Apartment rentals

Hello biz, 19 years old here, recently i began to manage my mother's apartments.

I wanted some opinions from you.

The story in short:

My mother inherited 2 old apartaments from my grandpa 4 years ago. For 4 years she didn't care about fixing them up or managing them.

So i asked her if i could manage them, fix them up and rent.

Now, i was managing those aparments for rent last year, and spent the money i gained renting to fix them up a bit, since they were quite old, the plumbing was fucked up and many other things.

Suddenly it came up that old taxes from those 4 last years haven't been paid by my mother, and have to be paid, and my mother asked me to pay them with the money i gained from the rents.

Take in account that my mother didn't help me in any way to manage, fix, clean or anything else during this time.

Should i give her the money to pay those taxes?

Yes you fucking dropkick. They're hers, consider it your initial investment since you did nothing to earn them.

Why do you put yourself in such a situation to begin with? You should buy the apartments from her.

But yeah pay the taxes, you cunt.

Kill your mother and rent her apartment as well for 33% extra profit

Yes. You used them as an income source so the taxes on the money you made should be paid by you.

how is this even a question. give her the money to pay them. you're going to sour your relationship with your mom over money?

I meant the taxes from house property, not from the income

We know what you meant you cunt. Pay debts. She is your mom!!!

disagree with other anons - if she has unpaid backtaxes, she should pay. you're not getting equity so your role is akin of a property manager, not an owner. either that or she pays you a fair market rate for the repairs you've made (your labor must be accounted into that as well, not just the money out of your pocket)

the answer is pretty fucking obvious, even for a mongoloid 19-year-old such as yourself.

Imagine being such a fucking kike you expect free property from your own mum but won't pay their upkeep.

well yes you retard, pay your mother, your lucky she has you do it.
my mother has a extra house but she rents it out and keeps the rent..

So i should pay taxes+ extra taxes because of late payment because my mother didn't care to pay them, even though those years i wasn't even involved?

hes going to inherit those houses when she dies.. so its like they are his.

Yes, you kike.
If you want to be full Jew then think of next year when the apartments are fixed up and the rent is basically yours (after taxes).

If you won't do her a favour, why the fuck would she do you a bigger one by letting you rent them? Does family mean nothing to you?

I paid all the taxes for the year i was involved in, so you think it's fair that i should pay too those backtaxes?

You're an ungrateful fuck. I feel sorry for your Mom that you have to ask these questions.

Pay the taxes. It's your mother who raised you.

OP is a faggot little spoiled kid

Veeky Forums made me proud today.
OP as always is a faggot.


i hope she changes her will to give these properties to some animal shelter or something.

Alright, some more info:

I kept for myself 10% of the gains, all the rest i spent on this year taxes, and fixing the apartments.
How is it fair that all my time and labor won't be paid?

Because once they're fixed and taxes paid, I assume you get it all. It's called investing. Why do you expect free money?

Hey Fucking retard op, you know the government will seize the house if you dont pay the taxes? The house you wouldve inherited otherwise? God you are dumb


Pay them.
They'll most likely end up being yours in the future.
Being able to manage them and make profit even before that is more than you should have hoped from her.

News flash. Life is not fair

Give me her address, I'll be a better son for her

Dude, I hope this is some twisted new baitthread, but just in case you're for real...

You've had your answer since the first ten posts in this thread hit the board. Just do the right thing and enjoy your gains from then on.

On top of everything else, it's still a good deal. And buy a gift for your wee mom for even considering skimping on her, don't be such a cunt.

Btw Veeky Forums I have a similar kind of question.
My mother renovated a good apartment and hinted that she could let me manage it.
I was thinking the best option is to provide it on AirBnB.
What do you think? Also is it worth it to let another agency manage it or thrill rip me off on comissions?

This, I'd be a good son and pay the taxes, on the condition that she let's me take her out for a nice date and finishes me off on the ride home

She's the owner, if anything you're the pleb that works for her. She should pay the taxes though, they weren't under your management back then.

But goodluck getting her to pay them

I get it, i understand you. Those reeeing in this thread have never worked with their parents. IF you pay the taxes she owes for her property, do it officially, on paper, so you can pull it out if she decides to sell the houses off. You cant tell the future. You must help your parents, but you must also discontinue work relations if they enable your parents to continue retarded, unprofitable endeavours and if your parents are completely unable to separate work and private life. I know its impossible but a certain degree of respect is often overdrawn in family businesses. Nowhere are hierarchies as strict and retarded as in families.
T. Son of parents that made some retarded decisions with money.

