah.
One of the first apartments thatI moved into after college was
no electric heat.
It was only like the baseboardheaters.
So it was like you had to flipon each one of those
individually and they didn'twork for like the first month of
the winter.
And if you're unfamiliar withwinter in Midwest Ohio, it gets
pretty cold.
Oh, yeah.
Make sure that you get thatstuff sorted out because, yeah,
(22:34):
I agree with Patrick.
That is an inconvenient You justdon't want to deal with the
middle of winter or thescorching summer heat and not
having proper insulation, HVACand stuff.
Right.
We talked about this kind oflike looking like for immediate
issues and stuff, exteriorconcerns.
So like landscaping, that'sprobably not as like glaringly a
problem for like safety hazards,but like you definitely want to
(22:56):
take note of that kind of thing.
For sure.
Right.
Next question.
Got Mark from Seattle,Washington, who manages several
rental units in Seattle, whoasked as a property owner, I've
faced the dilemma of choosingbetween short-term and long-term
leases.
What are the key advantages andchallenges of each?
Patrick, what are your opinionson short and long-term leases?
So my straight off the dome,this is without consulting any
(23:19):
resources, I'm thinking thatshort-term leases, you can make
more money in a short term.
And I'm thinking just to bringit to the biggest example or the
most extreme example, Airbnb.
The amount of money that you'llmake per day is going to be
higher, but it's going to be alot more work because you're
going to have more turnover,right?
So more work for you to do.
(23:40):
Then there's also, of course,the unknowns, right?
Like with a short-term lease,can you find somebody then fill
up the lease immediately?
Or you could be like without atenant for, I don't know, a
couple months where you're notgenerating any revenue versus a
long-term lease.
In general, I feel like thoseleases are going to be a little
bit more on that average, alittle less money that you're
generating, right?
But like you have, you're lockedin for a year or whatever, where
(24:03):
it's like guaranteed sort ofincome with less turnover.
turnover.
That's just like my gut.
I think your gut's absolutelyright.
I mean, I wasn't even reallythinking about like Airbnbs and
stuff.
I mean, we've talked about thaton prior.
I was using that as an example.
But it totally makes sense,right?
I mean, you have like a shortterm rental if it's like a
vacation property or somethinglike that.
It's still like a technically alease, even if it's only for a
couple of days.
But if it's even like a shorter,shorter term, like let's say you
(24:25):
have a beach house for a monthor whatever, like you could make
more money in that shorterperiod of time.
But then you have to worry aboutbeing clean when they leave and
like the turnover factor, likehave not having something
guaranteed, like a guaranteedfluid source of income, you
know?
So I definitely think that's agreat, that's a great call out.
You're great.
You're a smart guy, Patrick.
Thank you, Zach.
Yeah, you're welcome.
And then the opposite could justbasically be said for long-term
(24:48):
leases, right?
It's consistent rental income,obviously.
I mean, you have a tenant inthere for like a long term, like
if they're, if they're in therefor a year, they're in there for
a year.
And that's basically all youneed to really do.
I mean, you'll have to respondto maintenance stuff and
everything like that.
And then maybe you might havemore issues pop up over a longer
period of time, but But at leastyou've got that locked in.
You've got a steady, consistent,expected stream of income.
(25:11):
Right.
And reduced turnover as well.
Right.
I mean, like even better if theyjust keep renewing the lease
every year, you know, like, youknow, if they're a good tenant,
you don't have to find anotherone.
Yeah.
We'll probably talk about thisat some point with like
applications and screening andlike getting a good tenant.
But if you have a good tenant,someone that you can rely on,
someone that is dependable andthat you think like, oh, this
person will just keep renewingand extending and I've got a
(25:32):
good tenant.
I've got a good thing going.
It's like that's a that's a nicething in life to rely on.
One of the best things as alandlord is a reliable tenant,
for sure.
So, considering the market,right?
So, evaluate the demand in yourarea.
Tourist-heavy areas may benefitmore from these short-term
leases, but urban, suburbanregions may prefer long-term
stability.
I mean, I've rented for years inCincinnati.
(25:53):
I very rarely ever see anythingless than a 12-month lease for
an area like this.
But I'm sure, like I said, thebeach houses, probably, Miami,
what up?
Speaking of Will Smith, wetalked about Men in Black
earlier Welcome to Miami.
It all is connected.
So yeah, thank you for writingin, Mark, from Seattle.
You want to take this last badboy?
I got it.
(26:14):
Question number three is fromRachel from Chicago, Illinois,
who owns a downtown condo.
And she asks, how can I handlenoise complaints from neighbors?
Oh boy.
So my first, I don't know,because I feel like I'm not the
one making the noise complainttypically.
You feel like you're the onemaking the noise?
I feel like I'm the one.
Didn't you have someone complainto you for walking too loud?
(26:36):
Yeah, my neighbor below me.
I ended up being a really niceguy, but the day I moved in, I
got a knock on my door at like2.30 a.m.
And I was like, this is my brandnew apartment.
I'm kind of like, who's at mydoor at 2.30 a.m.?
