crazy rents
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crazy rents (by bet [MA]) Jun 18, 2019 11:57 AM
       crazy rents (by Richard [MI]) Jun 18, 2019 12:21 PM
       crazy rents (by S i d [MO]) Jun 18, 2019 12:25 PM
       crazy rents (by Steve [MA]) Jun 18, 2019 1:43 PM
       crazy rents (by Sisco [MO]) Jun 18, 2019 1:45 PM
       crazy rents (by Johnny B. [MA]) Jun 18, 2019 3:16 PM
       crazy rents (by myob [GA]) Jun 18, 2019 3:32 PM
       crazy rents (by WMH [NC]) Jun 18, 2019 4:03 PM
       crazy rents (by S i d [MO]) Jun 18, 2019 4:14 PM
       crazy rents (by myob [GA]) Jun 18, 2019 4:49 PM
       crazy rents (by Sisco [MO]) Jun 18, 2019 6:23 PM
       crazy rents (by Sorta Blonde [CA]) Jun 18, 2019 7:58 PM
       crazy rents (by Johnny B. [MA]) Jun 18, 2019 9:03 PM
       crazy rents (by RentsDue [MA]) Jun 19, 2019 8:11 AM
       crazy rents (by RentsDue [MA]) Jun 19, 2019 8:12 AM
       crazy rents (by bet [MA]) Jun 19, 2019 8:55 AM
       crazy rents (by myob [GA]) Jun 19, 2019 11:28 AM
       crazy rents (by Lynn [MA]) Jun 19, 2019 12:16 PM
       crazy rents (by Robert J [CA]) Jun 19, 2019 12:38 PM
       crazy rents (by Blue [IL]) Jul 1, 2019 4:47 PM
       crazy rents (by Rob [MA]) Jul 2, 2019 10:11 AM
       crazy rents (by Rob [MA]) Jul 2, 2019 10:18 AM
       crazy rents (by Steve [MA]) Jul 2, 2019 10:31 AM
       crazy rents (by Jim In O C [CA]) Jul 2, 2019 12:47 PM
       crazy rents (by Rob [MA]) Jul 2, 2019 10:56 PM
       crazy rents (by Drew [CO]) Jul 2, 2019 11:09 PM
       crazy rents (by Judi [CA]) Jul 2, 2019 11:18 PM
       crazy rents (by Steve [MA]) Jul 3, 2019 6:36 AM
       crazy rents (by Rob [MA]) Jul 3, 2019 9:44 AM

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crazy rents (by bet [MA]) Posted on: Jun 18, 2019 11:57 AM
Message:

People are desperately looking for apts. Its like a feeding frenzy here, but as usual the disqualifieds are not getting in. I am seeing posts on FB, people are begging to find one bedroom apts for under $1000. Last yr a typical one bedroom was $800 and I have a few listed for $900 now. I think we are witnessing a gentrification in the area since the non qualified are not getting in anywhere.

Maybe finally all the local landlord are using the online eviction database to conduct back ground checks. Boston rents are crazy so I think we are finally seeing the trickle down effect. Even as a long time landlord I cant believe the rents and yes there are rent increases and cleaning house now. What are you seeing in your area for rent increases? --73.227.xxx.xxx




crazy rents (by Richard [MI]) Posted on: Jun 18, 2019 12:21 PM
Message:

In my area, rents have been going up steadily and wages have not UNLESS you actually have some skill at whatever you are doing.

The businesses that hire skilled people are begging for good people. Trouble is, with the passing of relaxed drug laws and recreational marijuana laws, and the meth and opiate epidemic there are very few people who can pass a drug test. So they don't get hired. Then they want disability for stress and anxiety.

