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Old 11-16-2018, 02:59 PM
 
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I would also think that some seniors either do not or cannot keep the apartment as clean as they should, do to decreasing mobility or other health issues. Especially if their budget doesn't extend to being able to hire someone to come in and clean on a weekly basis.
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Old 11-16-2018, 03:00 PM
 
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We wanted to rent for a year before buying in our retirement city but there were so many hoops to jump through that we went ahead and bought a house instead. However, because the house we bought was being used as a rental, we became landlords for the duration of their lease. You can have that job on a plate - never again will I be a LL. While we waited for their lease to end, we lucked upon a private owner of a small house and she rented to us on the spot. If I ever rent again, I will steer clear of large management companies. I can see why there are so many more homeless these days. They might be able to meet the monthly rent but all the app fees and deposits are not doable for many.
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Old 11-16-2018, 03:12 PM
 
Location: Planet Woof
3,139 posts, read 3,506,948 times
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Quote:
Originally Posted by orngkat View Post
We wanted to rent for a year before buying in our retirement city but there were so many hoops to jump through that we went ahead and bought a house instead. However, because the house we bought was being used as a rental, we became landlords for the duration of their lease. You can have that job on a plate - never again will I be a LL. While we waited for their lease to end, we lucked upon a private owner of a small house and she rented to us on the spot. If I ever rent again, I will steer clear of large management companies. I can see why there are so many more homeless these days. They might be able to meet the monthly rent but all the app fees and deposits are not doable for many.
That is how we rented a house for 6 years. I think that is the way to go. I may pursue that for next year.
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Old 11-16-2018, 03:17 PM
 
Location: Albuquerque NM
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My concern with steering clear of property management companies is that there are so many scams out there. Most rental postings are through Craigslist and there are stories of scammers renting out properties that they do not own. Maybe they get pictures off Zillow since these houses are on the market so much and perhaps an ex-renter? who has a key that allows them to show the property. Lots of recent out of state buyers so house is vacant for a couple of months after closing and a good time for the scam. Private owners may be out of state who have bought the property for an investment or eventual retirement home and want to rent it from a distance - hard to tell difference between them and a scammer. One thing I need to educate myself on before renting a house (not an apartement) is how to avoid these crooks.
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Old 11-16-2018, 03:18 PM
 
Location: Scottsdale, AZ
7,636 posts, read 4,693,202 times
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Originally Posted by BBCjunkie View Post
I would also think that some seniors either do not or cannot keep the apartment as clean as they should, do to decreasing mobility or other health issues. Especially if their budget doesn't extend to being able to hire someone to come in and clean on a weekly basis.
I’m sure that’s true in some cases. We had a cleaner come in once a month for my MIL after an initial deep clean. That was sufficient for 1 person living alone.
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Old 11-16-2018, 03:22 PM
 
Location: Location: Happy Place
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Originally Posted by Serious Conversation View Post
And many times, income restricted housing rents will be pushing the boundary of what is a "safe" rent for that income level.
I could easily afford the subsidized rent but I make about $500 too much than the income guidelines. But cannot afford market rate apartment.

My beef is that I would prefer to sell my home and live with people my own age in a senior apartment building. I will be alone in a 1900 sq ft house. Sad, really.

I could sell the house and use that money to pad my living expenses in a market rate senior housing set-up, but that money wouldn't last very long.

Catch 22 for sure.
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Old 11-16-2018, 03:32 PM
 
Location: Scottsdale, AZ
7,636 posts, read 4,693,202 times
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Originally Posted by ABQ2015 View Post
My concern with steering clear of property management companies is that there are so many scams out there. Most rental postings are through Craigslist and there are stories of scammers renting out properties that they do not own. Maybe they get pictures off Zillow since these houses are on the market so much and perhaps an ex-renter? who has a key that allows them to show the property. Lots of recent out of state buyers so house is vacant for a couple of months after closing and a good time for the scam. One thing I need to educate myself on before renting a house (not an apartement) is how to avoid these scammers.
I hang out on a LL’s board and one of the members told about her Craigslist experience

She’d found a suitable renter. The renter arrives at the property on move-in day but her key doesn’t work. In a panic she calls her LL , who says she will be right over. Then a woman comes to the front door and tells the renter to get off her property! A shouting match ensued, then the LL arrived.

