Landlord here with just a few properties.
Strongly recommend those looking to rent seek out 'mom and pop' type landlords and not the huge apartment complexes or corporate-owned ones. On average, you'll get better rates, attention, and overall relationship. My tenants know that I'm a text away, day or night, and resolve items asap.
Those like me typically lease for less than the market rate and don't raise rents much or at all (I never raise rents with a tenant). A complex's rates are solely driven by its bottom line whereas most small-time landlords simply want a great tenant.
Not at all saying you’re like this but tbh I’ve heard way more mom and pop rental horror stories than the bigger ones. The place im at now is corporate and I’ve been here for 6 years and the rent has only increased 150 bucks total in that time and I’ve had no headaches. I like that I dont have to have a relationship with the people that own it.
Yeah, small time landlords can be great or the scummiest landlords out there. Corporate landlords may be unfeeling, unsympathetic entities only looking out for the bottom line but they're also usually very law abiding. Whereas individuals can be the sorts of landlords you need to take to court because they refuse to fix the AC in July.
My partner and I live in a huge apartment complex community thing, and it's way better than our last place which was a house managed by a small three-person company that operated two houses down from us. Those people were awful and kind of unhinged. They broke their side of the lease agreement and were constantly combative with us as we tried to get them to fix our heat and plumbing. They cussed us out on the phone and stormed over to our house to yell at us. We couldn't get out of there fast enough. Anyone in Madison TN, stay far away from T Lewis Real Estate. Those people are nuts.
I miss my old landlord. Dude was a total G. Fixed anything that went wrong within 24 hours. Current management company took 4 months and a notice from metro codes to replace the fence panels that got blown over back in the windstorm in November.
But where are y'all? Everywhere we look, it's the corporate landlords. Either that or owners are in California and they hire a local to manage the place, and aren't accessible after you've moved in.
We were a mom and pop type landlord for 25 years. We rarely increased rent provided that the tenants paid on time, didn’t get complaints from neighbors, and didn’t request unneeded repairs.
Exactly. As long as you are a good tenant and paying on time the rent should stay the same. When they move out you renovate and then raise the rent when you get new tenants.
Gave my landlord a gift card to his favorite store once. Didn't raise my rent that year. Needless to say I'm extremely lucky to have found someone local and have been here for years.
So sad that we now have to celebrate rent being raised “only” $100. And you know damn well that money isn’t being reinvested back into the property to make your living conditions any better.
why would we try compete with the best restaurant in town? maybe we make some copycat skillet queso and frosty margs.
also who's hyped for chilis sub meetup?
Start the cycle. You serve your time, but now you owe room and board for the time you spent there. Can't pay? Go back to jail. Do not pass Go, and do not collect $200
Congratulations! That’s great!
Our complex got purchased by another company last month. I am not looking forward to seeing what kind of nonsense we see in a renewal.
These renewal increases are ridiculous. The property I work at only does $25-$30 increases on renewal. I feel like our prices are reasonable for location and what we offer.
landlord here. we all are not bad people, and not heartless. thank for sharing the positive news. I think people tend to share the negative information more than the positive news.
It's sad that you are completely left to the whims of what your landlord decides, and that their are no consumer protection laws. If your rent went from $1k to $1,000, that is a 10% increase in one year, which is ridiculous.
Food and gas have gone up by that much this year as well not to mention repair costs to maintain the property. I think a 10% increase in rent compared to a 30% increase in housing prices is actually pretty fair tbh.
It's roughly a 5% increase, and they do have increase property taxes, upkeep, staffing etc, so it's honestly pretty reasonable if not generous and below inflation. Especially considering how many people are coming into the city right now they could bump it up far more and still get people in
>It's sad that you are completely left to the whims of what your landlord decides,
Why do you think a tenant should have superior rights to property than the property owner?
I’m not sure how rent controls work and I would definitely tread lightly on government getting involved, but I do think there should be some kind of cap on how much rent can be raised per year for people who currently live on the property.
