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ghogan1010 t1_j9yx79q wrote

Good for you guys. As a landlord who tries to treat his tenants with respect with updated buildings, reasonable rents, etc it’s good to see you taking a stand against those who don’t.

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airforcereserve t1_j9zd7o0 wrote

Unless you rent for half the market rate you're not one of the good guys. We're coming for you next.

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Heysoos_Christo t1_j9zetk1 wrote

I'm upset about the increased rent costs as much as the next renter, but this is an extremely shortsighted, asinine comment.

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ghogan1010 t1_j9zg5cv wrote

This is someone who will never find the capability or intellect to own a home. If “market” rent is upwards of $1700-$2000 and my units are renting for $1200 - $1500 without an increase this past year and no projected for this year, I’d say I’m being pretty fair.

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MrArkAngel11 OP t1_j9zv5y0 wrote

I think thats pretty reasonable especially since that sounds like youll make a little above the mortgage but nothing insanely high. Thats what my family does with their rentals.

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ghogan1010 t1_j9zx5uw wrote

There’s a lot that goes into owning rental properties that people don’t take into account. My 4 unit property last year brought in for revenue $60,000 in revenue. Market rates that number could be $85,000. Now expenses. 36,000 for mortgage, taxes, insurance. I own an additional $5,000,000 umbrella liability policy that costs around $500 per year

I had 2 hot water tanks go last year. $3,000 total in expenses. Dishwasher went in 1 unit. $785 Pest control issue as it’s close to the water and surrounding area has an issue. $1500. That’s up front charge and monthly maintenance plan because I’d rather prevent a problem than not.

I installed 2 outdoor plugs for 2 units because they own electric cars and were running extension cords through a window. Rather not have them endanger themselves doing that. $500 each per plug.

We painted and replaced flooring in common area for $2500. Common area electrical, sewer, water, landscaping, property management, accountant for the year total just under $4500

This brings total profit on the unit to $10,000 per year. We had virtually zero snow removal and thankfully it was a low year in terms of maintenance. But what happens next year if the other 2 water tanks go, or in 5 years when the roof needs replacing, or someone moves out and I miss a month’s rent from the unit? There’s most definitely multiple components to owning and a lot of people are jerks. But we aren’t all jerks. Some of us are trying to build an asset, be fair to people, and benefit in the long term. For as many bad landlords there are, there are scuzzy tenants. It needs to be a partnership.

Yes some people are cut throat businessmen and there’s ways to squeeze a hell of a lot more out of it. But many tenants don’t treat properties with any kind of respect either. Thankfully mine do and I am fair to them in return.

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SwampYankeeMatriarch t1_ja09i2z wrote

Heads up, this user is shitposting extremist arguments on both sides of the issue. OP, feel free to correct me, but it looks like they're pretending to represent your movement when they're really just trying to polarize and undermine productive conversation.

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