06-20-2024, 07:31 PM
I saw somewhere (can't find it now for the life of me) someone who pointed out that one of the big reasons rents are going up is that insurance rates are through the roof and landlords are charging standard (what it takes to pay the mortgage plus a profit) and adding the insurance into that, along with a buffer for repairs.
We ended up (through a complicated system) with a house to rent. We're renting it to people we know, giving credit for the repairs and upgrades they're doing (trust me... these guys are good and are saving us a BUNCH of money) and I am pretty sure I can hold the rent at this amount for the duration of the 4 year lease. After then, if our tenants move, I'm waffling on whether it would be good to rent it to someone else we know or to sell it outright.
If we can keep it as a rental, we can offer friends or friends-of-friends a very low rent price that will allow them to build up a buffer income for themselves. I'd like that, but also recognize that it may not be possible for us to do that.
Long story to say "it's probably more than greedy conglomerates" -- it seems to be a complicated issue.
We ended up (through a complicated system) with a house to rent. We're renting it to people we know, giving credit for the repairs and upgrades they're doing (trust me... these guys are good and are saving us a BUNCH of money) and I am pretty sure I can hold the rent at this amount for the duration of the 4 year lease. After then, if our tenants move, I'm waffling on whether it would be good to rent it to someone else we know or to sell it outright.
If we can keep it as a rental, we can offer friends or friends-of-friends a very low rent price that will allow them to build up a buffer income for themselves. I'd like that, but also recognize that it may not be possible for us to do that.
Long story to say "it's probably more than greedy conglomerates" -- it seems to be a complicated issue.
