OT Any landlords here?

[MARIS61]

My son's family needs to find a rental house somewhere in the Portland Vancouver area. 2 adults, 2 kids, a couple dogs. They've leased the same house for 8 years at $1,400 per month, but the owners now have relatives who need it. They have jobs in Happy Valley and West Portland, willing to commute if needed. Need it by July 1.

 

[Shaboid]

My son's family needs to find a rental house somewhere in the Portland Vancouver area. 2 adults, 2 kids, a couple dogs. They've leased the same house for 8 years at $1,400 per month, but the owners now have relatives who need it. They have jobs in Happy Valley and West Portland, willing to commute if needed. Need it by July 1.

How dare you let your family live in that liberal cesspool...

 

[donkiez]

Hate to be a wet blanket but they will probably be paying significantly more than $1400 now. Probably closer to $2400 with what they will need.

 

[MARIS61]

How dare you let your family live in that liberal cesspool...

Individual Freedom is the foundation of America.

Ideally, they'd prefer outer SE (Clackamas County).

 

[MARIS61]

Hate to be a wet blanket but they will probably be paying significantly more than $1400 now. Probably closer to $2400 with what they will need.

Fake Elections have consequences. #walk away

 

[barfo]

For $1400, I can offer them conveniently located space near downtown. 12-month lease required. Background check required. First and last plus deposit.

barfo

 

[SlyPokerDog]

For $1400, I can offer them conveniently located space near downtown. 12-month lease required. Background check required. First and last plus deposit.

barfo

pet friendly?

 

[Chris Craig]

For $1400, I can offer them conveniently located space near downtown. 12-month lease required. Background check required. First and last plus deposit.

barfo

How many bathrooms?

 

[GriLtCheeZ]

How many bathrooms?

As many as you want.

 

[MARIS61]

For $1400, I can offer them conveniently located space near downtown. 12-month lease required. Background check required. First and last plus deposit.

barfo

Is your Mom taking her stuff with her when she moves out?

 

[SlyPokerCat]

Convince them to move to beautiful Central Oregon.

 

[SlyPokerDog]

 

[Phatguysrule]

Individual Freedom is the foundation of America.

Ideally, they'd prefer outer SE (Clackamas County).

Yep, they'll be paying over $2k for sure.

 

[BlazerWookee]

How many bathrooms?

One great big one

 

[Fairly-Hard]

Hate to be a wet blanket but they will probably be paying significantly more than $1400 now. Probably closer to $2400 with what they will need.

Yeah my rentals all go $2200-2600.
You simply cannot afford to rent houses much less any longer. Unless it’s really small.

 

[MickZagger]

Yeah my rentals all go $2200-2600.
You simply cannot afford to rent houses much less any longer. Unless it’s really small.

Utilities must have really gone up? Or you’re part of the problem?

 

[bigbailes]

Yeah my rentals all go $2200-2600.
You simply cannot afford to rent houses much less any longer. Unless it’s really small.

Honest question ... why is it that "you simply cannot afford to rent houses much less any longer"? The property taxes spike? The less you charge the more difficult the tenant is? I've never been a landlord but am thinking about buying a rental property if things go to shit in the market and can find a good deal.

 

[PtldPlatypus]

Honest question ... why is it that "you simply cannot afford to rent houses much less any longer"? The property taxes spike? The less you charge the more difficult the tenant is? I've never been a landlord but am thinking about buying a rental property if things go to shit in the market and can find a good deal.

I also wonder about the logistics of being a landlord, and basic considerations behind pricing. For example, my overall payment on my little 1000 sqft house is about 1400 (P&I/tax/ins). If I were to want to move and rent it out, how much on top of my cost do I add to account for expected maintenance costs? Am I (as others might suggest) "part of the problem" if I want to profit from renting out my house?

 

[Phatguysrule]

Utilities must have really gone up? Or you’re part of the problem?

That doesn't include utilities. Why would you charge less than market rate?

 

[Shaboid]

My family owns a few rentals, but we generally rent out to family and friends at about cost. We have enough profit to pay for any small repairs and maintenance, but we look at these properties as long term investments. As long as it cash flows, that's all that matters!

 

[Fairly-Hard]

Utilities must have really gone up? Or you’re part of the problem?

Everything has gone up.

 

[THE HCP]

Everything has gone up.

BigTime

 

[THE HCP]

House just went up for rent in our neighborhood…… how can people afford this? Why would you want to afford this?

 

[THE HCP]

Especially in such a shithole of a city right?

 

[Phatguysrule]

My family owns a few rentals, but we generally rent out to family and friends at about cost. We have enough profit to pay for any small repairs and maintenance, but we look at these properties as long term investments. As long as it cash flows, that's all that matters!

This is what I'm doing as well. Actually, I've bought houses that need work and helped my younger family members into them by doing rent to own.
After a few years the property increases in value enough that they can easily finance the large repairs. And they generally pay less than going rate for a rental apartment, and they learn how to be a homeowner.

I was going to rent them originally, but I don't have time to fix them up with 3 kids in sports year round.... Shit, we're lucky if we have clean laundry...

 

[Phatguysrule]

Especially in such a shithole of a city right?

I hear the neighborhood MILFS put out. There's a lot of value in that...

 

[Chris Craig]

House just went up for rent in our neighborhood…… how can people afford this? Why would you want to afford this?

View attachment 47298

That's just pure greed

 

[Hoopguru]

House just went up for rent in our neighborhood…… how can people afford this? Why would you want to afford this?

View attachment 47298

5 bedroom perfect for 5 friends that split cost.
When I was 18, 3 pals and I rented a four bedroom and split the cost. We were in it for about 3 years as that was the lease time.

 

[THE HCP]

A bit of a better deal, but still. Scared to think about what it’s going to be like in about 6 years or so when my kids will want to rent a house.

 

[Chris Craig]

5 bedroom perfect for 5 friends that split cost.
When I was 18, 3 pals and I rented a four bedroom and split the cost. We were in it for about 3 years as that was the lease time.

Looks like they may be counting the attic and basement as bedrooms.

A grand a piece...that's terrible.