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Old 10-13-2017, 10:52 PM
Status: "Re-edit status" (set 20 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,181 posts, read 1,903,923 times
Reputation: 3211

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Quote:
Originally Posted by HappyDogToday View Post
Guess I will stay in this rental forever!
No mortgage, no credit cards, no car loans, nothing.
Nothing like being "invisible" in society.
In the Seattle area, rentals are a better value compared to a purchase.

Our rental purchased in 2015 is positive at 6.0% ROI; But if purchased today at 50% more, we will still get the same rents.
Our recent purchase 09/2017, we are in negative territory. This is temporary since this will be our retirement home and mortgage will be reduced on sale or rental of our present home.
YMMV
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Old 10-13-2017, 11:51 PM
 
Location: San Francisco Bay Area
4,712 posts, read 2,549,517 times
Reputation: 9167
Quote:
Originally Posted by HappyDogToday View Post
I have been looking at local ads lately and I am seeing something I've never seen before: owners of houses and apartments stating that they do not rent to retired tenants on SS or pensions because they cannot garnish wages should they fail to pay rent.
They also mention not renting to self-employed or people working multiple part-time jobs. Only full time workers. One even wants employer references detailing job security. I think that is particularly ridiculous.
But regarding retirees, I would rather rent to someone who has guaranteed monthly income like SS or a pension rather than someone who could be fired or laid off. No guarantees there of payment as one can lose their job at any time.
Anyway, I feel this is age discrimination and I was shocked to see a prejudice against renting to someone who is retired on SS and/or a pension.
Have you seen this? What do you think?
Please provide a link, so that we can read the ad ourselves.

I can't imagine that could be true here.

I did live in Germany 25 or so years ago and landlords actually put stuff like "professional GERMAN couples only."

When asked, the rental representative looked at me (blonde, quite a lot of German heritage along with British and French) and heard me speak German and said to me, "Oh, they don't mean YOU. You're perfectly OK. No problem."

You can guess who they meant.
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Old 10-14-2017, 12:20 AM
 
Location: Silicon Valley
18,121 posts, read 22,978,628 times
Reputation: 35305
Quote:
Originally Posted by HappyDogToday View Post
There' a difference between "complaining" and sharing information with others to raise awareness.
Alternate facts?

This is like saying, "I'm not criticizing you, I'm just telling you something for your own good."

I think I was just possessed by Seth Myers...I can hear his voice.
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Old 10-14-2017, 05:14 AM
 
Location: Florida Baby!
5,205 posts, read 671,612 times
Reputation: 3129
Quote:
Originally Posted by mlulu23 View Post
everyone, business or not, should be moral. Goodness, and kindness should be everyone's guidelines. The only reason some are not is because money is their "god" which they serve, and worship. Being moral, and compassionate just gets in their way. And that is a major reason the world is in the mess it is. Pride, and greed.



Add to this EGO--Man is the only species with it. I believe this to be the "Original Sin" that is talked about in the bible.
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Old 10-14-2017, 05:27 AM
 
Location: Philadelphia/South Jersey area
2,879 posts, read 1,406,121 times
Reputation: 10108
Quote:
Originally Posted by mlulu23 View Post
Everyone, business or not, should be moral. Goodness, and kindness should be everyone's guidelines. The only reason some are not is because money is their "god" which they serve, and worship. Being moral, and compassionate just gets in their way. And that is a major reason the world is in the mess it is. Pride, and greed.
I wish it was that simple. Landlords are not some cruel robber Barons. I would love to house every homeless vet in Philadelphia but guess what, the state of Pennsylvania wants their property taxes. whether there is a paying customer or not.

There is absolutely nothing immoral about making sure your customer can pay the bills unless of course you've found a way to shop at Walmart and pay with platitudes?? because when I go the only options they give me is cash or card.

The average landlord in Philly is in reality a small business guy/gal. The big developers are not worried about seniors on SS, you know why because their product has a natural weeding mechanism..... price. They just put up a new apartment complex on Broad street here, starting price? 1,600 for a studio 1 bath
1 bedrooms start at 2,020.00

I see nothing greedy about making sure your livelihood is secure. Now I do think a landlord should take all assets into consideration
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Old 10-14-2017, 06:34 AM
 
3,348 posts, read 3,051,120 times
Reputation: 4880
Quote:
Originally Posted by Serious Conversation View Post
Those are liberal, tenant friendly markets. I live in Tennessee. This is a landlord friendly market. Around here, I wouldn't be surprised to see eviction proceedings start within a week of the rent being due.

You can fall behind on the mortgage for a month or two and you're not going to be removed from the home within that timeframe. Try that as a renter and you'll end up homeless in this area.
Should probably bone up on the laws.

It depends on the county in Tennessee. Most of the counties have a 14 day notice, but there are some that have a 30 day notice. Once that notice has been served and the appropriate time has passed, a date is set in general sessions court. Then once the court hearing has been held, the renter has 10 days to vacate. So you’re talking at least two months of nonpayment for most, and in some of the counties, at least three months.
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Old 10-14-2017, 08:30 AM
 
292 posts, read 185,075 times
Reputation: 309
You guys must be talking about poor retirees with SS and small pensions. There are married government local and national retirees with pension income well over $100,000, you think they have problems renting or buying? I think not. Think teachers, police officers,Postal employees,Career military, Administrators etc.and this doesn't even include SS because they have retired to young to collect it.
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Old 10-14-2017, 11:18 AM
 
4,484 posts, read 4,746,514 times
Reputation: 9941
I just went looking for these old threads....


getting a mortgage when retired


Applying for a mortgage in retirement
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Old 10-14-2017, 11:22 AM
 
Location: Upper Left Hand Corner
2,573 posts, read 962,288 times
Reputation: 4194
But What Does The Law Say About Age Discrimination?

Tenant Discrimination Laws:

Tenant Discrimination Laws | Lawfirms.com

What is Age Discrimination:

Age Discrimination : Project Sentinel

Six things to remember when renting to elderly tenants:

https://www.allpropertymanagement.co...derly-tenants/

------------------------------------------------

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Old 10-14-2017, 12:25 PM
 
26,591 posts, read 52,323,935 times
Reputation: 20438
Quote:
Originally Posted by HappyDogToday View Post
I mentioned those categories among others mentioned.
I am not citing this to get legal questions answered. I know the laws. Why has this forum become so literal-minded and quick to shut down every discussion?
It's a ''discussion forum'', not a wikipedia for legal and financial affairs.
I was sharing an observation that I had never seen before in my area of rural Ohio. That's all.
And yes, though it all may be ''legal'', it certainly will impact negatively on retirees if it becomes a regular renting practice across the area. They won't be able to rent a house or apartment.
Please know City-Data does not offer Legal Advice...

Only posters sharing opinions and experiences...

Those seeking Legal Advice should look elsewhere.
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