Rentals not an issue? Why? (Christmas, Missouri, how much, insurance)

[Whyte Byrd]

I'm thinking out loud, I don't know so I'm asking.

I've heard two landlords I know personally brag about how much they're making above and beyond their costs as landlords and how much better they're doing than even their landlord buddies who are also doing quite well.

Last year alone our rent was raised $200--$150 of that right before Christmas--and he's planning to raise it again soon.

I wonder if anyone's checked into this b'c it seems that landlords are a huge part of the economy's problems. When they raise rents so high, they must be raising the cost of living all the way around. Why does no one ever address this? It's getting to the point--actually for some time now--where people can't afford a home--and I'm just talking rentals now. Why is no one screaming mad about this? It isn't an isolated problem.

[arctichomesteader]

Then go buy a house. And then see if it's so unreasonable what they're doing.

[Captain Worley]

So move. Or as arctic said, buy a house.

[Whyte Byrd]

Originally Posted by arctichomesteader

Then go buy a house. And then see if it's so unreasonable what they're doing.

LOL I just sold my house 4 years ago. This is exactly why I'm wondering why this isn't an issue. And I'm going by what my landlord friends say. I guess they feel safe to say it to me b'c we're friends, I doubt they'd admit it otherwise.

[TriMT7]

Originally Posted by Public_Newsense

LOL I just sold my house 4 years ago. This is exactly why I'm wondering why this isn't an issue. And I'm going by what my landlord friends say. I guess they feel safe to say it to me b'c we're friends, I doubt they'd admit it otherwise.

They're charging what they can get away with, to the maximum possible that the local market would sustain.

Anybody here would do the same thing.

[donsabi]

Don't worry, sooner or later landlords will be in the same situation as home owners. With people losing their jobs and the rate of inflation very few will be able to afford rent. There is lots of room under the bridges. In TN you will see many tents set up along the streams rivers and they're not campers.

Anybody with good judgment would charge a sustainable amount for rent. Overcharging will only result in tenant turnover and a loss of revenue.

NBC Nightly News announce that the rents in and around Boston are falling while many rentals remain vacant. Average rental there was $1600 a month and is now falling. Food for thought.

Don

[Lakewooder]

I am a landlord and I have tried to keep costs down, even though my property taxes and insurance costs have gone very high. I have not raised any tenants rent.

I did have to evict someone who was three months behind. I gave her too many chances and I'm afraid she took advantage of me -- when I got in there she had left a mess and had an unauthorized dog which tore up two sets of atrium doors which will probably have to be replaced at a cost of several thousand dollars.

But as soon as I put the sucker on craigslist I had many people wanting to look at the place - I actually lowered the rent from the previous price because of the condition.

However, I live in Dallas and we have thousands of people moving here. So I think I will be ok for now.

Don't judge all landlords harshly, please.

[Dopo]

Originally Posted by TriMT7

They're charging what they can get away with, to the maximum possible that the local market would sustain.
Anybody here would do the same thing.

Why is it that republicans always ignore the word "monopoly".

I lived in a small college town in Missouri and a real estate company controlled about 50-75% of apartments that were for rent.

They are pretty much competing against themselves, because if they raise the pirce 100%, there's not enough apartments for people to move into.
And I guarantee that the other landlords will raise their prices at the same time.

[truthseeker2012]

Originally Posted by arctichomesteader

Then go buy a house. And then see if it's so unreasonable what they're doing.

Right On, I agree with you on buying a house, and even better if you can pay cash for it. As long as you are a renter you will all way's be a Slave to the landlord. They are greedy S.O.B's

[arctichomesteader]

Originally Posted by truthseeker2012

Right On, I agree with you on buying a house, and even better if you can pay cash for it. As long as you are a renter you will all way's be a Slave to the landlord. They are greedy S.O.B's

Precisely. I bought land and will be building my own home (by myself). I won't be a slave to landlords. I truly hate renting. But, OTOH, if a person lacks the personal responsibility needed to own their home, then they should be thankful someone is renting to them and doing the work they are unable to. That of course comes at a cost. Like paying as much as a mortgage in rent but without buying the property and maybe getting kicked out in a few years if the landlord sells. If a person is renting they do so accepting that.