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Is there any truth to the notion that a lot of rentals in a subdivision can negatively impact property values? There are a lot of newly built homes in my neighborhood that were bought by an investor that are posted for rent and it's got me feeling nervous.
In my opinion, any negative stigma comes not from renters per se, but from the condition of the rental homes. Are these rental homes in your neighborhood in good shape ?? Are the properties kept neat and clean ?? Are there any junk cars on cinder blocks in the yard ?
An Investor's only obligation is not just to collect a check every month. Screen your tenants. Enforce the HOA rules.
In my subdivision we have some renters, but they are Boeing C-level managers on assignment from Washington state. They keep- their homes in better shape than some of the owners here.
In my opinion, any negative stigma comes not from renters per se, but from the condition of the rental homes. Are these rental homes in your neighborhood in good shape ?? Are the properties kept neat and clean ?? Are there any junk cars on cinder blocks in the yard ?
An Investor's only obligation is not just to collect a check every month. Screen your tenants. Enforce the HOA rules.
In my subdivision we have some renters, but they are Boeing C-level managers on assignment from Washington state. They keep- their homes in better shape than some of the owners here.
True.....BUT rental properties = your neighborhood can be pegged as being transient in nature, which most certainly can impact home values. This is one reason why some communities with strong HOA's will forbid rentals.
There are exceptions to the rule of course, such as peninsular Charleston.
In my opinion, any negative stigma comes not from renters per se, but from the condition of the rental homes. Are these rental homes in your neighborhood in good shape ?? Are the properties kept neat and clean ?? Are there any junk cars on cinder blocks in the yard ?
An Investor's only obligation is not just to collect a check every month. Screen your tenants. Enforce the HOA rules.
In my subdivision we have some renters, but they are Boeing C-level managers on assignment from Washington state. They keep- their homes in better shape than some of the owners here.
On the other hand, I have a rental in Ladson in a neighborhood that has seen better days. It was a nice place when I lived there ~12-15 years ago, but since then it's gone downhill. Really starting to wonder if it isn't time to sell before it gets worse..
As I said, if the general neighborhood starts to get run-down, values will be impacted.....whether it's a renter or an owner. Nobody wants to live on Tobacco Road.
Is it a corporate investor?
Google: Invitation Homes or American Home 4 Rent and be ready to get sick. Big article in NY Times on 3/8 & 3 months ago in Forbes -- horrible, beyond belief.
As long as the homes are kept up well and the tenants are quality neighbors, then there shouldn't be a negative impact. Most buyers have no idea how many or which houses in a neighborhood are rentals. (this is different if it's a condo complex)
The problem comes because a lot of landlords don't maintain their properties and tenants have little incentive to do anything in the way of landscaping, etc. There's also going to be a higher % of renters who are problematic neighbors vs homeowners.
So I'd agree with the first response that it's not the fact that it's a rental per se, but what oftengoes hand in hand with rental properties. Unfortunately, it's never going to be a plus to have a lot of rentals in your neighborhood.
In my opinion, any negative stigma comes not from renters per se, but from the condition of the rental homes. Are these rental homes in your neighborhood in good shape ?? Are the properties kept neat and clean ?? Are there any junk cars on cinder blocks in the yard ?
An Investor's only obligation is not just to collect a check every month. Screen your tenants. Enforce the HOA rules.
In my subdivision we have some renters, but they are Boeing C-level managers on assignment from Washington state. They keep- their homes in better shape than some of the owners here.
These are newly built homes that were purchased by an investment company for rental. There's about 8 or 9 of them all in close proximity to each other, all with "For Rent" signs out front.
Is it a corporate investor?
Google: Invitation Homes or American Home 4 Rent and be ready to get sick. Big article in NY Times on 3/8 & 3 months ago in Forbes -- horrible, beyond belief.
Are these homes in an HOA? If so, there will be some control over what he renters can do.
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