Misconceptions about being a landlord

[oh come on!]

Originally Posted by AndreaTownsley

You just said you were under market the whole time. That’s all I’m speaking to. So you agree with me.

I agree with keeping rent slightly below market, but also maintaining rent increases on existing tenants.

I keep up with the market, and hike rent such that it is not worth the tenant's time/expense to move.
But I'm not giving tenants a huge bargain.

[AndreaTownsley]

Originally Posted by oh come on!

I agree with keeping rent slightly below market, but also maintaining rent increases on existing tenants.

I keep up with the market, and hike rent such that it is not worth the tenant's time/expense to move.
But I'm not giving tenants a huge bargain.

I have no issue with raising rents when it’s necessary. Some LL do it just bc they can. We never felt the need to. I agree with your comments above.

[Chris1969]

As a former renter let me chime in here. My wife has a family friend who's uncle is a LL. We rented from them for several years and never gave the rent a second thought, we just paid it and assumed that money was all gravy for them to spend. We recently started looking for a rental and immediately thought of him again so after some phone tag we got together and started talking about renting again. Our dogs were an issue for him but never had been before so we spoke at length regarding liability, insurance, and other LL issues that I had NEVER considered before. After an hour I realized just how much work, effort, and money he has to shell out to keep his rentals going not to mention repairs after bad renters up and bail after damaging the property.
I don't like high rents or deposits, but after hearing his horror stories I do understand why some LLs don't want pets and do require credit checks and background checks. It just sucks for me as a renter.

[oregonwoodsmoke]

Originally Posted by Chris1969

.....We rented from them for several years and never gave the rent a second thought, we just paid it and assumed that money was all gravy for them to spend.......

Lots of tenants believe this, that the rent they pay all goes into the landlord's pocket so the landlord can buy luxuries with it.. I always wonder why they don't get one of those free houses with no mortgage, no property taxes, no maintenance costs for themselves and then they can rent all those free houses out and be a greedy landlord, too.

[quiet life]

^^^^This! Preaching to the choir.