Denver to License LLs
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Denver to License LLs (by Jeff [CO]) May 4, 2021 10:52 AM
       Denver to License LLs (by Gene [OH]) May 4, 2021 11:04 AM
       Denver to License LLs (by Jeff [CO]) May 4, 2021 11:19 AM
       Denver to License LLs (by 6x6 [TN]) May 4, 2021 12:26 PM
       Denver to License LLs (by Bill [KY]) May 4, 2021 12:31 PM
       Denver to License LLs (by LisaFL [FL]) May 4, 2021 12:38 PM
       Denver to License LLs (by S i d [MO]) May 4, 2021 12:43 PM
       Denver to License LLs (by MAP [NY]) May 4, 2021 1:03 PM
       Denver to License LLs (by Robert,OntarioCanada [ON]) May 4, 2021 1:57 PM
       Denver to License LLs (by Robert,OntarioCanada [ON]) May 4, 2021 2:06 PM
       Denver to License LLs (by Jim [OH]) May 4, 2021 2:27 PM
       Denver to License LLs (by GKARL [PA]) May 4, 2021 3:33 PM
       Denver to License LLs (by WMH [NC]) May 4, 2021 3:39 PM
       Denver to License LLs (by Landlord ofthe Flies [TX]) May 4, 2021 4:26 PM
       Denver to License LLs (by Still Learning [NH]) May 4, 2021 5:42 PM
       Denver to License LLs (by NE [PA]) May 4, 2021 6:10 PM
       Denver to License LLs (by Tim [CO]) May 4, 2021 6:15 PM
       Denver to License LLs (by J [FL]) May 5, 2021 2:11 AM
       Denver to License LLs (by J [FL]) May 5, 2021 2:11 AM
       Denver to License LLs (by Jeff [CO]) May 5, 2021 9:19 AM

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Denver to License LLs (by Jeff [CO]) Posted on: May 4, 2021 10:52 AM
Message:

Well, they just won't stop. Effective in 2024, all long-term landlords here will be licensed by the city, fees will be paid, properties will be inspected, landlords fined for violations, and landlords will be tracked.

Obviously there are many landlords out there who just shrug and deal with it. They are the "big picture" types who complain at first, but then suck it up. I wish I had that ability.

--76.120.xx.xxx




Denver to License LLs (by Gene [OH]) Posted on: May 4, 2021 11:04 AM
Message:

Jeff, none of us want to have those restrictions put on us. The people who put these types of restrictions in place think they are helping people, however, all it does is drive freedom loving landlords from the business which tightens the rental market. The extra costs and the less rentals available will continue to drive up the monthly rent which hurts the very people they are trying to help.

Every city already has laws on the book that if enforced would take care of any issues they are trying to fix. As Robert J and others have tried to let us know is that government continues to grow to feed itself in power and money under the auspices of trying to help the poor and the needy while most of the time hurting those very same people. --99.165.xx.xxx




Denver to License LLs (by Jeff [CO]) Posted on: May 4, 2021 11:19 AM
Message:

Gene, I agree. I think it's about tolerance levels. Mine is very low for stuff like that. No investors want this. But many, particularly institutional investors, look at long-range projections and short-term cash flow to a lesser extent.

For them, stuff like this is an annoyance, a speed bump on the path to profits. But this won't slow down, even a little, all of the endless projects that they are planning for this area.

Sad, but true.

--76.120.xx.xxx




Denver to License LLs (by 6x6 [TN]) Posted on: May 4, 2021 12:26 PM
Message:

Baby steps.

I bet you are really glad that you got out now.

--73.120.xx.xxx




Denver to License LLs (by Bill [KY]) Posted on: May 4, 2021 12:31 PM
Message:

Mom/Pop Landlord: Emotional, sell now.

Institutional Investor: Unemotional, buy now.

It hurt me to type the above because I fall in the mom/pop landlord mindset that many on this board share. I do believe we all will see the above nonsense in our markets at some point in the future. We can either adapt by creating systems / outsource the management so we too are insulated from these annoyances or we can get out now and never look back. Curling up in the fetal position and carrying around the stress of this is not a viable option for your mental and physical health. I typed this because I needed to read it also.

