Apartment Complex Owners - Society's Biggest Fools ?

[Picaro]

Yeah because as an apartment complex owner I want my investment to be known as projects.....and no, people making below three times are not the best renters at all. If you want guaranteed payments, you do Section 8. If you are interested in not having our investment lose value, you do not rent to people who can barely scrap by.

"Scrape by" is not the criteria. Housing payment record is (assuming incomer and chosen rental rate are about the same)

If you are interested in not having your investment lose value, you do not rent to people who have high chance of eviction. That is young people with insecure JOBS (here today gone tomorrow), more so than retired people with secure Social Security and VA pension incomes.

They also don't like having a lot of kids around, another plus if one owns rental property.

I built a park area for the locals on my block, I live in an older plotted town, very large 'blocks' with a lot of land running through the middle behind the house plots. They want access they have to keep it clean and not tear all the stuff up. Works out fine. I have a large truck garden, about 5 acres, and some pasture, some of the neighbors rent plots for gardens, one has a horse grazing there, and the kids have about 4,5 acres to themselves.

 

[protectionist]

So they weren't supposed to check credit scores? Just sell, on credit, to whomever walked through the door? No wonder you don't have any money left.

That is a typical WRONG assumption, made by the same type of people I'm criticizing. I gave credit to over 400 people in my 10 years of business ownership. Of those, ONE screwed me, and I simply cancelled his membership. He took me to court. He lost. I never looked at (or paid for) a credit score.

Some people think that because a practice is widely accepted, that automatically means it's good. Not always.

 

[protectionist]

Just don't call him a "dumbass". He will call the Sheriff on you and you will go to jail.

Maybe, and maybe YOU too. Or maybe you can call them yourself , and turn yourself in. They might go easier on you that way.

Hillsborough County Sheriff's Office - Home

 

[protectionist]

It could be an unintended consequence of an existing regulation. Let me explain...

Some (many?) states do not allow people to garnish social security, disability, or welfare payments. This means if a disability recipient rents my house and trashes it, I can take them to court for damages, but I can't garnish their gov't income....which means I'll never get the money.

Result? I don't count those as sources of income.

Try doing your job and vetting all new tenants.
3 times the amount of the rent is why there are so many homeless people!! It's ridiculous! (And I know from experience since I am now retired from 45+ years as a property manager. I NEVER asked 3 times the rent. And I ALWAYS had great tenants).

Of course. 3 times the rent is idiocy. It causes LOSSES to landlords. The best renters are older retired people, with STABLE incomes.

 

[protectionist]

This is the typical mentality of the modern 'business community' out there these days. They think they can raise their prices indefinitely while doing everything possible to hold wages down and drive them even lower, and still have all kinds of customers. They papers claim there is some sort of 'boom' going on, so they raise their prices, only to find there is no 'boom' for wage earners, just for those selling to flippers. And, even that 'boom' is faltering.

I'm still laughing at the tards who built those big high end houses in the neighborhoods around here, still sitting there with 'For Sale' signs on them a year later, built with cheap criminal illegal alien labor and worth less than half of what they need to sell them for to break even. Meanwhile I'm having to kick out for appraisals every year because the County loves to jack up real states taxes based on these ridiculous 'appraisals' on these idiots' over-built junk piles they haven't even sold yet.

You ought to sue those dumbasses, for the extra property tax $$$ they cause you to pay.

 

[WinterBorn]

Just don't call him a "dumbass". He will call the Sheriff on you and you will go to jail.

Maybe, and maybe YOU too. Or maybe you can call them yourself , and turn yourself in. They might go easier on you that way.

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Hillsborough County Sheriff's Office - Home

I’ve already called you a “dumbas”, dumbass. No cops have come to get me.

 

[Picaro]

This is the typical mentality of the modern 'business community' out there these days. They think they can raise their prices indefinitely while doing everything possible to hold wages down and drive them even lower, and still have all kinds of customers. They papers claim there is some sort of 'boom' going on, so they raise their prices, only to find there is no 'boom' for wage earners, just for those selling to flippers. And, even that 'boom' is faltering.

I'm still laughing at the tards who built those big high end houses in the neighborhoods around here, still sitting there with 'For Sale' signs on them a year later, built with cheap criminal illegal alien labor and worth less than half of what they need to sell them for to break even. Meanwhile I'm having to kick out for appraisals every year because the County loves to jack up real states taxes based on these ridiculous 'appraisals' on these idiots' over-built junk piles they haven't even sold yet.

You ought to sue those dumbasses, for the extra property tax $$$ they cause you to pay.

I wish I could sue the assholes, but it ain't illegal for idiots to over-build; all I can do is kick out for appraisals and fight them at the County tax appraiser's office.

 

[protectionist]

I’ve already called you a “dumbas”, dumbass. No cops have come to get me.

I never called them. Should I ? I'll let you decide,

Now shave off that stupid beard, before you get it caught in a machine.

God, I have to counsel everybody.

 

[Dekster]

Yeah because as an apartment complex owner I want my investment to be known as projects.....and no, people making below three times are not the best renters at all. If you want guaranteed payments, you do Section 8. If you are interested in not having our investment lose value, you do not rent to people who can barely scrap by.

"Scrape by" is not the criteria. Housing payment record is (assuming incomer and chosen rental rate are about the same)

If you are interested in not having your investment lose value, you do not rent to people who have high chance of eviction. That is young people with insecure JOBS (here today gone tomorrow), more so than retired people with secure Social Security and VA pension incomes.

Old people who never freaking move on fixed incomes guarantee your rent revenues will be flat forever.

 

[protectionist]

Old people who never freaking move on fixed incomes guarantee your rent revenues will be flat forever.

Better flat than non-existent.