Frustrated and stressed

[msina]

Because most rentals include heat and hot water. Oil has become extremely expensive and the majority of exesting rental homes use heating oil. It's not personal expense in most cases, it's the cost to heat the property the lessee lives in.

[flycessna]

Originally Posted by flmom28

I personally don't understand why a landlord should raise rent on a tenant just because there personal expenses are going up. If the mortgage is not going up than why should it effect someone that has been so loyal to you for so many years? That person paid your bills in the past, helped to secure the future of you investment, and helped to feed your children, why should they have to pay for your extra expenses. I mean if they lived there for 33 years they should have essentially paid off the portion of the mortgage for that rental property, right? I don't know maybe it is just me but I don't think it is fair to raise the expenses of others because we can not handle our own. We own rental properties and ours are down here in Florida, where everything is more expensive. We have never raised the rent on a tenant because we have always charged enough to cover the mortgage, taxes, and insurance for the homes. Infact one of the homes is a $6000 annual loss in its self but the others cover that loss. We are not out to make money off the tenants monthly. It is called an investment property for a reason, because eventually you will make a profit off it. If you are struggling, so are they!!!!!!!!

[flycessna]

Originally Posted by genmomto5

That doesn't make sense to me. His fuel costs related to the rental are going up. These aren't his personal costs, nor should they be a gift to the tenant. He could have raised the rent to meet the cost increase completely but only raised the rent a small portion of the cost to him.

I had the impression that it was not the small increase in rent but the overall increase in the cost of living that made the tenant decide to leave and share costs with her sister. Flycessna seems, to me, to be a decent landlord lamenting the struggles his elderly tenants are dealing with and he is saddended by the loss of a long time tenant who is also a friend.

exactley

[mollysmiles]

Originally Posted by flmom28

I personally don't understand why a landlord should raise rent on a tenant just because there personal expenses are going up. If the mortgage is not going up than why should it effect someone that has been so loyal to you for so many years? That person paid your bills in the past, helped to secure the future of you investment, and helped to feed your children, why should they have to pay for your extra expenses. I mean if they lived there for 33 years they should have essentially paid off the portion of the mortgage for that rental property, right? I don't know maybe it is just me but I don't think it is fair to raise the expenses of others because we can not handle our own. We own rental properties and ours are down here in Florida, where everything is more expensive. We have never raised the rent on a tenant because we have always charged enough to cover the mortgage, taxes, and insurance for the homes. Infact one of the homes is a $6000 annual loss in its self but the others cover that loss. We are not out to make money off the tenants monthly. It is called an investment property for a reason, because eventually you will make a profit off it. If you are struggling, so are they!!!!!!!!

everything more expensive?? how much are you paying for heating oil down there?? honestly, this is not written in such a way that makes me believe you have renters. I also find it hard to believe that in FL the insurance and taxes never go up.... or, maybe you just over-charged your "renters" in the first place with that expectation.

No, I think not.

[mollysmiles]

Originally Posted by flycessna

exactley

ayuh

[Cornerguy1]

I suspect the landlord expense scenario in Maine and other cold-weather climates differs considerably from those in a warm climate. Heating is a must have rather than an option, and dramaticly more expensive petroleum prices are a challenge to both tenants and landlords.

My sincere congratulations to a couple of our regulars on their civility and restraint.

[Maineah]

Originally Posted by Cornerguy1

I suspect the landlord expense scenario in Maine and other cold-weather climates differs considerably from those in a warm climate. Heating is a must have rather than an option, and dramaticly more expensive petroleum prices are a challenge to both tenants and landlords.

My sincere congratulations to a couple of our regulars on their civility and restraint.

This post sums it up. It is very difficult for someone from the southern states to relate to the cost of heating in New England. Oil costs have risen 300% in the last three years. No one individual, or landlord, can afford to absorb that cost. Many landlords are now renting places with seperate oil tanks or gas meters for each unit and making the tennant pay for their own heat. Flycessna was not being a greedy landlord and he did not want to raise his rent, though he is not running a charity or Government subsidized housing either. He has no choice, his expenses are real!

[mainebrokerman]

housing rents/leases are all over the board, in the lewiston/auburn area, i know folks paying 500 month and well over 2000/month, depends on what the rental is, where it is, and of course available tenants.

do landlords set the market rates or do tenants??????? i believe the tenants do.

l/a area ,,,has more rentals than most, however, because of taxes, and other increasing expenses, it makes it tough on the landlords (electricity, oil, trash removal, the rising costs of maintenance, and reserves for capital improvements are all very real challenges for landlords.

[flycessna]

I have rented Both places! It wasn't easy I fielded probably around 100 calls for the apartment where the old lady was, and I showed the apartment about 10 times. In the end there was probably only 5 people I was interested in. this was the most activity I have ever had....SO SO So many large families and single mom's with kids on section 8. It was hard to keep telling people that I wasn't interested in renting to a Large family or dealing with section 8. In the end I found a single women in her 30's who moved down from up-state for her job.

the other place rented in one day with a sign out front to a single guy in his 40's. location, location location!!

thank you for your words of encouragement...thought i'd let you all now I can sleep at night now

[dramamama6685]

Originally Posted by flycessna

I have rented Both places! It wasn't easy I fielded probably around 100 calls for the apartment where the old lady was, and I showed the apartment about 10 times. In the end there was probably only 5 people I was interested in. this was the most activity I have ever had....SO SO So many large families and single mom's with kids on section 8. It was hard to keep telling people that I wasn't interested in renting to a Large family or dealing with section 8. In the end I found a single women in her 30's who moved down from up-state for her job.

the other place rented in one day with a sign out front to a single guy in his 40's. location, location location!!

thank you for your words of encouragement...thought i'd let you all now I can sleep at night now

Congrats... at least you won't have those empty for the winter months!