I'm raising my tenants rent next year because of crazy property taxes. They targeted my house because I have a rental license on it. Who did they think the property taxes were going to? The person living on the property!
@peterseth3296 if the LLs are not paying, what's the fee for? How much do you think these employees need to be paid in comparison to the amount they collect from all the LLs?
@@sp-cn8pm These cities want the inspectors to bring in more than their salaries in fines. That is the reason for hiring these inspectors. They also cost the landlords in unnecessary repairs, the cost of which is passed on to the tenant as it should be. Providing housing is not a charity and landlords are in business to make a profit and increases in costs need to be borne by the tenants that are benefiting from living there.
im a home builder and landlord. i want to offer cheap houses but cant find any employees that arent greedy that are willing to work for free building them.
As a landlady and property owner over many years, the ignorance of tenants about property ownership is appalling. They don't have and don't WANT to have any information about ownership taxes, ownership insurance, ownership property repairs, lost income, lost rent, empty units or anything else. They will tell you, "Well, that is your problem." Somehow they just expect the landlord to absorb all the costs for a rental, while they can live there without the rent ever going up year after year. It's not realistic. That said, there are greedy landlords, and they will get as much money as they can from their rentals. It becomes a bit of a moral question at some point. Not to be confused with a lawful question. Landlords don't "owe" anyone a low rent apartment. They can keep rent low to help the renter out if they are on disability or Social Security, etc. But the onus is not on us to pick up the pieces in an inflated economy so people can afford to live. We have to live too, and we all have to pay the ridiculous prices that renters do. People don't buy property so they can hand hold poor tenants. We are not a charity.
I disagree. Tenants know all about the high costs of home ownership. That's why they rent and then vote for politicians that are willing to shift those high costs away from themselves and onto landlords, taxpayers, or even other tenants.
@@davidsine4390 I agree with your premise, but I honestly don't think many tenants who've never owned their own properties understand how expensive it is to maintain a property. Even a private home. I bought a 60 year old house quite a few years ago and over 10 years I was putting an average of $10,000 per year just into maintenance and upkeep - things like replacing the HVAC, water heater, having it resided, the driveway replaced, painting, new flooring, stuff like that - and then having to call the plumber when there's a leak, the drains are clogged, washer stops working, etc. - on top of normal bills, utilities, taxes and my mortgage. I think many of them equate owning property to just the mortgage and that's it, and see rent as eqivalent to paying the mortgage. It's really expensive to own property and keep it in acceptable condition, and I think that is completely lost on a lot of people who have never done it before.
@@MrStv1163 I have never had a tenant that believed owning a house was cheep (if they owned it). Usually the down payment alone stops the train in it's tracks for them. Every tenant I have dealt were all well aware that the costs of home ownership would be too expensive for them. Not trying to imply they all admitted it. Of course agreeing with owners that housing is expensive doesn't fit most tenants narrative that all landlords are rich greedy slumlords.
So this person doesn't make enough money to live in the area she wants too...... so pack up the base minimum, and move to a more affordable area...It won't be as nice, it may not be as safe, but that is reality.
@@ryanroberts1104 what's more affordable that centralia, OK? Its pretty obvious what this person thinks they can afford as their $800 refrain comes pretty early. I bet though there is SOMETHING in a standalone apt out there for $800 in OK. Even in my major west coast city double that budget with a roommate and she would be able to find something respectable.
Or traffic arms, conflict diamonds, or narcotics (just kidding). Seriously, there’s no shame in living with parents, the economy blows but the landlord shouldn’t have to rent out for cheap because a tenant can’t afford to rent and feels like living with their parents cramps their style.
If we were in the business of renting tools or machinery, we would be helping the community. If we rented out medical equipment, we would be heros. But if we rent out houses, we are greedy. Go figure.
Its amazing how these people say nothing about the government constantly raising taxes, insurance going up, food prices going up, interest rates going up, the prices of everything going up. And like you said, what is she doing to increase her income going forward.
Interest rates are up, taxes are up, energy costs are up, etc.- inflation is up. Inflation doesn't just affect tennants, hits landlords too. Taxes, utilities & repairs are all pass through costs if the market will support it.
Will do with higher interest rates to force all prices to crash. Remember the fed wants a 2% inflation rate, which means all business will need to be ready to make no more than 2% profits increase
So many tenants don't have a clue what housing costs. The taxes, the insurance, the costs to repair, with labor and materials at all time highs. People in general are dumb. They just like to open their big mouths, and crap comes out. There is no such thing as "affordable housing".
Ignorance is too often a "safe space" for people who simply have NO interest in what is going on in life, or the issues that affect all of us. It is about them, their friends and family, and that is where it ends. It's like an encapsulated intellect.
"LALA LALALALALA I'm not listening!" - actual quote from a onetime boss when I tried to confront them about their toxic "leadership" strategies. A full grown adult a bit older than me.
@@madderscience There are many who are LALALA'ing their way through life and these are the ones who will run you over in a grocery store, lean on their horn if you don't floor it the second the light changes, call you every day trying to sell you something, burn their trash and smoke up the entire neighborhood every few days, let their dogs bark non-stop, wait for someone else to clean up the street/sidewalks after a bad storm, shut the door in your face going into a store ahead of you, and buy a brand new car in spite of the fact they are getting food stamps and go to the food pantry every week. The last thing most of them care about is anyone else.
As a landlord of 7 years I eat a lot of costs to maintain my property and costs to repair damages the tenants has done!!!, I've learned screen, screen, screen!!!, even at that there can be surprises. This person who wrote the letter is not someone I would ever want in my property, my guess is they demand outrageous things of the landlord and don't take care of the property!!!
What's so funny about this, I had a very relatable experience less than a decade ago, when I sold my first property well before the global event. Most of my portfolio is not rent, but the gains from seller-finance. The first property I sold was for 611 a month, the family who got it were intiially renting from me for 600. So now they would become property owners for a difference of just 11. They leapt at the deal. About a year later, they weren't as excited. Because they're now responsible for property taxes as well as insurance. That's because I'm not the property owner any more, they are. And as property owners, they are now responsible for the taxes and insurance, and according to our agreement, if they fail to take care of those two obligations, I'll take care of it for them, and they must reimburse me, if they fail to do so, I can foreclose, and keep the 18 they gave as DP at the beginning and everything given since then. They've still got more than 20 years to go. Also, since they're now the owners, and not me, they are the ones responsible for maintenance and repairs. Reason I bring this up is because now, all the houses I recondition, I use PEX-A for plumbing. But back then, I was really on a budget, and with no tools and no skills, I did the plumbing in that house with CPVC. CPVC is great in that it requires no skill, and for tools I just needed a hack saw and a can of primer and glue. The downside is that CPVC gets really brittle after about 15 years, and can easily break and flood the house. After seeing CPVC break from just turning on a faucet, I made the switch to PEX-A. I didn't know how bad CPVC was at t the time, and I'd done several houses that way, including that one. Even with its faults, CPVC is still permissible under UPC and IPC plumbing codes to this day.
I did seller financing once but never again. Buyer was an absolute moron, refused to pay on time thinking I could do nothing - I just ended the loan when I got tired of him. He got a letter that says I need over $150k in full within 30 days or I keep everything he paid so far and he goes. He chose the latter option. I wish I could have seen his face when he opened that letter. He even tried to sue me, 3 different lawyers contacted me, and then fired him because he had no case.
@@ryanroberts1104, I've got a funny story behind what got me into seller financing, actually it's how I got into being a landlord. I'll try to make it short, many of my comments tend to go on and on... Very first property I got was from a tax foreclosure. Guy that owned it was a veteran with service connected disabilities. In Texas, that made him tax exempt on his primary residence (homestead). It was like that for years until he died, and his exemption died with him. His family stayed on the property, but after years of no taxes, they thought they didn't have taxes either... they were wrong and after 6 years of unpaid taxes, it went to auction where I got it. I waited until the redemption period expired and then had them evicted. What was odd was that after 6 years, the taxes due was just over 100 bucks. That was because according to the tax assessor, it's just an empty lot, no building. When I checked, the rest of the block was the same way, on both sides of the street. Every lot is listed as undeveloped land. There are records of the homes, mine was built in 1944, there are records of the permits, but at the assessors, each one (6 in total) was listed as undeveloped land. I ended up getting a second house elsewhere, which was actually pretty nice, 3 bd and 2 bth, garage, paved drive way, half decent neighborhood... but at the same time I had my eye on another house right across the street from my first one. It was owned and occupied by a family... but the house was in serious disrepair. They had no power, no water, they had a pickup truck and had to truck in water every day. There's no limit to security deposit in Texas, so I made a deal with them, that first house, it would be 600 a month with an additional 300 security deposit, so 900 total, for 24 months, then I would see about selling them a different house, the second one I got. After 2 years, they amassed about 7k in security, plus traded-in the run down one they had before, plus some additional to amount to a DP of 18k, putting them at 611 a month for 30 years... So I'm still collecting on the house they got, plus I got a second house that has almost no tax. It took significant repairs, but now I have two houses whose annual property taxes are less than 60 COMBINED. I'll never get rid of those two houses, they're rent only. So for the family, they love their new house, but did receive a bit of sticker shock when they realized they were now responsible for taxes, insurance, plus any maintenance and repairs they want. All in all, I think it was a win for everyone.
