Crazy Rents (Boston, Peabody, Reading: insurance, condo, houses)

[Brightey3s]

Maybe I have just been luckily, but i've rented several different apartments throughout the state and have never had this happen to me. I clean and take all my stuff out, and the whole deposit was returned.

[BostonMike7]

Originally Posted by Brightey3s

Maybe I have just been luckily, but i've rented several different apartments throughout the state and have never had this happen to me. I clean and take all my stuff out, and the whole deposit was returned.

Generally for the most part this is common and what the typical transaction should be. Years back when i rented, i had no troubles. Later when i was a landlord, i had great tenants and easy transactions.

But there's always the horror stories and those are the ones you'll hear a lot of. I could tell you a horror story about one tenant that left me ~$10K in damages. Those stories stick with you, while the typical, normal boring transactions fade from memory.

[Brightey3s]

Originally Posted by BostonMike7

Generally for the most part this is common and what the typical transaction should be. Years back when i rented, i had no troubles. Later when i was a landlord, i had great tenants and easy transactions.

But there's always the horror stories and those are the ones you'll hear a lot of. I could tell you a horror story about one tenant that left me ~$10K in damages. Those stories stick with you, while the typical, normal boring transactions fade from memory.

Makes sense! The mundane stuff doesn’t really spark conversation, but 10k in damages sure sounds like a story.

[mdovell]

My old least had some interesting stipulations. You could either be an annual lease or month to month which is actually a little bit more expensive. However there's a stipulation in it that states if you break the lease you have to pay three months rent. But one way around then is if you go to month to month. I had a neighbor that literally didn't know that and she moved and left the apartment vacant for 3 months. Month to month with maybe $100 more so technically speaking she probably spent over $3,000 extra when she could have spent just $300.

[bostongymjunkie]

There aren't many places in Boston that will offer that option now. From what I understand it's even common practice to lock people who renting rooms from other renters in an apartment, into year-long leases. It's a complete landlord market now. They get what they want and all the cheesy rental agents, many of whom are talentless individuals who completed a 40 hour real estate course, get the extravagant "finders fees."

[WestieWhitie]

Originally Posted by bostongymjunkie

There aren't many places in Boston that will offer that option now. From what I understand it's even common practice to lock people who renting rooms from other renters in an apartment, into year-long leases. It's a complete landlord market now. They get what they want and all the cheesy rental agents, many of whom are talentless individuals who completed a 40 hour real estate course, get the extravagant "finders fees."

It's not finder's fee, realtor firms are getting paid for taking on the risk of getting sued for discrimination when someone feels like they didn't get the apartment because they identify as transgender guinea pig, not because they have a 400 credit score and three prior evictions in a state with extremely tenant-biased housing laws. Needless to say this should be paid by the landlord but we're dealing with extreme housing shortage thanks to our idiotic housing policies and there are 100 prospective tenants who are more than willing to pay the fee for every one who isn't.

[bostongymjunkie]

Originally Posted by WestieWhitie

It's not finder's fee, realtor firms are getting paid for taking on the risk of getting sued for discrimination when someone feels like they didn't get the apartment because they identify as transgender guinea pig, not because they have a 400 credit score and three prior evictions in a state with extremely tenant-biased housing laws. Needless to say this should be paid by the landlord but we're dealing with extreme housing shortage thanks to our idiotic housing policies and there are 100 prospective tenants who are more than willing to pay the fee for every one who isn't.

So you're saying these property owners are using agents as a shield against discrimination complaints? Any data on this? That would shift the liability to the agents, so are they getting complaints? I don't think the small fry (4 units and under) need to worry about this so much, since they are pretty much exempt.

[GeoffD]

Originally Posted by bostongymjunkie

So you're saying these property owners are using agents as a shield against discrimination complaints? Any data on this? That would shift the liability to the agents, so are they getting complaints? I don't think the small fry (4 units and under) need to worry about this so much, since they are pretty much exempt.

Owner occupied two family. Three units if one is rented to elderly or disabled and children would be a hardship. Through a realtor, those don’t apply. A realtor can be sued for any property they represent.

So in Massachusetts, “small fry” is owner-occupied two families or a three family with one unit rented to a geezer. There have been a couple of well-publicized lawsuits over the last decade. Realtors know how to avoid getting sued.

[skeddy]

Tough market for those with lower incomes. Roommates and second jobs are the answer nobody wants to be hear, especially in these super charged days of inflation.

[bostongymjunkie]

Originally Posted by skeddy

Tough market for those with lower incomes. Roommates and second jobs are the answer nobody wants to be hear, especially in these super charged days of inflation.

The other answer nobody wants to hear is move to a cheaper location. And while I don't like the artificially inflated rental markets that enrich those who would not otherwise be enriched if left to their own devices, sometimes moving is what it takes.