And so I go up there.
He's like, hi, it's Paul from301.
Oh, he's getting a call out,too.
He came out.
He's like, you're kind ofwalking loud.
(26:57):
I didn't feel bad about it, butI was like, I was ready to fight
if that's what needed to happen.
Really?
Probably not.
That's the next Netflix marqueematch.
It's Paul versus Paul versusPatrick.
Who's knocking on my door at twothirty?
The last thing that went in myhead is the guy who lived below
me, you know, who I'm making.
I'm walking too loud.
(27:19):
But yeah, we ended up getting agood system.
He just kind of, you know, wouldtext me if I'm if I'm I feel
like that's that would be myfirst.
God is like like like it wouldbe annoying if Paul immediately
like goes to, you know, theauthorities.
I'm walking too loud.
You know what I mean?
Like to file a complaint.
What was your voice like?
Sounds kind of like Kermit.
That's not what my neighborssounded like.
(27:39):
Come on the show, Paul.
Email questions attherentishpa.com if you want to
talk to Patrick about theirnoise complaint.
Yeah, I totally agree.
I've been the renter for yearsand years and years and years.
But a smart move by the landlordto help reduce this in the first
place is taking noise reductionmeasures.
The amount of places that I'velived that have creaky wooden
(28:00):
floors and they don't make thesteps to tell tenants, like,
hey, cover this much space withor put up curtains and you know
it's like I lived below a dudeonce that like I'm totally
convinced woke up at 8 a.m.
every morning and put hisboombox right on the floor
literally just a radio and aimedit down every day at 8 a.m.
(28:20):
and would play like ZZ Top andshit and it's like I curse on
the podcast that's alright we'regonna be fine producer's problem
imposed we did you did drop theS-bomb hey that was not me that
was Steve from Indiana that wasfrom Indiana yeah But yeah, I
think that you could do a lot ofsmall measures as a landlord to
(28:40):
put blankets down, or notblankets, you put carpets down.
Carpets or rugs or somethingwhere it's like, hey, we know
that this might be an issue, butwe can take some measures to
help prevent it.
All right, let's say, I got ahypothetical for you here, Zach.
What's a measure?
Okay, hypothetically, let's sayyou're a senior in college, your
roommates and you are hosting aparty in your yard slash garage,
(29:01):
and you have a giant$300 speakerthat you turn up to max And then
within 45 seconds of playing it,a cop pulls up to you and says,
here's a$175 ticket.
I heard like a G6 from thehospital gives you a ticket that
says played like a G6 and couldhear it from the hospital.
(29:22):
What are your thoughts on that?
UNKNOWN (29:53):
do
SPEAKER_01 (29:58):
Well, thank you guys for listening to another episode
of the Rent-ish Podcast.
Patrick, did you have a goodtime today?
I had a good time.
Did you?
I did.
Thank you for asking.
Yeah, we covered a lot of groundtoday.
We got another tenant horrorstory.
We talked about the Guggenheim.
We answered some listenerquestions.
Again, we appreciate everyoneout there for listening.
Please like the podcast.
(30:18):
Follow us on your podcastplatform of choice.
If you're out there, give us afive-star review or a ten-star
review if you can.
As many stars as possible.
Eleven, yeah.
Share with your friends if youhave other friends that are
interested in propertymanagement real estate
podcasting this is a good oneand I think we're going to have
a fun time on this adventuretogether and yeah again
questions at therentishpod.comemail us your questions we'd
(30:42):
love to answer them on the airand you know you may throw in
one about you know movies orsomething like that if you want
Patrick and I to talk aboutmovies or TV or just random
stuff if you just want to askhow our day's going or what our
plans are for the holidays throwthat on in there alright thank
you everybody
What's going on, everybody?
I'm Zach, and I'm here withPatrick.
What up?
We are your hosts for theRent-ish podcast, a podcast
that's kind of about rentalproperties and hosted by two
guys that work in the realestate industry and sort of know
what they're talking about.
(00:20):
But mostly don't.
Yeah.
Yeah, Patrick.
Mostly we don't, which is why Ithink you're going to have fun
hearing us talk to experts andlearning along with us or
laughing at maybe how little weknow.
But it's going to be a goodepisode today, Patrick.
We got three awesome segments totalk about today.
We got a story that I'm justgoing to tease as 23 mattresses
in the house that I can't waitto hear your dramatic narration
(00:43):
of.
We're going to learn all aboutthe Guggenheim, which is one of
the most famous art historybuildings there.
And then we're going to finishthe show off with a bunch of
listener questions.
Sound like Sounds like a goodtime.
Sounds like a good time to me.
Yeah.
Can we talk about this for asecond?
This studio?
Yeah.
New studio setup.
I'm loving it.
New studio.
Who dis?
Comfy chairs now.
Yes.
We've got microphones that likehave arms attached to them.
So it's like we got this wholesetup.
(01:05):
It feels a lot moreprofessional.
Do you feel like a professional?
Moving up in the world, I feelvery much like a professional.
Yeah, yeah, yeah.
We might not know what we'retalking about when it comes to
the real estate part, but atleast we look like podcasters.
