owning a rental property and the sh*t that comes with it...

[Robin]

i am just chalking it up to mild entertainment and a learning experience 

[Sam Gunn (since nobody got Admiral Naismith)]

You guys pay jack shit for rent.  You'd be lucky to find a room in California for 500 bucks.

Most rentals here obviously depend on location.  In a good location, a nice 1br apartment would be about 500-600 plus utils.  2br would be about 6-7ish.  A small house would be around 650 to 850, and a nice sized house in good condition would be 800-1000.  All plus utils. 

If its junky, or in a scuzzy location, it can be less.  It can obviously always be much more.  Lots of good houses here rent for $2k, 3br brick ranch, nice yard, something you'd really like to own.  I'd never pay 2k for rent, even with splits.  With 2 other guys, I could see 1200 house in decent shape, that'd be arite.  But I dislike living with people, so I'd rather a 1br mentioned above. 

Holy crap.  1200 here will get you a low end one bedroom.  I pay 750/mo for my ROOM in a 3 bedroom condo utilities included.  And I feel like I got a half decent deal.

[Bill Brasky]

You guys pay jack shit for rent.  You'd be lucky to find a room in California for 500 bucks.

Most rentals here obviously depend on location.  In a good location, a nice 1br apartment would be about 500-600 plus utils.  2br would be about 6-7ish.  A small house would be around 650 to 850, and a nice sized house in good condition would be 800-1000.  All plus utils. 

If its junky, or in a scuzzy location, it can be less.  It can obviously always be much more.  Lots of good houses here rent for $2k, 3br brick ranch, nice yard, something you'd really like to own.  I'd never pay 2k for rent, even with splits.  With 2 other guys, I could see 1200 house in decent shape, that'd be arite.  But I dislike living with people, so I'd rather a 1br mentioned above. 

Holy crap.  1200 here will get you a low end one bedroom.  I pay 750/mo for my ROOM in a 3 bedroom condo utilities included.  And I feel like I got a half decent deal.

I was paying 900ish +electricity and cable for an upscale 1br condo apartment.  Nice place, but it was snooty.  Managed living villa, pool, weight room.  I was getting hosed.  I coulda done better if I knew the area better.  

Right down the road after I moved in, I found a place in a huge chalet home, like you'd see in Aspen with the huge wooden beams poking out of it, looking over a river for 700ish.  All exterior entrances, little porches all over it.  Real cool place.  Chick magnet pad.  

Nicest apartments I know of around here, they carved up an old cigar factory into "executive apartments".  Marble floor in the lobby, modern elevators, biometric thumb-print readers for the locks.  Halogen lights hanging over the breakfast bar, voice activated showers.  Really over the top shit.  1500/2000/2500 depending on br's.  Utilities were included in that, which was cool.  I suppose because it was a building and it woulda been hard to meter each unit.  

I thunk it over, gotta admit.  Seemed silly after I regained my composure.  

[Sam Gunn (since nobody got Admiral Naismith)]

You guys pay jack shit for rent.  You'd be lucky to find a room in California for 500 bucks.

Most rentals here obviously depend on location.  In a good location, a nice 1br apartment would be about 500-600 plus utils.  2br would be about 6-7ish.  A small house would be around 650 to 850, and a nice sized house in good condition would be 800-1000.  All plus utils.  

If its junky, or in a scuzzy location, it can be less.  It can obviously always be much more.  Lots of good houses here rent for $2k, 3br brick ranch, nice yard, something you'd really like to own.  I'd never pay 2k for rent, even with splits.  With 2 other guys, I could see 1200 house in decent shape, that'd be arite.  But I dislike living with people, so I'd rather a 1br mentioned above.  

Holy crap.  1200 here will get you a low end one bedroom.  I pay 750/mo for my ROOM in a 3 bedroom condo utilities included.  And I feel like I got a half decent deal.

I was paying 900ish +electricity and cable for an upscale 1br condo apartment.  Nice place, but it was snooty.  Managed living villa, pool, weight room.  I was getting hosed.  I coulda done better if I knew the area better.  

Right down the road after I moved in, I found a place in a huge chalet home, like you'd see in Aspen with the huge wooden beams poking out of it, looking over a river for 700ish.  All exterior entrances, little porches all over it.  Real cool place.  Chick magnet pad.  