So sick of these whiny babies. They need to ask themselves WHY they don't own their own home. If the answer is that homes are expensive, then obviously landlords paid a LOT for those homes. With insurance rates through the roof (mine just tripled) and escalating property taxes, rent is not going to be cheap. That doesn't include the cost of building materials and labor for repairs. A low efficiency furnace that I installed at $2,800 a few years ago in one place just cost me $7,200 in another property. The SAME furnace make and model. That cost is going to be reflected in the rent. It's business. Only point of disagreement... your candidate was NOT better for the economy. Just wait until the 20% across the board tariffs go into effect. Prices will skyrocket.
@@georgewagner7787 No offence, but do you have any idea how tariffs work? The cost is paid by American companies who purchase the goods from other countries. They will still buy them, but guess who is going to pay the tariffs? They are going to pass the cost along to the consumer. CEO's of Walmart and Lowes have already warned us to expect higher prices in 2025 due to the tariffs. So if you voted red due to "inflation", congrats, you just played yourself. Consider yourself now a member of the "I never thought the leopard would eat MY face" club.
too many people are uneducated, delusional and out of touch with reality. no one knows what stuff costs. its like they watching price is right reruns from 1972.
Growing up and living with my parents, they were always renting, it was a different world. The relationship between landlords and tenants was far different. Today, renters demand everything in balk at suggestions. I started out living out of my vehicle, going to school part time and working part time. Now? I own two homes on one lot, renting out one of them. Yes, they demand the sky!
People tell me I charge too much for my five rentals. Being a pro builder myself I worked and saved 30k. I then built a studio unit to rent out. I deserve to charge reasonable rates. Those times when I worked long hours 7days a week the tenant sat around smoking pot and drinking beer. I did that five times and now I get five checks. I resent dumb people that think they should be able to rent them cheep rates just because I don’t owe anything on them any I’ll do another one this spring.
its a well known attribute of the rental industry that landlords don't make much cash until that loan is paid off or refinanced after many years of ownership. Its why only long term planners and savers end up being landlords.
Why do tenants expect landlords to subsidize them? If a tenant is working as an employee, are they willing to subsidize their employer by working for less than another employer is willing to pay them? Of course not. So does that make them all greedy employees because they all want every penny they can get? Of couse they will say that's different somehow. Why? Because it requires a tenant to think about something other than themselves. Empathy. A concept that's completely lost on people these days.
You are making the same mistakes over and over again. You cannot be subsidizing anyone since that is a government action. Stop throwing out misused English. Makes me sick to here this garbage over and over again.
Tax, insurance plus maintenance is SO expensive, plus the cost of a mortgage if the property is financed. If those governmental agencies plus all maintenance costs go down, we will reduce rent
You choose to overpay for property and results in higher taxes, higher insurance and also higher maintenance cost because you do not get proper testing and inspection. That is all on you.
@@arribaficationwineho32 I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M whent it's last tax base was $1.15M. And once bought the taxes we're set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
As a landlord I say to the person who wrote the letter and those who think’s like him, please do your research before talking about something you are not well versed on. Thanks 🙏🏾 for this video I couldn’t have said it better ❤️
Tony, been watching you for a couple years. I so appreciate your lack of filter: "That tenant is a moron". I was thinking about a topic, I'm sure you can answer me. Why is it that the Section 8 processing/tracking/submissions/etc responsibilities fall to the landlord? Why are you even involved? Why don't they have that approval in place at time of rental? In my mind, if that person needs assistance, they should go get it, they also should receive the funds themselves, then like all other normal people, pay the rent. I can say with conviction, I would not consider being a landlord in today's enviornment. When I was a young mother I had to live in apartments all over the US as I was in the Navy. I remember tenants trashing their units for no reason, flushing spoiled food down the toilet/kids flushing toys, punching holes in the walls, inflicting maximum damage possible, then have the landlord deal with the aftermath. OH, and expect thier security deposit refunded as that was just normal wear and tear in their minds. Not uncommon for these individuals to allow the comode to overflow-just pour out everywhere and not even attempt to cut the water line, mop and clean up the human waste laying on the floor after the repair NO ...just leave it there and complain that the landlord didn't do his job.... guess what was outside the bathroom. You got it, carpet. High rents? Greedy landlords? Honestly, these are people that have lived a life of victimhood, hand outs, and irresponsibility, they will never change. I guess they have to live somewhere, but if I owned the building, I'd let that unit go empty till I found a reasonable renter. Tony, keep on fighting the good fight!!!
Instead of making babies at 15, get out of high school with your diploma, get into a secondary school that will teach you a trade you can live off of. No History majors, no philosophy majors, no theater arts, no literature majors. Get your behind into some schooling that will teach you a skill set that you can live off of. Quit living at age 20 like you've been making a living wage for 20 years. Quit with the nails, the coffee drinks, the fancy shoes and purses etc..........
Actually, the US is heading to a population decline in the next 10 years. People are willing to sterilize themselves to never have kids. So this was a foolish thing to write.
@@stevengoldstein114It's yes and no but the only people that are procreating at this point in time is the poor not your educated and well off population
@enhancedutility266 they are forced to have kids, they should be given free birth control, and with abortion being banned and trying to ban contraception, it is literally out of the poor control.
If this tenant cant even afford rent then how do they figure to become a home owner? This person is unhappy about having to live with mommy and daddy and are looking for someone to blame...loser
@@mapleaf6672 There is some truth to this. I've bought a couple of buildings in my investing career and looked at others that were borderline or into slum territory. And with some notable exceptions many of the tenants acted about at the same level as the quality of building and management. The tyranny of low expectations I guess. I walked away from the worst of those buildings but I did buy a couple which became turnaround projects, one still ongoing (but far and away better than it was at purchase, now a respectable place to live) Some people living in these conditions stop caring or contribuiting much themselves and end up with dirty apartments and excess junk piled inside or outside or in storage. Unauthorized pets run amok if management doesn't intervent and common areas become reeking, unsanitary minefields. People start smoking where they shoudlnt. Yet people hang on because often the rents are also very low. Eventually though the only people willing to move in are the ones that cause more trouble than they are worth and things really start to nosedive. That said I've found that as new ownership with engaged management when I came into these places and (gently at first) started enforcing rules and cleaning and fixing things about 70% of tenants have been appreciative and supportive of it - EVEN WHEN it came with increasing rents. Another 20% went along with it for a while but preferred the prior circumstances for whatever reason and eventually move out. The last 10% are the ones that were taking advantage of the circumstances and subtly or not so subtly push back. I never got to E-word with any of that 10% eventually convincing them their best option was moving if they weren't going to cooperate but I got close to filing one time. A tenant the prior LL had allowed to move in had 3 husky dogs and a smoking and drug habit and a habit of subtly threatening my life and limb. I knew it was hot air so tried to work with them to cleanup after their dogs and be decent neighbors but they responded with lawsuit threats and other drama that was not necessary but was clearly intended to try and derail the real issues from being addressed. It took about 18 months but they eventually gave up and realized they weren't going to win and moved. (for the record they were paying rent however thats why they got as many olive branches as they did)
Taxes, insurance, water waste, heat on 90, ac on 60, if someone has never owned or paid for their own utilities they are clueless of the insane expense.
I take the going rate slash it by 100 bucks to get a bigger pool to pick from. I want to keep a good tenant as long as possible so I stay under the average so there is no incentive to move. The profit margin may be lower for me but every month of vacancy is zero money. It works itself out math wise while being stressfree. But yeah costs are going up like insurance.
