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Old 12-15-2016, 12:13 PM
 
7,654 posts, read 5,083,804 times
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Quote:
Originally Posted by Ultrarunner View Post
How can anyone serious propose controlling rents without controlling expenses?

Taxes go up 2% every year plus the voters add all kinds of special assessments that get tacked on.

Waste Management provides less service but rate go up every year and city water/sewer have had huge spikes...

Cost of maintenance keeps going up... just had new roof on a duplex that was 22k and the cost was high as city no longer allows shake.

Wages in my city are phased to hit $15 with mandatory sick leave...

Yet... Housing Providers are limited to a 1 to 2% annual increase?
So who is pocketing these increases if wages are not going up? That seems to be the question of the day.
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Old 12-15-2016, 12:22 PM
 
28,107 posts, read 63,490,785 times
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All depends... for some it will take years to hit break even... for others it is just trying not to lose ground as cost of being a Housing Provider increases.

Some that have owned for a very long time and with little or no debt service would be my best guess as to who is able to retain larger portions of a rent increase.

I get calls all the time from former tenants asking if I have anything available.

Many left on excellent terms and moved to the suburbs looking for better schools and newer housing stock... it has been a mixed bag as schools can have problems everywhere and they often find rents more volatile or the property changes hands.

A lot of income property is financed with adjustable rate money and with rising interest rates it will trickle down to increased rents if the market will bear it...

Why do two gas stations on opposite corners have different prices for a gallon of gas?
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