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Old 07-19-2011, 05:34 PM
 
5 posts, read 17,164 times
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We are from VT but have been moving around for 3 years and may be coming back to VT soon. Some things I have been noticing besides the fact that rental prices are crazier than they were 3 years ago are...

Everything with a reasonable price is one or two bedrooms, even in the expensive stuff there are few three bedroom homes to rent. There seem to be very few actual houses to rent, lots of apartments and duplexes.

No one seems to rent to those with pets anymore. Has anyone heard of a pet deposit? Oh wait no, no one would be able to afford it on top of the first, last and security everyone seems to want. The ones that do rent to pet owners seem to only allow cats or small dogs. What about those with a mix of dog sizes? My large greyhounds are more well behaved than a lot of people's (including my own) small breed dogs. Where are the pet friendly rentals? There must be some somewhere, Vermonters tend to love their animals.

Anyone else frustrated by this? I am really starting to worry we won't be able to find anything to rent and we are in no shape to buy if we head back up that way.
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Old 07-19-2011, 06:41 PM
 
Location: Winter Springs, FL
1,792 posts, read 4,396,727 times
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I own a rental property and I do rent to people with pets, but after being burned bad, I require a large pet deposit. The damage done was not even close to deposit amount. I don't want to come across as harsh, but everyone who has a pet claims their animal is great. What I have learned the hard way is that I have no idea how anyones animal will act in my property.
In my case and from what I can tell, rents continue to increase primarily due to increasing property taxes. In the last decade I have had to increase my rent several times because of this. The mortgage remains the same, but when taxes increase, the cost needs to be past on or the landloard starts to take a loss. Many places not only require a pet deposit, but many also have a monthly pet charge.
Most people love pets in the state. The majority of people I know own pets, but many own their own homes as well. Like I stated, landloards have no idea how a pet will behave. You can't always take someones word for it. Often times it's easier to not even rent to people with pets because then you aviod one potential issue.
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Old 07-19-2011, 06:52 PM
 
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Property tax is definitely one reason. I have a small home and pay almost $250/month in taxes. You also have to consider that landlords get burned all the time. People destroy things, skip out on the last month's rent and leave tons of stuff to be hauled away. As far as pets, they never IMPROVE a home. Inside and outside damage is inevitable even with the best behaved pets. The real question is why do people get more than one when they are renting? Most landlords will accept one pet, after that it's really hard to find one who will accept more. As for me, I am done renting after my latest tenant decided to stop paying rent.
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Old 07-20-2011, 04:41 AM
 
Location: Manassas, VA
1,559 posts, read 3,571,640 times
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Quote:
Originally Posted by StuartGotts View Post
The real question is why do people get more than one when they are renting? Most landlords will accept one pet, after that it's really hard to find one who will accept more. As for me, I am done renting after my latest tenant decided to stop paying rent.
I don't think it's a matter of people 'getting' more than one when they are renting....at least not all the time. You could have folks who have started to transition either to the area or out, or sold their propery for whatever reason and need to rent right now; and already had the pets in the first place.
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Old 07-20-2011, 06:54 AM
 
Location: in a cabin overlooking the mountains
3,078 posts, read 4,116,853 times
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I don't want to repeat myself so I'll post the link for a post that I made recently in reply to a similar question:

//www.city-data.com/forum/19697579-post2.html

I had a single family home that I was forced to rent out for economic reasons starting about ten years ago. These days I cannot afford to rent it anymore - it costs too much money!

Really it is the property taxes, also sewer and water (our just went up over 50 % ths year). Then you have things going on like the fire marshall going through and making you tear out all of the decorative woodwork on the porches to replace them with "guards" that are 6" higher. Also the fire marshalls recommended in 2009 that landlords use both photoelectric and ionization type smoke detectors to catch different types of fires. Six months later the VT legislature in their infinite stupidity decided to ban the ionization type so there is another several hundred dollars out the window. Oh and the insurance companies have been sending out inspectors to check on insured properties. I had one report come back from an inspection done in January when the snow was knee-deep - the guy saw a barbecue grill next to the building covered in snow. I got a warning for letting tenants grill next to the building. More recently I got one about tenants owning dogs. They wanted to know what breed the dog is and whether the tenants have renters insurance.

I've given up trying to be a decent LL. Between the state, the town, the insurance companies and the occasional bum tenant enough is enough. The house is for sale and it wouldn't surprise me if some real estate agent comes along and does what they've done to so many properties. Take a single famnily home and modify it so that it will turn into 2-3 teeny apartments. Getting market value for rent on a single family home barely covers expenses. You can't charge more because any tenant who could afford a reasonable rent for a single family home could easily afford to buy their own house. If you bust up a single family and turn it into a 3-unit slum it is much more profitable.

And as for pets I've always allowed pets but I'd say that cats are the worst. Clawed up banisters, cat pee in the carpet - UGH. Most tenants are inconsiderate and ruin it for the few who actually take responsibility for their animals. I can understand why landlords would refuse to allow pets.
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Old 07-20-2011, 08:00 AM
 
Location: Manassas, VA
1,559 posts, read 3,571,640 times
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I know a landlord in Vermont who I went to for advice when we were thinking of buying a property and renting it out. He said that in the best case scenario - you make enough to pay your mortgage - and that's the best case. You don't become a landlord to make money, you become a landlord to gain equity in the house for down the road.
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Old 07-20-2011, 12:45 PM
 
1,000 posts, read 1,127,910 times
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I was talking to someone from Rhode Island today about being a landlord. One way to make money there is to buy distressed three family homes, fix them up to barely habitable conditions and then rent then to section 8 tenants. So basically, to make money you almost have to be a slum-lord. There aren't too many locations in Vermont where you can do that...thank God.
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Old 07-20-2011, 01:03 PM
 
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You can't charge more because any tenant who could afford a reasonable rent for a single family home could easily afford to buy their own house
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Old 07-20-2011, 01:29 PM
 
Location: in a cabin overlooking the mountains
3,078 posts, read 4,116,853 times
Reputation: 2266
Quote:
Originally Posted by StuartGotts View Post
I was talking to someone from Rhode Island today about being a landlord. One way to make money there is to buy distressed three family homes, fix them up to barely habitable conditions and then rent then to section 8 tenants. So basically, to make money you almost have to be a slum-lord. There aren't too many locations in Vermont where you can do that...thank God.
You're joking right? There is nothing BUT that kind of rental property in my neck of the woods and at the rate things are going in this state there won't anything left soon except rental slums. The only tenants who can afford to pay rent out of pocket as opposed to being on the dole are the ones getting their income from drug deals.
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Old 07-20-2011, 01:56 PM
 
1,000 posts, read 1,127,910 times
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I guess I was thinking of places like North Providence and Olneyville, it is city blocks full of vinyl sided 3 deckers with no yards, similar to New Bedford and Dorchester. I haven't seen much like that in VT except there's a brick front apartment building in down town Windsor that looks just like South Huntington Ave in JP.
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