The problem is that there's around - an estimate-
20k worth of backtaxes to pay + 50k usd to finish to fix the apartments. It will be diluited in 3-4 years, but i won't be able to make all that money by renting only.

Plus, for sure, if i will ever be granted ownership, one of the apartments will go to my brother.

pay them and convince her to sell you the properties for super cheap
enjoy not having to pay (((inheritance))) taxes

Need more info.
>Where are you?
>Are you willing to put in the time to manage it, tenants can be a pain in the ass, and that is why very large companies manage properties
>Can you fix shit or will you have to outsource it?
>Will you be able to consistently fill the AirBnB listing? I feel like this is more risk/liability then it is worth sometimes depending on local laws

No such thing really as easy money. If you do not have an income/job right now you should think about doing it. Otherwise you will probably be better off hiring a management company to do it all and just pay their % to avoid the headaches

Yeah that's the main issue.
She was so dumb not to pay taxes, because she thought she could evade them. Now there's +30% more to pay.
Plus the apartments are really old (around 50 years old) And in the last 15 years there hasn't been a proper fixing.

There's the plumbing to be remade completely,walls, etc etc. I did what i could with my own time and handwork to make them liveable, but there's going to need a lot of money.

And she's not saving up a penny to pay for anything.

That's what you get for being a know-it-all teenager.

>Plus, for sure, if i will ever be granted ownership, one of the apartments will go to my brother.

Did your mother abuse you as a child? Do you have any reason at all not to love her? Are you just this much of a horrible person? If so I feel sorry for your mother.

In any case pay the taxes YOURSELF!!!
You should talk to your mom and brother about longterm what happens to the apartments. Your brother should share repair costs, but also the profits/rent!

>quad checked
and he's right

Sounds like your mom is a layabout and you should just stop meddling in her apartments that she seems intent on losing

No, that's not the issue. The issue is with the government, there's a lot of documents missing, stuff not paid, abusive stuff in the apartments that they might just be demolished.
That because no one care to manage the apartments properly.

Yeah, that's another problem. She already accepted grandpa's inheritance.
I'll get her debts, if she keeps on not paying.

She often changes her mind about this money, at first she told me to keep it, then to use half for the house and keep half for me (Which i didn't keep, since there's too much stuff to pay for).
Now that i used so much in fixing the aparmtnets, she's also asking for this backtaxes stuff.

best bet is to insure one and then burn it down

The real issue is, you thought you knew better than everyone else around you. Instead, you've put yourself in a position only a fucking moron would put themselves. Have fun OP.

1) I live in Athens, Greece. I've been hearing AirBnB apts are pretty popular with tourists looking to get this whole downtown feel. Mine is also in a good spot with transport to the Acropolis and the center.
I've heard prices ranging even at 150 yuros, but I dont know how easy it is to get someone to pay 5* hotel level money
2) Right now I'm working an internship position earning minimum wage which here is not bad for someone my age(22) and will continue to do so until maybe mid August. I dont have that much time but I can make if its worth the money.
3) Tbh no
4) As I said its in a good spot, it only remains to find the right price

Where do you live OP? Not sure how it works in other countries but in the US you do not inherit debt, unless you were a cosigner/co-owner on the properties

Not sure I have much advice for you then, I wouldnt trust some Greek management company with it lol

Trying to fix things up means putting myself in a dumb position?
My name is not in any document though. But all the debts that will keep on being not paid, will be mine in the future.

Here you can choose not to inherit, but if you inherit you have to take the full inheritance (property, money + debts) or nothing.
Point is my mother also shares the property of the family house with my father, so when i'll get my dad's inhertitance i'll also lose half of that house if i decline my mother's debts.

Yes, it wasn't your place to "fix things up". You should know better than any of us how your mother thinks and behaves. If what you're saying is true (and I doubt it to be honest), I sure as fuck wouldn't have done what you did in your position.

Where do you live? I mean, yeah you probably will not inherit a bill, but they will liquidate her shit to pay her taxes/any debts so you wont get them

Sell at least one property to pay off debts. Otherwise it will only get worse

you're probably better off asking elsewhere as this thread is larp.

No point in lying, just looking for opinions.

I'll probably pay those taxes anyway, since no one else is.

Problem is i began thinking there were no crazy backtaxes to be paid.
And what would have you done? Just did nothing and let the debts kill me once my mother is gone?

