Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Renting
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-19-2016, 04:22 AM
 
10,746 posts, read 25,944,054 times
Reputation: 16026

Advertisements

Quote:
Originally Posted by Katie1 View Post
Not like the Mortgage Co going to raise your payment each year. Not like you putting money Back into the place or doing general upkeep. Gee every time LL come into this forum it my tenant wants this should I give it to him. Or hes 2 seconds behind in rent How quick can I put him out. 3 more long term tenants are planning to move ...cause the LL raising the rent again. Just because they got raises. These people are Not on Section 8


Rent goes up because the cost of doing a business as a landlord goes up. Why shouldn't the landlord raise the rent if the cost of the upkeep of the property goes up? Is the landlord supposed to take money out of his pocket and subsidize the tenant to make up the difference?


Again, you're choosing to rent....if you don't like it, buy your own home.
Reply With Quote Quick reply to this message

 
Old 04-19-2016, 08:43 AM
 
2,382 posts, read 5,383,892 times
Reputation: 3466
Quote:
Originally Posted by Katie1 View Post
Not like the Mortgage Co going to raise your payment each year. Not like you putting money Back into the place or doing general upkeep. Gee every time LL come into this forum it my tenant wants this should I give it to him. Or hes 2 seconds behind in rent How quick can I put him out. 3 more long term tenants are planning to move ...cause the LL raising the rent again. Just because they got raises. These people are Not on Section 8
I have fixed rate loans - but yes, depending on the type of loan a LL has - the mortgage can go up.


Taxes can go up too. If property values go up, taxes go up. Special assessments can pop up too.


The HOA has increased costs which they pass on to the owners. For example, the costs of water and electricity has gone up here quite a bit - which means the costs of running the pools and fitness center (which the tenant enjoys) go up significantly. The minimum income raise here in California to $15 is sure to mean that we begin to pay more for security, and more for landscapers.


It costs more to have things fixed than it did last year, or the year before.


I think part of the issue is that a lot of tenants have never owned and really have no idea of how expensive repairs are. My garage door suddenly "broke" - I'm pretty sure the tenant hit it with his car but couldn't prove it. New door, painting to match, delivery, installation - there goes $1K. Three story condo needs new water heater - requires permits to be pulled here, special order of water heater (has to have internal pump to get water to third floor), special earthquakes straps etc - $3K. I fix things that break immediately - which means I don't always have the luxury of getting multiple quotes or not paying holiday/weekend rates for tradesmen.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 11:05 AM
ptt
 
497 posts, read 634,835 times
Reputation: 692
Quote:
Originally Posted by Bakeneko View Post
I think part of the issue is that a lot of tenants have never owned and really have no idea of how expensive repairs are. My garage door suddenly "broke" - I'm pretty sure the tenant hit it with his car but couldn't prove it. New door, painting to match, delivery, installation - there goes $1K. Three story condo needs new water heater - requires permits to be pulled here, special order of water heater (has to have internal pump to get water to third floor), special earthquakes straps etc - $3K. I fix things that break immediately - which means I don't always have the luxury of getting multiple quotes or not paying holiday/weekend rates for tradesmen.
That's true. I just paid $5200 for the roof to be fix.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 11:49 AM
 
Location: West Virginia
13,916 posts, read 39,191,951 times
Reputation: 10254
Upkeep is the cost of Owning Anything. I removed ALL the plumbing & redid it in my place one year. The Fixtures were great Loved them but the old plumbing I couldn't stand you could see sloppy patches. Only cost me Parts I did it all myself Same place I hired an electrician took the old oil furnace out & put in Base board heaters Electric is something I Don't mess with. I have taken down Paneling & Added insulation. I have painted. Ripped out carpet replaced flooring. At one time or another there not nothing I haven't done. But in Apts they Slap them up Don't put Nothing in the walls! This place hasn't been painted in 7+ years, Been Patched in different shades of White paint. When they did the floors I asked if they paint the Living room dining room walls they refused! When the light in the ceiling fell in the Kitchen a month ago they put it back up & Patched the area so now it looks like hell! BTW the light fell cause they Centered it instead of making sure it was on the studs! You can tell it fell several times over the 20 years since the place been built! This thing is Huge hold several of those long light bulbs. God knows how long it going to last this time. I had water links under the sink couldn't wash dishes or run the dishwasher without it flooding. They finally fixed it last week. In the meantime the base of the sink now Rotten cant use it. I tried pans to catch the water it ran not Dripped down the pipes so all I could do is put news paper under the sink & change the soaked papers several times a day. Just to keep the floor dry! Yes they knew about ALL this! They had to Remove ALL the Pipes & put in New & Change the Facet. I kept telling them the Facet was linking. But they claimed loose connections was the problem... Yes they trying to blame us! Why pray tell would I destroy my home? Now I have to put up with one of those Trickle Water Saving Facets??
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 11:53 AM
ptt
 