Right, right.
If NPR walked into this room,they'd be like, hire these guys.
Yes.
I still had to make my own cupof coffee.
So hopefully we can, you know,What a shame, what a shame.
(01:41):
You want to dive in, Pat?
Let's do it.
Okay, cool.
Like you briefly mentioned, wegot the 23 mattresses in the
house tenant horror story here.
I'm going to be doing a dramaticreading of the story once again.
Can't wait.
The story comes from Steve, alandlord in Indiana, who thought
he was renting his old familyhouse to a nice couple with one
(02:02):
child.
But as months passed, thingstook a sinister turn.
Steve's house wasn't justhousing a small family.
It had become a nightmarish denof...
What a ghoulish openingstatement.
It's a tenet horror story.
This reads like the best IMDbmovie I've ever seen.
(02:23):
Let's dive in here.
The house loomed before me, anall too familiar relic of my
childhood.
But as I stepped out of my car,a sense of foreboding settled
over me like a thick fog.
The smell was already there,heavy and suffocating, even from
20 feet away.
It clung to the air, a grotesquemix of rot and decay, crawling
(02:45):
into my lungs with every shallowbreath.
I had no intention of gettingcloser without protection, so I
turned on my heel, got back intothe car, and sped off to the
nearest store to grab arespirator.
I wasn't about to let whateverfestered seep into my system.
I don't think anyone's ever saidrespirator as hardcore as you
just did.
I appreciate that.
(03:06):
Thank you.
That's a compliment.
When I returned, mask strappedtight to my face, the dread only
deepened.
I stood at the front door, thehandle cold and unyielding under
my gloved fingers.
Which I didn't know that thatwas used as an adjective.
Gloved.
Gloved.
Yeah.
I think Gloved?
(03:26):
Gloved is great, though.
That's what I thought it was.
That's fabulous.
Yeah, okay, word of the day.
With a deep breath, I pushed itopen, and the full force of the
stench hit me like a tidal wave.
I had to grip the doorframe forsupport, my vision blurring for
a moment as nausea threatened tooverwhelm us.
This was beyond filth.
It was as if the house itselfhad been consumed by some
(03:49):
festering disease spreading intoevery corner and crevice.
Yikes.
I don't like where this isgoing.
I got to tell you right now.
Bad smells can't do it.
I'm wondering what it like.
I wish I could smell it.
I wish we had a 4D sort ofpodcast experience.
Do you?
I'm kind of curious.
Come on, producers.
They've got like stink bombsready.
(04:12):
It's a one and done use podcaststudio.
We're about to destroy thisplace.
The living room was a war zone.
The walls were pockmarked withgaping holes as though fists or
worse had torn through them infits of rage.
The carpet was no longerrecognizable as fabric.
Instead, a grimy patchwork ofstains, fluids, and debris.
SPEAKER_00 (04:34):
Oh
SPEAKER_01 (04:35):
my god.
Trash was everywhere, piled highin every direction.
Broken furniture, plastic bagsstuffed with god knows what,
half-eaten food molding inforgotten corners.
But that wasn't the worst of it.
The Furniture, the sofa where myfamily once sat, was smeared
with shit.
Literal human waste.
The rancid, sickly brown streaksmarking the cushions like crude
(04:58):
war paint.
God, Patrick, we got to becareful.
I mean, we might be turning offsome listeners.
But make sure this episode ismarked as, like, explicit.
Yeah, right.
I'm reading as it comes.
I'm not.
Gosh, that's awful.
Also, like, these descriptionsare very vivid.
Oh, vivid, yeah.
Yeah, very.
Mark Twain wrote this to me.
(05:19):
Yeah, nice use of the similethere, Steve, from Indiana.
I couldn't fathom how.
How could that nice-lookingcouple, the one my parents had
rented to, have done this?
Yeah.
could their child have lived inthis?
Worse still, there was thewhispered rumor that they had
another family staying withthem.
One family could barely fit inthe place, let alone two.
But as I stepped cautiouslythrough the wreckage, I began to
(05:40):
realize the truth was far moregrotesque than I could have
imagined.
The hallway leading to thebasement was almost impassable,
blocked by bags of trash stackedhigh, each one bulging as though
stuffed with something alive.
My steps echoed hollowly downthe wooden stairs as I descended
into the dim, humid gloom below.
The moment my foot hit the Andthat was just the beginning.
(06:20):
Oh, please.
No.
No more.
Upstairs, the bedrooms were nodifferent.
Mattresses piled on top of eachother.
No box springs.
No pillows.
Just these bare stained husksscattered throughout the rooms.
How many people have lived here?
23?
More?
It was as though the house hadbecome a tomb for the living.
(06:41):
The filth on the mattresseswasn't just dirt.
It was something older.
Something primal.
Holy cow.
Thank you for writing this.
This is without a doubt the mostdramatic thing I've ever heard.
It's like Edgar Allan Poe forsure.
I love I love it.
(07:02):
That's great.
(07:29):
this is how the HBO Derry TVshow is gonna go about
Pennywise.
