Got rental property?

[Maggot]

Im glad I decided not to. As BO put it, "Never underestimate Joe's ability to fuck things up." as though he himself didnt fuck up the insurance.

Progressive Congressional Dems Want To Impose Rent ...​

https://reason.com › ... › Affordable Housing


7 days ago — A letter authored by the two, and signed by 50 members of Congress, proposes seven actions of varying radicalism and legality that President Joe ...
Missing: rolls ‎| Must include: rolls

 

[Inifinty]

They are gonna take your schitz and call it "equitable".

All plebs will own nothing.

 

[Franko]

The government has been doing a bang up job destroying small landlords with the past 3 years of eviction moratoriums and other fuckery. Looks like the Democrats want to finish the job nationwide and ensure that only hedge funds control the rental market.

 

[Trophy Case]

We sold our rental at the absolute height of real estate madness 9 months ago and didn’t look back.
I had a couple of friends that took a beating during the plandemic when they could not evict or collect rental payments. Renters were simply taking advantage of the situation and giving the landlord a big middle finger!! Crazy!
Here we are again….this time with proposed govt pricing caps on the rental market.

 

[Maggot]

We sold our rental at the absolute height of real estate madness 9 months ago and didn’t look back.
I had a couple of friends that took a beating during the plandemic when they could not evict or collect rental payments. Renters were simply taking advantage of the situation and giving the landlord a big middle finger!! Crazy!
Here we are again….this time with proposed govt pricing caps on the rental market.

Happening right down the steer from me. A nice house came on the market and I was interested. Turns out the renter hasnt paid rent for months, and wont allow the landlord to show it, breaks every appointment.

If that were my property I'd end up in jail.

 

[Hecouldgoalltheway]

 

[BullGear]

I doubt this will have legs in Congress. Far too much money being taxed to lose it now. Remember, the deductions for owning rentals has almost gone away, so any increase in rent gets taxed. Taxes make the world go round.

 

[Pritch]

4wd ftw!!! stuff the grid the megalomaniacs of the world with their red stamps wrecked it for most of us

then u go and find an abandoned factory and set up shop and go proper Armageddon style living

 

[OkieMike]

No, I don't own rental property... And I won't. I decided it wasn't worth it with all the laws protecting shit-stain tenants.

"Great Leap Forward" bullshit is all it is.

I personally hope Mao and Lenin are having to take turns ass-raping each other in hell.

Mike

 

[Carlos Danger]

I bought the house next for as an investment, and to make sure shitbags didn't buy it. I lucked out during the scandemic with stand up tenants who paid the rent. I did have an issue with a nickel bag whore who ended up staying rent free for about 4 months. Learned how little control I actually have.

 

[BurtG]

All about pushing people to gov / quasi gov owned housing. And section 8


Must rely on .gov for EVERYTHING

 

[Franko]

All about pushing people to gov / quasi gov owned housing. And section 8


Must rely on .gov for EVERYTHING

I'm not sure on what it is at this point; I think it's probably a combination of :

1. Progressives are so convinced of their own genius that they are sure their version of rent control will succeed when every other attempt since the beginning of time has failed
2. Democrats realize that our corrupt courts don't seem to have a problem with them robbing landlords by denying them the right to evict and collect rent and think that they now have the tools to create a completely dependent underclass that have to vote Democrat to keep a roof over their heads
3. Big business is very quietly encouraging this kind of stupidity because it will put all the small mom and pop landlords out of business

All I know is that it's never been easy to be a landlord but it's going to get even harder...

 

[Doctorwho1138]

As someone who has rental properties, I can say my short term rental has done great since 2020. Whereas the long term renters, I got screwed pretty badly. Didn’t pay and courts were backed up and took forever to get them evicted. Total clown show. To top it all off, one renter destroyed the property after I just dumped 40k into it. She destroyed all the appliances and ruined all the flooring that I just replaced. Didn’t even pay the power or water company….we got those notices too. She basically stayed there for 9 months rent free and trashed the place. She is a RN to boot. She now works at the CDC. Got a lawyer involved to sue her and have her wages garnished but this also seems to be a hassle.

 

[D̷e̷v̷i̷l̷D̷o̷c̷A̷Z̷]

Laughs in poor

 

[Romeo458]

I was looking at buying a 4 plex near here. Thanks for the reminder of 2020 and why I shouldn't.

Soon enough the gov will crash tjatbsector and of course have no choice but to nationalize it also.

 

[Pester]

Of the 7 residential rentals I have, the 4 oldest have an average rental duration of 6 years. I have had these 4 rentals an average of 21 years and have never had any payment issues nor large maintenance costs. We do a lot of work to understand the tenants before they are leased.

The remaining 3 were picked up over the last 3 years. Two of those have the original tenants and one has had the first tenant stay the one year they committed to.

Have never had a failure to pay.

I still think residential rentals are a good option.

 

[Clob McStrunk]

Is it time yet?

 

[BurtG]

Of the 7 residential rentals I have, the 4 oldest have an average rental duration of 6 years. I have had these 4 rentals an average of 21 years and have never had any payment issues nor large maintenance costs. We do a lot of work to understand the tenants before they are leased.

The remaining 3 were picked up over the last 3 years. Two of those have the original tenants and one has had the first tenant stay the one year they committed to.

Have never had a failure to pay.

I still think residential rentals are a good option.

How long has it taken to find these golden tenants ?

Where do you advertise

 

[BurtG]

Is it time yet?

Been past due for what 100-150 years now

 

[Pester]

How long has it taken to find these golden tenants ?

Where do you advertise

The 4 units take an average of 6 weeks to fill once they are vacant. One week before they are officially vacated they are advertised in local papers and on "for rent" websites. Once vacated, we take about 10 days for cleaning, updating etc before we show them. When we do new carpet/paint/appliances its obviously longer. We go through a lot of people that apply to find the ones that seem like good long term tenants.

It generally takes one months rental income, as an expense, to get a unit rented. If the rentals cycle new tenants every year the direct costs can really eat into annual revenue. We try to not raise rents once person is in place so, I suspect, that once someone is in a rental they recognize that they rates they are paying are below market. Hence the longer occupancy duration.

We also try to have residential properties in areas where there people tend to stay due to their jobs. And, additionally, we try to be good partners. We respond to calls made to us by tenants quickly and have working relationships with plumbers, electricians, maintenance folks so when there is a problem we get it resolved quickly.

Some people seem to think the residential rental market does not work and maybe it doesnt for them or they have had some negative experiences. Not saying that does not happen. My experience is that rentals bought at the right price in the right areas can still be worthwhile.

 

[benchmstr]

I have 10 residential rental properties and 14 business rental properties..not worried at all about this fear mongering bullshit that y’all constantly get caught up in