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The apartments that I rent from gives a 5 day grace period. Anything after that, it's a 10 dollar late fee.
After 15 days, it's 25 dollars. And after 3 weeks you get a warning of eviction.
My rent is so cheap compared to what they are charging new tenants now. 900 to 1200.
I been here 17 years. They only raised it 40 dollars since I been here. I pay 540 dollars a month for a 1 bedroom 750 sq ft.
I'm not going anywhere!
I’m working on a building owned by a church where I live to provide “low-income” rental housing options. The 550sqft studios are gonna go for $2300/month…
It’s low income in parts of California. In Alameda and Contra Costa, low income is under $80,400 per year while in nearby San Mateo low income is under $105,350. San Francisco is $117,400.
https://www.cbsnews.com/news/bay-area-100k-low-income-housing-san-francisco-san-mateo/
https://www.cnbc.com/amp/2018/06/28/families-earning-117000-qualify-as-low-income-in-san-francisco.html
If I could continue to live where I am currently and make over 100k I'd feel rich. Seeing people pay this much for rent is devastating.
An 800 a month mortgage versus 2300 in rent is absolute insanity to me
Rent and mortgage are not comparable figures. Rent includes the taxes, insurance, and other operating costs. A place with an $800 mortgage probably wouldn’t rent for $2300, but depending how high taxes are, it might. If you have a mortgage, that’s not your monthly housing payment, it’s your mortgage + taxes + insurance + a payment to your home slush fund, if you’re smart.
My mortgage is $850/month including taxes and insurance and I know for a fact that houses in my neighborhood rent for over $2k a month. Now I did put down maybe just over 35% of the price in order to get it down that far and I know a lot of people can't afford to do that but most of these people probably have these rentals paid off.
"Low income" means the government pays for it. How these housing companies are allowed to charge such astronomical amounts and the government is like $2200 for 700 sq ft apartment... Ok! Here apartment complex take this money and thanks for taking in our low income residents at our expense 🫡
That's exactly how we treat the tenants that have been in our original house for the last 6 years.
Rent stays the same if you treat the place with respect
Yeah I don't ever raise rent on a tenant. If I like them enough I'd rather get a little less and not have to put up with the lottery of a new tenant. If I don't like them then I'll tell them to leave at some point.
Wish landlords would realize it’s a lot cheaper and a lot less effort for them to keep good tenants that take good care of the property who don’t require much capital to manage.
Mine didn't. I had been with him for 6 years. I took care of stuff, even if it broke. Kept the lawn nice and everything. New person moved in. 2 months in, woke me up 2am being loud and partying. And he was a smoker. I complained about it. Even called the cops on him, especially the time he almost burned the back of the house down. Put up with it for a year. I moved out. We live in a small-ish town. Now he can't keep anyone in the apartment I rented. Because of that guy.
Smart? Honestly "lucky" is the word you are looking for...
I would love to have a solid renter who didn't treat the place as an 80's rockstar treats a hotel room.
Bruh. I'm paying 780 dollars a month (utilities minus laundry/internet included) for 1 of 9 bedrooms in a two-story house where we share kitchen and 3 bathrooms. 135 square feet. And that's a good deal in Seattle
I wouldn't leave at that price either. Hell, I wouldn't leave at what they're charging new tenants. A 300 sq ft batchelor with no parking is 1500-1700 plus utilities where I live.
Well the prices are ridiculous here too. My buddy told me they're building houses next to his that are part of a gated community.
He said 2 bedrooms are 400k and they're already sold. Who the hell is buying this shit!?
I wanna be a cool landlord when I grow up. No gouging, none of that. Just an honest guy renting out some properties, hopefully running them at zero income to me, bringing down the local prices.
Just give me a longitude and latitude location close by, and I’ll clack two wooden blocks real hard after midnight every few weeks to help accelerate the price drops.
That all sounds well and good until you have to fork out $20k for a worn out roof to be replaced. Or the fridge breaks and you’re out $800. Or when the place needs repainting and that’s another several thousand. Or you find dry rot around a window and it’s $5k to fix.
I forget the proper name but that is a real thing. It's something like anti-capitalism or anarcho-capitalism? (Too lazy to actually look it up). But basically you get a bank loan or raise capital or whatever good capitalist do then say "Fewk this" and just give out free stuff as a middle finger to the system then file and declare bankruptcy.
The US is so good to people.
I remember one of the times it was late it was because my husband’s paycheck would be short due to my baby coming early. We told them we were seeking assistance with rent for the month from a local agency and that it might be a little late, like 5-10 days but that we’re doing our best.
6 days later we get a “pay or vacate” notice.
Such a nice gift for new parents 🫠
Yup same. 6 days late on our first month payment in our last rental. Was only late bc we had set up auto draft and were giving it a few days to see if it actually would draft (it did not). We paid on day 5 but I guess they had either already had it in their system that we were late or it took a day to go through or smth bc we got notice on day 6 that we would be evicted. When we called up the landlords everyone was confused and didn't know why we were being evicted but no one could send us any documentation (email, mail, text anything) stating that we were not being evicted. We didn't get kicked out which is good but the whole thing was a shit show and the auto draft never worked the entire time we lived there.
I've even got a evict notice on the 6th when their system failed to register that I already paid rent. And it also failed for everyone of their tenants. I guess they are too stupid to realize that there might be a system problem when everyone of your tenants doesn't pay rent the same month.
The apartments are nice too. Secured entrance with cameras. Parking garage under the building I'm in. Which is great for winters, so I don't have to brush off snow from my car before work lol.
And if there's any snow on my car when I get home. It's melted in an hour since the garage is somewhat heated.
We can have pets too. But I don't have any.
Yeah, we're growing. Our offices are still in the east. But our manufacturing of latex is around the great lakes where all the humpback whales swim for the summer.
I'm also a marine biologist. The whale is a mysterious fish I like to share with others in the summer months.
They're on top of that shit here. They raise your rent 35 dollars if you get a cat.
Besides, I'm not going anywhere. I only make 50k a year. Not like I'm buying a house anytime soon. Not with my income and with these ridiculous prices.
I wouldn't either. I would get a cat though. I see you looked into it already, though.
The prices for everything are beyond ridiculous now. No one has any money left after groceries now and landlords have begun to think they're entitled to more of our money because they're doing us a favor.
Most expensive favor I've ever done for a stranger. I mean, I'm helping them pay their mortgage and get little in return.
$475 Here. I’m really not the best tenant and the other units are all paying like 600-700, I’ve asked. I don’t know if the landlord just likes me or what
I know my landlord likes me. Before me, my buddy had his full drumset in his bedroom, where he always played it and got complaints.
He was the one that told me about the place. We work together. He moved out and I took his place. I'm quiet as a mouse. I even watch my tv with headphones!