I don't know about this show.
Yeah, did you know that?
No, yeah, I've not heard this.
Yeah, HBO's doing like a Welcometo Derry, like a Pennywise
prequel to it.
Oh, okay.
But either way, 23 mattressesand Pennywise is chilling out in
this whole house, I guess.
(07:49):
I was about to say, we got somecontent for you, HBO.
Thank you, Steve.
Thank you for writing in withthat Tenet Horror Story.
Holy cow.
Thank you for the narration.
It was beautiful.
Thank you.
Thank you.
That is a real poetic way to saywhat a horrific situation that
must have absolutely been.
Yeah, I agree.
I'm sure this person was anEnglish major in college or
something.
(08:10):
He was using that degree.
Absolutely.
Have you ever been into a reallycrappy house like that, like a
place that's just completelyunkept like that?
I mean, definitely not this bad.
No, no, no.
I mean, obviously in college.
It's like a war zone.
In college, doing house tours ofplaces, you see some ungodly
stuff.
But yeah, not 23 feces-stainedmattresses.
(08:33):
No.
No, that's a rarity.
That's a rare Pokemon.
The worst one that I ever sawwas touring.
I saw a house a few years back,and the tenants must have
recently moved out, but thelandlord didn't completely clear
out the fridge.
And I guess that they forgotabout that or something like
that.
So I went in and opened thefridge for whatever reason, and
it was horrific.
(08:54):
Just a sight that you absolutelydon't want to see.
And it's like you have to think,how do you not...
How do you not catch that?
Like, don't you do that?
Shouldn't you check that, like,frequently?
Yeah, you would think.
I mean, I will say my collegehouse senior year, my roommates
had a party one time in thebasement and left all of the
glasses of alcohol and stuffthere for, like, six more
(09:14):
months.
Six months?
There were species growing inthose cups.
It was disgusting.
Everyone was too scared to,like, clean it up.
Oh, my God.
Like, truly, like,starfish-looking, like, bacteria
species growing.
It was very, very disgusting.
Don't worry.
You got to pour out the woundedsoldiers.
You can't let them fester on thebattlefield.
Yeah, tell my roommates that.
All right.
Well, that was a really goodtenant horror story.
(09:36):
That was a really fun one.
Thank you again, Steve.
If you have a tenant horrorstory that you would like us to
read on the air, email questionsat therentishpod.com.
You want to talk about somebuildings, Patrick?
Let's do it.
What building are we talkingabout today?
We are going to talk about theGuggenheim.
Typically, proptology withPatrick has been one of my
favorite segments here, butwe're going to go ahead and
switch it on over to...
Prop Zach.
(09:57):
Zach with prop.
Properties Zach.
Yeah, there's no ring there.
Prop.
Yeah.
We'll have to workshop that one.
Yeah, the props with Zach.
Something like that.
Yeah, we'll figure it out.
Producers, get on that.
The Guggenheim.
Obviously, we could talk aboutthe building itself, the photo.
First things first.
We're going to do wordassociation.
When you see the Guggenheim,that building, what first comes
(10:19):
to your mind?
Go.
Future and like a Google Homething, like a modem or
something.
Yeah, okay.
Okay.
I see that.
I was going to say futuretoilet.
Okay, I see it.
It's kind of got like the bowlor like one of those things
where, like you remember theride at water parks where it's
like you swoop down a thing.
Oh, like the toilet bowl.
Those were the best.
Yeah, it's kind of like thatexcept for it's like in the
future.
Yeah.
(10:40):
Guggenheim Museum.
It's a landmark of modern andcontemporary art which is
located in New York City.
Patrick.
Yes.
Have you been to the Guggenheim?
I have not.
Okay.
I actually did not know this iswhat it looked like until today.
Yeah.
It's been on my list.
I'm a huge art museum fan.
Yeah.
I love the MoMA, theContemporary Art Institute, like
all of this stuff.
(11:00):
I love going to visit all thesedifferent museums.
I love art museums.
I've never been to theGuggenheim, but it's on my list.
It was part of the Solomon R.
Guggenheim Foundation, centralto the city's cultural identity.
Of course, it's notable for itsunique architecture and diverse
art collection.
Yeah, I mean, the buildingitself, what I think stands out
the most about it is that it isa unique architectural look
(11:22):
here.
I mean, the colors, the way thatit has the big white base.
that has this moremodern-looking building.
It's all very smooth edge, butthen it has this cylindrical
thing going up the top with allthese beautiful colors.
I was looking at the otherpictures that our producers have
in the dock, but the inside ofthe Guggenheim in that spiral,
it's like different rows wherepeople can walk around and look
at the museum, but also it justgoes right down the center.
(11:45):
It's this big, open, it's almostlike the spiral parking garages
is what's coming to mind.
You see that?
All those people can just standon the ledges and look at each
other while they're looking atthe art.
