Why is it so hard to rent a house reddit

I can also rent comparable homes in the new area for $3-4k a month. Because the rentals as an investment is shit at the moment. Give it a few months and apartments will be easy to get if you are stable and with an income. Once rent forgiveness ended and you hadn't paid in 4 months, they wanted all that back rent. 41M subscribers in the AskReddit community. Edit: Consensus from commenters is 1. Many houses sold as leaseholds (in Northern Ireland or in England) are on such terms that there is little practical point in acquiring the freehold title, even though it is typically quite easy to do so for most houses via a Tribunal. But with renting, I'd be getting 3hrs+ each day, the same amount I'd probably be spending on the road. Most people that are old, often own the house's and often are hard to sell. One dimensional thinkers like you is why I wanted to share this meme, b/c you can only see the balding middle aged landlord exploiting renters. Use this subreddit to get advice on renting or buying accommodation in the UK, or to have civil discussions about it. This might be hard if you don't speak Chinese, but on WeChat groups there are no shortage of Asian landlords that sniped these houses for cheap many years ago as investment properties. After you filter the people who rent only to polish people and the scams you're left with very little places that probably will rent to someone else. Not worth it to me anymore. Maybe its just more popular in Japan because it represents a facet of their culture that hasn't gotten They leave long-lasting smells (often the owner gets nose blind so doesn't realise). So they don't need to do any work on the place and can have dire customer service. Statistically owner occupied properties are much more likely to have empty bedrooms compared to tenant occupied properties. I've been trying to find a flat for rent in Kodambakkam area for like few months, it's just a terrible experience so far. Believe me, if you lowered rent to $100, you would get a flood of qualified candidates. So rent Yeah, but your kids have to be a bit extreme if you are thinking of charging them rent. . My second guess, the taste for French house is oddly specific, uncommon & niche. to pay a part of the cost if the city decides to repave the road outside their house). Multiply that by 3. I pulled out the cash for the 12 months of rent and deposit and laid it on the table. Depends on your finances. $600,000 per year to operate. Maybe they meant “shorter”. Reply reply. The affordable housing situation is in absolute crisis right now across the country but for some reason the government and press are largely ignoring it. So crazy. If it's a flat, the landlord may also be a leaseholder rather than the freeholder. I saw a 3bd apartment for a song that was just grimy and with mildew smell. These are investors, whether individuals or businesses, who are buying real estate to rent or hold as an investment. They leave allergens. Don’t forget interest rates are way up so people who wanted to buy are stuck doing rentals. For instance, often, renting in London isn't actually crazy more expensive than paying a mortgage. its not really to do with noise, its damage and allergies. I gave one offer last Wednesday and the agent said they’ll come back to me within 2 days , and it just kept pushing it , yesterday they said it’s going to be I know houses are being built but obviously not enough to keep pace with demand for the last 40 years. So welfare rental rates have gone up crazily in the last decade or so, and regular rents have followed the trend. It’s better to wait for Prima to offer you a house on property pool. A single shitty tenant who damages the property can cause you to lose money for years. I know I can't be the only one who is just sick and tired of the endless stream of people who complain about RE prices. Rent control policies can lead to housing shortages because over time, it makes building new housing a worse and worse investment. 🙄 My peers are young and I know plenty of people where renting does help them sleep soundly at night so they can live their care free life right now and not deal with "adult responsibilities" with Yes I made offers through normal procedures, but agent said it’s up to landlords to choose who they will rent to , and i can’t contact landlords directly , only through agents…. The local council makes proft, the rent for a three bedroom house is £577. It depends on you. You need money to buy a house, way more than renting one. Whenever I’ve lived with couples they’re always in the lounge and you feel like you’re third wheeling, or taking up all the bench space but you can never push back, because it’s 2 against the rest of the Flatties. So, a total annual required rent of $3,500,000. My assumption, a rent evulaton was never done on the house that I'm living and the council came up with a number. Yes there will be 10 people in line. Seems like waaaaaay more institutional landlords now… Now a lot of the same people who cheered eviction moratoriums are wondering why rent is going up so high. So there was a large decrease in rental units in the city. Reply. But in Berlin, it's even hard to get a normal flat, a basic four walls. Rent VS Buy In This Market - A Perspective From A Former Homeowner. They raise the risk of damage, especially urine damage which can be long-lasting and very difficult to fix. Tolet boards are rare and brokers are asking 1 month rent as commission and the houses they're showing looks like OLD BHOOT BANGLA lol. Because it is. Luckily i managed to view a prperty that i love and the guy showing me around seemed to like me, so it got offered to me. Until then, I choose to rent for many reasons, such as: Owning a house is still a better leverage for every serious uncertainties in life, losing a job, failing health, economic downturn, etc. People trying to get free money by simply owning a house drives house prices up. While I agree it shouldn't be as much as a nightmare as it is, everyone will say their dog "barely barks" unfortunately. You build equity, you have some tax deductions, capital gain is tax deductible up to 250k per person, you can use renovation projects to up the cost basis to save even more taxes, the house itself appreciates, renovations make it appreciate more (but you get to enjoy them too!), etc etc etc. So that's currently a no go. 6M subscribers in the NoStupidQuestions community. 