A landlord documents a rental disaster he calls the Poonit: a tenant with three dogs caused roughly $30,000 in damage in four months by soiling floors, walls, and furniture. He shows the graphic reality of property management and why rental income is far from passive.
Chapters
The next unit we're going to go into, we call the Punit. It's about $30,000 of damage. She signed a lease 1 month before we went under contract for the property. In 4 months, she destroyed the unit so bad I am horrified to go into, but it's part of the game. So when I say we're getting free real estate, yeah, we'll make some money, but this is part of what you're dealing with. This is not passive income. This is actually pretty gross money. Okay, now the Punit. So this tenant was only here for a few months. They moved in while we were under contract, which I don't usually allow, and this is why. $30,000 of damage? Does the floor look dirty to you? Well, news is not dirt. That is feces. There were 3 dogs in here. They let them shit all over the floor, in the walls. Look at this. That's all just turds and urine. This couch is just saturated with pee. It's horrible.