--50.96.xxx.xxx




Denver to License LLs (by LisaFL [FL]) Posted on: May 4, 2021 12:38 PM
Message:

Very well said Gene, itís exactly what I have been saying. The lack of foresight and long term consequences is nauseating at this point.

I think for me Iím also tired of the lack or protection for the landlords, as well as the lack of trust. I donít need or want to be micro-managed especially by someone who has never rented a high value asset out in their life.

What is sad is the long term affects on the good tenants out there. --75.89.xxx.xxx




Denver to License LLs (by S i d [MO]) Posted on: May 4, 2021 12:43 PM
Message:

To continue with what Gene said, this will definitely cause some problems with Denver housing. And it will hurt a lot of people, some of whom are the most vulnerable. I've posted on the topic of "Slumlord/Slumtenant" relationships before, but I have a very recent anecdote that will emphasize it.

Just yesterday, I was inspecting the package of 3 SFHs I put under contract recently. The first house had a caving in roof in the back that had let so much water in that the floor was deflecting at probably a 15 degree or greater angle. One part was so soft if you stepped on it you'd all right thru. The back bedroom ceiling had completely fallen down and the floor was only held together by firmly stapled carpet. The wall base was "floating" about 2 inches above the floor.

And this house was occupied by at least 6 people. Whaaaaat!?!? City regulators would have a nightmare. But there's more to the story....

The man of the house was a somewhat itinerate worker with a rap sheet. Nice guy to chat with, but had past trouble with the law, a couple of evictions on record, and had a live-in girlfriend with 4 kids. So they "needed" a 4 bedroom house. Well, this house has 5, four of which are useable and thus it fits their standards. It also rents for $650 a month, whereas any other 4 bed house in town is going over $1100 right now. Fixed up, it would easily command that much. Simply not in their budget. They'd be forced to cram into a 3 bedroom.

Btw, did I mention the tenants are borderline hoarders? Single car garage packed almost floor to ceiling with "treasures." This is why we do 2 minute in home inspections. We have no hoarders and haven't had any for 5+ years.

Bottom line is these people were happy to pay 50% of market rent, even if the house is somewhat dangerous and not all the light switches and outlets work. If you turn that house over to the city, they'd force the landlord to "fix" it, thus making it too expensive for the current tenants to rent. More than likely, he'd toss the keys to the bank, it would be foreclosed, and someone would buy it for cheap and still fix it up to a price-level too expensive for Mr. Ex-Felon/Evicted A Few Times and his family.

End analysis: Denver is preparing to create a homeless crisis, starting in 2024, as the cost of fixing properties will drive up rents to where "cheap living" be even harder than what it is today. Slum tenants need slum land lords. It's a weird symbiosis.

Btw, property #2 was in better but still pretty shabby condition. Family of 7 living there. Hubby had a track record. Son had a drug habit and was passed out on the couch. Again, paying $525 for a 4-bed house. Fixed up, should rent for $1,000.

Property # 3 was the best of the group. Just no central AC and the furnace looked like it had someone dump dirt on it for a month. All doors with punch holes. Smelled faintly of smoke. Not sure these are going to work out unless we get a significant price concession. Renters paying $850. Fixed up, easily $1,100 rent. --107.216.xxx.xxx




Denver to License LLs (by MAP [NY]) Posted on: May 4, 2021 1:03 PM
Message:

the little town that I have two duplexes in licenses all landlords. just another way to collect fines and more gov't oversight. --174.208.x.xxx




Denver to License LLs (by Robert,OntarioCanada [ON]) Posted on: May 4, 2021 1:57 PM
Message:

The reactionary tenancy groups in Toronto, Ontario proposed they license landlords where the largest amount of slum rental units are owned by the Toronto Community Housing Corporation where if tenant calls a building inspector they will not even come out to inspect along with the tenant can not apply for a rent reduction under rent control if there are serious problems in the rental unit like having problem with heating or hot water system. If the tenancy advocates think that non profit rental housing is a model they should be moving to then why the heck are living in houses along with building equity on the backs of misery of tenants. Some tenants ask for help where did not receive any help where one tenant called them the federation of home owners where the chair actually own their own houses. If slums are so wonderful then why are living in the them. Licensing along with rent control is another method of expropriating rental properties. If one wants to see the ultimate nightmare then view some videos on You Tube TCHC rental housing. While there are some rental units in poor condition the municipality already has the means to enforce where forcing rental housing providers to pay fees will make conditions worse and rent a lot higher as that is going to passed on in higher rent. Any business that can not pass increases will quickly become bankrupt. --99.236.xxx.xxx




