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Old 05-07-2017, 01:06 PM
 
1,940 posts, read 3,537,646 times
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I am amazed at how quickly the rental prices have skyrocketed since I left Houston five years ago! I was paying $750 for a one bedroom near Sugar Land that is now asking just over $1k. I always like to check-in to see what I'd be paying if I stayed in Houston. Everywhere I lived (I liked to move every 12 months) has gone up by $300-$500. That is crazy since my salary there would only have gone up about $2k.

I currently pay $1850 for a one bedroom in a nice part of LA (I got a good discount because I waited until the price dropped on a slow weekend and the leasing agent helped me out. Similar units in the complex go for around $2200), but I make $25k more per year here (minus $4k in state income taxes). Houston has gotten pricy!
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Old 05-07-2017, 09:31 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,116,551 times
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Quote:
Originally Posted by PinkLadyK View Post
I'm not sure that is discriminatory. I'm sure there are statistics that show that a couple would be better tenants than a single person. Not in every case, obviously, but in general.

No you cannot discriminate against single people. It's just cheaper to run 2 apps at the same time.

Quote:
Originally Posted by timtemtym View Post
I am amazed at how quickly the rental prices have skyrocketed since I left Houston five years ago! I was paying $750 for a one bedroom near Sugar Land that is now asking just over $1k. I always like to check-in to see what I'd be paying if I stayed in Houston. Everywhere I lived (I liked to move every 12 months) has gone up by $300-$500. That is crazy since my salary there would only have gone up about $2k.

I currently pay $1850 for a one bedroom in a nice part of LA (I got a good discount because I waited until the price dropped on a slow weekend and the leasing agent helped me out. Similar units in the complex go for around $2200), but I make $25k more per year here (minus $4k in state income taxes). Houston has gotten pricy!
Just wanted to bring this to everyone's attention. The practice of moving every time the lease is up actually winds up costing you a premium. The landlord has to freshen paint, shampoo, etc. every time that happens (not to mention down time, while that is going on). This gets added to the rents over time. I have several investor clients - and it is very common to cut the long-term renter a big break on the market rates. Over time, that gap between "good renter rate" and market rate gets bigger and bigger.

Faced with two comparable apps, with one having a good reason to move and the other states that they are moving "because the lease is up", the landlord will choose the one that is not likely to move just because "it's time".

Last edited by cheryjohns; 05-07-2017 at 11:01 PM..
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Old 05-08-2017, 10:34 AM
 
1,835 posts, read 3,241,671 times
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Quote:
Originally Posted by cheryjohns View Post
No you cannot discriminate against single people. It's just cheaper to run 2 apps at the same time.



Just wanted to bring this to everyone's attention. The practice of moving every time the lease is up actually winds up costing you a premium. The landlord has to freshen paint, shampoo, etc. every time that happens (not to mention down time, while that is going on). This gets added to the rents over time. I have several investor clients - and it is very common to cut the long-term renter a big break on the market rates. Over time, that gap between "good renter rate" and market rate gets bigger and bigger.

Faced with two comparable apps, with one having a good reason to move and the other states that they are moving "because the lease is up", the landlord will choose the one that is not likely to move just because "it's time".
Yup - I am a landlord who owns several properties. I have 2 long term tenants that are 40% below market rent at least....The only increase I ever pass onto these tenants are the taxes/insurance. I'd rather make less money with a good tenant who pays on time and takes care of the property than have to constantly mess with painting/carpet/and finding a new tenant.

Lets not forget how big a chunk of the profit a realtor takes out of a 1 year lease too...
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Old 05-08-2017, 09:04 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,116,551 times
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Quote:
Originally Posted by marksmu View Post
Yup - I am a landlord who owns several properties. I have 2 long term tenants that are 40% below market rent at least....The only increase I ever pass onto these tenants are the taxes/insurance. I'd rather make less money with a good tenant who pays on time and takes care of the property than have to constantly mess with painting/carpet/and finding a new tenant.

Lets not forget how big a chunk of the profit a realtor takes out of a 1 year lease too...
Correct - the landlord will have to pay anywhere from the equivalent of a month's rent (a half month for some), unless the house is in a high-traffic area. If he is paying that on a yearly basis, as opposed to every 3 or 4 years, it's just another thing to be absorbed into the rental rate, sooner or later.

Kudos to you for rewarding good renters.
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Old 05-09-2017, 06:59 PM
 
23,177 posts, read 12,050,873 times
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Quote:
Originally Posted by cheryjohns View Post
Just wanted to bring this to everyone's attention. The practice of moving every time the lease is up actually winds up costing you a premium. The landlord has to freshen paint, shampoo, etc. every time that happens (not to mention down time, while that is going on). This gets added to the rents over time. I have several investor clients - and it is very common to cut the long-term renter a big break on the market rates.
My experience is the opposite. Apartments will offer new tenants special deals like a free month's rent but diddly squat to renewals.
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Old 05-09-2017, 08:48 PM
 
5,976 posts, read 15,191,620 times
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Default Appliance Fees!

Ha! At first glance, I thought the title was 'Appliance Fees', and thought WTF! That is not the funny thing, the funny thing is that I did not put it past management companies to charge appliance fees. I thought it was the latest, just like airlines find ways to nickle and dime you.... 'Oh, you want a range with your apartment? Oh, and would you also like a refrigerator? Oh, you want to connect YOUR refrigerator, okay!'. $$$
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Old 05-09-2017, 09:24 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,116,551 times
Reputation: 15226
Quote:
Originally Posted by HookTheBrotherUp View Post
Ha! At first glance, I thought the title was 'Appliance Fees', and thought WTF! That is not the funny thing, the funny thing is that I did not put it past management companies to charge appliance fees. I thought it was the latest, just like airlines find ways to nickle and dime you.... 'Oh, you want a range with your apartment? Oh, and would you also like a refrigerator? Oh, you want to connect YOUR refrigerator, okay!'. $$$
Ha! Reminds me of some builders - the plan cost $X - and everything is an upgrade. (Other builders' standard choices are better than the first group of builder's upgrades).
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Old 05-10-2017, 09:22 AM
 
Location: Cypress, TX
348 posts, read 455,386 times
Reputation: 317
Quote:
Originally Posted by oceangaia View Post
My experience is the opposite. Apartments will offer new tenants special deals like a free month's rent but diddly squat to renewals.
Exactly! Maybe individual property owners tend to give their long term tenants a break. I don't think apartment complexes do that at all.
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Old 05-10-2017, 11:35 AM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,116,551 times
Reputation: 15226
Quote:
Originally Posted by fbf2006 View Post
Exactly! Maybe individual property owners tend to give their long term tenants a break. I don't think apartment complexes do that at all.
Yeah, I was talking about individual property owners. I think apartment management companies treat their renters much like cellular phone companies treat their customers, where the new is always viewed more valuable than the tried and true.
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Old 05-12-2017, 07:33 AM
 
1,765 posts, read 4,329,530 times
Reputation: 2308
Quote:
Originally Posted by cheryjohns View Post
Yeah, I was talking about individual property owners. I think apartment management companies treat their renters much like cellular phone companies treat their customers, where the new is always viewed more valuable than the tried and true.

Yes. For the life of me I cannot figure out why they don't do headstands to keep good tenants like me - over 8 years in same place, never miss a rent on time, don't cause problems or have constant needs.
But rent goes up, up up. There is a lot of turnover in the office itself so maybe they think that's just
the way it is with the renter population! I'm a terrible negotiator so that doesn't help...I'm the
only person in the world who pays street vendors what they ask
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