High Rent Prices

[Bocephus123]

Those are Rookie numbers
https://seattle.craigslist.org/see/apa/7555552072.html
I certainly do not miss renting, express I ally apartment living. A 2br apartment in not the best neighborhood was $2000 in Seattle a decade ago. Had my.deposit taken and fees added despite.having it professionally cleaned. I once had a land lord that attempted to charge me because "it needs a new roof."

Not surprised

 

[Pstmstr]

If you have decent credit and income why would you rent?

 

[rickm]

I was paying $550 for a 3bd 1 bath brick house and it went up to $600 last year.

 

[Shottyshooter90]

its tempting but don't you'll be remodeling everytime someone moves!

Just have to be selective, my parents have several rentals and part of their application process includes that the prospective renters must submit to a background check at their own expense to be considered. Sure this isn't a pure indication on whether they'll destroy the place or not, however it does weed out a lot of scum. In the last 10 years since they've been doing this they've only had 2 events which would be beyond the normal wear and tear on a house.

 

[Bocephus123]

Just have to be selective, my parents have several rentals and part of their application process includes that the prospective renters must submit to a background check at their own expense to be considered. Sure this isn't a pure indication on whether they'll destroy the place or not, however it does weed out a lot of scum. In the last 10 years since they've been doing this they've only had 2 events which would be beyond the normal wear and tear on a house.

True the place im in I have 3 1/2 pages of repairs minor but I could have called on every one. Been here about 3 years only time I call is for major repair and haven’t needed that yet

 

[PanhandleGlocker]

If you have decent credit and income why would you rent?

Some people feel like a mortgage ties them down to a specific place or town. Some people also just like not having the responsibility or cost of needing to fix things since it’s not their house or apartment.

I bought my first house at 20 years old because the rent for an identical house was double what my mortgage would be.

Sold that one and bought my second house 3 years later with a 15year fixed rate mortgage. The house next door is a rental property and identical sized house to mine, outdated though I might add, and they’re paying I think $400 more than what my mortgage is.

 

[Pstmstr]

I was paying $550 for a 3bd 1 bath brick house and it went up to $600 last year.

I’ve seen your place. The landlord is doing you a favor. They could easily get $1200 for it. Prices are starting to stabilize in the rental and sales market though. Several large companies came in and bought a bunch of houses. Msrenewal.com is one. They have reduced prices and increased real estate commission in the last month due to a large unrented inventory.

 

[Pstmstr]

Some people feel like a mortgage ties them down to a specific place or town. Some people also just like not having the responsibility or cost of needing to fix things since it’s not their house or apartment.

I bought my first house at 20 years old because the rent for an identical house was double what my mortgage would be.

Sold that one and bought my second house 3 years later with a 15year fixed rate mortgage. The house next door is a rental property and identical sized house to mine, outdated though I might add, and they’re paying I think $400 more than what my mortgage is.

Yep, some people don’t for those reasons. It’s like a payday loan company in some aspects. MANY people in OK have poor credit, income less than 3 times the rent, or poor rental history. It’s getting harder to get people qualified to rent a home, never mind buy one. My brother is a prime example. Spends most of his money at the casino and bitches about his rent going up.

 

[TinkerTanker]

On inquiring as to whether we were going to rent our old house or sell..... we were quoted ~$1 a sq ft for rent. This was Broken Arrow. I'm going to sell it, but the rent prices now make it tempting.

If you sell it and could afford to rent it instead, I'll just say you're losing money. You make much more than a rent check when you have a rental house.

The reason rental prices are going up are many, but the main ones are ONE BILLION DOLLAR SCHOOL BONDS (HOLY SHEEP BATMAN), Taxes, and Insurance. Renters vote for every school bond and city bond (Maps 4?) then wonder why rent is on the rise.

Build Back Better my hairy sack.

 

[HillsideDesolate]

Renters vote for every school bond and city bond (Maps 4?) then wonder why rent is on the rise.

I can't count the times I have had people tell me, "I always vote for property tax increases, it doesn't effect me because I rent."

Also sheds some light on why large property management companies are.given government blessing to turn this countries housing supply into rental properties.

In Seattle a company would build a 100+ unit building make 5% of the units "low income" defined as 75% of median income. Rent these units for 75% of normal rent and in return have ZERO property tax.