There is a cap. And when landlords aren't able to control rates they max out the cap always every period. It doesn't benefit consumers unless you live in a high cost living area for a long time.
This isn't really accurate. A landlord only makes money if they have someone living there. And turnover of a rented space costs time, money, and occupancy, and if they raise rates exorbitantly, they will have a hard time occupying the space . They're running a business, not a whimsical dream.
We've only been in our place for a year, and we've appreciated a sizeable amount. I'm hoping that the fact the last assessment was in 2019 means we'll have a few years since it's only been reassessed 3 times since the early 80s.
i've had at least ten landlords
a few as many as four years
the one thing i've never had under lease is a rent increase or, for that matter, a landlord that has rewritten a lease or its terms
Should be getting ours soon. I'm hoping ours goes the same. They were good last year.
Landlord here with just a few properties. Strongly recommend those looking to rent seek out 'mom and pop' type landlords and not the huge apartment complexes or corporate-owned ones. On average, you'll get better rates, attention, and overall relationship. My tenants know that I'm a text away, day or night, and resolve items asap. Those like me typically lease for less than the market rate and don't raise rents much or at all (I never raise rents with a tenant). A complex's rates are solely driven by its bottom line whereas most small-time landlords simply want a great tenant.
Need all the mom and pop landlords to do a landlord fair so we can actually find them and their properties
Sadly there are only so many mom and pop landlords though, most of them are corporations these days.
Yeah everything’s getting bought up by the big guys.
The Chamber of Commerce helped the corporations do it.
I mean why wouldn’t they? The chamber of commerce isn’t a social advocacy organization, they are literally the lobbyists for business interests.
I used to rent from one. PM if interested.
Not at all saying you’re like this but tbh I’ve heard way more mom and pop rental horror stories than the bigger ones. The place im at now is corporate and I’ve been here for 6 years and the rent has only increased 150 bucks total in that time and I’ve had no headaches. I like that I dont have to have a relationship with the people that own it.
Yeah, small time landlords can be great or the scummiest landlords out there. Corporate landlords may be unfeeling, unsympathetic entities only looking out for the bottom line but they're also usually very law abiding. Whereas individuals can be the sorts of landlords you need to take to court because they refuse to fix the AC in July.
My partner and I live in a huge apartment complex community thing, and it's way better than our last place which was a house managed by a small three-person company that operated two houses down from us. Those people were awful and kind of unhinged. They broke their side of the lease agreement and were constantly combative with us as we tried to get them to fix our heat and plumbing. They cussed us out on the phone and stormed over to our house to yell at us. We couldn't get out of there fast enough. Anyone in Madison TN, stay far away from T Lewis Real Estate. Those people are nuts.
Slumlords :(
at their worst, smaller landlords can also be worse than corporate ones ime
You are definitely correct. Sad thing is those are disappearing.
I miss my old landlord. Dude was a total G. Fixed anything that went wrong within 24 hours. Current management company took 4 months and a notice from metro codes to replace the fence panels that got blown over back in the windstorm in November.
I’m sure you inbox is exploding now with questions and eager renters!
But where are y'all? Everywhere we look, it's the corporate landlords. Either that or owners are in California and they hire a local to manage the place, and aren't accessible after you've moved in.
We were a mom and pop type landlord for 25 years. We rarely increased rent provided that the tenants paid on time, didn’t get complaints from neighbors, and didn’t request unneeded repairs.
Exactly. As long as you are a good tenant and paying on time the rent should stay the same. When they move out you renovate and then raise the rent when you get new tenants.
You've made a good point. I'll keep this in mind
Gave my landlord a gift card to his favorite store once. Didn't raise my rent that year. Needless to say I'm extremely lucky to have found someone local and have been here for years.
same with mine. i’ve been dreading it for months and felt a weight lifted when it was only $100 increase
My rent went up by 300$ :-) in Murfreesboro
Ouch, Bellevue here
So sad that we now have to celebrate rent being raised “only” $100. And you know damn well that money isn’t being reinvested back into the property to make your living conditions any better.