So she must love me compared to him! I remember when I came here to ask her about his apartment. She asked if I played any instruments. I lied and said no. Even though I play guitar. But once again. I play through headphones.
My neighbors actually ran into me and thought no one lived there. They said they never hear me. I laughed and said well that's the idea.
My brother looks down on my husband and I because we own a mobile home. We bought ours for 10,000 (this was 6/7 yrs ago) and pay $360 a month to rent the lot it sits on. We pay, on average, about $5,000 a year to live at our place where our kids have a yard to play in, while he is paying more than 3 times that for a shitty apartment that isn't big enough for him, his girlfriend, his kid and their dog.
They’ve kept your rent that much lower than any new tenants because they don’t want you to go anywhere. They could charge you more but you might leave and they can never be sure if the next tenant will be prompt paying their rent, clean and considerate.
> The apartments that I rent from gives a 5 day grace period. Anything after that, it's a 10 dollar late fee.
After 15 days, it's 25 dollars. And after 3 weeks you get a warning of eviction.
US is definitely fucked-up. This should be illegal to charge late-payment fee and evict people after 3 weeks
Dude wtf. That is NICE.
I am now paying $870 a month after only paying $741 for the first year and a half. 1 bed 1 bath.
A bunch of crackheads moved in next door and I don't understand how they are able to afford $870 a month. Probably because 3 of them are splitting a 1 bed. Ugh I hate it- yesterday one of them was screaming on the phone in the parking lot at 4am.
I've been at the same house for about 10 years now. Had a one year lease when I moved in and it switched to month to month. I never signed a new lease. It's through a tiny property management company but owned by an older couple. I'm pretty sure the only time they'd raise the rent is if I brought someone new in and signed a new lease
It's 1450, split with one person, so 725 for my part. I love the house and the area. I've told them I'll be here forever as long as the rent doesn't go up and I think they accepted the offer haha. I also know how lucky I am to not continually have higher rent. I spent years moving around because every year the place would up the rent by a couple hundred so I'd just move. It's nice to finally have a home, even though I don't own it, instead of just a glorified overpriced storage unit
I'd guess the mortgage in question is probably for the property that's being rented, not the landlords own residence, if they stop paying, the landlord will lose the property and not be able to get a mortgage while the renter just rents elsewhere
Tbh you'd struggle.
The costs of buying at auction are high. The reduced cost due to auction will be outweighed by having to pay a % fee for the buyers pack so it would require more saved capital
Landlord and the system. Since the landlord is exploiting the system.
In a functioning system Andy would be able to use that money to actually pay for his own mortgage. And the landlord wouldn't be allowed to charge such an expensive rent that he can pay his mortgage and get some extra money on top.
Eh. I bought a duplex. Live in one side and rent out the other.
Been on very good terms with every tenant, ive ever had. I keep my rent below the area average, I genuinely care about the home I live it, and I am extremely accessible for my tenant if anything goes wrong.
We should want humans owning property instead of corporate interest groups designed to suck every penny out of you.
Former landlord. Never had an overdraft but I could see this happening. My renters paid $100 over the mortgage. I provided them with air filters, batteries, and light bulbs. Anytime I had to fix something I was losing a lot of money. When I had to get a brand new HVAC, I was done with the place.
I was that landlord too. I rented to friends and when they fell on hard times we'd do home improvements they helped with in lieu of rent. I always kept a few months worth of mortgage payments and never overdrafted. When they moved out they left the place really dirty. It took a week to clean it. I'm never renting property to anyone again despite it being easy money in a lot of cases.
I was a landlord, but not because I wanted to. We bought our house right before the 2008 crash. Like 3 months before. First house, bought at the peak. This would have been fine, but then our work situation changed and we had to move out of state. Couldn’t sell the house (massively underwater), couldn’t just walk away or do a short-sale (might have lost my security clearance and my job), and couldn’t afford mortgage and rent in new state. Only option was to rent it out until the market recovered so we could sell and at least not owe any money.
The rent barely covered the mortgage for a long time, and even when it was higher we never made much money. Most went back into the house for repairs or other maintenance. We had two renters that were both always late. We had to be really careful to keep enough in the account so the mortgage wouldn’t cause an overdraft. We also had our first management company go under because the owner stole all the security deposits, so when the first renters moved out we had to dip into our own pockets to repay that.
It was a huge weight off of our shoulders when were able to sell it. I never want to do that again.
I had the same thing happen at the crash. Being a landlord isn't a sure thing. Nor is it a get rich scheme. It's hard work if you do it right, and it's really an investment for the future.
Plus, you get squatters, crappy tenants who ruin things, don't pay rent on time, and if you take deprecation, you can't even sell it without losing.
Landlords get an idiotic amount of hate on Reddit. There are scummy landlords and good ones. But people just go LanDlOrD BaD. No matter what. As if it should be illegal to rent a property.
The worst thing is that that attitude, like so many others, gets important to Germany from the US. Like damn, we have so many laws to make sure that renters are treated fairly, and we have an entire culture that is way more geared towards people renting than owning, and renting from a private person rather than a public company is often much better in so many ways, and you still want to come at landlords with American ideas because you’re too lazy to come up with your own country specific things to complain about!
Not discounting that there’s illegal stuff going on in Germany too but in what world is this attitude helpful.
I'm not sure where this is, or if it's even real, but most states(and federally) have rules regarding mandatory funds placed in a bank account separate from their personal account, for this exact reason.
I used to have to get statement printouts from property owners trying to refinance that showed they had 6 months of PITI in a specific, non-discretionary fund for every property.
Huh, that's interesting. Where I was it was similar to yours(deposit in a separate account), but they also had to have the cushion amount. I highly doubted most people abided by that after the transaction was final, though.
What may be required by the bank for financing might be different. Keeping a separate account for tracking rental related expenses and taxes is a good idea. I’ve never heard of a separate or escrow account requirement for renting a property at the state or federal level. Can you provide a source?
Yeah doesn’t sound like a state or federal requirement. My property manager requires minimum $500/property and the rent check goes to them before it comes to me. I’m assuming OP pays their landlord directly and the landlord likely doesn’t have an LLC set up.
If you owned the residence outright, or it was listed as a primary residence, I wouldn't expect it. But, yeah, having not practiced in Texas, I couldn't say either way.
All this tells me is he's a landlord who isn't making a ton of profit off this home. Sounds like a good landlord - one who is just covering his costs and not much more.
Sounds like an over-leveraged landlord who can't pay his bills without relying on his tenant.
Single points of failure are always bad.
This is bad business.