Super cool.
concept really really reallyunique design for an art museum
and you know it makes senseright you would want to you have
this museum that's highlightingmodern and contemporary art
which is some of my favoritelike i love modern art museums
(12:07):
in the way that people are ableto curate really interesting
different takes on what art israther than like traditional
style so it makes sense that abuilding like this would have
its own unique identitydefinitely yeah definitely a
one-of-a-kind building there umhow old is the building oh let's
see here let's go through themhow about some history
highlights pat Yeah, perfect.
Solomon R.
(12:27):
Guggenheim, which is just, whata name.
Yes, that's a sweet name.
It sounds like a custom name inlike an RPG.
Wealthy art collector whoestablished the foundation in
1937 after showcasing hiscollection at the Plaza Hotel.
Frank Lloyd Wright designed it.
SPEAKER_00 (12:43):
Wait, I know that name.
UNKNOWN (12:44):
Oh, yeah.
Who's that?
Well, he was an architect,designer.
He did a lot of furnituredesigns, too.
Frank Lloyd Wright.
SPEAKER_00 (12:53):
If you Google search Frank Lloyd Wright house, you'll
see a lot of his signaturemodernist style.
Oh, okay.
UNKNOWN (13:01):
Yeah, yeah, yeah.
SPEAKER_00 (13:03):
Simon and Garfunkel song.
UNKNOWN (13:04):
Maybe that's it.
No, I took an art history class.
SPEAKER_00 (13:07):
The name is ringing a bell, where I know from not.
UNKNOWN (13:09):
I don't know.
Frank Lloyd Wright furniture isthe stuff that it's like, if you
ever find it,
SPEAKER_00 (13:13):
at a Goodwill, you snatch it up.
UNKNOWN (13:15):
Okay.
SPEAKER_00 (13:15):
I'll be on the lookout.
UNKNOWN (13:16):
You go on the lookout.
He commissioned it in 1943featuring a groundbreaking
spiral form, which wasconstruction starting in 1956
and completed in 1959.
So...
SPEAKER_00 (13:28):
Took about three years to build.
Whoa, that's older than Ithought.
So this is like almost 70 yearsold?
Yep.
UNKNOWN (13:32):
That's crazy.
Late 50s, early 60s, modern art.
Been around for a while, turnsout.
Huh.
Initial reactions from thepublic.
The design was controversial.
It was compared to, quote, aninverted oatmeal bowl.
SPEAKER_00 (13:47):
What?
And a, quote, washing machine.
Okay.
I get the washing machine.
I don't get the oatmeal.
That's a very specific.
Inverted oatmeal bowl?
Like, I don't even know whatthat would look like.
I mean, I don't know.
I get oatmeal out of the samebowl I eat my cereal out of.
I know, right?
Typical bowl.
UNKNOWN (14:04):
The architectural note here, Wright wanted a red hue
for the building, but it waspainted light gray as per
Guggenheim's and the museumdirector's choice.
SPEAKER_00 (14:13):
Originally, I guess they wanted it to have a red
tint, but now it's kind of gotthat white, that cream white or
whatever.
UNKNOWN (14:19):
But I think it kind of looks cool.
It sticks out among the photothat we have on our document.
SPEAKER_00 (14:24):
It's like these two more typical standard sky rises
in a city
UNKNOWN (14:28):
and then you just have this boom feature building in
between them.
It's really cool.
It is very cool.
I'm trying to picture what itwould look like with a red hue
or tint.
SPEAKER_00 (14:38):
Like a red washing machine.
Or
SPEAKER_01 (14:40):
a red inverted oatmeal bowl.
Keep on the lookout next time.
We'll talk about the invertedoatmeal bowl.
We've got to figure that oneout.
Both Wright and Guggenheimpassed away before the museum's
opening.
Sad history note there.
But at least I got to see itconstructed, I'm guessing.
You put this beautiful vision inin place for this museum.
(15:01):
Bummer that they're not aroundfor the actual opening of it,
but it's cool that their legacyhas lived on for this many
years.
That is very cool.
Fun facts.
You ready for some trivia here?
Let's do it.
We have the admission fees forthe museum.
What?
They wrote down the...
Were you ever curious to knowthe admission fees for the
Guggenheim?
(15:21):
Well, we've got them.
Why are those in the fun factssection?
I think the reason they were inthere is because I told one of
our producers it would be funnyif we got or interesting if we
got the admission prices when itfirst opened but I think we just
pasted the admission prices now.
Directly from their website.
(15:43):
Why did he, like, it seems likethere's another, I'm looking at
the sheet, there's another,like, way more fun fact that's
just crossed out.
Yeah, what's the crossed out funfact here?
That's not a fact?
That's a lie?
Well, read it.
Okay, we're going to read it.
The museum, one of the fun factsthat we had on the document was
that the museum's interior ispainted nearly every day to
(16:05):
maintain its pristine whiteappearance, but apparently I'm
hearing that might be fake news.
That's an awesome fact.
We'll fact check that.
But can we confirm that theadmission fee is$25 for adults?
Is that confirmed?
I think that that's got to beconfirmed.
And is it true, Zach, that thestudents and senior discount is
(16:25):
$18?
That's also true, yeah.
And is it true, Zach, thatchildren under 12 get in free?
Yeah, that is also true.
