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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 91  
Subject: Constant Maintenance Date: 8/8/2011 7:51 AM
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We have rented a place in GA, settling in since our recent arrival. It is a place that has huge potential, and a fabulous setting, but it is definitely marred by what appears to be lack of day to day maintenance. The property has been in service as a VR for about 8 years now, and some of the issues like the carpeting needs to be replaced, worn and stained, are pretty pricy. Much of it however is stuff like missing or cracked switch/outlet plates, handles that fell off the kitchen cabinets, dents and scratches in the wall...each by itself not a huge deal, but one on top of the other compounding into a place that is rather run down.

Had these issues been taken care of as they came up, they would have been so much easier to deal with. Now the house is for sale, and the deferred maintenance making it tough to unload, not withstanding the fantastic water frontage in this strongly buyers market.

We met the owner last night, when she had DH help her to unload the new grill from her truck, and handed him the instructions and all the parts that Lowes had not put on. I don't know if owning and managing a VR was simply more than she had anticipated, if the tough N GA economy has simply slammed her business, but she is sending this place into a death spiral with her lack of attention. The better you have a place maintained, the better the occupants tend to take care of it. Let it slide downhill, and people won't bother with the common courtesies that protect the home, and treat it as the property in decline that it is.

I do worry that our enthusiasm for owning a VR will dampen after a few years. That's one reason why our specifications for the property we buy are so tight, that it be able to serve as our retirement home when Youngest heads off to college in 4 years, that are able to pay for it without income from the property and that we love the place ourselves. While I know we love the VR concept, certainly our experience of having used them for the past 10+ years will be a different reality from owning and managing one. This is a great investment on paper...what new visions will reality bring?

IP
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