What landlord wants to rent to someone on drugs who may file a lawsuit on them for stress, anxiety or discrimination because of drugs? I sure will not. Those that look the other way and tolerate this wind up with their homes trasheed, no rent paid and having to evict and repairs in the thousands. These people steal and sell all the stoves and refrigerators and more. They typically say "it broke and I got rid of it. When will you get me a new one?" Thieves! Now I rent places with no stove or refrigerator. They can get one on Craigslist or used. I

People with skills have no trouble paying rent. The rest seem to think we owe them and shine that we should provide real cheap but nice housing for prices they paid 50 years ago.I just saw one today wanted a nice 3 bedroom, 2 bath place with garage and fenced yard for $300 a month. Ha! --71.10.xx.xxx




crazy rents (by S i d [MO]) Posted on: Jun 18, 2019 12:25 PM
Message:

Not as high as yours, but basically the same story. My rents that were $500 18 months ago are now $600. I see places a step up from mine that rented for $800 now renting for $950. No one is building smaller "affordable" housing because costs have gone up and there's little to no money in that game. Renovations of older housing stock can't keep up with demand.

Basically, if you want cheap rent now, you have to settle for an apartment or a dump. Or find roommates. --173.20.xxx.xxx




crazy rents (by Steve [MA]) Posted on: Jun 18, 2019 1:43 PM
Message:

Bet, I just raised the rent $266.00 on one of the few S8 tenants that I still have. The PHA approved it in just a few days. I guess I should have gone even higher. SFDs in my town even at $4,500.00+ utilities are being snapped in days if not hours. --96.237.xx.xx




crazy rents (by Sisco [MO]) Posted on: Jun 18, 2019 1:45 PM
Message:

Demand is a bit less intense than 12 months ago, but still robust.

I believe that most landlords in my market now use online court records and other screening methods, mostly by way of property management providers. This in turn has the dregs of the tenant pool scrambling.

Dregs reveal themselves with Much reluctance to follow the link to apply online, and much effort expended to voice call before applying. They have been rejected elsewhere and understand it is futile to apply.....it is. Brings into focus how many landlords were being drained by these parasites. --72.172.xxx.xx




crazy rents (by Johnny B. [MA]) Posted on: Jun 18, 2019 3:16 PM
Message:

I posted a small two bedroom with nothing included for $1250 and literally received hundreds of responses in a week. I took the ad down. Most of the responses were from undesirables. Will repost in a few days for a little more money and see what happens. Has anyone had luck doing this? --107.77.xxx.xxx




crazy rents (by myob [GA]) Posted on: Jun 18, 2019 3:32 PM
Message:

I've said this here for years. WHY would anyone want a tenant-- "guaranteed" for more than 12 months? Like fish and relatives they start to stick in 12 months.

We thought we had top dollar 2 years ago and thought -- maybe we should do 2 or 3 years? thank gosh we didn't we would have missed out on 3 hugh rent increases X's 60 SFH's.

Here around ATL-- there isn't anything SFH wise to rent. SOOOOO rents are again going up. --99.103.xxx.xxx




crazy rents (by WMH [NC]) Posted on: Jun 18, 2019 4:03 PM
Message:

I get $1200-$1225 nowadays for our small spaces. BUT it takes me hundreds of inquiries to filter out the chaff. --50.82.xxx.xx




crazy rents (by S i d [MO]) Posted on: Jun 18, 2019 4:14 PM
Message:

myob,

I certainly see your point on this. Some LL's fear vacancy, and they should to a point, but there's nothing to fear about a standard turn over if you have a good property and demand is solid.

I don't mind doing turns every 2 years because that keeps it from getting irritating and also helps keep deferred maintenance down. Many land lords write off minor damage as "normal wear and tear" and/or the tenant's deposit isn't enough to cover the little repairs and "freshening up" tasks after they've been there several years. But if you're turning every 18-24 months, that's a good time to touch up that paint and replace those busted blinds using that market rate deposit.

I REALLY like ETF turns! Had one last month that we turned in about a week, after collecting an ETF and another $300 animal fee. If the old tenant had stayed, no ETF, no animal fee. :-(

Making a profit on a turn is fun! --173.20.xxx.xxx




crazy rents (by myob [GA]) Posted on: Jun 18, 2019 4:49 PM
Message:

Sid a man of few words-- but have meaning. If you have fear in this business-- you'll be out of business--- they (tenants) can smell it!!!!

Thanks Sid but many don't feel that way here. --99.103.xxx.xxx




crazy rents (by Sisco [MO]) Posted on: Jun 18, 2019 6:23 PM
Message:

MYOB, I have identified 3 stages of behavior of Mr LL forum posters whenever they are challenged to take a different view.

1.) Ridicule the presenter breaks with groupthink.