@@jimmyday9536 I am pretty sure he has a few different aliases that pop up here periodically. This of course assumes that his usual handle isn't an alias. (hey, mine obviously is, its the internet)
Tony, most tenants have never purchased property. As a result, they do not understand that every time a property is sold, the seller wants to receive more money than what they paid for it; as a result, the rent has to go up. You know this because you've been a property investor for some time. This is a simple fact that is obvious to anyone who has owned property, but will not be so apparent to anyone who has always rented. I think the concept needs to be explained (patiently) to tenants, so they will understand one of the reasons why rent in 2024 can't be what rent was back in 2010.
That comment doesn't matter. The reality is that with all properties in distress regarding vacancies and other factors, it is the sole responsibility of the landlords to deal with it. If they choose to they can divest, and move on
They're willfully ignorant of your facts, and want to remain that way. 99% will take your patience and empathy and shine their shoes with it. Let's face it. If the same self- entitled people banded together and bought their own apartment complex, they'd still be whining and want the government to intervene in some form or another.
High rents mean the location is in demand. California has the highest rent bec thats where all tech money was being made and good weather. If you want low rent, move to west Virginia or another city or even another rrtrcountry with lower cost of living. Personally, I live in California and am sick of it. Screw the governor and mayor who made our cities dumps and homeless drug sanctuaries bec they dumbshits who dont know how to run business. Government is a business. I dont want to be a landlord in California because we are getting screwed to pay higher property taxes and less protection for landlord rights. I am going to Southeast Asia where I can buy a place under $50k and have different girlfriends half my age every week. I'll be a landlord who doesn't have to deal with "rent control", squatter rights, and eviction bullshit. Screw you California.
Actually, there is a massive layoff wave in CA, and many tech workers have left. There are record levels of vacancies, developer bankruptcies, and drops of real estate value, especially in the multifamily sector
@@stevengoldstein114 This is a privately owned website. Nobody wants you here, not a single person. Why don't you go somewhere you are wanted? All you do is fight with every reply. Why??? Nobody is laughing with you, everybody is laughing at you.
@@ryanroberts1104but I have a premium account with RUclips, and it is not private. If it were you would be required to pay to access it. Your misunderstanding is clear, as well as your repeated hateful and abusive content.
Landlords shouldn't be greedy, but they are responsible to have a buisness that at makes at least $1 in profit (after all expenses). No they should not charge $5000 for a 200 sqft studio, neither should they charge $50 for a 3000 sqft house just to be nice to a tenant. They should charge a fair market value and take care of their properties. Its a landlords responsibility to have a healthy business. If you cant manage that, then get the hell out of it. Cause if you go bankrupt it hurts the tenant. But the tenants should also take care of the rental, and tell the landlord when something has to be fixed instead of trying to cover up bumps and dents. And yes, if a tenant constantly punches through the drywall ect, the kick them out as fast as you can. They has to respect the rental.
@@stevengoldstein114 But they have the right to charge fair market value. Actually, they have the right to charge anything they want......if it's too much, no one will rent.
@musictosoothe but as you know the market rates are manipulative，and there has been proof in court cases. And remember the states are still suing RealPage for it too. So maybe you are in a bubble that is about to pop .
@@stevengoldstein114 But you have a responsibility to have a healthy business. And where in the constitution does it say that i have to loose money on renting?
@dennisoestermann1880 but in some cases bad landlording and management leaves no alternative other that to divest. That is the way it works. So if you can't make it, quit and find something else. Stop trying to say you are entitled to a profit, no one is.
When we were younger, we worked 2 jobs so we could buy a house. Saved everything until we could. My daughter’s doing the same thing now. We didn’t live with parents. Grow up! Do what you have to do! Complaining isn’t helping.
@@BREEZYM6015 17. To go in military. Years later, I bought a house. But then I needed to care for mother, so moved back in with her in another state. I put my house up for rent while I cared for her for 5 1/2 years. I’m now traveling the country in an inherited, 10 year old, very small, travel trailer. House is still rented out. When I finished traveling, I’ll move back in to my house… but renters need to realize that the county has inflated value of house (27%) in order to collect more in taxes, water has increased, “landlord” insurance has increased (28%), and now you have to pay replacement cost, not just insure for it’s value. I had to replace the roof ($20,000) last year. I haven’t raised rent, but will need to soon because right now, rental houses around me are $1900, I’m still charging $1100 since 2017. I am absorbing these increases, but cannot do more because I have a mortgage to pay.
No one lost money during the pandemic. And the rent assistance was also given ppp loans that ended up grants. No landlord paid it back. And instead of fixing problems with their properties, they spent it on themselves. So Tony is dead wrong. And you all know it.
Or on the MORTGAGE. and before you say that's for myself I was planning to hold the house for income afterwards bc social security isn't cutting it. Now the tenants are paying late so I May have no choice. Their rent is the same. They will not find another house at this price.
I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M when it's last tax base was $1.15M. And once bought the taxes, we were set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
@madderscience the fool bought an illegal building. And there is nothing you can argue to change it. There was no building drawings on the city records, it is non conform of the land zone. And no structural inspection was performed. The sale was legal, but the building wasn't. In fact the new buyer tried to go to court based on this knowledge and the court told him, it was his responsibility under caveat emptor to take responsibility. Twice.
@@stevengoldstein114 well I guess every building I own is illegal too since there are no asbuilt plans for stuff in my jurisdiction on file with the county - too old. Funny how the state doesn't mind collecting taxes on blatantly illegal structures. BTW there is thing called grandfathering - just because zoning has changed under an existing building does not require it to be altered, changed, or its use changed. And despite your fantasies a structural inspection is not required during a sale. Its a good idea in many cases, but there are no legal requirements for it. And it may be completely pointless in other cases, like if the buyer wants to redevelop.
🎵🎶”Muuuaaaa-hahahaha! Where is the tent! I must have the rent! Dollars fines, and nickels, I need them all right noooooow!” Seriously though, some tenants are so ridiculous. Ever try to upkeep a rental property? Landlords still gotta make a profit or there is no point, they’re not running a charity. As for still living with parents as an adult, suck it up or find a way to make more money, even if you gotta live the GTA lifestyle (just don’t be shocked if you do that and get arrested or worse). The economy sucks. That’s life. There are people with spouses and kids who have to move back in with or still live with their parents.
That's the problem with some kids today. It could be accumulating a down payment on a house where they're living with Mom and Dad but they're not. They're going to blow their money and cry and whine. For many this is an opportunity to get ahead that they squander.
I know at least two people who work full time and live in their cars because they can not afford to pay rent. I am not saying who is to blame for this but the fact is the cost of rent (food, utilities, vehicle payments, gas..everything) have risen astronomically over the past several years and wages have not. I understand the perspective of the people who have no choice but to rent and triple respect for those who are working themselves into an early grave in order to pay their rent on time every month. You are so self righteous.
those two people should get together and rent a 1br as roommates. If they are working full time that should be possible almost anywhere in the country. And if it isn't where they are, they can relocate 20 miles and most likely it will be possible. I have to assume the jobs are minimum-ish wage service jobs so they can probably find similar work anywhere. If this doesn't work then there are probably other underlying issues not being mentioned.
@@madderscience You and people like you are CLUELESS. 30 years ago I worked for a little more than minimum wage and I could make it even with kids. I went to college and paid off a student loan BECAUSE I ONLY OWED $2,900 for a 2 year education. Do you not realize that those days are gone? I am not talking about squatters or people who don't even try to pay their rent, I am talking about hard working people who just want to get by.
Those days are gone. But his point about roommates is correct. One can't expect to have their own place at minimum wage. I lived in a 1 bedroom with a friend for 30 years. Kept different schedules.
@@georgewagner7787 I get that but my point was the lack of understanding on the part of landlords in 2024 as to why people are so angry because they can't enjoy life because they work 2, 3 jobs so they can live in a box and feed their kids every day. This channel especially has no compassion or insight.
RyanRoberts wants to say that this video is private, and that the public has no right to comment. First i am subscribed to the channel, second the video is public an explicit invitation to anyone to comment, and third, the RUclips is a private company but does not require comments to be private. Time to understand that putting a video out in a public area, means you will be error correction where deception by omission, trying to sell opinions are facts without evidence, or trying to reword stories that contain no content to support it from the original text. Time to either do better work on the videos, or get someone to establish it was done poorly.
I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M whent it's last tax base was $1.15M. And once bought the taxes we're set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
@georgewagner7787 he asked for the reevaluated tax base and officially dropped his own property value. Because he was taxed on the purchase price. So he did it himself.