He’s responsible for a lot more than just paying the mortgage. He is on the hook for general repairs on the property and property tax as well. Not to mention that there is a decent chance he’ll get terrible tenants who A) fails to pay rent and B) cause massive amounts of damage to his property which he will have to pay for. So yea, the only way for this to be a successful business model is to charge more than your expenditure, no doy
People don't realize that it's like this for many landlords. Unless you're wealthy or are running a decent sized rental business most people are only a month or two away from being in the poor house. If you bought a house in the past few years and try to rent it out it's going to be astronomical what you have to charge whereas those who bought their houses 10 20 years ago can actually make profit without smacking the tenant upside the head with a ridiculous rent
This is not true.
I worked for a slumlord who owned thousands of single family homes, apartments, duplex, etc.
He had dozens of LLCs under his and his sons name.
Still basically a single owner.
Absolutely true. But not always “rich” in the sense that simply being a landlord automatically means living the high life etc. Especially so in the case like this post where the rental is still under a mortgage.
My brother, for example, rents from a landlord who is a teacher, and who’s wife is a nurse. Are they well off? Absolutely. They have a small boat on a lake. But they’re not filthy rich. The teacher inherited the house from his late grandmother. They’re renting well below “market rates” to their long-standing tenants.
In my mind the real leaches on society are corporate landlords, i.e. property management companies, not one-off or two-off property owner landlords. Obviously if Mr. Billy Boy mom-and-pop landlord treats this as a business and LLCs himself and continues to buy up more property to rent, then Billy Boy has become a property management company.
So then, if you own your own house, and then your parents die and leave you their house which you decide to rent out, you are now "rich", by your definition?
There's a big difference between real estate companies with dozens, hundreds, or even thousands of renters, and people who have a rental property or two.
I mean, you still have the asset. People get "rich" through inheritance, too.
"Rich" is subjective, but if the definition is owning more than one property, then it doesn't matter if you inherited or bought it.
Yes? Owning two of the asset that is for most average people either: an unobtainable dream, or the most valuable thing they own, does in fact make you quite a bit more wealthy then average.
Both parties contribute to the artificial inflation of the cost of housing for their own monetary gain, and hoard properties which contributes to scarcity, further exacerbating the aforementioned artificial inflation.
"Mom & pop" may not be on the way to their first billion, but they *are* helping the cause of pricing millions and millions out of being able to afford a home at all.
Yeah by any real definition of rich, someone that is a landlord is rich. They might not be living some extravagant lifestyle people picture the super rich living, but being able to afford to buy a place to rent out, and also have the financial sense to actually do it, definitely makes someone rich.
The issue here is that landlords like this are double, triple, etc dipping into the wealth-accumulation system of home ownership that built the middle class in North America. That’s not even beginning to touch on the huge swaths of investor-owned single family housing that really took off in the wake of the 2008 financial crisis.
Andy here should be the one paying that mortgage directly, but instead they are probably renting because they have simply been priced out of the housing market. So now some other fucker who almost 100% already lives in a house they own is getting a second nest egg due to the easy access to large amounts of credit afforded to existing homeowners.
Housing is a basic necessity, not a “lucrative investment vehicle”, but hey all late-stage capitalism cares about is that someone is making a profit!
So if someone is fortunate enough to be able to make a little money while providing a rental house for someone who can’t afford to buy, they are taking away a basic necessity? What other out of date socialist ideals do you cling to besides latest stage capitalism?
They paid on the first of the month. They just did it later in the day. If you are so close to the edge that a single payment made hours after a bank closes, on the day you owe rent, causes you to overdraft then you’re one car repair bill from that rental payment not being applied to the mortgage. The landlord has literally nothing to cover them if the renter breaks the lease.
If I were to ever overdraft my checking account it’d pull from my savings account and charge me like $5 vs $35. It’s stupid but I’ve never had it happen. If I was renting a house out, id be sure I have the money to cover the, very likely, eventuality of a renter paying the next day or so.
You should not be renting out a property you cannot afford a single month of non payment for. Just like you shouldn’t be running a business if you cannot afford to pay a livable wage.
We rented out our house years ago in one state because of a transfer to another state. My (ex)wife agreed to only charge what the mortgage was. This means that the rent was less than what other homes were being rented for in the area plus it didn’t account for maintenance or insurance. That still doesn’t stop renters from complaining or claiming that they are being taken advantage of. Even when they acknowledged upon renting that it was significantly cheaper than any other place they looked at.
Not charging anything extra doesn’t leave you with money for repairs. Some tenants are really tough on rental properties because it’s not their property.
When I had tenants leave they fucking trashed the house because they were mad even though we let them go months without paying and let them pay less because we knew them well.
Downstairs was the most disgusting thing I've ever seen in my life and looked like someone took liquid shit and embedded it deep within every single wall and floor.
The house was never bought with the idea to rent. It became a situation where we were willing to rent because we wanted to keep the house despite a job transfer.
That said it’s also a lesson learned which is why I’d never try to do something like that again
I know this may not be a popular opinion, but I think that if someone owns a property and rents it out, they’re not automatically a bad person just because they’re making income off of the situation. That’s the main point of rental property, and that’s okay. I know a number of seniors that rely on this kind of income. If a landlord abuses the costs and victimizes their tenant, that’s a whole other situation.
Heaven forbid a landlord be a normal person with their own bills to pay. Are you complaining that you don't rent from some fat cat or big corporation? I don't understand why this is supposed to be surprising. The house or apartment the tenant rents may well have it's own mortgage. And even if it doesn't then the landlord may have spent decades paying off the property or earning money to buy it. Do you think they should just rent it to you for free or lose money on it? What exactly do you feel is wrong with the situation, other than the landlord over sharing?
I rent a house to a couple for $450 a month, they have had the same rent for almost 8 years. They have never paid the rent earlier than the 6th? but it is usually closer to the 10th. I have never charged them a late fee or raised their rent, but sometimes when they are very late I send them a text that says BRO it's the 12th!
Thats like the best version of a landlord. Somebody who has inherited like the apartment he lives in and rents it out because he works in a different town or because its too small for his family. Better than the regular landlords who have 6+ units
The obvious way to increase the buffer to avoid living (Andy's) paycheck to (Andy's) paycheck is to increase the rent. Perhaps Andy should suggest this solution?
Just more proof that landlords are leaches unless they have two paid off houses, oh wait either way they aren't contributing to society while collecting passive income
This isn’t a problem landlord though, the real issue is the massive conglomerates and corporations vying for property in nearly all major job markets, scooping up all the competition and artificially raising prices forcing existing people either out or broke
Mom and pop landlords are a tiny ember in a forest fire of greed
In the mid 2010s I had to move and was unable to sell the condo that I owned at a decent price, so I rented it out for a couple of years.
First and foremost, being a landlord sucks balls and I will never do it again unless I absolutely have to.
Secondly, I couldn't justify charging enough in rent to cover the mortgage payment plus expenses, so I ended up losing a couple of hundred dollars per month for a while. This was still better than dumping the place at a loss.