Nicest apartments I know of around here, they carved up an old cigar factory into "executive apartments".  Marble floor in the lobby, modern elevators, biometric thumb-print readers for the locks.  Halogen lights hanging over the breakfast bar, voice activated showers.  Really over the top shit.  1500/2000/2500 depending on br's.  Utilities were included in that, which was cool.  I suppose because it was a building and it woulda been hard to meter each unit.  

I thunk it over, gotta admit.  Seemed silly after I regained my composure.  

Damn. What state is this?  I'm going to be leaving the PRK when I'm done with college, and I need to find the best bang for buck place to live because I know that CA isn't it.  I'm planning on taking a year or two off of school after I get my BS before I go to med school just so I can build a little bank before I go back to school, I just want to make sure I'm doing it in the best place possible to save my cash.  PS: I don't want to live with my parents, so don't suggest that.


Anyone know of a good state with biotech industry besides CA that has decent rent vs. income rates?

I'm thinking Houston is going to be my next residence, but I'm open to suggestions.

[Bill Brasky]

Damn. What state is this?  I'm going to be leaving the PRK when I'm done with college, and I need to find the best bang for buck place to live because I know that CA isn't it.  I'm planning on taking a year or two off of school after I get my BS before I go to med school just so I can build a little bank before I go back to school, I just want to make sure I'm doing it in the best place possible to save my cash.  PS: I don't want to live with my parents, so don't suggest that.


Anyone know of a good state with biotech industry besides CA that has decent rent vs. income rates?

I'm thinking Houston is going to be my next residence, but I'm open to suggestions.

This is in Pennsylvania.  Its cheap to live here, despite what MacFall says.  Its cold, though.  I don't think you'd like it since you're into desert biking and all, and used to the climate.  I hate the cold.  It is intolerable, and the people here are doorknobs. 

A buddy of mine went to Atlanta after he got his math doctorate, made a ton.  Somehow he ended up web geeking, don't ask how the two gel because I have no clue. 

The cost of living in Georgia is relatively low, away from urban shitholes and the super-fancy burbs where the white drones go. 

[DontTreadOnMike]

Eh my story isn't too crazy after some of the things written here. My mother in law has tenants who won't pay...typical BS. They sell meth out of her property (thank god they don't MAKE it there. The house would be ruined) they have dogs when the contract says they can't, and they have a friend living across the street in an RV and he hooked up his power to the house. Assholes. Served em a 60 day notice and they just laughed.

She also owns a studio in Hawaii. Well apparently some psycho murdered and dismembered a hooker in the complex where her studio is located (not actually in HER studio thank goodness haha)

[Sam Gunn (since nobody got Admiral Naismith)]

I'd rather live with the white drones in the burbs than with the white trash in the trailer park.   I'm thinking of moving to Houston, because I know they have a biotech industry and decent unemployment levels and cheaper property prices.  But I'm waiting to hear from my buddy who just moved to Dallas on what TX is really like.

[blackie]

TX is gay. It's snowing in Houston.

[Sam Gunn (since nobody got Admiral Naismith)]

Why?

No Jews allowed in TX?

[Rillion]

I'd rather live with the white drones in the burbs than with the white trash in the trailer park.   I'm thinking of moving to Houston, because I know they have a biotech industry and decent unemployment levels and cheaper property prices.  But I'm waiting to hear from my buddy who just moved to Dallas on what TX is really like.

I've lived in Texas for almost eight years total, in the Dallas/Ft. Worth area.  What do you want to know?

Only been to Houston once, and my impression is that people there drive poorly.  Of course, people in DFW aren't so hot in that regard either. 

[libertylover]

Our solution to renters was to gut the house demolish it and sell the land which was worth more sans house.
Renters never paid on time and always with some sort of sob story.  They didn't destroy the place it was pretty rough to begin with.  

The other rental property was to an elderly lady who we think was losing her mental acuity.  Pretty much ruined the carpet in the home.  When she did leave she thought that she had bought the new refrigerator which we purchased and installed.  She even took us to court because we kept the security deposit as part of her reply she claimed the refrigerator was her's.  However, we had the receipts and she had no documentation.  I don't think she was intentionally lying she really had thought that she had purchased the refrigerator with her husband.  When she said that her daughter realized that she was in the wrong because because the elderly lady's husband had died well before she ever moved into the house.  

