When purchasing a new rental property there are things to take into consideration that may not show up on your checklist or even a professional inspector’s list. One thing I recently confronted was a damaged city trash dumpster used by the tenants to throw their trash. Its so happened that the bottom of the trash dumpster was deteriorated and so when the city came to pick up the trash, half of the trash
would get poured out to the middle of the alleyway. It did not take long for me to realize that I had a mountain of trash all over the place right outside my rental property. It took me about two and half hours, a pair of thick gloves plus holding my breath and ask him myself “what did I get myself into??” I ended up calling the city’s trash division to get it replaced. They said it would take up to two weeks to get a trash dumpster replacement. Although this has no direct financial effect on you as far as purchasing the new rental property, you may want to ask the new seller to manage that issue before you become the new owner. Ideally it could be taken care of while in escrow so that it has ample time for to be resolved or replaced. And if
you have new tenants coming in, it will definitely help not having a mountain of trash in your alleyway. This is today’s food for thought in real estate rental business