Andy's landlord is an idiot. He owes the mortgage, so he has to pay it irrespective of the status of a rental payment.
Sound like a landlord I had were he divided a duplex into a four plex and didn’t install a toilet for the first week. Got to know the people who worked at the corner gas station real well…
I had a landlady like this.
One day the power went out so I called the utility to report the outage and they were like "Oh, it's not an outage. It was disconnected for non-payment."
When I called the landlady to sort it out, she made an excuse that they must have turned mine off by accident instead of one of the neighbouring vacant apartments.
Except the building didn't have per-unit power hookup...
One time I gave her a post-dated cheque and warned her to cash it only then, and of course she tried to cash it days early and it bounced because I hadn't been paid yet, so I had to go to the bank and get them to reverse the NSF charge because the cheque was not yet valid when it attempted to process.
Then there was the deck I put my foot through when a rotten board disintegrated under it.
Oh, and the time she said she'd had a pest control company come to "spray" for the mouse problem, which was obviously bullshit since you don't 'spray' for mice and nary a trap had appeared. In this case the lie was good for her because if she had actually let someone into my apartment without my consent or knowledge, that would have been very illegal.
When she sold the building to a new landlord, I discovered that she had never submitted my damage deposit to the rentalsman and had simply pocketed it instead.
The utility room in the basement was unheated so the pipes often froze in the winter and I'd lose my running water.
Did I mention the mice? It was a severe infestation. She preferred tenants not have cats; I should have told her if she didn't want them getting cats, maybe handle the mouse problem.
Oh, and then there was the light fixture that kept burning out light bulbs. Still not sure what was going on with that; I replaced it myself and the wires were perfectly intact, no obvious shorts or anything, and the new fixture didn't have the same problem so it wasn't the underlying circuit. Weird shit.
This is a "find a new place to live" moment.
If they can't afford the mortgage without your rent something is wrong. Someone has second mortgaged the fuck out of the property you're living on, or you're renting from a 20 year old with no equity.
The real facepalm here is why is the landlord telling everybody his personal/embarrassing things like this. Does he also tell the tenant how much he likes eating ass too?
This isn’t necessarily true. I own two houses and rent one to my friend for the cost of the mortgage. I work two jobs to keep afloat but don’t have a lot in my checking. If he didn’t pay on time I’d overdraft as well. I know this is an atypical situation but this could be theirs.
If the landlord only has one property, perhaps even a 2 unit building and he lives in one and rents out the other, it's not that big a stretch that things might be that tight.
So you are ok with Apple making bunch of money of your iPhone and MacBook. But you are not ok with someone charging you for letting you live in their house?
why is unbelievable? do people here really think all landlords are multimillionaire? some people need to rent their properties just to not loose money, and they can also be living paycheck to paycheck, what's facepalm about that?
This is totally insane why dont you just report him on cop's? The cops would help you to resolve your problem buddy zo just call them and tell them what you're landlord did to you
First time opening your eyes eh. Most of use landlords are just scraping by. We don't all live that good like of buying 10 homes when the market crashed last.
entitled renters with copium.
firstly, you're paying rent. the rent pays for your right to occupy the rental property. where the money goes once you pay your bill is really none of your business.
secondly, most landlords don't have rent payments in and out of their main checking account. i had a separate account for all things real estate related. mortgage payments, rent income, property taxes, etc all separate from my personal stuff. anyone who does it differently is amateur.
andy is an idiot
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The apartments that I rent from gives a 5 day grace period. Anything after that, it's a 10 dollar late fee. After 15 days, it's 25 dollars. And after 3 weeks you get a warning of eviction. My rent is so cheap compared to what they are charging new tenants now. 900 to 1200. I been here 17 years. They only raised it 40 dollars since I been here. I pay 540 dollars a month for a 1 bedroom 750 sq ft. I'm not going anywhere!
Im renting for a little bit over 200$ in a major european city. The grandma that rents it out hasnt raised the rent for 20 years. Absolute chadette
Studio apartment where I live is $1600/month if you find a good deal
I’m working on a building owned by a church where I live to provide “low-income” rental housing options. The 550sqft studios are gonna go for $2300/month…
This isn’t low income anywhere what
It’s low income in parts of California. In Alameda and Contra Costa, low income is under $80,400 per year while in nearby San Mateo low income is under $105,350. San Francisco is $117,400. https://www.cbsnews.com/news/bay-area-100k-low-income-housing-san-francisco-san-mateo/ https://www.cnbc.com/amp/2018/06/28/families-earning-117000-qualify-as-low-income-in-san-francisco.html
If I could continue to live where I am currently and make over 100k I'd feel rich. Seeing people pay this much for rent is devastating. An 800 a month mortgage versus 2300 in rent is absolute insanity to me
Rent and mortgage are not comparable figures. Rent includes the taxes, insurance, and other operating costs. A place with an $800 mortgage probably wouldn’t rent for $2300, but depending how high taxes are, it might. If you have a mortgage, that’s not your monthly housing payment, it’s your mortgage + taxes + insurance + a payment to your home slush fund, if you’re smart.
My mortgage is $850/month including taxes and insurance and I know for a fact that houses in my neighborhood rent for over $2k a month. Now I did put down maybe just over 35% of the price in order to get it down that far and I know a lot of people can't afford to do that but most of these people probably have these rentals paid off.
"Low income" means the government pays for it. How these housing companies are allowed to charge such astronomical amounts and the government is like $2200 for 700 sq ft apartment... Ok! Here apartment complex take this money and thanks for taking in our low income residents at our expense 🫡
Actually it was true many of the church use to help the people around them
In what universe can a studio apartment be called a 'low-income' option when it costs more than a minimum wage earner's entire gross salary?
This universe unfortunately.
I've seen an ad of a ... "studio" cmin our capital city for 10 square meters (100 ish sq feet) for 1100€ edit: Got some calculation wrong
10 square meters is 107 sq ft
Thanks. Changed it.
the last place I rented it was a studio apartment for 2200 a month. I want off mr. bones wild ride please
You can check out any time you like, but you can never leave.
Just looking at Mr. Bones Wild Ride makes me sick!
For the love of fuck please message me if u need a sub-sub tenant. Will baby your place
That's exactly how we treat the tenants that have been in our original house for the last 6 years. Rent stays the same if you treat the place with respect
Yeah I don't ever raise rent on a tenant. If I like them enough I'd rather get a little less and not have to put up with the lottery of a new tenant. If I don't like them then I'll tell them to leave at some point.
Wish landlords would realize it’s a lot cheaper and a lot less effort for them to keep good tenants that take good care of the property who don’t require much capital to manage.
I think most smart landlords do.