2.) Vehemently oppose the presenter.

3.) Declare the formerly controversial topic to be self- evident, that it has long been known by them as fact. --72.172.xxx.xx




crazy rents (by Sorta Blonde [CA]) Posted on: Jun 18, 2019 7:58 PM
Message:

When I see what places are renting for in other states, I'm amazed. My little 800 sq ft rentals, single family housing with yard and private parking off street, are renting for $1650. a month. That was last year. This year, the comps are at $1850-$1950. for the same thing. Hardly any 2 bedroom single houses in my area. One bedrooms are going for $1500. and 3 bedrooms for $2200 and up. San Diego is not the place to live if you have limited funds for housing, but it's got great weather and is an awesome place to live if you can afford it. I grew up here, so it's not a shock to me, but I can imagine coming from another state could be really scary. Prices for buying a 2 bedroom house in my neighborhood have gone from $200k in the 80's to over $500k now. Gotta have a hefty paycheck just to live even in the suburbs. Not for the faint of heart. --68.8.xx.xxx




crazy rents (by Johnny B. [MA]) Posted on: Jun 18, 2019 9:03 PM
Message:

San Diego is definitely not for the faint of heart... mostly because of the human excrement in the streets though, not because of the housing cost. --24.147.xx.xxx




crazy rents (by RentsDue [MA]) Posted on: Jun 19, 2019 8:11 AM
Message:

Sisco, I couldn't agree more.

Myob, Your wisdom is not lost on me. I just terminated a 5 year tenant. They started to stink. The biggest advantage I had to spending most of my childhood with the Sisters of Mercy is that you don't fear much after they get through with you. Every vacancy is an opportunity to do better.

So far nobody has mentioned the government angle to the rents going up. We have an unprecedented number of illegals being absorbed into our country. That is putting a microscope on our own homeless . There are government officials pandering for both ,and not because they actually care about either one. I certainly am not interested in debating ( or fighting) about those problems. The point is that , in MA anyway, the solution is to throw money at the problem. LLs charge more and the state will pay more. Market rate keeps going up and everyone pays more. --71.10.xxx.xxx




crazy rents (by RentsDue [MA]) Posted on: Jun 19, 2019 8:12 AM
Message:

Sisco, I couldn't agree more.

Myob, Your wisdom is not lost on me. I just terminated a 5 year tenant. They started to stink. The biggest advantage I had to spending most of my childhood with the Sisters of Mercy is that you don't fear much after they get through with you. Every vacancy is an opportunity to do better.

So far nobody has mentioned the government angle to the rents going up. We have an unprecedented number of illegals being absorbed into our country. That is putting a microscope on our own homeless . There are government officials pandering for both ,and not because they actually care about either one. I certainly am not interested in debating ( or fighting) about those problems. The point is that , in MA anyway, the solution is to throw money at the problem. LLs charge more and the state will pay more. Market rate keeps going up and everyone pays more. --71.10.xxx.xxx




crazy rents (by bet [MA]) Posted on: Jun 19, 2019 8:55 AM
Message:

Sid, we are totally inline with you. Some of my tenancies turn in 12 months. If there is any damage Security deposit is used to fix, repair, upgrade and the unit stays clean, freshly painted, new blinds, etc paid by the departing tenant who did most of the short term damage. We are full time landlords 6 months of the year so this is our job, oh and the rents are increased.

Most of the time our tenancies are terminated due to non rent related issues. If I witness too much wear and tear on an apt early on, they are given notice. Johnny B, the good tenant cant afford much more than market rent, so even though you are getting swamped with calls, none of those dis qualified could have afforded your apt anyway so no point taking the ad down. The dis qualifies are like walking zombies, knocking on every door seeing who will let them in. And most wont apply, like someone says, they want to talk to you, tell you their special story. --73.227.xxx.xxx




crazy rents (by myob [GA]) Posted on: Jun 19, 2019 11:28 AM
Message:

Rents Due I'm still laughing for sure! Sisters of Mercy in HS sisters of Charity in grammar school.

Have to admit-- they instilled fear from them and compared to that-- nothing could match up.

