How do you JUSTIFY raising someone's rent by $300 a month in PHOENIX?? How??? (Maricopa: rentals, mortgage)

[FirebirdCamaro1220]

Originally Posted by john3232

At the end of this year I will pocket roughly 25 grand after all expenses have been paid including my own.

I will use the 25 grand...

I have a renter that is moving out at the end of Dec. I will spend roughly 7 grand to tile the interior and another 4 paint the interior/exterior. The property I live in needs the interior/exterior painted as well as new carpet. Another 6 grand. The flooring in the AZ room needs to be replaced. As does the door. The pool cleaning system needs to be replaced. I can't think about moving out and renting this home until all the work is done.


CDC Issues Eviction Moratorium expires at the end of this month.
https://www.azdisabilitylaw.org/cdc-...on-moratorium/

I have renters paying $1350 for a $1900-$2000 rental (moved in 2014) who can't afford the increase. Not even $250 more. In fact they could get upset and start demanding new this or that. Hell, they wanted me to paint the interior last year which I did. Renter rule 101: if you've got a great deal on the rent don't nag the landlord for cosmetic and/or minor repairs.

I will give them plenty of notice... but they've got to go. I need the extra 4-5 grand a year I will get from this property. I'm going to replace the carpet with tile, put in a new stove and dishwasher. New faucets.

On the first of each month I get a fat amount of rental income deposited into my bank account. However, it's the end of the month that counts. How much do I have left?

Not nearly as much as some might think.

Boo hoo, world's smallest violin playing a tune just for the landlords.

If you have to raise rent that much to make it work, sell it and find a different line of work. I've never seen an apartment complex jack rent by anywhere near 50%

[Sno0909]

Originally Posted by FirebirdCamaro1220

I'd rather rent than commute if it comes to that. Commuting wouldn't be horrible if I only worked 8 hrs per day, but I work 12 to 14 hrs per day. Which means I only get as little as 10 hrs per day to eat, sleep and take care of business at home. Even with my short commute now, I am only able to get 6 hrs of sleep a night most nights.

And that is your choice to make. But you can't complain about price increases for rent, and how you can't afford to own a home, when you choose to only live in one of the most desirable areas of the valley. If you're not willing to compromise, you will be a renter for the rest of your life (and those rents will likely keep increasing).

Or you could buy a place a little further out. Sacrifice a longer commute for about two years while you build equity in the home. Sell it for a profit, use those funds to purchase something else in an area that is more ideal for you and your commute.

Sometime a little sacrifice is necessary to reach a goal. You can't expect the government to help out with everything.

[asufan]

Originally Posted by FirebirdCamaro1220

Yep. I doubled my salary between 2015 and this year, but home prices went up 80% in that time frame, and rent increased around the same pace. So if you can't increase your pay 20% each year, you're getting poorer in real terms

You might want to check your math my dude

[john3232]

Originally Posted by FirebirdCamaro1220

Boo hoo, world's smallest violin playing a tune just for the landlords.

If you have to raise rent that much to make it work, sell it and find a different line of work. I've never seen an apartment complex jack rent by anywhere near 50%

It's the other way around. If I can't earn enough in rent to make it worth my while... then I sell.

But right now the going is good for landlords and I expect it to stay this way for some time.
https://azgovernor.gov/governor/news...ulation-growth

[FirebirdCamaro1220]

Originally Posted by asufan

You might want to check your math my dude

Home prices in Coronado went from a median of $270k in 2015 to $470k now. That's a 74% increase, close enough to 80%

[asufan]

Originally Posted by FirebirdCamaro1220

Home prices in Coronado went from a median of $270k in 2015 to $470k now. That's a 74% increase, close enough to 80%

And is 74% more or less than your 100% increase in salary in that timeframe?

[FirebirdCamaro1220]

Originally Posted by asufan

And is 74% more or less than your 100% increase in salary in that timeframe?

I don't see your point. Even using raw numbers, my income improved 25% compared to the home price increase. Meaning a home is still out of my reach, as my income would have had to improve 100% relative to the home price increase for me to have had a shot at buying.

[asufan]

Originally Posted by FirebirdCamaro1220

I don't see your point. Even using raw numbers, my income improved 25% compared to the home price increase. Meaning a home is still out of my reach, as my income would have had to improve 100% relative to the home price increase for me to have had a shot at buying.

Coronado isn't the only place in the world you can live. It is a historic district near downtown and is higher priced relative to most places and probably out of reach for a local delivery person. I'm playing the world's smallest violin for you now

[FirebirdCamaro1220]

Originally Posted by asufan

Coronado isn't the only place in the world you can live. It is a historic district near downtown and is higher priced relative to most places and probably out of reach for a local delivery person. I'm playing the world's smallest violin for you now

Local delivery person? I drive a semi tractor pulling a 40 ft tanker. Not any shmoe can do it. I make $65k per year and fiancee also works, earning $32k per year with a raise coming next month. I busted ass to get where I am now, to find bettering yourself getting you just treading water tells you why more people voted for Biden rather than tRump, and why more and more people are getting disillusioned with capitalism. Work hard and better yourself for almost nothing in return.....

[MissMouse111]

Originally Posted by atgss

"He/she must be a democrat/liberal."


I equate that to evil these days.

Absolutely not.

I am a CONSERVATIVE.

I am a REPUBLICAN.

I am asking for FAIRNESS and not EXPLOITATION. To EXPLOIT hard workings Americans is EVIL. That is my opinion.

So you are all for the MIDDLE MAN having nothing left over after he pays the OUTRAGEOUS rents here in Phoenix along with the utility bills.

He should go live in a SLUM if he wants to save a BUCK. The SAFE NEIGHBORHOODS are off limits for him or her for that matter.

If you honestly believe that raising the rent by $300 is fine then you are seriously OUT OF TOUCH with MIDDLE AMERICA!

You could care less as long as you're greedy hands get MORE AND MORE!! Got to get that POOL, $20,000 vacation, expensive sports car, right? That is EVIL!! That is GREED!

Nevermind the people who SUFFER, right?!! Not your problem.