Italy. Yeah probably that's what will happen.

If you don't your apartments and your income go bye bye. You inhereted a mess, fix it up, stay longterm focused but keep current, you'll have some good experience and hopefully some nice properties one day

Be careful with the advice in this thread. YOU have not inherited anything yet. You could go through all this trouble of spending money/time handling your family's mess, and your mother could go ahead and give the properties to someone else in her will. Nothing is entitled to you yet

op sounds like you should talk to your mom. it's her fault for not paying taxes, but since you're taking the income from this, you're responsible for it. Talk to her about it, she may be willing to cover some of the expenses for the past due taxes. That would be fair IMO. Also, each year up the rate by a little bit. If its a small enough amount, people won't really care enough to move out, and over time that will add up

Sorry to be blunt but i see it like this. Your mom was overwhelmed by the heritage, you came along and offered to 'take care of everything', so she gladly accepted. Now, if this wasnt a family affair, you wouldnt be liable for taxes not paid before you took over, period. Because its family, you are. Period. Your mom fucked you over, but not maliciously, but because humans err.

My parents took over my grandfathers business. He cooked the books and hid liabilities to make the business seem much more profitable than it was. My parents ended up paying his retirement, his new home, and had to sell land to pay off the loans because the business simply wasnt profitable enough. Yes, he fucked them over, and today my dad and granddad dont talk.

You must be very careful with family and business because, if your parents arent extremely professional and understand whats at risk

A. Your mom and dad will be your bosses forever

B. You can never leave without it being taken personal

My advice would be to make her sell you the houses. Dont look at it as a rip off, look at it as a way for her to pay the tax she owes. Be diplomatic about it and make it clear that you wont play businessman for her to sell the property to your brothers in the end. Ive done so much retard work for my dad, its funny. I do it as a hobby, not as a way to earn money (i do it for free) but he sometimes hints at me taking over. Thing is, id never really take over. Hed just get more and more.into my face about how to do things, discussing everything for nothing, driving me insane. I learned that character flaws become more pronounced with age, so thats also something you must take into account.

As long as it's not money from your own pocket, and the money actually goes to the taxes, then yeah no question about it.
After all, it was her apartment and showing her you are thankful doesn't hurt!

Yes but don't you think it's more profitable for him to keep the apartments in the long run? He can make a nice passive income for life with these if he handles it good.
(refered to your point about selling it)

What would I have done? I wouldn't have got myself into this mess as you have nothing in writing.
Family or not, you need shit in writing. This is something you'll have to chalk up to experience and think before you leap into something in future.

Yeah that would have been probably a good thing to have done.

Yo wtf were you doing with the rent money? All the rent money should go to mortgages and taxes before you even think about doing anything else you dumbshit.

Yeah i'm doing it because of that mostly.

Point is. Last year when i began and i fixed some thigns she didn't care much, i also didnt gain much.
Then i slowly began to earn much more, and the apartments would be better day by day.
Now that a lot of works is done, that i spent so much time, she's beginning to push to have a say in how the money is used.

She first told me to keep it -the first year, it wasnt much-
Then she said half to me, half to the house.
Now after i spend even a part of my half for the apartments, she's asking to pay the taxes.

I could drop out anytime, nothing's written, but it pisses me off to have wasted so much time, and that i've done a real good job with so little resources.

Took accounts: Fixed one apartment.
Rented one apartment--> that money on the other apartment to be fixed.
And so on. I would fix them little by little, as money came.
I took in account the taxes that would come, but past ones...i didn't because i didn't know before a couple of months ago.

>nothing's written
That's the biggest mistake you can make when it comes to business.

Id fuck your mom and take money from her.

That's how little I value her

Welp sorry but she sounds a little slippery. That's okay, my entire family of 5 is exactly the same.

The way I see it is first agreement. But to keep a better relationship with her, you may consider paying ONLY what is liable to the property.
If she keeps adding stuff you should spend the rent money on later and later then that's just fucked up and she is taking advantage of you. A mother taking advantage of her son is disgusting.
My point was, if I were in your shoes, paying the property taxes would be ok but the limit. Never any money to her outside of the properties.

Don't pay your mom's fucking taxes. That's retarded. Incase you didn't understand, everyone here is trolling you.

Oh so they weren't being rented before you started and your mom let the taxes build up on them? Yeah maybe that is kinda bullshit that you are on the hook.

You need to have things on paper. If you mom hired a property manager no way would they pay back taxes for her.

