The rental house market is pretty lucrative. If so many people weren't in the renting market, this type stuff would go away. Rent prices are totally absurd.
When you've got a so many people who signed up for a huge pile of student debt and a bunch of credit cards they can't pay, and the total inability to save the tiny percentages of money required for something like an FHA down payment, then they can't buy a house. Add to that all the people that are just too damn afraid that something might go wrong they pay a landlord for eternity more than it costs to maintain and repair the house and here we are.
^this pretty much. I’m looking to purchase a house soon and the market is so fucked that I’m renting while trying to improve my credit so I can at least get a 97 loan instead of a shit tier FHA one. It’s reaaallll easy to look at the market and go full doomer
Add to that all the people that are just too damn afraid that something might go wrong they pay a landlord for eternity more than it costs to maintain and repair the house and here we are.
Sometimes I wonder if you could just put a property manager on retainer to have them find contractors and schedule repairs for your own house that you then paid for out of pocket.
Depends on the condo. Some have per-unit hot water heaters and heaters/air conditioners for example, in which case the owner would have to deal with it. But yeah things like roofs and siding would be done by the condo board.
I just got spoiled when I owned a rental where I hired a property manager being able to let the property manager deal with all the maintenance logistics. I was fine being the cutter of checks as long as the property manager dealt with finding good contractors and dealing with scheduling.
The rental house market is pretty lucrative. If so many people weren't in the renting market, this type stuff would go away. Rent prices are totally absurd.
When you've got a so many people who signed up for a huge pile of student debt and a bunch of credit cards they can't pay, and the total inability to save the tiny percentages of money required for something like an FHA down payment, then they can't buy a house. Add to that all the people that are just too damn afraid that something might go wrong they pay a landlord for eternity more than it costs to maintain and repair the house and here we are.
^this pretty much. I’m looking to purchase a house soon and the market is so fucked that I’m renting while trying to improve my credit so I can at least get a 97 loan instead of a shit tier FHA one. It’s reaaallll easy to look at the market and go full doomer
Sometimes I wonder if you could just put a property manager on retainer to have them find contractors and schedule repairs for your own house that you then paid for out of pocket.
That's not so dissimilar from the condominium model, right?
Depends on the condo. Some have per-unit hot water heaters and heaters/air conditioners for example, in which case the owner would have to deal with it. But yeah things like roofs and siding would be done by the condo board.
I just got spoiled when I owned a rental where I hired a property manager being able to let the property manager deal with all the maintenance logistics. I was fine being the cutter of checks as long as the property manager dealt with finding good contractors and dealing with scheduling.