And more REAL NEWS, landlord foreclosures are skyrocketing. From Bisnow Foreclosures Pick Up, Starting With The Largest Landlords October 29, 2024 This report indicates a 48% in rease yoy. So it looks like these business's are in serious trouble.
I agree with most of what you say, except one thing. I am fundimentally opposed to being leveraged in a revenue stream that is not productive and is only extracting from others. It is an abusive loophole that is fundimentally unethical. So all the stuff about mortgate I couldn't care less--unless it is on your primary resident which you are renting out a part of.
another I-dont-want-my-rent-paying-owners-loan screed. Remind me, how much does the FEDERAL GOVERNMENT owe to americans and the world? 36 trillion, or about 100K per every human in the USA. Congratulations, thats YOUR Debt to help pay off. Hope you got more for it than you paid in. Most of us probably have. Like any powerful tool, debt can be used to great advantage or great harm. As a tenant, the landlord's debt or lack of it doesn't directly affect you (except perhaps in dire cirumstances) therefore you shouldn't (and don't) have any say in the matter. As long as the landlord meets their obligations to provide habitable housing to you under the agreed terms its not your business. In fact, even if the landlord isn't keeping up their end of the bargain its not your business. This is a good thing. How would you like to have the landlord's bank come after you if they fail to pay their mortgage? I recently purchased a property using a loan. The loan is a commercial business loan not a fanny/freddy mortgage. the balance is pretty low for the overall property value. The loan does have an unusual condition - it requires me to decommission and remove an underground oil tank on the property within 18 months. I'll save you the details except to say the tank has small leak. If I fail to do this - and all the related work to update the heating system of the property - the bank can call the loan. If they do this I could lose the investment but there is zero liability to the tenants. If the bank took it back over they'd find another buyer to take over the property. This is all stuff _I_ have to deal with the tenants only need to cooperate with the mostly noninvasive work on the heating system which will all be done from the basements and crawlspaces. That's the luxury of being a tenant. And BTW this property was for sale in a hot market for most of a year - NO CASH BUYERS. I'm OK with these loan terms because I would have done the work anyway. It will add value and modernize the property. The property sold 'off market' because of the oil tank thing making conventional financing impossible. Once that issue is resolved the property will immediately be much more marketable, not that I have plans to flip it. I'm a long term hold guy. How many social housing projects built by GOVERNMENT do you you think are built with huge piles of cash just sitting around? NONE. Governments issues BONDS - which is DEBT - to finance this. Who buys all the mortgage debt? bond debt? a lot of it goes to RETIREMENT accounts. So some of your rent is helping pay for your neighbor's retirement.
That's nuts. I am a tenant as well bc I can't afford to buy where I live. Our landlord is awesome. A residence doesn't have to be productivo. It's not a factory. It's a service.
@@georgewagner7787 Have you considered that perhaps home prices would be lower if there are less leveraged buyers? The landlords don't even "win" much, if any, in this case, it's the bank that wins. Edit: also, if your landlord is awesome, there is a good chance that they have a relatively low debt load and this don't pretain to them much. Because a lot of times, highly leveraged landlord simply can't afford to be awesome.
@sp-cn8pm more than balancing. Developers built expecting demand to grow. It dropped when people actually started moving away. Thus the supply side economics failed badly. The rents are now only 9% higher since the start of the pandemic, and since one year we had 9% inflation, you know these landlords are in serious trouble.
@@stevengoldstein114 sooooo, what's the disaster? The same way items at a store go on sale, it can happen in real estate too. It sounds like a normal market cycle and that you fell for the sensationalized headlines. That's great for renters out there.
SpCn8 asked what was the violations find in the Bellingham landlord story, here they are Violations included “substandard and inadequate heating system, foundation cracks and breaks, unsafe exterior staircases and handrails, and inoperable windows and interior doors,” according to the Bellingham Police Department, whose code-enforcement officer issued the citation.
@@stevengoldstein114 Why don't you try and report it again, a lot of good that does, huh? RUclips doesn't like you either. Why would you keep returning to a place where nobody likes you? It's a simple question.
More REAL news Landlord uses shotgun to shoot tenant in ‘unprovoked’ attack, Washington officials say By Paloma Chavez October 10, 2024 10:35 AM A landlord was arrested after being accused of shooting his tenant with a shotgun, Washington officials said. On Oct. 8, deputies got reports that a man had been shot in an “unprovoked” attack by his landlord in a Yacolt home, according to a news release from the Clark County Sheriff’s Office. The man had been shot in the face and chest with a 12-gauge shotgun and was sent to the hospital for life-threatening injuries, deputies said.
Here is some REAL news City of Bellingham fines landlord for repeated building code violations By Robert Mittendorf Updated April 04, 2024 4:29 PM A Bellingham landlord has been fined $11,000 as part of the city’s renewed focus on building code violations under its rental registration law. Blake Lyon, director of the Planning and Community Development Department, said the fine was issued for serious violations that the property owner wouldn’t fix. A Bellingham Municipal Court ruling last week set the amount of the fine against Trevor Burke of Surrey, B.C., who owned the property at 1325 Billy Frank Jr. St., Lyon said in a phone interview. Each of the 11 original charges carried a fine of $2,250 for a total of $22,550, but the penalty was reduced to $11,000 in a Jan. 24 hearing, The Herald learned in a public-records request
@@jonathanjones3126 wrong an opinion is not a fact, not real news. And you know it. Opinions are stories and fiction. This is why Tony is a joke, like defending a criminal landlord in the last video. Woods was a madam of a brothel. Plead to violations of tenant law, and was no amateur landlord. She was also involved in a murder trial .
@stevengoldstein114 you are a joke, you can't refute anything from anyone. You have proven this over and over and over and over. You have devolved s much.
Tenants want lower rents tell them to tell their elected officials to stop raising taxes and increasing adding costly regulations.
I'm raising my tenants rent next year because of crazy property taxes. They targeted my house because I have a rental license on it. Who did they think the property taxes were going to? The person living on the property!
@@sp-cn8pm Property Tax Double in two years Insurance tripled in three years
@peterseth3296 if the LLs are not paying, what's the fee for? How much do you think these employees need to be paid in comparison to the amount they collect from all the LLs?
@@sp-cn8pm These cities want the inspectors to bring in more than their salaries in fines. That is the reason for hiring these inspectors.
They also cost the landlords in unnecessary repairs, the cost of which is passed on to the tenant as it should be.
Providing housing is not a charity and landlords are in business to make a profit and increases in costs need to be borne by the tenants that are benefiting from living there.
@@charlesphilhower1452 I completely agree.
im a home builder and landlord. i want to offer cheap houses but cant find any employees that arent greedy that are willing to work for free building them.
As a landlady and property owner over many years, the ignorance of tenants about property ownership is appalling. They don't have and don't WANT to have any information about ownership taxes, ownership insurance, ownership property repairs, lost income, lost rent, empty units or anything else. They will tell you, "Well, that is your problem." Somehow they just expect the landlord to absorb all the costs for a rental, while they can live there without the rent ever going up year after year. It's not realistic. That said, there are greedy landlords, and they will get as much money as they can from their rentals. It becomes a bit of a moral question at some point. Not to be confused with a lawful question. Landlords don't "owe" anyone a low rent apartment. They can keep rent low to help the renter out if they are on disability or Social Security, etc. But the onus is not on us to pick up the pieces in an inflated economy so people can afford to live. We have to live too, and we all have to pay the ridiculous prices that renters do. People don't buy property so they can hand hold poor tenants. We are not a charity.
Exactly. They don't WANT to know and only accept Utopia. Useful idiots for the Democrat Oligarchy class.
Life is business, grow up be responsible as adults try to better your life that you don't have to be on the losing end
I disagree. Tenants know all about the high costs of home ownership. That's why they rent and then vote for politicians that are willing to shift those high costs away from themselves and onto landlords, taxpayers, or even other tenants.
@@davidsine4390 I agree with your premise, but I honestly don't think many tenants who've never owned their own properties understand how expensive it is to maintain a property. Even a private home. I bought a 60 year old house quite a few years ago and over 10 years I was putting an average of $10,000 per year just into maintenance and upkeep - things like replacing the HVAC, water heater, having it resided, the driveway replaced, painting, new flooring, stuff like that - and then having to call the plumber when there's a leak, the drains are clogged, washer stops working, etc. - on top of normal bills, utilities, taxes and my mortgage. I think many of them equate owning property to just the mortgage and that's it, and see rent as eqivalent to paying the mortgage. It's really expensive to own property and keep it in acceptable condition, and I think that is completely lost on a lot of people who have never done it before.