Rents Due it is not wisdom by any means-- hard knocks all the way 100%. --99.103.xxx.xxx




crazy rents (by Lynn [MA]) Posted on: Jun 19, 2019 12:16 PM
Message:

I believe the rents have stabilized. I rented 3 units this year for what I believe to be middle of the road rent and I didn't get a huge amount of calls. I did however get many people respond who do not earn enough money, have multiple non-immediate family members and people who have been evicted. A lot of people for my class apartment typically can not afford the unit on 1 income. I've also found that some of the S8 PHA's are also stingy with their rent rates while some pay market rates. --38.142.xxx.xxx




crazy rents (by Robert J [CA]) Posted on: Jun 19, 2019 12:38 PM
Message:

I agree that rents are super crazy. Many owners now are "investors" and not "landlords" -- plenty of deferred maintenance. My current tenants under rent control paying way less than market rents don't appreciate their bargain and savings. While newer tenant paying market want to kiss the ground once they find a place to move into. --47.156.xx.xx




crazy rents (by Blue [IL]) Posted on: Jul 1, 2019 4:47 PM
Message:

Our rents have also gone up. 3 brs have been at 800-850 for the last few years. Suddenly I see them listed for $1000-$1200. MANY posts on the local FB group looking for Non MLS 3 BR for sale. Seems there have been bidding wars over 3 BR houses. Interesting.... --66.128.xx.xxx




crazy rents (by Rob [MA]) Posted on: Jul 2, 2019 10:11 AM
Message:

Sid-

Sorry what is ETF? --99.203.xx.xx




crazy rents (by Rob [MA]) Posted on: Jul 2, 2019 10:18 AM
Message:

I just filled a 2 bed 35 miles north of Boston for $1450 Tenant moved out was only paying $1000. Everything else is going up.

Thank God I listened to you fine people and pre screened. I use Google forms to weed out the masses. Otherwise I would of went nuts with wasting my time.

I finally listen to the "raise the rent to get someone of better quality" adage.

Happy 4th everone! --99.203.xx.xx




crazy rents (by Steve [MA]) Posted on: Jul 2, 2019 10:31 AM
Message:

Rob [MA] ETF stands for early termination fee which is a fee typically 1 month's rent that the LL accepts to let a tenant out of their lease before the contracted termination date. You need to have it as a clause in your lease in order to make the tenant comply with it. --96.237.xx.xx




crazy rents (by Jim In O C [CA]) Posted on: Jul 2, 2019 12:47 PM
Message:

If you want to see crazy, San Jose Taxifornia is certifiable. 3 br 1.5 ba 1400 sf $4000.00. --99.23.xxx.x




crazy rents (by Rob [MA]) Posted on: Jul 2, 2019 10:56 PM
Message:

Steve-

Thank you. Is the tenant still on the hook for the duration of the lease until rerented or is this in lieu of? --72.74.xxx.xx




crazy rents (by Drew [CO]) Posted on: Jul 2, 2019 11:09 PM
Message:

They are up here too! I'm a couple hours away from Denver but still rents steadily rising(denver went through the roof!). While avg 2BR 18 mos ago about 650, and 700 last year, most 2BRs now are about 800 and nicer ones 850-900. --172.58.xx.xx




crazy rents (by Judi [CA]) Posted on: Jul 2, 2019 11:18 PM
Message:

On the Central Coast of California (San Luis Obispo County), studios are going for $1200+, 1 BR $1800, 2 BR $2-2400, 3 BR 2 BA $3,000k+

In a way I am sorry I turned the cottage into a music studio. On the other hand, every day I read the problems with tenants on this board and ruminate on those I had when renting, I remind myself it's no longer worth it to me at twice the inflated price.

Where was all this rent run-up when I was struggling and HAD to have a tenant? :-/ --24.176.xxx.xxx




crazy rents (by Steve [MA]) Posted on: Jul 3, 2019 6:36 AM
Message:

Rob [MA] when you allow a tenant to use the ETF you are accepting that fee in lieu of their paying the for the rest of the months on the lease. The tenant is still responsible for any damages to the property as well as all rent & fees prior to your acceptance of the ETF. --96.237.xx.xx




crazy rents (by Rob [MA]) Posted on: Jul 3, 2019 9:44 AM
Message:

Typically how much is the ETF? --99.203.xx.xx



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