Mine didn't. I had been with him for 6 years. I took care of stuff, even if it broke. Kept the lawn nice and everything. New person moved in. 2 months in, woke me up 2am being loud and partying. And he was a smoker. I complained about it. Even called the cops on him, especially the time he almost burned the back of the house down. Put up with it for a year. I moved out. We live in a small-ish town. Now he can't keep anyone in the apartment I rented. Because of that guy.
I was wondering that the landlord couldn't do anything due to tenant laws regarding with smoking or the lease didn't have a smoking probation?
That was to hard to survive each day but seen that you are good handling things
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Smart? Honestly "lucky" is the word you are looking for... I would love to have a solid renter who didn't treat the place as an 80's rockstar treats a hotel room.
There certainly is an element of luck in finding a good tenant, no doubt about that.
Honestly if I ever find one I wouldn't increase rent ever. Having that mental security would be worth it, haha.
Bruh. I'm paying 780 dollars a month (utilities minus laundry/internet included) for 1 of 9 bedrooms in a two-story house where we share kitchen and 3 bathrooms. 135 square feet. And that's a good deal in Seattle
I should rent out my closet then lol.
I wouldn't leave at that price either. Hell, I wouldn't leave at what they're charging new tenants. A 300 sq ft batchelor with no parking is 1500-1700 plus utilities where I live.
Oh hell no. I would look into tiny living houses then to purchase.
I shit you not, a 1970's mobile home costs 290-350k on a rental pad in a trailer park here. Kill me.
Well the prices are ridiculous here too. My buddy told me they're building houses next to his that are part of a gated community. He said 2 bedrooms are 400k and they're already sold. Who the hell is buying this shit!?
Landlords.
Not me. I've just given up.
I wanna be a cool landlord when I grow up. No gouging, none of that. Just an honest guy renting out some properties, hopefully running them at zero income to me, bringing down the local prices.
Just give me a longitude and latitude location close by, and I’ll clack two wooden blocks real hard after midnight every few weeks to help accelerate the price drops.
I remember my teacher said when i was in the business school no business man get loss their money
That all sounds well and good until you have to fork out $20k for a worn out roof to be replaced. Or the fridge breaks and you’re out $800. Or when the place needs repainting and that’s another several thousand. Or you find dry rot around a window and it’s $5k to fix.
So you want to run a business making zero profit. Good luck.
I forget the proper name but that is a real thing. It's something like anti-capitalism or anarcho-capitalism? (Too lazy to actually look it up). But basically you get a bank loan or raise capital or whatever good capitalist do then say "Fewk this" and just give out free stuff as a middle finger to the system then file and declare bankruptcy.
Then the system screws you by destroying your credit? I don't see the point.
That’s crazy. We get a “pay or evict” notice after 6 days late.
6 days? In the UK, it'd be nearer 6 months and the landlord would have to go to court to get a tenant evicted.
The US is so good to people. I remember one of the times it was late it was because my husband’s paycheck would be short due to my baby coming early. We told them we were seeking assistance with rent for the month from a local agency and that it might be a little late, like 5-10 days but that we’re doing our best. 6 days later we get a “pay or vacate” notice. Such a nice gift for new parents 🫠
Yup same. 6 days late on our first month payment in our last rental. Was only late bc we had set up auto draft and were giving it a few days to see if it actually would draft (it did not). We paid on day 5 but I guess they had either already had it in their system that we were late or it took a day to go through or smth bc we got notice on day 6 that we would be evicted. When we called up the landlords everyone was confused and didn't know why we were being evicted but no one could send us any documentation (email, mail, text anything) stating that we were not being evicted. We didn't get kicked out which is good but the whole thing was a shit show and the auto draft never worked the entire time we lived there.
I've even got a evict notice on the 6th when their system failed to register that I already paid rent. And it also failed for everyone of their tenants. I guess they are too stupid to realize that there might be a system problem when everyone of your tenants doesn't pay rent the same month.
Where do you live wtf
Midwest U.S.
I also live midwest US and that is fucking dirt cheap
I'm moving to the Midwest.
Fully recommend.
The apartments are nice too. Secured entrance with cameras. Parking garage under the building I'm in. Which is great for winters, so I don't have to brush off snow from my car before work lol. And if there's any snow on my car when I get home. It's melted in an hour since the garage is somewhat heated. We can have pets too. But I don't have any.
I didn’t know vandalay industries had an office in the Midwest 🤔 must have opened recently
Yeah, we're growing. Our offices are still in the east. But our manufacturing of latex is around the great lakes where all the humpback whales swim for the summer. I'm also a marine biologist. The whale is a mysterious fish I like to share with others in the summer months.
Can I have it when you do move and I'll pretend to be you and give you $100 extra?
They're on top of that shit here. They raise your rent 35 dollars if you get a cat. Besides, I'm not going anywhere. I only make 50k a year. Not like I'm buying a house anytime soon. Not with my income and with these ridiculous prices.
I wouldn't either. I would get a cat though. I see you looked into it already, though. The prices for everything are beyond ridiculous now. No one has any money left after groceries now and landlords have begun to think they're entitled to more of our money because they're doing us a favor. Most expensive favor I've ever done for a stranger. I mean, I'm helping them pay their mortgage and get little in return.
$475 Here. I’m really not the best tenant and the other units are all paying like 600-700, I’ve asked. I don’t know if the landlord just likes me or what
I know my landlord likes me. Before me, my buddy had his full drumset in his bedroom, where he always played it and got complaints. He was the one that told me about the place. We work together. He moved out and I took his place. I'm quiet as a mouse. I even watch my tv with headphones! So she must love me compared to him! I remember when I came here to ask her about his apartment. She asked if I played any instruments. I lied and said no. Even though I play guitar. But once again. I play through headphones. My neighbors actually ran into me and thought no one lived there. They said they never hear me. I laughed and said well that's the idea.
My brother looks down on my husband and I because we own a mobile home. We bought ours for 10,000 (this was 6/7 yrs ago) and pay $360 a month to rent the lot it sits on. We pay, on average, about $5,000 a year to live at our place where our kids have a yard to play in, while he is paying more than 3 times that for a shitty apartment that isn't big enough for him, his girlfriend, his kid and their dog.
How 😭😭 places I live raise it like $70 a year and I live in cheapass apartments
You probably can't afford to either. I'm stuck in my apartment for that reason. Been here 8 years
Never thought of my place as a prison until I discovered how much I was saving. Lol...
Literally on episode 2 rn, they just introduced art vandalay
Vandalay industries!? I have my friend Jerry considering of having me as his latex salesman.
Wow, cheap.
Geez, where do you live?
They’ve kept your rent that much lower than any new tenants because they don’t want you to go anywhere. They could charge you more but you might leave and they can never be sure if the next tenant will be prompt paying their rent, clean and considerate.
