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Old 10-11-2018, 11:25 PM
 
Location: CO/UT/AZ/NM Catch me if you can!
4,253 posts, read 3,949,899 times
Reputation: 9432

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Quote:
Originally Posted by DrDog View Post
Yes, renters donít pay property tax.
Sure they do. If you own a rental and the property tax goes up, what do you do? Pass it along to your renters in the form of a rent increase.
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Old 10-12-2018, 12:00 PM
 
Location: Colorado Springs
3,786 posts, read 1,464,109 times
Reputation: 2894
Quote:
Originally Posted by DrDog View Post
Yes, renters donít pay property tax.
Which is why property tax should be raised.
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Old 10-12-2018, 03:19 PM
 
331 posts, read 163,491 times
Reputation: 532
Quote:
Originally Posted by BornintheSprings View Post
Which is why property tax should be raised.
And the renters will keep paying higher and higher rents as a result.

Thoughts?
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Old 10-12-2018, 03:47 PM
 
Location: Colorado Springs
3,786 posts, read 1,464,109 times
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Quote:
Originally Posted by LHS79 View Post
And the renters will keep paying higher and higher rents as a result.

Thoughts?
Rent control? We need to fight against the landlords.
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Old 10-14-2018, 10:20 AM
 
608 posts, read 319,572 times
Reputation: 824
Quote:
Originally Posted by BornintheSprings View Post
Rent control? We need to fight against the landlords.
Would this apply to only large rental management companies that own apartments, or say just anyone who wants to rent out a house they own?
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Old 10-14-2018, 10:35 AM
 
Location: Colorado Springs
3,786 posts, read 1,464,109 times
Reputation: 2894
Quote:
Originally Posted by abcdefg567 View Post
Would this apply to only large rental management companies that own apartments, or say just anyone who wants to rent out a house they own?
Ideally it should apply to all landlords. There could be reasonable allowances made for slowly raising rents but I don't think the current situation is very fair especially since wages have not kept pace with the cost of living.
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Old 10-14-2018, 01:48 PM
 
Location: Colorado Springs
2,668 posts, read 1,666,689 times
Reputation: 2913
So, as a property owner, have you held rents at their 2008 levels or lower?

On my properties, I have negotiated with tenants on increases because I've got very good tenants that I'd like to keep. However, I'm not willing to forgo all profit potential for altruistic reasons.
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Old 10-16-2018, 09:18 AM
 
Location: Colorado Springs
3,786 posts, read 1,464,109 times
Reputation: 2894
Quote:
Originally Posted by TCHP View Post
So, as a property owner, have you held rents at their 2008 levels or lower?

On my properties, I have negotiated with tenants on increases because I've got very good tenants that I'd like to keep. However, I'm not willing to forgo all profit potential for altruistic reasons.
I still make a profit as well but I charge well below market rates and I do most of the repairs myself except for plumbing haha. Honestly though housing is a contentious issue and I just don't see the private sector being responsible to the housing needs of the most vulnerable in society.
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Old 10-16-2018, 01:45 PM
 
Location: Colorado
9,734 posts, read 6,265,376 times
Reputation: 17549
When I lived in Iowa, and in Washington, I rented from private owners. The one place I lived for 6 years, and other one for 3 years, and in both of those homes, the landlords never once raised my rent. I paid on time, I kept the place up, I didn't bother the neighbors, and they wanted me to stay.

When I have rented from professional management companies though? Yeah, they jack it up to some degree every year. And I have noticed that in the Springs, it is far more difficult to find privately owned rentals, most of the rental market is saturated with managed properties. I suspect this is often due to military owners who relocate and leave a property management company in charge.

I actually work for a company where one of our products is software that directs property managers in optimization of rents. They will go for the max that they can get. If you're lucky they might have some scheme whereby you save if you renew early or something, but rent is constantly and rapidly going up, so you will either face steep and continuous hikes or you won't find a competitive deal by trying to move, most likely.

Honestly what I would most like to see...it's not really a matter of taxation... I'd like to see home loans available to regular civilian folks with no down payment, if they qualify based on various criteria like stable and adequate income, consistently timely rent payments that are equivalent to what the mortgage payment would be, and credit rating. I think that if I have records of having paid my rent on time 100% going back over a decade, and it can be verified with rental references, and my income and credit history are solid, there is no reason that I should need to come up with tens of thousands of dollars for a down payment. The VA loan gives that ability to veterans but the down payment is a barrier to entry for home ownership for a lot of non-military people. I think that if more civilians were able to realistically own property here, then more locals would be able to rent out properties, and manage them more or less themselves, since they live here. You'd be able to find a house to rent that was not professionally managed, and with that competition in place, the constant increase in rent might slow down a bit.

I am definitely NOT talking about giving home loans to unqualified buyers like the predatory loan rackets of pre-2008. I mean giving premium terms to very qualified people. There are many of us who manage to have good financial stability but can't realistically just save up $20k or more to buy a house.
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Old 10-16-2018, 02:15 PM
 
20,304 posts, read 37,790,850 times
Reputation: 18081
Sonic, some no money down mortgages are reappearing in the markets. Story is here.

These are not NINJA or Liar Loans like ten years ago and may be suitable for some people.
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