Wow.
It is painted every day.
So that trivia fact is true.
Let's uncross that one out,though.
Yeah.
Unstrike that from the list.
That's a trivia fact.
Love it.
And then, yeah, New York Cityresidents, free admission on the
first Friday of each month from4 p.m.
to 8 p.m.
Oh, wow.
It's like we're shilling for theGuggenheim.
(16:49):
This segment brought to you byGuggenheim.
All right, so movies.
Let's talk movies, Patrick.
You and I love movies.
We're big fans of movies.
The Robert De Niro connection.
The father of actor Robert DeNiro once worked as a guard in
the Guggenheim.
Isn't that interesting?
That is...
Weird poll.
That is such an interesting, funfact.
Seven degrees of separationbetween De Niro and the
(17:12):
Guggenheim.
Right.
All right, movies filmed in thelocation at the Guggenheim.
Men in Black, 1997.
The museum's spiral interiorserves as the backdrop for one
of their action scenes.
Do you remember this?
I don't remember which one.
No, I've seen the movie multipletimes.
It's been a sec, though.
Which scene is it?
It's like the fight scene.
I think that it's not Tommy LeeJones.
(17:34):
Yeah, Tommy Lee Jones, right?
Isn't Tommy Lee Jones in the Menin Black?
Yeah, yeah, yeah.
I think it's like one of thescenes where he's fighting one
of the bad guys or one of thealiens there.
But yeah, I do kind of rememberthat scene.
Men in Black, never one of myfavorite.
It's a good movie, but yeah,it's not one of my favorites per
se.
Yeah, it's all right.
Let's get the international upin here.
2009, memorable shootout occursinside the Guggenheim showcasing
(17:56):
the design.
Do you remember this one?
Oh, I've not seen that movie.
I don't even know what thismovie is.
The international, yeah.
Cactus Flower, 1969, classiccomedy drama includes scenes
shot the museum don't yeah Idon't know that one alright
we're over three three days ofthe condor great movie 1975 okay
so one of the best politicalthrillers out there it's super
good highly recommend RobertRedford he's my man I really
(18:19):
like him too Robert Redford spythriller three days of the
condor that's a prequel toCaptain America the Winter
Soldier it could be honestlyManhattan 1979 this is Woody
Allen's romantic comedy whichused the museum as one of its
New York City landmarks neverone of my favorite Woody Allen
movies but it's I've not seen itIt's solid.
Would it surprise you to knowI've never seen a single Woody
(18:39):
Allen movie?
Really?
That does surprise me.
I've heard that, what's the one?
Macy Gray, Nancy, what's itcalled?
Annie Hall.
Annie Hall, there you go.
Great, great movie.
If you're going to get intoWoody Allen, I would recommend
that being a good startingpoint.
Okay, cool.
We'll have to add that to thelist.
But no, the Guggenheim, it's acool building.
Yeah.
It's on my list of museums tovisit.
I really would like to.
(19:00):
The next time I make a trip toNew York City, I'm going to have
to check it out.
I was in Chicago a coupleweekends ago, and I went to the
Guggenheim.
I went to the Chicago ArtInstitute.
Yeah, one of my favorites.
That was so cool.
So awesome.
Yeah, I'm kind of on an artmuseum kick now, actually.
Yeah, yeah.
So I definitely want to checkthis one out.
Yeah.
Okay.
Awesome.
All right.
Well, that's Propetology withZach.
Hopefully it was a fun littlesegment.
Maybe next time Patrick willtalk to us about another
(19:21):
building.
But we're going to transitionover to listener questions.
I don't think weâ we still don'thaveâ what was theâ did we work
on a segment title for this?
Wasn't it originally Zach withthe facts, but then you're not
actuallyâ That's the newssegment.
Oh, okay.
We still need to workshop atitle for the news segment, so
we'll figure that out.
Yeah, okay.
Tentatively listener questions.
(19:43):
Tentatively listener questions.
Okay, so today we're gonna diveinto another round of
listener-submitted real estatequestions to questions at
therentishpod.com.
Remember, we are not certifiedexperts, so always check with a
professional before making anymajor decisions here, but we're
gonna do our best to give yousome solid tips and insights.
So get comfy, and let's jumpright into these new questions
from our amazing listenersacross the country.
(20:05):
Patrick, do you wanna kick itoff or do you want me to?
I can kick it off.
Go for it, bud.
Okay, first question here isfrom Donna.
Donna is from Miami, Florida,and she's a first-time landlord
who recently purchased a duplexin a vibrant up-and-coming
neighborhood near the city'strendy Wynwood?
I would guess Wynwood isprobably how you pronounce it.
Okay, I have not been to Miami,but okay.
(20:25):
Wynwood District, and Donnaasks, what should I look for
during property inspections?
Zach, you got any thoughts onthat one?
Well, because we're clearlyexperts on property.
Yeah, as an expert.
all the inspection stuff, Iwould say, I mean, we got safety
first, right?
So smoke detectors, carbonmonoxide alarms, secure locks on
doors and windows, like makingsure that all of like the basic
(20:46):
entryways work.