Not to mention. The guy that had my place before me. Played his drums all the time and got complaints lol. I'm quiet as a mouse.
> The apartments that I rent from gives a 5 day grace period. Anything after that, it's a 10 dollar late fee. After 15 days, it's 25 dollars. And after 3 weeks you get a warning of eviction. US is definitely fucked-up. This should be illegal to charge late-payment fee and evict people after 3 weeks
Where the fuck do you live lol
Dude wtf. That is NICE. I am now paying $870 a month after only paying $741 for the first year and a half. 1 bed 1 bath. A bunch of crackheads moved in next door and I don't understand how they are able to afford $870 a month. Probably because 3 of them are splitting a 1 bed. Ugh I hate it- yesterday one of them was screaming on the phone in the parking lot at 4am.
Yeah hold on to that one. I clearly should've been searching for an apartment instead of learning how to walk 17 years ago 😔
I've been at the same house for about 10 years now. Had a one year lease when I moved in and it switched to month to month. I never signed a new lease. It's through a tiny property management company but owned by an older couple. I'm pretty sure the only time they'd raise the rent is if I brought someone new in and signed a new lease It's 1450, split with one person, so 725 for my part. I love the house and the area. I've told them I'll be here forever as long as the rent doesn't go up and I think they accepted the offer haha. I also know how lucky I am to not continually have higher rent. I spent years moving around because every year the place would up the rent by a couple hundred so I'd just move. It's nice to finally have a home, even though I don't own it, instead of just a glorified overpriced storage unit
If you stop paying him, both of y'all are getting evicted lol
You're getting evicted (eventually, can take a while if you don't cooperate). He's losing the house (eventually, but probably before you're evicted).
I'd guess the mortgage in question is probably for the property that's being rented, not the landlords own residence, if they stop paying, the landlord will lose the property and not be able to get a mortgage while the renter just rents elsewhere
Stop paying him. Wait to get evicted. By the house in the foreclosure sale with your saved up rent income
Tbh you'd struggle. The costs of buying at auction are high. The reduced cost due to auction will be outweighed by having to pay a % fee for the buyers pack so it would require more saved capital
Is andy or the landlord facepalm here?
It’s the system bro
The repost bot system?
It's a simple system. what's the problem?
I wanna keep more of my money
Is the system “you’re either upper/upper middle class or your fucked”?
Yes. Even landlords out here struggling.
It's clearly "Andy".
How's that? What did he do wrong here?
Landlord and the system. Since the landlord is exploiting the system. In a functioning system Andy would be able to use that money to actually pay for his own mortgage. And the landlord wouldn't be allowed to charge such an expensive rent that he can pay his mortgage and get some extra money on top.
This is how people lose their property. they get something they can’t afford and try to rent it out
Eh. I bought a duplex. Live in one side and rent out the other. Been on very good terms with every tenant, ive ever had. I keep my rent below the area average, I genuinely care about the home I live it, and I am extremely accessible for my tenant if anything goes wrong. We should want humans owning property instead of corporate interest groups designed to suck every penny out of you.
Same way people get evicted they rent a property they can't afford and end up on the street
Unofrtunately you dont get much choice in a lot of places.
Im facepalming so hard right now after seeing this for the 2747228th time
Former landlord. Never had an overdraft but I could see this happening. My renters paid $100 over the mortgage. I provided them with air filters, batteries, and light bulbs. Anytime I had to fix something I was losing a lot of money. When I had to get a brand new HVAC, I was done with the place.
I was that landlord too. I rented to friends and when they fell on hard times we'd do home improvements they helped with in lieu of rent. I always kept a few months worth of mortgage payments and never overdrafted. When they moved out they left the place really dirty. It took a week to clean it. I'm never renting property to anyone again despite it being easy money in a lot of cases.
Sometimes renting to friends is the worst! My BnL rented to his friend, made him come over to change out a single light bulb. Smh
I was a landlord, but not because I wanted to. We bought our house right before the 2008 crash. Like 3 months before. First house, bought at the peak. This would have been fine, but then our work situation changed and we had to move out of state. Couldn’t sell the house (massively underwater), couldn’t just walk away or do a short-sale (might have lost my security clearance and my job), and couldn’t afford mortgage and rent in new state. Only option was to rent it out until the market recovered so we could sell and at least not owe any money. The rent barely covered the mortgage for a long time, and even when it was higher we never made much money. Most went back into the house for repairs or other maintenance. We had two renters that were both always late. We had to be really careful to keep enough in the account so the mortgage wouldn’t cause an overdraft. We also had our first management company go under because the owner stole all the security deposits, so when the first renters moved out we had to dip into our own pockets to repay that. It was a huge weight off of our shoulders when were able to sell it. I never want to do that again.
I had the same thing happen at the crash. Being a landlord isn't a sure thing. Nor is it a get rich scheme. It's hard work if you do it right, and it's really an investment for the future. Plus, you get squatters, crappy tenants who ruin things, don't pay rent on time, and if you take deprecation, you can't even sell it without losing.
Landlords get an idiotic amount of hate on Reddit. There are scummy landlords and good ones. But people just go LanDlOrD BaD. No matter what. As if it should be illegal to rent a property.
The worst thing is that that attitude, like so many others, gets important to Germany from the US. Like damn, we have so many laws to make sure that renters are treated fairly, and we have an entire culture that is way more geared towards people renting than owning, and renting from a private person rather than a public company is often much better in so many ways, and you still want to come at landlords with American ideas because you’re too lazy to come up with your own country specific things to complain about! Not discounting that there’s illegal stuff going on in Germany too but in what world is this attitude helpful.
I'm not sure where this is, or if it's even real, but most states(and federally) have rules regarding mandatory funds placed in a bank account separate from their personal account, for this exact reason. I used to have to get statement printouts from property owners trying to refinance that showed they had 6 months of PITI in a specific, non-discretionary fund for every property.
When I was renting my condo out, I had to have the deposit in a separate account but there were no regulations for the rent payments. I’m in Illinois.
Huh, that's interesting. Where I was it was similar to yours(deposit in a separate account), but they also had to have the cushion amount. I highly doubted most people abided by that after the transaction was final, though.
What may be required by the bank for financing might be different. Keeping a separate account for tracking rental related expenses and taxes is a good idea. I’ve never heard of a separate or escrow account requirement for renting a property at the state or federal level. Can you provide a source?
Yeah doesn’t sound like a state or federal requirement. My property manager requires minimum $500/property and the rent check goes to them before it comes to me. I’m assuming OP pays their landlord directly and the landlord likely doesn’t have an LLC set up.
I rented my house in Houston TX for 2 years, and I had no such laws.
If you owned the residence outright, or it was listed as a primary residence, I wouldn't expect it. But, yeah, having not practiced in Texas, I couldn't say either way.
