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true dat tho as the tenant, its a double edged sword. With corporate, nobody meddling in your buisness - take the money stay out my life kind of sh!t is sometimes worth the premium. not to mention 24 hour maintenance teams an a cheap security deposit.Mom and pop landlords — especially when renting something that’s on their property — are much more likely to value a balance of revenue and having a good tenant/neighbor.
A corporate landlord is primarily (if not solely) focused on maximizing revenue.
I just moved and some private landlords wanted first,last and security deposit equal to one months. Who wants to drop 10k to move into a rental?
this, and I wouldn’t want it any other way. i think there are good and evil on both sides of the fence, you highlight some great points, and having both types of landlord is a win for the renter.its nice to have the choice.
this, and I wouldn’t want it any other way. i think there are good and evil on both sides of the fence, you highlight some great points, and having both types of landlord is a win for the renter.
it’s nice to have the freedom to pick your poison.
I had a landlord who took over ownership of the house by forcing the sale on his co-owner brother who he inherited the house with. It was understood that we would be out in the next few months because we never had a formal lease. Next 2 weekends he was over clearing vegetation with power tools in a part of the yard down by the creek for his new hang out spot.this, and I wouldn’t want it any other way. i think there are good and evil on both sides of the fence, you highlight some great points, and having both types of landlord is a win for the renter.
it’s nice to have the freedom to pick your poison.
The rule of thumb is that the monthly rent needs to be 1% of the purchase price in order for it to cash flow. This isn't a perfect rule because property taxes and insurance vary wildly by state but it's a starting point for evaluating if a place will work or not. 5-10 years ago this was much easier but it's pretty tough to find nowadays, especially with higher interest rates. Pretty much restricts you to parts of the country where you can still find houses for <$200K and yes, with multi-family the numbers start making more sense as you pointed out. If you buy on the coasts, you are banking on appreciation and rent increases to eventually have a profitable investment.Corporations buying single family homes - I don't see the long term success of that.
Always remember protections for SFH are in favor of the owner while condos, apartments and townhomes towards the tenant in places like California.I had a landlord who took over ownership of the house by forcing the sale on his co-owner brother who he inherited the house with. It was understood that we would be out in the next few months because we never had a formal lease. Next 2 weekends he was over clearing vegetation with power tools in a part of the yard down by the creek for his new hang out spot.
When I approached him he said, "Hey, you mind if we come by on weekends and hang out by the creek and grill hot dogs?". I'm like yeah, "I do mind. I'm not okay with that" and watched his dumbass deflate and slink away. Something like that would never happen with a corporate landlord because they know the rules inside out and are afraid of getting sued. On the flip side, the handshake deal we had under the old landlord wouldn't have flown either.
Not sure what you mean? Are there actually separate landlord/tenant laws for multi vs SFH? I've always heard that getting a deadbeat tenant out is a nightmare in California no matter what kind of unit it is.Always remember protections for SFH are in favor of the owner while condos, apartments and townhomes towards the tenant in places like California.
I don’t remember the federal law that applies but SFH are exempt from any local ordinances, iirc.
Not sure what you mean? Are there actually separate landlord/tenant laws for multi vs SFH?
Yep, iirc its something from the 70’s, passed federally. states and local municipalities cannot do chit bc the fed said so.Not sure what you mean? Are there actually separate landlord/tenant laws for multi vs SFH? I've always heard that getting a deadbeat tenant out is a nightmare in California no matter what kind of unit it is.
That house is in Dana Point and is anchored deep in bedrock. It isn't even red-tagged. Still, I'm glad I don't own it.3 homes in Dana Point, hanging over the edge
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Side note. How tf did this guy get approved to build this home? What a location!