Right.
I would expect like hazardinspection.
There's probably easy thingsthat you could point out with
the naked eye, like, oh, thatstair is a little rickety or
there could be something herethat we might need to like
actually call a repair personfor.
Like if you notice drips oranything like that, that's an
easy thing that you could pointout.
But again, like that's probablylike a consult with a
professional thing where youwant to get someone to actually
tell you what the stability isof it.
(21:07):
People come and check door andlocks all the time.
A property inspection from moreof an expert is definitely
something you're probably goingto want to do because a novice
like you or I or assumedly Donnafrom Miami can only see so much.
If you told me to inspect aproperty, I'd be like, okay,
looks great.
(21:27):
Here's one thing I'd say, Donna,is HVAC.
Last apartment I moved into, theAC did not work oh that's right
you had a problem with this yeahlike two month long disaster it
was like in the middle of julyand august it was so hot ac was
not working there was a changein ownership and the previous
owner was supposed to fix it andthen didn't and then it became
(21:50):
this whole you know i was livingin the apartment as we were
trying to get this fixed therewere like nine different um ac
people coming in and out of myapartment just trying to fix
this thing everyone you know itwas just a disaster so i would
definitely say like in thesummer ac and in the winter
heating depending on where youlive can be crucial.
And I will tell you fromexperience, it is miserable
living in an apartment in like100 degree heat without AC.
(22:13):
Yeah.
One of the first apartments thatI moved into after college was
no electric heat.
It was only like the baseboardheaters.
So it was like you had to flipon each one of those
individually and they didn'twork for like the first month of
the winter.
And if you're unfamiliar withwinter in Midwest Ohio, it gets
pretty cold.
Oh, yeah.
Make sure that you get thatstuff sorted out because, yeah,
(22:34):
I agree with Patrick.
That is an inconvenient You justdon't want to deal with the
middle of winter or thescorching summer heat and not
having proper insulation, HVACand stuff.
Right.
We talked about this kind oflike looking like for immediate
issues and stuff, exteriorconcerns.
So like landscaping, that'sprobably not as like glaringly a
problem for like safety hazards,but like you definitely want to
(22:56):
take note of that kind of thing.
For sure.
Right.
Next question.
Got Mark from Seattle,Washington, who manages several
rental units in Seattle, whoasked as a property owner, I've
faced the dilemma of choosingbetween short-term and long-term
leases.
What are the key advantages andchallenges of each?
Patrick, what are your opinionson short and long-term leases?
So my straight off the dome,this is without consulting any
(23:19):
resources, I'm thinking thatshort-term leases, you can make
more money in a short term.
And I'm thinking just to bringit to the biggest example or the
most extreme example, Airbnb.
The amount of money that you'llmake per day is going to be
higher, but it's going to be alot more work because you're
going to have more turnover,right?
So more work for you to do.
(23:40):
Then there's also, of course,the unknowns, right?
Like with a short-term lease,can you find somebody then fill
up the lease immediately?
Or you could be like without atenant for, I don't know, a
couple months where you're notgenerating any revenue versus a
long-term lease.
In general, I feel like thoseleases are going to be a little
bit more on that average, alittle less money that you're
generating, right?
But like you have, you're lockedin for a year or whatever, where
(24:03):
it's like guaranteed sort ofincome with less turnover.
turnover.
That's just like my gut.
I think your gut's absolutelyright.
I mean, I wasn't even reallythinking about like Airbnbs and
stuff.
I mean, we've talked about thaton prior.
I was using that as an example.
But it totally makes sense,right?
I mean, you have like a shortterm rental if it's like a
vacation property or somethinglike that.
It's still like a technically alease, even if it's only for a
couple of days.
But if it's even like a shorter,shorter term, like let's say you
(24:25):
have a beach house for a monthor whatever, like you could make
more money in that shorterperiod of time.
But then you have to worry aboutbeing clean when they leave and
like the turnover factor, likehave not having something
guaranteed, like a guaranteedfluid source of income, you
know?
So I definitely think that's agreat, that's a great call out.
You're great.
You're a smart guy, Patrick.
Thank you, Zach.
Yeah, you're welcome.
And then the opposite could justbasically be said for long-term
(24:48):
leases, right?
It's consistent rental income,obviously.
I mean, you have a tenant inthere for like a long term, like
if they're, if they're in therefor a year, they're in there for
a year.
And that's basically all youneed to really do.
I mean, you'll have to respondto maintenance stuff and
everything like that.
And then maybe you might havemore issues pop up over a longer
period of time, but But at leastyou've got that locked in.
You've got a steady, consistent,expected stream of income.
(25:11):
Right.
And reduced turnover as well.
Right.
I mean, like even better if theyjust keep renewing the lease
every year, you know, like, youknow, if they're a good tenant,
you don't have to find anotherone.
Yeah.
We'll probably talk about thisat some point with like
applications and screening andlike getting a good tenant.
But if you have a good tenant,someone that you can rely on,
someone that is dependable andthat you think like, oh, this
person will just keep renewingand extending and I've got a
(25:32):
good tenant.