@@MrStv1163 I have never had a tenant that believed owning a house was cheep (if they owned it). Usually the down payment alone stops the train in it's tracks for them. Every tenant I have dealt were all well aware that the costs of home ownership would be too expensive for them. Not trying to imply they all admitted it. Of course agreeing with owners that housing is expensive doesn't fit most tenants narrative that all landlords are rich greedy slumlords.
So this person doesn't make enough money to live in the area she wants too...... so pack up the base minimum, and move to a more affordable area...It won't be as nice, it may not be as safe, but that is reality.
But everywhere cost more than the zero mommy charges!
@@ryanroberts1104 what's more affordable that centralia, OK? Its pretty obvious what this person thinks they can afford as their $800 refrain comes pretty early. I bet though there is SOMETHING in a standalone apt out there for $800 in OK. Even in my major west coast city double that budget with a roommate and she would be able to find something respectable.
Find a room mate, or stay at parents home and give them rent.
Or traffic arms, conflict diamonds, or narcotics (just kidding). Seriously, there’s no shame in living with parents, the economy blows but the landlord shouldn’t have to rent out for cheap because a tenant can’t afford to rent and feels like living with their parents cramps their style.
If we were in the business of renting tools or machinery, we would be helping the community. If we rented out medical equipment, we would be heros. But if we rent out houses, we are greedy. Go figure.
even more so given "housing is healthcare" a common refrain from same people. Exercises in cognitive dissonance.
Its amazing how these people say nothing about the government constantly raising taxes, insurance going up, food prices going up, interest rates going up, the prices of everything going up. And like you said, what is she doing to increase her income going forward.
Interest rates are up, taxes are up, energy costs are up, etc.- inflation is up. Inflation doesn't just affect tennants, hits landlords too. Taxes, utilities & repairs are all pass through costs if the market will support it.
I don't want utilities I rather sit in the dark these days
Knock down taxes, insurance costs, material costs, and other general labor costs and then rent will come down.
Will do with higher interest rates to force all prices to crash. Remember the fed wants a 2% inflation rate, which means all business will need to be ready to make no more than 2% profits increase
So many tenants don't have a clue what housing costs. The taxes, the insurance, the costs to repair, with labor and materials at all time highs. People in general are dumb. They just like to open their big mouths, and crap comes out. There is no such thing as "affordable housing".
Loool
When ppl try to camp out pls don't call police. Let em do the ONE affordable option left
City taxes and insurance means high rent
Yep, I specifically look for things just outside of city limits. Always going to be cheaper.
@ryanroberts1104 definitely
This country has no affordable housing as it is That's why the homeless crisis is so bad
Tony, your catch phrase should be: " That tenant is a moron!".
Ignorance is too often a "safe space" for people who simply have NO interest in what is going on in life, or the issues that affect all of us. It is about them, their friends and family, and that is where it ends. It's like an encapsulated intellect.
"LALA LALALALALA I'm not listening!" - actual quote from a onetime boss when I tried to confront them about their toxic "leadership" strategies. A full grown adult a bit older than me.
@@madderscience There are many who are LALALA'ing their way through life and these are the ones who will run you over in a grocery store, lean on their horn if you don't floor it the second the light changes, call you every day trying to sell you something, burn their trash and smoke up the entire neighborhood every few days, let their dogs bark non-stop, wait for someone else to clean up the street/sidewalks after a bad storm, shut the door in your face going into a store ahead of you, and buy a brand new car in spite of the fact they are getting food stamps and go to the food pantry every week. The last thing most of them care about is anyone else.
As a landlord of 7 years I eat a lot of costs to maintain my property and costs to repair damages the tenants has done!!!, I've learned screen, screen, screen!!!, even at that there can be surprises. This person who wrote the letter is not someone I would ever want in my property, my guess is they demand outrageous things of the landlord and don't take care of the property!!!
That's why you charge a security deposit. 😂
My state only allows one month. One gal didn't pay me last month's rent so the cleanup was on me.
@@BREEZYM6015 NYS with their "tenant protections" ™ state you can only charge one month's security deposit. Democrats have ruined it for tenants.
Never ever make the security deposit same as the rent; else, tenants will simply use it for their last months rent.
@@jimmyday9536 Good info
What's so funny about this, I had a very relatable experience less than a decade ago, when I sold my first property well before the global event. Most of my portfolio is not rent, but the gains from seller-finance. The first property I sold was for 611 a month, the family who got it were intiially renting from me for 600. So now they would become property owners for a difference of just 11. They leapt at the deal. About a year later, they weren't as excited. Because they're now responsible for property taxes as well as insurance. That's because I'm not the property owner any more, they are. And as property owners, they are now responsible for the taxes and insurance, and according to our agreement, if they fail to take care of those two obligations, I'll take care of it for them, and they must reimburse me, if they fail to do so, I can foreclose, and keep the 18 they gave as DP at the beginning and everything given since then. They've still got more than 20 years to go. Also, since they're now the owners, and not me, they are the ones responsible for maintenance and repairs. Reason I bring this up is because now, all the houses I recondition, I use PEX-A for plumbing. But back then, I was really on a budget, and with no tools and no skills, I did the plumbing in that house with CPVC. CPVC is great in that it requires no skill, and for tools I just needed a hack saw and a can of primer and glue. The downside is that CPVC gets really brittle after about 15 years, and can easily break and flood the house. After seeing CPVC break from just turning on a faucet, I made the switch to PEX-A. I didn't know how bad CPVC was at t the time, and I'd done several houses that way, including that one. Even with its faults, CPVC is still permissible under UPC and IPC plumbing codes to this day.
I did seller financing once but never again. Buyer was an absolute moron, refused to pay on time thinking I could do nothing - I just ended the loan when I got tired of him. He got a letter that says I need over $150k in full within 30 days or I keep everything he paid so far and he goes.
He chose the latter option. I wish I could have seen his face when he opened that letter. He even tried to sue me, 3 different lawyers contacted me, and then fired him because he had no case.
@@ryanroberts1104, I've got a funny story behind what got me into seller financing, actually it's how I got into being a landlord. I'll try to make it short, many of my comments tend to go on and on... Very first property I got was from a tax foreclosure. Guy that owned it was a veteran with service connected disabilities. In Texas, that made him tax exempt on his primary residence (homestead). It was like that for years until he died, and his exemption died with him. His family stayed on the property, but after years of no taxes, they thought they didn't have taxes either... they were wrong and after 6 years of unpaid taxes, it went to auction where I got it. I waited until the redemption period expired and then had them evicted. What was odd was that after 6 years, the taxes due was just over 100 bucks. That was because according to the tax assessor, it's just an empty lot, no building. When I checked, the rest of the block was the same way, on both sides of the street. Every lot is listed as undeveloped land. There are records of the homes, mine was built in 1944, there are records of the permits, but at the assessors, each one (6 in total) was listed as undeveloped land. I ended up getting a second house elsewhere, which was actually pretty nice, 3 bd and 2 bth, garage, paved drive way, half decent neighborhood... but at the same time I had my eye on another house right across the street from my first one. It was owned and occupied by a family... but the house was in serious disrepair. They had no power, no water, they had a pickup truck and had to truck in water every day. There's no limit to security deposit in Texas, so I made a deal with them, that first house, it would be 600 a month with an additional 300 security deposit, so 900 total, for 24 months, then I would see about selling them a different house, the second one I got. After 2 years, they amassed about 7k in security, plus traded-in the run down one they had before, plus some additional to amount to a DP of 18k, putting them at 611 a month for 30 years... So I'm still collecting on the house they got, plus I got a second house that has almost no tax. It took significant repairs, but now I have two houses whose annual property taxes are less than 60 COMBINED. I'll never get rid of those two houses, they're rent only. So for the family, they love their new house, but did receive a bit of sticker shock when they realized they were now responsible for taxes, insurance, plus any maintenance and repairs they want. All in all, I think it was a win for everyone.
So sick of these whiny babies. They need to ask themselves WHY they don't own their own home. If the answer is that homes are expensive, then obviously landlords paid a LOT for those homes. With insurance rates through the roof (mine just tripled) and escalating property taxes, rent is not going to be cheap.
That doesn't include the cost of building materials and labor for repairs. A low efficiency furnace that I installed at $2,800 a few years ago in one place just cost me $7,200 in another property.
The SAME furnace make and model. That cost is going to be reflected in the rent. It's business.