Yeah, but what would i do?
Not pay, then she'll get emotional or some kind of shit, and i'll have wasted so much time and resources. This year probably i'd make much more money than last year, since i have a good amount of reviews and stuff.

(It's house for vacations, so it's short term rent)

From my understanding it was taxes for ownership transfer...?

Yeah exactly that.
Now she's pulling the "It's my house" card, to convince me to give up a part of that money for the backtaxes

That's the truth, but damn, i'd be even glad to help if she did help me in anything during this year and half

>From my understanding it was taxes for ownership transfer...?

doubt it, that should have been taken out of the estate taxes when grandpa died.

She likely didn't pay property taxes or something.

No no, it's taxes for the property ownership. No one paid them.
Also water hasn't been paid in 6-7 years lol

Realistic and negative is the way to think here, not overly optimistic. You love your mom, not her investment skills

Can your country force a heritage on you?

Well yeah, the problem is that if her investment skill sucks, and she doesn't care and keeps on piling up debts...And then won't take responsibility for it..well.

Anyway i don't have enough money to buy one full apartment sadly, or i would have probably done it.

Give advice or go fuck yourself.

No, but if i don't accept it, as i said, i will also lose half of my father's house.

Sound, its hard but makes it manageable

OP, STOP paying your mother's taxes. She should liquidate one of her properties to pay her taxes/debts. You have no lawful ownership from your grandfather's estate, and all this trouble you go through now could all be a complete waste of time and you end up not getting the properties later. You need to sit down with her and figure all this out if you are going to continue to manage the properties. They are not yours now, and they may never be. Keep that in mind...

You should pay taxes for the years that you've been drawing rent money and that should have been discussed before you agreed to do anything. That way you can have a budget for repairs and any work you would need to do.

Id say sell as much as you need to fix up one house so it can be rented out competitively - dont aim to make them all competitive in the future with money that, right now, doesnt exist. Or even worse, you owe.

Thats what i mean. If she isnt able to let go fully you must discuss that with her. Make any deal you want with her, but stick to it. If she wants to hire you as a manager, take a salary. If she wants to sell you property, buy it off her. Dont do the mom and son business where she ages and yells over your shoulder which tax should be paid and which shouldnt.

>Your mother lets you use her property for free to generate income
>She lets you pocket all the income
>Unexpected costs associated with these properties arise

And you want her to take the costs? Jesus fucking christ. Had she known what a piece of shit you'd become, I'm sure she would have "accidentally" drowned you in the bath tub when you were a kid.

I only paid a small part of it yet.

I already told her today that i won't pay the rest of back taxes, and that i'm going to manage the rent money as i wish, and even if she doesn't accept, i want money from her as compensation for the work and time i've put.

What the hell I don't know anymore.. Slippery woman.... This doesn't feel right to let you do all the work and then pay her fuck ups which she did on purpose. That's probably why she gave you the properties then in the first place, to take advantage of the situation.

In many countries word is equally valid to written

Pay the back taxes. I assume this would wipe out all the profits you've made in the past few year which is why you're hesitant to do it. That doesn't matter, This is an investment so that you can continue to make profits in the future. Don't be a faggot and tell your mom no cause then you won't get shit.

Another thing I would do is to ask your mom to give you ownership of one of the apartments in exchange for continuing to manage both of them. That way you don't get fucked over. No matter what happens you still got a free apartment.

Troll more.
As i wrote already, i kept 10% for me as of right now, the rest has been invested in the apartments.

There should be an agreement. You take a % or salary as part of managing them. And she can take the rest to pay the debts/do as she pleases

That is why no investor of sound mind buys properties/does business in those countries. You ever wonder why foreign money invests in US real estate?

So i wouldn't pay for handworks, fixing, cleaning etc? Yeah that would be ideal.
Managing is really the smallest part of all of this.
Just talk with some people, welcome them, some small marketing. Takes not much effort, and a manageable amount of time
It's pretty easy.

I'm not trolling. If you were my kid, I would have thrown you off a fucking bridge and collected the insurance money.

The apartments are still hers. And you were the one to approach her about "managing" them and renting them out. You were the one to initiate and you've been making free money off of her ownership. And now that costs arise, she's suddenly responsible again?

Give her the apartments back. Let her pay the taxes. Subtract the value of what you think your labor has been worth (average income for someone who leeches off their parents), and you're set. You don't get to leech anymore, and she gets to pay what she owes.