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Re: Best Way Increase the Monthly Rental payment?
by Garry (Iowa)
on September 16, 2017 @09:41
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Yes, you ARE greedy. You have scanned the internet, and seen similar homes rent for much more. But, have you actually gone INTO those homes to see how similar they REALLY are to yours? And are they all within, say, 2 square miles of your home, meaning in the same area as yours? It's unfortunate that you are in a rent-controlled area, but that's the way it is. Your "research" should have been done 5 years ago, and priced at the fair market rent THEN. Are you really asking this forum to try to come up with a way AROUND your state's laws? That's not what this forum is about.
I know you would like to raise your rent by 20-25%, but think about it. Could YOU absorb that much increase on the mortgage on YOUR home, without possibly deciding to move? Remember, a 5 year tenant in today's world is usually considered a LONG-TERM T. Where you may be losing money as far as current rental rates go, you have at least broke even, by not having any vacancies, and the costs associated with them. Just keep doing your 5% per year increases, and be thankful you have such GOOD tenants in your home.
I don't know your state's exact rent control laws, but I'm guessing you would have to ask your GOOD tenants to move, and once vacated, you could ask for your new $5,000 rent amount. The question is, could you find another GOOD tenant, within a short amount of time? Money is not always "made" by cash flow. Appreciation of the value of a place, and having good, long-term tenants (no vacancies) also factor in.
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Re: Best Way Increase the Monthly Rental payment?
by Anonymous
on September 17, 2017 @07:50
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What a condescending little man you are! You cannot even reply without capitalizing words (really shouting) with your post. The poster did not ask a question just so you could mouth off with your usual bull. The Op just wanted an answer to their question and not a damn sermon from you! If you cannot reply in a civilized manner, perhaps you should run what you post by Dorthy before hitting submit?
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Re: What we are are thinking!
by Anonymous
on September 18, 2017 @07:48
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Do you know that capitalizing words in your sentences is the same as yelling on the internet? Are you just some drunk ass who truly believes he is impervious to common courtesy toward other landlords or individuals who seek help on this forum? You must think its okay to chastise those who just may not know better or just lack the skills to be a landlord. It's clear that you yourself lack people skills and are ignorant on landlord tenant issues. God help those who trust your bad information! Amazingly, you have failed to learn that you do not know anything about other states and yet, you conceive to post wrong information or just plain crap in your reply's. Those of us who are real landlords, with knowledge and skills to properly deal with issues, cringe when we read your misinformation and your condescending attitude. When it comes down to it, you are just a low income property owner who pretends to know stuff about being a landlord! Even when you are confronted with the right information, you try so hard to spin it to make yourself correct. Do everyone a favor and just stick to your own state and leave out your condescending tripe and those topics you have correct information about!
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