Only point of disagreement... your candidate was NOT better for the economy. Just wait until the 20% across the board tariffs go into effect. Prices will skyrocket.
Not across the board. Only as leverage against greedy countries.
@@georgewagner7787 No offence, but do you have any idea how tariffs work? The cost is paid by American companies who purchase the goods from other countries.
They will still buy them, but guess who is going to pay the tariffs? They are going to pass the cost along to the consumer.
CEO's of Walmart and Lowes have already warned us to expect higher prices in 2025 due to the tariffs.
So if you voted red due to "inflation", congrats, you just played yourself. Consider yourself now a member of the "I never thought the leopard would eat MY face" club.
too many people are uneducated, delusional and out of touch with reality. no one knows what stuff costs. its like they watching price is right reruns from 1972.
My Mortgage rates, My Property Insurance and My Property Taxes!!!!
employees are the same way. they think the building, equipment, tools, furniture, etc all free and no money got spent on advertising to get customers.
Growing up and living with my parents, they were always renting, it was a different world. The relationship between landlords and tenants was far different. Today, renters demand everything in balk at suggestions. I started out living out of my vehicle, going to school part time and working part time. Now? I own two homes on one lot, renting out one of them. Yes, they demand the sky!
I'll lower my rent when my operational costs drop.
People tell me I charge too much for my five rentals. Being a pro builder myself I worked and saved 30k. I then built a studio unit to rent out. I deserve to charge reasonable rates. Those times when I worked long hours 7days a week the tenant sat around smoking pot and drinking beer. I did that five times and now I get five checks. I resent dumb people that think they should be able to rent them cheep rates just because I don’t owe anything on them any I’ll do another one this spring.
its a well known attribute of the rental industry that landlords don't make much cash until that loan is paid off or refinanced after many years of ownership. Its why only long term planners and savers end up being landlords.
Landlords should be able to charge whatever the market will bear. They should be allowed to earn as much profit as they can.
Why do tenants expect landlords to subsidize them? If a tenant is working as an employee, are they willing to subsidize their employer by working for less than another employer is willing to pay them? Of course not. So does that make them all greedy employees because they all want every penny they can get? Of couse they will say that's different somehow. Why? Because it requires a tenant to think about something other than themselves. Empathy. A concept that's completely lost on people these days.
You are making the same mistakes over and over again. You cannot be subsidizing anyone since that is a government action. Stop throwing out misused English. Makes me sick to here this garbage over and over again.
Su@@stevengoldstein114Government Subsidies contribute to elevated housing costs.
Tax, insurance plus maintenance is SO expensive, plus the cost of a mortgage if the property is financed. If those governmental agencies plus all maintenance costs go down, we will reduce rent
You choose to overpay for property and results in higher taxes, higher insurance and also higher maintenance cost because you do not get proper testing and inspection. That is all on you.
@ never assume
@@arribaficationwineho32 I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M whent it's last tax base was $1.15M. And once bought the taxes we're set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
No one chooses to overpay
As a landlord I say to the person who wrote the letter and those who think’s like him, please do your research before talking about something you are not well versed on. Thanks 🙏🏾 for this video I couldn’t have said it better ❤️
Tony, been watching you for a couple years. I so appreciate your lack of filter: "That tenant is a moron". I was thinking about a topic, I'm sure you can answer me. Why is it that the Section 8 processing/tracking/submissions/etc responsibilities fall to the landlord? Why are you even involved? Why don't they have that approval in place at time of rental? In my mind, if that person needs assistance, they should go get it, they also should receive the funds themselves, then like all other normal people, pay the rent. I can say with conviction, I would not consider being a landlord in today's enviornment. When I was a young mother I had to live in apartments all over the US as I was in the Navy. I remember tenants trashing their units for no reason, flushing spoiled food down the toilet/kids flushing toys, punching holes in the walls, inflicting maximum damage possible, then have the landlord deal with the aftermath. OH, and expect thier security deposit refunded as that was just normal wear and tear in their minds. Not uncommon for these individuals to allow the comode to overflow-just pour out everywhere and not even attempt to cut the water line, mop and clean up the human waste laying on the floor after the repair NO ...just leave it there and complain that the landlord didn't do his job.... guess what was outside the bathroom. You got it, carpet. High rents? Greedy landlords? Honestly, these are people that have lived a life of victimhood, hand outs, and irresponsibility, they will never change. I guess they have to live somewhere, but if I owned the building, I'd let that unit go empty till I found a reasonable renter. Tony, keep on fighting the good fight!!!
You can't give cash to irresponsible people
Instead of making babies at 15, get out of high school with your diploma, get into a secondary school that will teach you a trade you can live off of. No History majors, no philosophy majors, no theater arts, no literature majors. Get your behind into some schooling that will teach you a skill set that you can live off of. Quit living at age 20 like you've been making a living wage for 20 years. Quit with the nails, the coffee drinks, the fancy shoes and purses etc..........
Actually, the US is heading to a population decline in the next 10 years. People are willing to sterilize themselves to never have kids. So this was a foolish thing to write.
@@stevengoldstein114It's yes and no but the only people that are procreating at this point in time is the poor not your educated and well off population
@enhancedutility266 they are forced to have kids, they should be given free birth control, and with abortion being banned and trying to ban contraception, it is literally out of the poor control.
If this tenant cant even afford rent then how do they figure to become a home owner? This person is unhappy about having to live with mommy and daddy and are looking for someone to blame...loser
The flip side of greedy landlord is that the tenant is nolonger economically viable.
Yep. Behind every "slum"lord is a slum tenant.
I always say tenants are disposable.
@@mapleaf6672 There is some truth to this. I've bought a couple of buildings in my investing career and looked at others that were borderline or into slum territory. And with some notable exceptions many of the tenants acted about at the same level as the quality of building and management. The tyranny of low expectations I guess. I walked away from the worst of those buildings but I did buy a couple which became turnaround projects, one still ongoing (but far and away better than it was at purchase, now a respectable place to live)
Some people living in these conditions stop caring or contribuiting much themselves and end up with dirty apartments and excess junk piled inside or outside or in storage. Unauthorized pets run amok if management doesn't intervent and common areas become reeking, unsanitary minefields. People start smoking where they shoudlnt. Yet people hang on because often the rents are also very low. Eventually though the only people willing to move in are the ones that cause more trouble than they are worth and things really start to nosedive.
That said I've found that as new ownership with engaged management when I came into these places and (gently at first) started enforcing rules and cleaning and fixing things about 70% of tenants have been appreciative and supportive of it - EVEN WHEN it came with increasing rents. Another 20% went along with it for a while but preferred the prior circumstances for whatever reason and eventually move out. The last 10% are the ones that were taking advantage of the circumstances and subtly or not so subtly push back. I never got to E-word with any of that 10% eventually convincing them their best option was moving if they weren't going to cooperate but I got close to filing one time. A tenant the prior LL had allowed to move in had 3 husky dogs and a smoking and drug habit and a habit of subtly threatening my life and limb. I knew it was hot air so tried to work with them to cleanup after their dogs and be decent neighbors but they responded with lawsuit threats and other drama that was not necessary but was clearly intended to try and derail the real issues from being addressed. It took about 18 months but they eventually gave up and realized they weren't going to win and moved. (for the record they were paying rent however thats why they got as many olive branches as they did)
Taxes, insurance, water waste, heat on 90, ac on 60, if someone has never owned or paid for their own utilities they are clueless of the insane expense.
My tenants pay everything but sewer and are responsible for the lawn and the snow.
In my state landlords are responsible for snow removal, water&sewer and landscaping.
I take the going rate slash it by 100 bucks to get a bigger pool to pick from. I want to keep a good tenant as long as possible so I stay under the average so there is no incentive to move.
The profit margin may be lower for me but every month of vacancy is zero money. It works itself out math wise while being stressfree.
But yeah costs are going up like insurance.
Hey Steve, is the tenant a moron?
He probably wrote that article.
@@jimmyday9536 I am pretty sure he has a few different aliases that pop up here periodically. This of course assumes that his usual handle isn't an alias. (hey, mine obviously is, its the internet)
@@madderscience No, it takes a truly dedicated idiot to do what he does.
@@madderscience No, it takes a real dedicated moron (in the medical sense) to behave like that. He somehow out-dumbs a bot.