497 posts, read 634,835 times
Reputation: 692
Quote:
Originally Posted by Katie1 View Post
Upkeep is the cost of Owning Anything. I removed ALL the plumbing & redid it in my place one year. The Fixtures were great Loved them but the old plumbing I couldn't stand you could see sloppy patches. Only cost me Parts I did it all myself Same place I hired an electrician took the old oil furnace out & put in Base board heaters Electric is something I Don't mess with. I have taken down Paneling & Added insulation. I have painted. Ripped out carpet replaced flooring. At one time or another there not nothing I haven't done. But in Apts they Slap them up Don't put Nothing in the walls! This place hasn't been painted in 7+ years, Been Patched in different shades of White paint. When they did the floors I asked if they paint the Living room dining room walls they refused! When the light in the ceiling fell in the Kitchen a month ago they put it back up & Patched the area so now it looks like hell! BTW the light fell cause they Centered it instead of making sure it was on the studs! You can tell it fell several times over the 20 years since the place been built! This thing is Huge hold several of those long light bulbs. God knows how long it going to last this time. I had water links under the sink couldn't wash dishes or run the dishwasher without it flooding. They finally fixed it last week. In the meantime the base of the sink now Rotten cant use it. I tried pans to catch the water it ran not Dripped down the pipes so all I could do is put news paper under the sink & change the soaked papers several times a day. Just to keep the floor dry! Yes they knew about ALL this! They had to Remove ALL the Pipes & put in New & Change the Facet. I kept telling them the Facet was linking. But they claimed loose connections was the problem... Yes they trying to blame us! Why pray tell would I destroy my home? Now I have to put up with one of those Trickle Water Saving Facets??
If you don't like it move. Buy your own place.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 12:00 PM
 
Location: West Virginia
13,916 posts, read 39,191,951 times
Reputation: 10254
Just like a Slumlord Move is the answer to every problem!
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 12:15 PM
 
Location: NE Mississippi
25,442 posts, read 17,128,344 times
Reputation: 37134
We are proud landlords.

Our properties are paid for.
Sometimes our tenants are late; sometimes they pay in advance. But they always pay, so we don't worry.
We have not had a new tenant in 5 years.
One property that we have owned for 30 years has probably not missed 6 months rent in all that time.

Thursday a tenant called me with a roof leak.
Friday I had it fixed.
Tomorrow I will have the ceiling fixed.

After our tenants paid the rent regularly for a year we gave them their deposit back.
Our area has not had a tax increase that was worth raising rent, so we don't.
Other landlords cannot compete with us because we don't have mortgages. That way we get the tenants we want.

Tenant #1 lives alone and is having her knee replaced. We have agreed to take her to therapy during week #2, that way her family will have a break.

We're 71. Soon, we will sell the properties and truly retire, maybe to the coast. We will try to carry the notes ourselves, thereby reducing taxes while maintaining income.

It's all doable.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 12:43 PM
 
18,532 posts, read 15,510,571 times
Reputation: 16214
Quote:
Originally Posted by Katie1 View Post
IF you as a LL expecting the tenant to make 3X rent then yes that IS 30% of the tenants income. Your Rent $1000 But your Not happy with a tenant that makes $2500 your looking for the tenant that makes $3,000 that = 1/3 or 30%
But the LL would also accept a higher income tenant. For instance if a tenant making $6,000/month were to rent the place, the LL would still charge only $1000, not $1800 or $2000 just because the tenant earned $6000.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 01:28 PM
 
2,382 posts, read 5,383,892 times
Reputation: 3466
Quote:
Originally Posted by Katie1 View Post
Just like a Slumlord Move is the answer to every problem!

I'm not a slumlord but I'm at a loss as to what you think the solution is other than moving..... if your situation is truly as awful as you think/say it is - how is moving not the solution? If someone posted things along the same lines in the relationship forum or employment forum, they would get the same advice to move along.
Reply With Quote Quick reply to this message
 
Old 04-19-2016, 02:56 PM
 
33,016 posts, read 27,388,296 times
Reputation: 9074
Quote:
Originally Posted by Kim in FL View Post
Rent goes up because the cost of doing a business as a landlord goes up. Why shouldn't the landlord raise the rent if the cost of the upkeep of the property goes up? Is the landlord supposed to take money out of his pocket and subsidize the tenant to make up the difference?


Again, you're choosing to rent....if you don't like it, buy your own home.

BZZT! Prop 13 cut property taxes 57 percent on average and many landlords raised rent while their costs went down.

BZZT!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Renting

All times are GMT -6. The time now is 06:04 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top