I've got a good thing going.
It's like that's a that's a nicething in life to rely on.
One of the best things as alandlord is a reliable tenant,
for sure.
So, considering the market,right?
So, evaluate the demand in yourarea.
Tourist-heavy areas may benefitmore from these short-term
leases, but urban, suburbanregions may prefer long-term
stability.
I mean, I've rented for years inCincinnati.
(25:53):
I very rarely ever see anythingless than a 12-month lease for
an area like this.
But I'm sure, like I said, thebeach houses, probably, Miami,
what up?
Speaking of Will Smith, wetalked about Men in Black
earlier Welcome to Miami.
It all is connected.
So yeah, thank you for writingin, Mark, from Seattle.
You want to take this last badboy?
I got it.
(26:14):
Question number three is fromRachel from Chicago, Illinois,
who owns a downtown condo.
And she asks, how can I handlenoise complaints from neighbors?
Oh boy.
So my first, I don't know,because I feel like I'm not the
one making the noise complainttypically.
You feel like you're the onemaking the noise?
I feel like I'm the one.
Didn't you have someone complainto you for walking too loud?
(26:36):
Yeah, my neighbor below me.
I ended up being a really niceguy, but the day I moved in, I
got a knock on my door at like2.30 a.m.
And I was like, this is my brandnew apartment.
I'm kind of like, who's at mydoor at 2.30 a.m.?
And so I go up there.
He's like, hi, it's Paul from301.
Oh, he's getting a call out,too.
He came out.
He's like, you're kind ofwalking loud.
(26:57):
I didn't feel bad about it, butI was like, I was ready to fight
if that's what needed to happen.
Really?
Probably not.
That's the next Netflix marqueematch.
It's Paul versus Paul versusPatrick.
Who's knocking on my door at twothirty?
The last thing that went in myhead is the guy who lived below
me, you know, who I'm making.
I'm walking too loud.
(27:19):
But yeah, we ended up getting agood system.
He just kind of, you know, wouldtext me if I'm if I'm I feel
like that's that would be myfirst.
God is like like like it wouldbe annoying if Paul immediately
like goes to, you know, theauthorities.
I'm walking too loud.
You know what I mean?
Like to file a complaint.
What was your voice like?
Sounds kind of like Kermit.
That's not what my neighborssounded like.
(27:39):
Come on the show, Paul.
Email questions attherentishpa.com if you want to
talk to Patrick about theirnoise complaint.
Yeah, I totally agree.
I've been the renter for yearsand years and years and years.
But a smart move by the landlordto help reduce this in the first
place is taking noise reductionmeasures.
The amount of places that I'velived that have creaky wooden
(28:00):
floors and they don't make thesteps to tell tenants, like,
hey, cover this much space withor put up curtains and you know
it's like I lived below a dudeonce that like I'm totally
convinced woke up at 8 a.m.
every morning and put hisboombox right on the floor
literally just a radio and aimedit down every day at 8 a.m.
(28:20):
and would play like ZZ Top andshit and it's like I curse on
the podcast that's alright we'regonna be fine producer's problem
imposed we did you did drop theS-bomb hey that was not me that
was Steve from Indiana that wasfrom Indiana yeah But yeah, I
think that you could do a lot ofsmall measures as a landlord to
(28:40):
put blankets down, or notblankets, you put carpets down.
Carpets or rugs or somethingwhere it's like, hey, we know
that this might be an issue, butwe can take some measures to
help prevent it.
All right, let's say, I got ahypothetical for you here, Zach.
What's a measure?
Okay, hypothetically, let's sayyou're a senior in college, your
roommates and you are hosting aparty in your yard slash garage,
(29:01):
and you have a giant$300 speakerthat you turn up to max And then
within 45 seconds of playing it,a cop pulls up to you and says,
here's a$175 ticket.
I heard like a G6 from thehospital gives you a ticket that
says played like a G6 and couldhear it from the hospital.
(29:22):
What are your thoughts on that?
UNKNOWN (29:53):
do
SPEAKER_01 (29:58):
Well, thank you guys for listening to another episode
of the Rent-ish Podcast.
Patrick, did you have a goodtime today?
I had a good time.
Did you?
I did.
Thank you for asking.
Yeah, we covered a lot of groundtoday.
We got another tenant horrorstory.
We talked about the Guggenheim.
We answered some listenerquestions.
Again, we appreciate everyoneout there for listening.
Please like the podcast.
(30:18):
Follow us on your podcastplatform of choice.
If you're out there, give us afive-star review or a ten-star
review if you can.
As many stars as possible.
Eleven, yeah.
Share with your friends if youhave other friends that are
interested in propertymanagement real estate
podcasting this is a good oneand I think we're going to have
a fun time on this adventuretogether and yeah again
questions at therentishpod.comemail us your questions we'd
(30:42):
love to answer them on the airand you know you may throw in
one about you know movies orsomething like that if you want
Patrick and I to talk aboutmovies or TV or just random
stuff if you just want to askhow our day's going or what our
plans are for the holidays throwthat on in there alright thank
you everybody
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