Tony, most tenants have never purchased property. As a result, they do not understand that every time a property is sold, the seller wants to receive more money than what they paid for it; as a result, the rent has to go up. You know this because you've been a property investor for some time. This is a simple fact that is obvious to anyone who has owned property, but will not be so apparent to anyone who has always rented. I think the concept needs to be explained (patiently) to tenants, so they will understand one of the reasons why rent in 2024 can't be what rent was back in 2010.
That comment doesn't matter. The reality is that with all properties in distress regarding vacancies and other factors, it is the sole responsibility of the landlords to deal with it. If they choose to they can divest, and move on
Ignore Steve’s comments. He is a troll.
Your response is spot on with tenants not understanding how ‘rent’ works with increases, etc.
They're willfully ignorant of your facts, and want to remain that way. 99% will take your patience and empathy and shine their shoes with it. Let's face it. If the same self- entitled people banded together and bought their own apartment complex, they'd still be whining and want the government to intervene in some form or another.
High rents mean the location is in demand. California has the highest rent bec thats where all tech money was being made and good weather. If you want low rent, move to west Virginia or another city or even another rrtrcountry with lower cost of living. Personally, I live in California and am sick of it. Screw the governor and mayor who made our cities dumps and homeless drug sanctuaries bec they dumbshits who dont know how to run business. Government is a business. I dont want to be a landlord in California because we are getting screwed to pay higher property taxes and less protection for landlord rights. I am going to Southeast Asia where I can buy a place under $50k and have different girlfriends half my age every week. I'll be a landlord who doesn't have to deal with "rent control", squatter rights, and eviction bullshit. Screw you California.
Actually, there is a massive layoff wave in CA, and many tech workers have left. There are record levels of vacancies, developer bankruptcies, and drops of real estate value, especially in the multifamily sector
@@stevengoldstein114 Why do you come to a place where nobody wants to see you?
@ryanroberts1104 my freedom of participation in a public forum. It is not your private club. If you want that, do not use youtube.
@@stevengoldstein114 This is a privately owned website. Nobody wants you here, not a single person. Why don't you go somewhere you are wanted? All you do is fight with every reply. Why??? Nobody is laughing with you, everybody is laughing at you.
@@ryanroberts1104but I have a premium account with RUclips, and it is not private. If it were you would be required to pay to access it. Your misunderstanding is clear, as well as your repeated hateful and abusive content.
Landlords shouldn't be greedy, but they are responsible to have a buisness that at makes at least $1 in profit (after all expenses). No they should not charge $5000 for a 200 sqft studio, neither should they charge $50 for a 3000 sqft house just to be nice to a tenant. They should charge a fair market value and take care of their properties. Its a landlords responsibility to have a healthy business. If you cant manage that, then get the hell out of it. Cause if you go bankrupt it hurts the tenant.
But the tenants should also take care of the rental, and tell the landlord when something has to be fixed instead of trying to cover up bumps and dents. And yes, if a tenant constantly punches through the drywall ect, the kick them out as fast as you can. They has to respect the rental.
Sorry, you have the right to pursue happiness, but no constitutional right to profits.
@@stevengoldstein114 But they have the right to charge fair market value. Actually, they have the right to charge anything they want......if it's too much, no one will rent.
@musictosoothe but as you know the market rates are manipulative，and there has been proof in court cases. And remember the states are still suing RealPage for it too. So maybe you are in a bubble that is about to pop .
@@stevengoldstein114 But you have a responsibility to have a healthy business. And where in the constitution does it say that i have to loose money on renting?
@dennisoestermann1880 but in some cases bad landlording and management leaves no alternative other that to divest. That is the way it works. So if you can't make it, quit and find something else. Stop trying to say you are entitled to a profit, no one is.
That person complaining about landlords are greedy is missing the bigger picture. That picture being the gentrification of our neighborhoods = facts.
And all those people invited across the border by the Joe Biden and Kamala Harris , A.Ocasio-Cortez administration.
When we were younger, we worked 2 jobs so we could buy a house. Saved everything until we could. My daughter’s doing the same thing now. We didn’t live with parents. Grow up! Do what you have to do! Complaining isn’t helping.
When did you move out of your parent's house?
@@BREEZYM6015 17. To go in military. Years later, I bought a house. But then I needed to care for mother, so moved back in with her in another state. I put my house up for rent while I cared for her for 5 1/2 years. I’m now traveling the country in an inherited, 10 year old, very small, travel trailer. House is still rented out. When I finished traveling, I’ll move back in to my house… but renters need to realize that the county has inflated value of house (27%) in order to collect more in taxes, water has increased, “landlord” insurance has increased (28%), and now you have to pay replacement cost, not just insure for it’s value. I had to replace the roof ($20,000) last year. I haven’t raised rent, but will need to soon because right now, rental houses around me are $1900, I’m still charging $1100 since 2017. I am absorbing these increases, but cannot do more because I have a mortgage to pay.
@@BREEZYM6015 For me it was just turned 18 and newly married.
@@BREEZYM6015I was 17.
I went away to school at 17 and had an apartment at 21.
No one lost money during the pandemic. And the rent assistance was also given ppp loans that ended up grants. No landlord paid it back. And instead of fixing problems with their properties, they spent it on themselves. So Tony is dead wrong. And you all know it.
Or on the MORTGAGE. and before you say that's for myself I was planning to hold the house for income afterwards bc social security isn't cutting it. Now the tenants are paying late so I May have no choice.
Their rent is the same. They will not find another house at this price.
You don't care about the poor no sympathy no empathy evil
I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M when it's last tax base was $1.15M. And once bought the taxes, we were set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
How's that job search coming along?
the sale would not have been recorded if it was illegal. You aren't judge or jury on these things much as you wish you were.
@madderscience the fool bought an illegal building. And there is nothing you can argue to change it. There was no building drawings on the city records, it is non conform of the land zone. And no structural inspection was performed. The sale was legal, but the building wasn't. In fact the new buyer tried to go to court based on this knowledge and the court told him, it was his responsibility under caveat emptor to take responsibility. Twice.
@ryanroberts1104 more baiting and harrassment .
@@stevengoldstein114 well I guess every building I own is illegal too since there are no asbuilt plans for stuff in my jurisdiction on file with the county - too old. Funny how the state doesn't mind collecting taxes on blatantly illegal structures.
BTW there is thing called grandfathering - just because zoning has changed under an existing building does not require it to be altered, changed, or its use changed.
And despite your fantasies a structural inspection is not required during a sale. Its a good idea in many cases, but there are no legal requirements for it. And it may be completely pointless in other cases, like if the buyer wants to redevelop.
🎵🎶”Muuuaaaa-hahahaha! Where is the tent! I must have the rent! Dollars fines, and nickels, I need them all right noooooow!” Seriously though, some tenants are so ridiculous. Ever try to upkeep a rental property? Landlords still gotta make a profit or there is no point, they’re not running a charity.
As for still living with parents as an adult, suck it up or find a way to make more money, even if you gotta live the GTA lifestyle (just don’t be shocked if you do that and get arrested or worse). The economy sucks. That’s life. There are people with spouses and kids who have to move back in with or still live with their parents.
That's the problem with some kids today. It could be accumulating a down payment on a house where they're living with Mom and Dad but they're not. They're going to blow their money and cry and whine.
For many this is an opportunity to get ahead that they squander.
And even if they did save anything for a down payment somewhere, they would never choose a reasonable fixer- upper home that was actually affordable.
I know at least two people who work full time and live in their cars because they can not afford to pay rent. I am not saying who is to blame for this but the fact is the cost of rent (food, utilities, vehicle payments, gas..everything) have risen astronomically over the past several years and wages have not. I understand the perspective of the people who have no choice but to rent and triple respect for those who are working themselves into an early grave in order to pay their rent on time every month. You are so self righteous.
those two people should get together and rent a 1br as roommates. If they are working full time that should be possible almost anywhere in the country. And if it isn't where they are, they can relocate 20 miles and most likely it will be possible. I have to assume the jobs are minimum-ish wage service jobs so they can probably find similar work anywhere.
If this doesn't work then there are probably other underlying issues not being mentioned.
@@madderscience You and people like you are CLUELESS. 30 years ago I worked for a little more than minimum wage and I could make it even with kids. I went to college and paid off a student loan BECAUSE I ONLY OWED $2,900 for a 2 year education. Do you not realize that those days are gone? I am not talking about squatters or people who don't even try to pay their rent, I am talking about hard working people who just want to get by.
Those days are gone. But his point about roommates is correct. One can't expect to have their own place at minimum wage.
I lived in a 1 bedroom with a friend for 30 years. Kept different schedules.