Before my partner moved in with me he was renting a small house.  It was lovely except the woman that owned it had her crack head daughter with her neglected kids living in it prior to his moving in.  He repaired, cleaned and offered to repaint the house interior if she would buy the paint.  He went and bought interior paint.  His landlady never repaid him for the paint which was only $34 total.  The water was horrible there because of a heavy iron content.  All the plumbing in the bath was stained red.  He managed to clean all of it and trace problem back to the pump house filter.   He got the manufacture name and he gave it to the landlady to buy a new filter which would set her back $12 for one or she could have purchased 5 for $50 and the filters were suppose to be good for at least 6 months each.  This was a farm house with no mortgage and he was paying her $400 a month.  She kept trying to pull the paint trick on my partner and he wasn't having it.  

Generally she never did any repairs or reimbursed him for any parts or materials when he would fix things.  I told him to not pay the last month's rent and let her keep the security deposit as last month's rent because I knew with her behavior she wasn't going to give him his security deposit back.  She threatened take him to court if he didn't pay the last month's rent.  I got him to take moving in pictures and the property was actually improved so she didn't have a leg to stand on.  But he would not believe me and paid the bitch his last months rent.  Just as I predicted the bitch didn't give him back his security deposit.  And I couldn't get him to file in small claims court he didn't want to be bothered with it.  He hates confrontation.  I jokingly called him a schmuck once and let it drop because why hurt our relationship for something I am sure he was already beating himself up about.  On the up side he is much more inclined to take my advice especially on financial maters.  I don't think I am Ian cheap but I am extremely frugal.

[NightFlight]

Amazing! I turned on the 'puter and first thing I read is this blog about rental property! My better half was at ours all this morning getting it sprayed for roaches from our last set of renters. They got us for two months rent before the wheels of justice got to spinnining Got them evicted and now we got some more. They just moved in and for some reason pulled the refrigerator out and busted the ice maker hose. I'm on my way in a bit to repair that. Thankfully Lowes is about 4 miles from it. Its always something breaking or burning out. I wish sometimes it was the double-wide
The strangest call was several years back when I had to go and dispatch an armadillo digging up the back deck foundation. Never had seen one up close and in person. I threw it in the field next door and I don't believe the buzzards ever touched it.

[blackie]

Why?

No Jews allowed in TX?

Because I'm a Yankee, maybe.


I'm pretty sure they have Jews in TX. They have a Holocaust Museum in Houston.

[ciscokid1024]

When my wife and I bought a new house about 10 years ago I wanted to sell the old house, but my wife wanted to keep it as an investment. She decided to handle all the details so I went along with it. She decided to rent to a friend of a friend without doing any kind of credit or background check.

About 3-4 years in she gets a call saying our house is in the news. The husband living there was some kind of security guard or something and he didn't like the neighbors dog so he shot it. He tried to run from the cops so they had him on the news from a helicopter. Somehow, I guess cause he knew some cops or something, he didn't have to go to jail.

The whole thing got me thinking that I didn't want them in my house. When I asked my wife about it she said they hadn't been paying the rent. She had tried to take them to court, but she didn't know the process so she dropped it. I asked her how much they owed us and she told me $7500. It had been going on for about a year. She didn't want to tell me about it because it had been her idea.

I went over to the house and they had a big screen TV and the wife, who didn't work, had just got her hair done. I told them they had to get out. They said OK and asked me to give them a good reference so they could move into an apartment. I said no problem as long as you get out!

After they left the house we took them to court and they tried to say my wife had told them they didn't have to pay rent, but our lawyer showed the judge my wife's records and a copy of the lease and we were awarded the $7500. They didn't have the money so the court garnished his wages. We got one check for about $250 and he quit his job and skipped town and we never got another cent.

To find new people to rent to we went through an agency who advertised the house and qualified the renters. The current renters they always pay on time and when something breaks we have a local handyman on retainer. They call him, he fixes the problem and sends us a bill. Everyone is happy now.

Then end. (I hope)

[TimeLady Victorious]

Why?

No Jews allowed in TX?

Because I'm a Yankee, maybe.


I'm pretty sure they have Jews in TX. They have a Holocaust Museum in Houston.

No, that's just there to show the Texans how to do it.

Alex Jones has informed me that Nazis are in charge of the state.