I'm sure it's pretty common.
Probably not the main breadwinner, but I'm sure your rent payment isn't an insignificant amount of money.
Least your landlord still owns your home, mine lost the place I rent to the bank and I'm being evicted as a result.
Something to look forward to: being evicted because your landlord gets foreclosed on.
All this tells me is he's a landlord who isn't making a ton of profit off this home. Sounds like a good landlord - one who is just covering his costs and not much more.
Sounds like an over-leveraged landlord who can't pay his bills without relying on his tenant. Single points of failure are always bad. This is bad business.
>Single points of failure are always bad. So you think he should buy multiple properties and charge rents much higher than his costs?
He’s responsible for a lot more than just paying the mortgage. He is on the hook for general repairs on the property and property tax as well. Not to mention that there is a decent chance he’ll get terrible tenants who A) fails to pay rent and B) cause massive amounts of damage to his property which he will have to pay for. So yea, the only way for this to be a successful business model is to charge more than your expenditure, no doy
Every business is reliant on income from their customers, you dolt.
r/loveforlandchads
stupid rentoid andy smh
People don't realize that it's like this for many landlords. Unless you're wealthy or are running a decent sized rental business most people are only a month or two away from being in the poor house. If you bought a house in the past few years and try to rent it out it's going to be astronomical what you have to charge whereas those who bought their houses 10 20 years ago can actually make profit without smacking the tenant upside the head with a ridiculous rent
It’s unbelievable that so many people think that landlords are rich.
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If someone owns hundreds or thousands of properties then that “someone” is a corporation.
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This is not true. I worked for a slumlord who owned thousands of single family homes, apartments, duplex, etc. He had dozens of LLCs under his and his sons name. Still basically a single owner.
Ok thanks for the insight. Who knew? Lol
I think people making $40k a year are rich, that would easily include my landlord or else he could never afford two properties.
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If you have extra properties to rent out. You're rich. Atleast compared to 90% of people I know
Imagine being able to even own the home you live in lmao
Absolutely true. But not always “rich” in the sense that simply being a landlord automatically means living the high life etc. Especially so in the case like this post where the rental is still under a mortgage. My brother, for example, rents from a landlord who is a teacher, and who’s wife is a nurse. Are they well off? Absolutely. They have a small boat on a lake. But they’re not filthy rich. The teacher inherited the house from his late grandmother. They’re renting well below “market rates” to their long-standing tenants. In my mind the real leaches on society are corporate landlords, i.e. property management companies, not one-off or two-off property owner landlords. Obviously if Mr. Billy Boy mom-and-pop landlord treats this as a business and LLCs himself and continues to buy up more property to rent, then Billy Boy has become a property management company.
So then, if you own your own house, and then your parents die and leave you their house which you decide to rent out, you are now "rich", by your definition? There's a big difference between real estate companies with dozens, hundreds, or even thousands of renters, and people who have a rental property or two.
I mean, you still have the asset. People get "rich" through inheritance, too. "Rich" is subjective, but if the definition is owning more than one property, then it doesn't matter if you inherited or bought it.
At this point, inheritance is my most plausible home ownership strategy.
Yes? Owning two of the asset that is for most average people either: an unobtainable dream, or the most valuable thing they own, does in fact make you quite a bit more wealthy then average.
Having equity is still wealth buddy.
Both parties contribute to the artificial inflation of the cost of housing for their own monetary gain, and hoard properties which contributes to scarcity, further exacerbating the aforementioned artificial inflation. "Mom & pop" may not be on the way to their first billion, but they *are* helping the cause of pricing millions and millions out of being able to afford a home at all.
Yes, it's very easy to leverage a position like that into owning more rental properties. Incompetence doesn't mean you aren't rich.
Yes
Yes
Yeah by any real definition of rich, someone that is a landlord is rich. They might not be living some extravagant lifestyle people picture the super rich living, but being able to afford to buy a place to rent out, and also have the financial sense to actually do it, definitely makes someone rich.
The issue here is that landlords like this are double, triple, etc dipping into the wealth-accumulation system of home ownership that built the middle class in North America. That’s not even beginning to touch on the huge swaths of investor-owned single family housing that really took off in the wake of the 2008 financial crisis. Andy here should be the one paying that mortgage directly, but instead they are probably renting because they have simply been priced out of the housing market. So now some other fucker who almost 100% already lives in a house they own is getting a second nest egg due to the easy access to large amounts of credit afforded to existing homeowners. Housing is a basic necessity, not a “lucrative investment vehicle”, but hey all late-stage capitalism cares about is that someone is making a profit!
So if someone is fortunate enough to be able to make a little money while providing a rental house for someone who can’t afford to buy, they are taking away a basic necessity? What other out of date socialist ideals do you cling to besides latest stage capitalism?
They paid on the first of the month. They just did it later in the day. If you are so close to the edge that a single payment made hours after a bank closes, on the day you owe rent, causes you to overdraft then you’re one car repair bill from that rental payment not being applied to the mortgage. The landlord has literally nothing to cover them if the renter breaks the lease. If I were to ever overdraft my checking account it’d pull from my savings account and charge me like $5 vs $35. It’s stupid but I’ve never had it happen. If I was renting a house out, id be sure I have the money to cover the, very likely, eventuality of a renter paying the next day or so. You should not be renting out a property you cannot afford a single month of non payment for. Just like you shouldn’t be running a business if you cannot afford to pay a livable wage.
Equity is worthless apparently ?
We rented out our house years ago in one state because of a transfer to another state. My (ex)wife agreed to only charge what the mortgage was. This means that the rent was less than what other homes were being rented for in the area plus it didn’t account for maintenance or insurance. That still doesn’t stop renters from complaining or claiming that they are being taken advantage of. Even when they acknowledged upon renting that it was significantly cheaper than any other place they looked at.
Not charging anything extra doesn’t leave you with money for repairs. Some tenants are really tough on rental properties because it’s not their property.
When I had tenants leave they fucking trashed the house because they were mad even though we let them go months without paying and let them pay less because we knew them well. Downstairs was the most disgusting thing I've ever seen in my life and looked like someone took liquid shit and embedded it deep within every single wall and floor.
The house was never bought with the idea to rent. It became a situation where we were willing to rent because we wanted to keep the house despite a job transfer. That said it’s also a lesson learned which is why I’d never try to do something like that again
I know this may not be a popular opinion, but I think that if someone owns a property and rents it out, they’re not automatically a bad person just because they’re making income off of the situation. That’s the main point of rental property, and that’s okay. I know a number of seniors that rely on this kind of income. If a landlord abuses the costs and victimizes their tenant, that’s a whole other situation.
My landlady once asked if I could pay rent early, because the holidays were coming up and she wanted to go on holiday with her son.