@@georgewagner7787 I get that but my point was the lack of understanding on the part of landlords in 2024 as to why people are so angry because they can't enjoy life because they work 2, 3 jobs so they can live in a box and feed their kids every day. This channel especially has no compassion or insight.
@@jennymcdonough2095 I work 2 jobs. My daily, and as a LL. Weekends? as if.
RyanRoberts wants to say that this video is private, and that the public has no right to comment. First i am subscribed to the channel, second the video is public an explicit invitation to anyone to comment, and third, the RUclips is a private company but does not require comments to be private. Time to understand that putting a video out in a public area, means you will be error correction where deception by omission, trying to sell opinions are facts without evidence, or trying to reword stories that contain no content to support it from the original text. Time to either do better work on the videos, or get someone to establish it was done poorly.
Auther of that letter most likely enjoyed free rent during the pandemic!
Lack of critical thinking. Fools. The tenants don’t even want to think.
I saw it with my own two eyes, a fool named David Avny bought my building, knowing it was illegal, without any structural inspection for $4.9M whent it's last tax base was $1.15M. And once bought the taxes we're set at the purchase price. It was an insane thing to do. He wound up selling for a $1M LOSS.
He should have bought someplace where they don't reevaluate every year .
@georgewagner7787 he asked for the reevaluated tax base and officially dropped his own property value. Because he was taxed on the purchase price. So he did it himself.
How about the first 1/3 of the rent goes to local taxes and then I pay income tax on the rest?
And more REAL NEWS, landlord foreclosures are skyrocketing. From Bisnow Foreclosures Pick Up, Starting With The Largest Landlords
October 29, 2024
This report indicates a 48% in rease yoy. So it looks like these business's are in serious trouble.
I agree with most of what you say, except one thing.
I am fundimentally opposed to being leveraged in a revenue stream that is not productive and is only extracting from others. It is an abusive loophole that is fundimentally unethical. So all the stuff about mortgate I couldn't care less--unless it is on your primary resident which you are renting out a part of.
another I-dont-want-my-rent-paying-owners-loan screed. Remind me, how much does the FEDERAL GOVERNMENT owe to americans and the world? 36 trillion, or about 100K per every human in the USA. Congratulations, thats YOUR Debt to help pay off. Hope you got more for it than you paid in. Most of us probably have.
Like any powerful tool, debt can be used to great advantage or great harm. As a tenant, the landlord's debt or lack of it doesn't directly affect you (except perhaps in dire cirumstances) therefore you shouldn't (and don't) have any say in the matter. As long as the landlord meets their obligations to provide habitable housing to you under the agreed terms its not your business. In fact, even if the landlord isn't keeping up their end of the bargain its not your business. This is a good thing. How would you like to have the landlord's bank come after you if they fail to pay their mortgage?
I recently purchased a property using a loan. The loan is a commercial business loan not a fanny/freddy mortgage. the balance is pretty low for the overall property value. The loan does have an unusual condition - it requires me to decommission and remove an underground oil tank on the property within 18 months. I'll save you the details except to say the tank has small leak. If I fail to do this - and all the related work to update the heating system of the property - the bank can call the loan. If they do this I could lose the investment but there is zero liability to the tenants. If the bank took it back over they'd find another buyer to take over the property. This is all stuff _I_ have to deal with the tenants only need to cooperate with the mostly noninvasive work on the heating system which will all be done from the basements and crawlspaces. That's the luxury of being a tenant.
And BTW this property was for sale in a hot market for most of a year - NO CASH BUYERS.
I'm OK with these loan terms because I would have done the work anyway. It will add value and modernize the property. The property sold 'off market' because of the oil tank thing making conventional financing impossible. Once that issue is resolved the property will immediately be much more marketable, not that I have plans to flip it. I'm a long term hold guy.
How many social housing projects built by GOVERNMENT do you you think are built with huge piles of cash just sitting around? NONE. Governments issues BONDS - which is DEBT - to finance this.
Who buys all the mortgage debt? bond debt? a lot of it goes to RETIREMENT accounts. So some of your rent is helping pay for your neighbor's retirement.
That's nuts. I am a tenant as well bc I can't afford to buy where I live. Our landlord is awesome. A residence doesn't have to be productivo. It's not a factory. It's a service.
@@georgewagner7787 Have you considered that perhaps home prices would be lower if there are less leveraged buyers?
The landlords don't even "win" much, if any, in this case, it's the bank that wins.
Edit: also, if your landlord is awesome, there is a good chance that they have a relatively low debt load and this don't pretain to them much. Because a lot of times, highly leveraged landlord simply can't afford to be awesome.
Interesting, no new video today, Tony couldn't find a opinion piece or trade publication article to propagandize on.
🌸🌸TCGB
Tony is NOT reporting about the Austin Texas rental disaster. Rents are crashing there. And Texas is in a world of trouble.
Stop changing the subject, parasite.
@@mapleaf6672nice to see you again, more baiting and harrassment.
Austin was the number 1 place people moved to during the pandemic. Prices skyrocketed due to demand and are now equalizing. It's a market cycle Steve.
@sp-cn8pm more than balancing. Developers built expecting demand to grow. It dropped when people actually started moving away. Thus the supply side economics failed badly. The rents are now only 9% higher since the start of the pandemic, and since one year we had 9% inflation, you know these landlords are in serious trouble.
@@stevengoldstein114 sooooo, what's the disaster? The same way items at a store go on sale, it can happen in real estate too. It sounds like a normal market cycle and that you fell for the sensationalized headlines. That's great for renters out there.
Of course landlords aren't greedy. Or negligent.
SpCn8 asked what was the violations find in the Bellingham landlord story, here they are
Violations included “substandard and inadequate heating system, foundation cracks and breaks, unsafe exterior staircases and handrails, and inoperable windows and interior doors,” according to the Bellingham Police Department, whose code-enforcement officer issued the citation.
Would you like me to show you how you find jobs that are available in your area?
@ryanroberts1104 more baiting and harrassment .
@@stevengoldstein114 So you choose to be a deadbeat, is that correct?
@ryanroberts1104 more hateful and abusive content. Clearly a violation of RUclips terms and conditions. You are a repeat offender.
@@stevengoldstein114 Why don't you try and report it again, a lot of good that does, huh? RUclips doesn't like you either. Why would you keep returning to a place where nobody likes you? It's a simple question.
More REAL news Landlord uses shotgun to shoot tenant in ‘unprovoked’ attack, Washington officials say
By Paloma Chavez
October 10, 2024 10:35 AM
A landlord was arrested after being accused of shooting his tenant with a shotgun, Washington officials said.
On Oct. 8, deputies got reports that a man had been shot in an “unprovoked” attack by his landlord in a Yacolt home, according to a news release from the Clark County Sheriff’s Office.
The man had been shot in the face and chest with a 12-gauge shotgun and was sent to the hospital for life-threatening injuries, deputies said.
Stop changing the subject, parasite.
@@mapleaf6672more baiting and harrassment.
@stevengoldstein114 what do you call your constant unrelated comments?
@@sp-cn8pmREAL NEWS
@@sp-cn8pm He won't answer you, it's his everyday attempt to take over this channel.
Here is some REAL news City of Bellingham fines landlord for repeated building code violations
By Robert Mittendorf
Updated April 04, 2024 4:29 PM
A Bellingham landlord has been fined $11,000 as part of the city’s renewed focus on building code violations under its rental registration law.
Blake Lyon, director of the Planning and Community Development Department, said the fine was issued for serious violations that the property owner wouldn’t fix.
A Bellingham Municipal Court ruling last week set the amount of the fine against Trevor Burke of Surrey, B.C., who owned the property at 1325 Billy Frank Jr. St., Lyon said in a phone interview.
Each of the 11 original charges carried a fine of $2,250 for a total of $22,550, but the penalty was reduced to $11,000 in a Jan. 24 hearing, The Herald learned in a public-records request
Does the city use the 11k to fix the property?
@georgewagner7787 not the cities problem. The landlord needs to fix it. Since it's their property.
Again you can't refute anything so you badly try and change the subject.... you bot
@@jonathanjones3126 wrong an opinion is not a fact, not real news. And you know it. Opinions are stories and fiction. This is why Tony is a joke, like defending a criminal landlord in the last video. Woods was a madam of a brothel. Plead to violations of tenant law, and was no amateur landlord. She was also involved in a murder trial .
@stevengoldstein114 you are a joke, you can't refute anything from anyone. You have proven this over and over and over and over. You have devolved s much.