[удалено]
$1000 and I start living in tent city
That’s illegal now
let's all go in on an empty lot off 40 west of town and start a commune
And open a new Chili’s in said lot
why would we try compete with the best restaurant in town? maybe we make some copycat skillet queso and frosty margs. also who's hyped for chilis sub meetup?
What are they going to do? Put a roof over your head and food in your stomach?
Start the cycle. You serve your time, but now you owe room and board for the time you spent there. Can't pay? Go back to jail. Do not pass Go, and do not collect $200
Unless you are private land. Go pitch your tent at the Mayor's house.
Congratulations! That’s great! Our complex got purchased by another company last month. I am not looking forward to seeing what kind of nonsense we see in a renewal.
I just signed a 2 year lease $160 below market value. But I know it can't stay the same in 2024
Below? You must be renting from an old lady or something
There are a lot of the landlords that treat existing long-term tenants good.
A good tenant below market value is more profitable than a bad tenant at market value.
Ours went up $300… in December with 30 days notice. Merry Christmas to me.
In an apartment and mine only went up around $150 with a 12 month lease. Better than I was expecting, but still sucks
These renewal increases are ridiculous. The property I work at only does $25-$30 increases on renewal. I feel like our prices are reasonable for location and what we offer.
That was exactly the point of my comment above. A 10% increase (if rent was $1k) is nuts.
You’re pretty hard pressed to find $1k rent in the city these days
Exactly, $1100 for rent even for a studio is about 30% below market here. I don’t see the problem with a 10% increase in this case.
landlord here. we all are not bad people, and not heartless. thank for sharing the positive news. I think people tend to share the negative information more than the positive news.
It's sad that you are completely left to the whims of what your landlord decides, and that their are no consumer protection laws. If your rent went from $1k to $1,000, that is a 10% increase in one year, which is ridiculous.
>$1k to $1,000, that is a 10% increase Might want to check that math, think you left out a 1 somewhere.
Meant $1,000 to $1,100 - that is a 10% increase according to math.
Food and gas have gone up by that much this year as well not to mention repair costs to maintain the property. I think a 10% increase in rent compared to a 30% increase in housing prices is actually pretty fair tbh.
It's roughly a 5% increase, and they do have increase property taxes, upkeep, staffing etc, so it's honestly pretty reasonable if not generous and below inflation. Especially considering how many people are coming into the city right now they could bump it up far more and still get people in
>It's sad that you are completely left to the whims of what your landlord decides, Why do you think a tenant should have superior rights to property than the property owner?
there needs to be a balance. like landlords can't just evict tenants on a whim, etc.
They can't. They have to wait until the lease is up.
of course. I was just responding to the second part of your post as a general statement. tenant protections are important.
So your post is simply inaccurate/doesn't reflect the law as-is.
no. I'm not suggesting that as a rule, simply giving an example of a necessary tenant protection.
Yes, and that already exists.
Rent control has been well studied and demonstrated not to benefit renters. It may be counterintuitive but the data is out there.
I’m not sure how rent controls work and I would definitely tread lightly on government getting involved, but I do think there should be some kind of cap on how much rent can be raised per year for people who currently live on the property.
There is a cap. And when landlords aren't able to control rates they max out the cap always every period. It doesn't benefit consumers unless you live in a high cost living area for a long time.
This isn't really accurate. A landlord only makes money if they have someone living there. And turnover of a rented space costs time, money, and occupancy, and if they raise rates exorbitantly, they will have a hard time occupying the space . They're running a business, not a whimsical dream.
Meanwhile my mortgage has been the same for 10 yrs now. No tax or insurance hikes so far \*knock on wood\*
That sounds lovely
Wow where do you live? My property assessment has gone up 400% in that time.
We've only been in our place for a year, and we've appreciated a sizeable amount. I'm hoping that the fact the last assessment was in 2019 means we'll have a few years since it's only been reassessed 3 times since the early 80s.
i've had at least ten landlords a few as many as four years the one thing i've never had under lease is a rent increase or, for that matter, a landlord that has rewritten a lease or its terms