Denver to License LLs (by Robert,OntarioCanada [ON]) Posted on: May 4, 2021 2:06 PM
Message:

In Hamilton, Ontario Canada the landlords association fought hard to prevent this non sense from happening where every few years the city wants to license all private sector rental housing providers. So far the landlords associations have prevented this non sense where start to talk to media organizations now where ask tenants if they feel they should be paying higher then ask them to them vote for those candidates who think so. Suppose a hundred a month in licensing fees are passed on to tenants in higher rent. If everyone bands together where action is taken instead of rolling over then play dead. A city already has the means to enforce building and fire codes along with make repairs then pass that on in taxes. So where is the problem here. Wonder if the city is going to do anything about the city owned housing. --99.236.xxx.xxx




Denver to License LLs (by Jim [OH]) Posted on: May 4, 2021 2:27 PM
Message:

What Gene said. --184.57.xxx.xx




Denver to License LLs (by GKARL [PA]) Posted on: May 4, 2021 3:33 PM
Message:

I think Bill from Kentucky makes an excellent point in his post. The choice is to adapt or just get out of the business. The city that I operate in has this license and inspection regime. It's a major pain. It's a classic case of a bureaucracy being created that really accomplishes little. It's just one of the things that I as a manager have to deal with on top of tenants and actually managing the properties. I think scaling helps deal with this cuz you have more resources to do so. --209.122.xx.xxx




Denver to License LLs (by WMH [NC]) Posted on: May 4, 2021 3:39 PM
Message:

We are so desperate for rental housing here, there is no way any of the local jurisdictions would try to license private housing providers. Professional Property Managers, yes, but even that does not include housing inspections unless there are violations reported. --50.82.xxx.xxx




Denver to License LLs (by Landlord ofthe Flies [TX]) Posted on: May 4, 2021 4:26 PM
Message:

I wonder if there's a cheap indestructible way to build a house that it would be profitable even with low rent. Maybe built of cinder block, rammed earth and stained concrete flooring, 4 windows all same size, etc. Something you could powerwash inside and out when time to re-rent. --108.69.xxx.xxx




Denver to License LLs (by Still Learning [NH]) Posted on: May 4, 2021 5:42 PM
Message:

Landlord of the Flies... power wash inside and outside... very pet friendly. I think you are on to something!

--75.67.xxx.xxx




Denver to License LLs (by NE [PA]) Posted on: May 4, 2021 6:10 PM
Message:

With my drivers license, I get to drive down the highway. What does the landlord get with their license? --70.44.xxx.xx




Denver to License LLs (by Tim [CO]) Posted on: May 4, 2021 6:15 PM
Message:

I own / rent affordable ďcĒ units in Denver and this will definitely drive the lower income tenants out of our neighborhoods. It will make the affordability issues worse and SFH houses are/ will no longer be rented as mom and pop get out. Short term rentals didnít help this situation either. On the plus side they mailed out tax assessments this week and we all gained 20% instant equity! Iím waiting for the building cost to come back to reasonable levels before I redevelop with market rate homes that Iíll just sale off. In 15 years 60k invested is 1.25mil now. Wished I could have afforded to buy more back in 2004! Ride the bull if you have the guts I say! --71.211.xxx.xx




Denver to License LLs (by J [FL]) Posted on: May 5, 2021 2:11 AM
Message:

So is Colorado the new "worst state to be a landlord in"...?

--72.188.xxx.xxx




Denver to License LLs (by J [FL]) Posted on: May 5, 2021 2:11 AM
Message:

So is Colorado the new "worst state to be a landlord in"...?

--72.188.xxx.xxx




Denver to License LLs (by Jeff [CO]) Posted on: May 5, 2021 9:19 AM
Message:

I would say California and New York are worse, but we're working it. There is more talk about rent control.

6X6, yes, I am thrilled to be out of it. --76.120.xx.xxx



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