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Old 04-26-2017, 03:33 PM
 
882 posts, read 688,548 times
Reputation: 905

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Sometimes I just scratch my head on how people just can't make things work out with rent prices soaring in Salt Lake City.

My wife and I live in the SF Bay Area. 1 bedroom apts in our neck of the woods go for $3600 right now and many homes have shared roommates paying $1300-$1500 for a room. We purchased a 5 bedroom house in SLC as investment property in 2006. Despite our bad timing with the financial crisis hitting just 2 years later, it has been one of the best investments in our life. We have never actually missed out on rent as every time someone moves out, there's someone right there to rent the house out again. In any event, we just had some tenants get into a big fight and they just moved out (no notice whatsoever). They are on the hook for the rent until we get the place rented, but I already know that won't be long. Why? Because we apparently have to keep the rent exactly the same for them to be responsible. Problem is, the current comparables show that the place should go for at least $200-$250 more per month (rents have gone up substantially since they signed their lease). I know in my neck of the woods, people would go as far as putting up a partition in the house to maintain a good monthly rent price. I guess sometimes there are just irreconcilable differences. Admittedly I'm so glad that the economy is doing so much better and that SLC has turned into Silicon Valley West.
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Old 04-29-2017, 03:33 PM
 
Location: Metro Detroit
1,786 posts, read 2,667,209 times
Reputation: 3604
..SLC is east of Silicon Valley
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Old 04-29-2017, 05:00 PM
 
Location: Salt Lake City
28,091 posts, read 29,952,204 times
Reputation: 13123
Quote:
Originally Posted by geo-aggie View Post
..slc is east of silicon valley
LOL! (Too soon to rep again)
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Old 04-29-2017, 06:09 PM
 
Location: God's Gift to Mankind for flying anything
5,921 posts, read 13,853,608 times
Reputation: 5229
Quote:
Originally Posted by Geo-Aggie View Post
..SLC is east of Silicon Valley
Ahhhh depends of how you look at it ...

I remember a movie ... Krakatoa East of Java !

https://www.rottentomatoes.com/m/krakatoa_east_of_java/
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Old 05-01-2017, 10:18 AM
 
Location: Metro Detroit
1,786 posts, read 2,667,209 times
Reputation: 3604
Quote:
Originally Posted by irman View Post
Ahhhh depends of how you look at it ...

I remember a movie ... Krakatoa East of Java !

https://www.rottentomatoes.com/m/krakatoa_east_of_java/
Whatever dude. The Earth is flat. I read about it online. Something something aliens, vaccines, and Chemtrails. /s
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Old 05-01-2017, 12:37 PM
 
882 posts, read 688,548 times
Reputation: 905
Touche...my bad. I was reading a CNBC article and thought they had coined that term (but rather they were comparing to Silicon Valley in the West). Our house never even got listed on KSL. Ended up another tenant wanted it immediately after a conversation with our property manager. I knew it would be quick, but admittedly not that fast.
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Old 05-01-2017, 05:40 PM
 
Location: God's Gift to Mankind for flying anything
5,921 posts, read 13,853,608 times
Reputation: 5229
Quote:
Originally Posted by Geo-Aggie View Post
Whatever dude. The Earth is flat. I read about it online.
And here I thought it was concave ...
Anywhere I go, I have to go uphill !
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