who invented paying rent over $400 a month why do we have to pay so much? is there a way where we can vote for lower rent cost? what can we do so rent can be at least 40% lower than what it is now?
2007-06-21 09:49:56 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Greedy landlords...increased cost of living...Rent sucks. There's not much you can do to lower rent, except to stop renting!
2007-06-21 09:57:42 · answer #1 · answered by Surf Forever 5 · 0⤊ 1⤋
Wake up and smell the coffee. We're in an inflation cycle, the price is raising on everything. Noticed the price of real estate , gas, food as compared to 10 years ago. When an investor buys a property generally for the first 4-5 years the investor is paying the mortgage with a combination of rent and his own funds. As rents rise the property finally starts to pay for itself.
If you want a stable payment that doesn't rise, buy a house/condo and get a fixed rate loan. With a fixed rate home loan your payment stays the same for 30 years. There are some good first time homeowners programs out there. Your best revenge is to stop renting and become a homeowner. Go talk to a real estate agent.
2007-06-21 17:07:07 · answer #2 · answered by Diane 3 · 0⤊ 0⤋
I'm not sure where you are renting, but in most markets, the landlord is in the business to make a living (pay his own bills, feed his children, take a vacation now and again, and save for retirement, if possible).
If you have never owned real property, you may not have a feel for how EXPENSIVE that can be.
Your landlord may be making mortgage payments on the building, plus insurance (which is getting higher every year), maintenance costs, employee salaries, employee taxes and benefits (if the landlord has a staff to help him), real estate taxes (also ugly), utility bills, repair bills, replacement of broken appliances, freshening units for new tenants (paint, cleaning, new carpet, whatever), landscaping and lighting.
In addition, the landlord has to absorb deadbeats who don't pay the rent, damage their units, steal appliances, scare away other tenants, and basically cost him/her big time on the bottom line.
It's not an easy business, and many landlords make a very modest living - and deal with a huge amount of aggravation, trying to please their tenants, who don't really give a hoot.
I suggest you put a plan in place to be your own landlord - start now working on a schedule to buy your own home and stop throwing your rental $$$ out the window.
2007-06-21 17:01:30 · answer #3 · answered by venicefloridarealtor 4 · 1⤊ 0⤋
I bought this duplex and the rent was pretty low so I painted and fixed it up and spent $ so it would look better and I raised the rent a bit to pay for it. Then the city took us in and my taxes doubled so I raised the rent. Then there was this hurricane somewhere else and my insurance went through the roof. I basically do not make a profit on my place. I'm lucky to break even. So I do all this work for equity sake only. I raise rent as expenses like repairs, taxes and insurance go up. And then I get those tenants that just tear my place up and it costs me more so I have to charge more to cover the next idiot that tears my place up or breaks his lease and moves and then I have to pay to clean it up and repaint. No matter what I do this year I will have another loss. The apartments are perfect and they are so very nice. Why don't tenants take care of them?
2007-06-21 16:59:58 · answer #4 · answered by towanda 7 · 1⤊ 0⤋
I don't know. Everything cost a lot like gas, clothes, and food. I hate that. We people are going to get poor because we can't afford anything.
2007-06-21 17:01:08 · answer #5 · answered by мαɢɢιє 4 · 0⤊ 0⤋
we have to pay so much because first the house or apartment where you live have to be paid, maintenance, painted, repaired, ect. And none of those thing are cheap. Don't get me wrong I know where you coming from.
2007-06-21 17:00:41 · answer #6 · answered by Lee s 2 · 0⤊ 0⤋
thats hardly anything. less property there is available more money it costs. its the whole supply and demand thing. why don't you buy your own property and build your own house if you don't want to pay rent.
2007-06-21 16:57:54 · answer #7 · answered by brk 4 · 0⤊ 0⤋
You have to pay so much rent, because your landlord has to pay so much mortgage. Its called inflation.
2007-06-21 16:58:24 · answer #8 · answered by Face on Fire 5 · 1⤊ 0⤋
Because the prices of EVERYTHING is so high nowadays. And sadly, no one's income is really going up that quickly!
2007-06-21 18:06:08 · answer #9 · answered by Cookie On My Mind 6 · 0⤊ 0⤋
yeah i know the price of rent, gas, food, car...everything these days...
2007-06-21 16:57:22 · answer #10 · answered by bubblegumluver88 3 · 0⤊ 0⤋