All over the United States, rental properties are way above reasonable. It’s cheaper to buy a house than it is to rent in most markets. Why are people letting landlords and rental companies do this to them? Why don’t you get your whole community together and protest against the rising cost of rental units? Do you all enjoy struggling and being ripped off monthly?
Dan B
I own my own home; I would never consider being a LL. It makes no difference if you rent or buy a home. Unless you own your home outright, you'll be paying all the bills related to that rental unit; the mortgage, interest on that mortgage, property taxes (which are higher for rentals vs owner/occupied units), insurance, mainentance and repairs, in some cases trash, water and electric serices. There's a profit motive in being a LL. But that profit has to be banked to cover major repairs that may not be covered by insurance; it's not all pocket money. The maintenance and repairs are spread out over the year's time frame. It's not true that buying a home is cheaper. A homeowner has little control over who lives next door. A renter can move out within a year if their neighbors are obnoxious.
tiescore
I know a guy had to give up his full time job because he was always in court because of his 8 multi family rental properties. Price is set by supply and demand, if you think it is so high you should become a landlord... you'll probably start singing a different tune. I know I want nothing to do with rental properties, they sound like a pain to manage.
Christin K
Owning a home is FAR more expensive than simply the monthly payment. A renter has no maintenance, taxes, insurance or repair fees. A homeowner has all of those, and it adds to the monthly bills. Additionally, most homeowners pay for things a lot of renters don't, such as trash pickup, or water bills, plus their utility costs are usually higher overall.
I agree that prices are out of control, but protesting against higher rents are not going to work. Landlords will charge what the market can bear--always. If the economy tanked, and they could not get renters, they would probably lower costs somewhat. But that hasn't happened.
Additionally, there are a growing number of renters who are trying to get away with not paying rent because of the 'no evictions' ruling in many places. This has driven landlords' costs up. And it's also made it impossible for them to pay THEIR bills--so that is going to fuel the higher-rent trend.
No one enjoys struggling. But the problem does not have just a simple 'lower your rent' solution.
?
What good would that do?
Anonymous
You can always buy your own house.