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Old 06-11-2013, 11:45 AM
 
28,115 posts, read 63,666,290 times
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A more accurate title might read, "Landlords let 10,000 units stay vacant"

San Francisco housing issues have caused many to look elsewhere and areas served by BART have seen increased demand because of easy SF access.

I know of a couple of units that have been vacant for years... the older or very old owners that also happen to live on the property had bad to very bad experiences as Landlords and said no amount of money would entice them to be a SF Landlord.

Never having owned or lived in SF... I don't have personal experiences.

On the other hand... I have picked up some very well qualified tenants that fled SF...

The most recent was paying $1600 for a one bedroom which was OK before they had two children... they now live in Oakland and pay $1500 for a 3 bedroom single family home with yard...

With all things... it all about finding the right balance...
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Old 06-11-2013, 01:18 PM
 
28,115 posts, read 63,666,290 times
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I have a friend that lives in a great waterfront SF location...

He has an old boat and is a live aboard and wouldn't change.

Monthly expense is very modest... about a third of a decent 1 bedroom on land.

Last edited by Sam I Am; 06-11-2013 at 04:07 PM.. Reason: orphaned
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Old 06-11-2013, 04:34 PM
 
Location: San Francisco
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I have to question the business acumen of someone who would rather collect $0 than $2500 in rent on a dilapidated 1BR apartment with no parking and no dishwasher.
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Old 06-11-2013, 04:46 PM
 
28,115 posts, read 63,666,290 times
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Quote:
Originally Posted by pch1013 View Post
I have to question the business acumen of someone who would rather collect $0 than $2500 in rent on a dilapidated 1BR apartment with no parking and no dishwasher.
Probably because these owners are not business people and the trade off of privacy and multitude of potential problems has soured them on being a one or two unit landlord.

I recommended a single Nurse to one such couple... they were very skeptical having been burned before...

At my suggestion... they agreed. It's been a couple of years and the rent is charged is $800 a month and both are extremely happy.

Hard to believe... it is not always about the money... especially when the downside potential is very real.
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Old 06-23-2014, 05:21 PM
 
3,098 posts, read 3,784,958 times
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Quote:
Originally Posted by pch1013 View Post
I have to question the business acumen of someone who would rather collect $0 than $2500 in rent on a dilapidated 1BR apartment with no parking and no dishwasher.
Depending on when you bought the property if you low property taxes thanks to prop 13 and property values increasing in San Francisco at incredible rates just sitting on a property until you are ready to sell and retire to Maui or boca raton is not unreasonable. You could be paying $2000 a year in property taxes on a small multi unit property that is increasing in value~ $100,000 per year.
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