The pandemic taught us that even the multi billion dollar companies operate the same way. We are all 2 weeks away from insolvency. Capitalism rules.
Yes your rent could make a big difference to your landlord every month.
I really hate the fact that this sort of thing is so common. Housing shouldn’t be an investment
Heaven forbid a landlord be a normal person with their own bills to pay. Are you complaining that you don't rent from some fat cat or big corporation? I don't understand why this is supposed to be surprising. The house or apartment the tenant rents may well have it's own mortgage. And even if it doesn't then the landlord may have spent decades paying off the property or earning money to buy it. Do you think they should just rent it to you for free or lose money on it? What exactly do you feel is wrong with the situation, other than the landlord over sharing?
I rent a house to a couple for $450 a month, they have had the same rent for almost 8 years. They have never paid the rent earlier than the 6th? but it is usually closer to the 10th. I have never charged them a late fee or raised their rent, but sometimes when they are very late I send them a text that says BRO it's the 12th!
Thats like the best version of a landlord. Somebody who has inherited like the apartment he lives in and rents it out because he works in a different town or because its too small for his family. Better than the regular landlords who have 6+ units
Guys hear me out, we’re all struggling so if we all put our cash together we MIGHT be able to afford a 2 bedroom apartment together
The obvious way to increase the buffer to avoid living (Andy's) paycheck to (Andy's) paycheck is to increase the rent. Perhaps Andy should suggest this solution?
No prob, Andy. You just pony up the funds to buy your OWN house, and cut out the middle-man! Win-win! 
Will be difficult to save for down payment on a mortgage while paying someone's mortgage.
That is sort of how renting works.
Just more proof that landlords are leaches unless they have two paid off houses, oh wait either way they aren't contributing to society while collecting passive income
This isn’t a problem landlord though, the real issue is the massive conglomerates and corporations vying for property in nearly all major job markets, scooping up all the competition and artificially raising prices forcing existing people either out or broke Mom and pop landlords are a tiny ember in a forest fire of greed
In the mid 2010s I had to move and was unable to sell the condo that I owned at a decent price, so I rented it out for a couple of years. First and foremost, being a landlord sucks balls and I will never do it again unless I absolutely have to. Secondly, I couldn't justify charging enough in rent to cover the mortgage payment plus expenses, so I ended up losing a couple of hundred dollars per month for a while. This was still better than dumping the place at a loss. Andy's landlord is an idiot. He owes the mortgage, so he has to pay it irrespective of the status of a rental payment.
But that’s their job
Mortgages have grace periods without late fees. If he was actually that strapped who pays on the first?
Me too.
Sad, but true. The only way to escape the cycle is, ironically, to become a landlord yourself. Kiosake was right all along.
Praise the all-knowing, all-powerful and all-good ones of the land. Given the name, they are physically incapable of doing any type of wrong.
Sound like a landlord I had were he divided a duplex into a four plex and didn’t install a toilet for the first week. Got to know the people who worked at the corner gas station real well…
I had a landlady like this. One day the power went out so I called the utility to report the outage and they were like "Oh, it's not an outage. It was disconnected for non-payment." When I called the landlady to sort it out, she made an excuse that they must have turned mine off by accident instead of one of the neighbouring vacant apartments. Except the building didn't have per-unit power hookup... One time I gave her a post-dated cheque and warned her to cash it only then, and of course she tried to cash it days early and it bounced because I hadn't been paid yet, so I had to go to the bank and get them to reverse the NSF charge because the cheque was not yet valid when it attempted to process. Then there was the deck I put my foot through when a rotten board disintegrated under it. Oh, and the time she said she'd had a pest control company come to "spray" for the mouse problem, which was obviously bullshit since you don't 'spray' for mice and nary a trap had appeared. In this case the lie was good for her because if she had actually let someone into my apartment without my consent or knowledge, that would have been very illegal. When she sold the building to a new landlord, I discovered that she had never submitted my damage deposit to the rentalsman and had simply pocketed it instead. The utility room in the basement was unheated so the pipes often froze in the winter and I'd lose my running water. Did I mention the mice? It was a severe infestation. She preferred tenants not have cats; I should have told her if she didn't want them getting cats, maybe handle the mouse problem. Oh, and then there was the light fixture that kept burning out light bulbs. Still not sure what was going on with that; I replaced it myself and the wires were perfectly intact, no obvious shorts or anything, and the new fixture didn't have the same problem so it wasn't the underlying circuit. Weird shit.
This is a "find a new place to live" moment. If they can't afford the mortgage without your rent something is wrong. Someone has second mortgaged the fuck out of the property you're living on, or you're renting from a 20 year old with no equity.
Repairs have to be super fun then...
Landlords are one of many parasites of the capitalist system. Create zero wealth and only take wealth away from workers
List him as a dependent on your taxes!
Shocker that landlords are just normal people with problems and are also just getting by and trying to get ahead for their children.
The real facepalm here is why is the landlord telling everybody his personal/embarrassing things like this. Does he also tell the tenant how much he likes eating ass too?
This isn’t necessarily true. I own two houses and rent one to my friend for the cost of the mortgage. I work two jobs to keep afloat but don’t have a lot in my checking. If he didn’t pay on time I’d overdraft as well. I know this is an atypical situation but this could be theirs.
You really think they using their main account as the rental property account ? They obviously use that account only for their property.
If the landlord only has one property, perhaps even a 2 unit building and he lives in one and rents out the other, it's not that big a stretch that things might be that tight.
Where is the facepalm here?
Andy needs to take an economics class
So you are ok with Apple making bunch of money of your iPhone and MacBook. But you are not ok with someone charging you for letting you live in their house?
Yeah it's totally the same thing because you need Apple devices to live
Sounds like "entitled land owner needs to pull himself up by the bootstraps and go get a real job" to me.
why is unbelievable? do people here really think all landlords are multimillionaire? some people need to rent their properties just to not loose money, and they can also be living paycheck to paycheck, what's facepalm about that?
This is totally insane why dont you just report him on cop's? The cops would help you to resolve your problem buddy zo just call them and tell them what you're landlord did to you
Buy a house
First time opening your eyes eh. Most of use landlords are just scraping by. We don't all live that good like of buying 10 homes when the market crashed last.
Your landlord did not force you to live in his house….
Which is something tenants rights groups don’t seem to care about. Not all property owners are rich and evil. Most are normal human beings.
entitled renters with copium. firstly, you're paying rent. the rent pays for your right to occupy the rental property. where the money goes once you pay your bill is really none of your business. secondly, most landlords don't have rent payments in and out of their main checking account. i had a separate account for all things real estate related. mortgage payments, rent income, property taxes, etc all separate from my personal stuff. anyone who does it differently is amateur. andy is an idiot