this post was submitted on 21 Dec 2024
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Classic DIY landlord story. Had a coworker who bought an all but derelict house, which he split into "apartments" and did all maintenance himself. For him, tenant turnover was pure profit - he'd grab the cheapest paint from the supermarket, slap it on everything (outlets included), give the floors a quick once-over, and pocket the full security deposit. Three months' rent for a Saturday's "work."
His favorite scam? Convincing tenants to pay deposits in cash because it would be "easier to return" from his safe. Several times a year he'd pocket thousands in untaxed cash since there was "no paper trail." Tenant turnover was his real income stream - much better than dealing with those pesky long-term renters always complaining about moldy walls, leaky faucets and unplowed snow.
Last I heard, he was trying to unload the place on Facebook Marketplace. Don't know why, maybe the IRS (or tax daddy, as it's colloquially known in Danish) got wind of his cash flow.
What a fucking parasite.