The woman in the house said she had rented it on CL. Since the LL was out of town, she sent hom the money and he sent her the key. Except when she got there, the key didn’t work.

So she called a locksmith, who installed a new lock and gave her the keys!

The woman refused to believe she had been scammed until the police came.
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Old 11-16-2018, 03:37 PM
 
1,641 posts, read 563,626 times
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Quote:
Originally Posted by ABQ2015 View Post
My concern with steering clear of property management companies is that there are so many scams out there. Most rental postings are through Craigslist and there are stories of scammers renting out properties that they do not own. Maybe they get pictures off Zillow since these houses are on the market so much and perhaps an ex-renter? who has a key that allows them to show the property.

This is absolutely true. I had a friend who is a realtor (the reason I use "had" is because I made the mistake of using her as MY realtor ... lesson learned, do not mix business and friendship if one party's job is done on a commission basis) and she said that what you just described is fairly common. The scammers pull pictures and listings off the local MLS or Zillow, or just take their own.

The scammers even suck in realtors occasionally. They have a key, "show" the realtor the house and sign agency paperwork with phony identification, the realtor finds a tenant and gets paid a commission by the supposed property owner (scammer) as well as by the new tenant.... and then at some point the actual owner of the house shows up to find that someone has been living in the place and paying rent to someone else for months. Meanwhile the scammer is long gone, or at least doing the same thing in another community under another phony ID. Some towns have property records online and so it's not all that hard for scammers to create or obtain a phony drivers license or other ID.

There was a news story in my area last year about a retired locksmith who was working with a rental scammer. He'd change the lock on the front door, give the scammer the new keys, and then get a kickback from the scammer when the place was fraudulently rented.
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Old 11-16-2018, 04:36 PM
 
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LL/tenant issues cause this.

I own a duplex in another state. It HAS yo be managed by a property management company as we are out of state owners.

When we retire to a warmer climate, we will pick up a few rentals there.
We will also require 3 x s plus security deposit and no pets of any type, limited on who can rent...meaning number of people, especially unrelated.

Here, it can take up to 6 months to evict someone. Im Not taking a chance on not getting rent for that long. At least 3 of those months will be paid.

Steady income will be required to pay at least 3x the rent, i wont pass judgement on SS or SSDI recipients, but itd better be 3x the monthly rent.

Only if the properties sit absolutely empty for a year will i relax the terms.

Transient population in areas of warmer climes will have to adhere to these conditions, though.

I aint fooling around when it cones to being a serious LL, abd i will redo everything to excellent standards so should be easy maintain but i WILL be a good LL so that my tenants should be happy too.

I expect a LOT of my tenants, but they can expect a lot of me/us.

Its sad that once again the few ruin it for the many....

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Old 11-16-2018, 05:03 PM
 
Location: Tucson/Nogales
17,391 posts, read 21,228,976 times
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Originally Posted by shh1313 View Post
"They wanted 3 times the monthly rent up front plus a $600 security deposit! They wanted a year's worth of pay stubs. They would not take a Social Security statement, bank statements, or tax returns as income proof. Plus credit checks, of course."

What state was this? Simply WOW!
That's what I faced in Tucson when selling my home in Las Vegas in May, 3 times monthly income and my income, minus my Medicare premium was $1077 a month. I offered to send my recent financial statement with $25k in the bank, and their response: How do we know you're not going to go out and buy a car with that? One place wanted me to pay 6 months rent in advance. No way, Jose! And, I showed them my contract to sell my house, granting me $125k with the sale proceeds. So, in a panic, I told a RE agent to find me anything for a quick buy and I ended up, temporarily, in a nasty all-age community in south Tucson.

2 weeks after buying it I put it up for sale. Now living in a glorious 55+ mobile home community.

So these property managers want 2-3X income for the rent, putting too much weight on wage earners, and I suppose these half-brains never stop to think there might be another recession, with massive layoffs, leaving oodles of vacant apartments.
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