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usrevenge t1_itp9zo6 wrote

Reply to comment by joedev007 in Software biz accused of colluding with 'cartel' of landlords by marketrent

Lol what a moron.

Land lord expenses don't significantly raise. In fact they drop.

If you bought your property to rent out in 2015 and rented it out until 2020 you probably paid off most of the mortgage anyway. Meanwhile these shitfucks would raise rent on top of paying less in expenses

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joedev007 t1_itpasjh wrote

lol yes because property taxes going only going down

because water bills are going down

because maintenance costs are going down

back to your mom's basement glad to know you own nothing - or own it in an area no one wants to live in that does not have municipal workers making $200K a year PLUS benefits :)

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usrevenge t1_itpgmyj wrote

You are special.

Even if property tax assessments doubled and water bills doubled and every other utility doubled in price that would still be like 10% increase in rent not 100%.

Let's do the math.

You buy your rental home in 2015 for $150,000 the rent would easily be $900-1000 or probably more.

If you put 20% down which since it's a rental you kinda have to do that at a minimum your monthly payment for the house and taxes etc is $800. That's 1% property tax which is pretty standard

Now according to you. If we double the property tax. The math makes it out that rent should double.

Let's do that

If we double property tax it's $3000 a year. That means the total amount goes up about $150 per month.

Here is the kicker. Rent didn't go up $150. Rent didn't go up $200.

Rent has been going up 50% or more since that time The $1000 house you rented in 2015 is probably $1800 a month today.

So yea you deserve the down votes and everyone making fun of you.

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joedev007 t1_itpi9cy wrote

you're assuming that a good part of the increases are not...

  1. to invest more money in developing the property/properties held by this landlord.
  2. to fund capital improvements (in ground pool, led lighting, solar panels, tesla power walls, new playground)
  3. to filter who lives there by way of turnover
  4. to fund the landlord's lifestyle. it costs time and effort to manage a property, offset the non-payment tenants losses, legal, advertising of properties, etc.

imagine IF you applied your logic to concert tickets, weed, sneakers, alcohol...

Holy cow it's America and landlords want to live the same lifestyle the people you pay to see at lollapalooza or sportsball do

LOL

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