17x. icedivy. Consider that average household income is skewed in Perth because of higher incomes at one end of the market. Lower property taxes won’t touch rent. My neighbour got a mortgage on the house, I One redditor gave me a very in depth answer. So car payment, student loans, minimum credit card payments, etc. I found more if I was willing to go down to one bathroom or live out in Sandy or Draper or Kearns. I found a couple houses in Sugarhouse and South Salt Lake that fit my specs: 3+ bedrooms, 2+ bathrooms, well-maintained, yard, close to public transportation, in a safe neighborhood. Housing is nowadays considered to be an investment, no a place to live. Housing authorities are completely out of temporary emergency housing and are handing tents to people. I spent all my money plus borrowed 5k from 401k just to do it, so it is hard, I was just trying to say it might not be as hard as some think. For me, probably in my late 30s or 40s. Technical-Whole-4769. Tons of people are going to be taking on extra roommates or moving in with parents to salvage their economic situation, and landlords will have a really tough time finding new tenants. I see a lot of people asking the question similar questions right Renting a Home in Las Vegas 2021. ) Reply reply. You may have a better chance looking for a short term commercial fully furnished rental for 3-6 months and once set up here looking for alternative long-term housing. If your name doesn't sound "german" or at least "western", you have a harder time to find someone to rent from. tossgloss10wh. So the ratio of house price should be closer to 6. So, if you move-out of the apartment and it sits vacant for just one month, they lose $1,300 (plus any additional costs to list, show, clean, paint, etc. All this is artificially pushing up price and demand. ADMIN MOD. Now that more of us can afford them, we're blamed for killing the real-estate industry by making it too expensive. While you should get maybe a fancier one due to your skills. This also means that there are fewer people competing for jobs, which can keep wages low. After reading tons of posts on here and helping renters myself, I felt like I should make a post to help you (or the people that you know) understand the current situation and requirements for renting a home in Las Vegas. There's a community housing network group on facebook that's good for shared housing. It costs ~$5-10-15k to move a trailer home and the vast majority of residents don't have that sort of savings so the majority will whine a lot about lot fee increases but can't afford to relocate to a different park. Award. The county has a rich and diverse history, dating back to the ancient, monolithic civilisations that once inhabited our shores, and it remains a popular destination for The minimalism in FH is so strong & holds up after so many years. All the olx ads are mostly brokers with very old dabba houses with rent range 15-20k -_-. Dublin has it worse because of the amount of very high tech workers pulling in €100k+ who don’t mind spending 2-3k on rent. There needs to be another name on the leasing contract, cause agencies do prefer couples for such houses and give studios for single applicants. Building costs rise with inflation, while the amount of money landlords are capable of earning by renting out units stays the same. Tell them if you don't get a reduction in rent, say half of the $108, settle at $50, then you will move out. Without the filter, I see homes on the market staying there for 50+ days, despite being nice-looking and in good neighborhoods. Facebook Marketplace is surprisingly a good place to search! Craigslist and usedvic are also decent. Is there a non-cynical reason as to why more houses aren't built? Maybe one piece of advice. ). ) the story doesn't progress at all - after many chapters of manga - which gives low hopes for the anime, even though it got a second season. Max you can “pay” will be determined by debt to income ration. Long answer. I sold a run down property and when I looked at renting a lake house they talked about people who applied ahead of me. Also a PhD salary is rarely good enough to afford a 2. You can get HBO NOw for 15 bucks a month. These institutional landlords are usually much more cutthroat and squeeze more money out of each rental. I think the number is 45%, so your income is $55k, your maximum debt payment per month is just over $2,000. Or, in other words, using the $872,934 from above, the median cost for a house should be around $600k. Yes, it's fucking impossible. r/AskReddit is the place to ask and answer thought-provoking questions. Prices weren't that bad at blockbuster or family video (they actually still have these where I live) and you can definitely rent cheaper at redbox. You need a better property management company. TL;DR: prospective rental house tenants wondering why rental HOUSES generally do not allow pets, which is causing us to hesitate adopting cats at our current pet-friendly townhouse apartment despite wanting them very So a few months ago the house nextdoor got some new tenants but the weird thing is they dont live there, every few weeks theyll visit for an hour tops and then leave again. Housing. Even 1k+ rooms, anything that's half decent will get dozens/hundreds of messages. House hunting itsself is shockingly hard and they go as quick as they get put up. if you cannot find one, it means your rent is too high. Otherwise, call around to local property management companies and inquire with them - they may have a client or two who would be interested. This post is more specific to a 3-bedroom house in Las Vegas. Thanks. Most people want a house to live in because they don’t want to live in an apartment or with family. It's not an uncommon problem in markets with high housing demand, or a good outlook for property values increasing. This 100%, it’s not worth bringing the rent down sometimes. Swamp coolers are prevalent, and that gives the potential for mold. Life is hard because of global capitalism. Check out Divvy - they are a company that will buy a house of your choosing and do a rent to own agreement with you. " Life is struggle. You want repair and maintenance to be someone else's responsibility. Short answer. There’s always the classic argument of it being “not real music”, or “sounds like beep beep Chances of having house sold from under you, and expected to grin and take it(2 times a week). which determines the result. If this shifty system didn't force us to work our lives away just to barely meet our basic needs, life would be much happier and fulfilling. One thing to look out for in El Paso: air conditioning doesn't always mean what you think it means. r/Cornwall. have your documentation at the ready, scanned copies of your last 3 w2s, 2-3 months of bank statements and paycheck stubs. 1. So when people complain that an electrician or plumber charging as much an hour as a doctor, it's because they are probably just as rare now. ChosenExpression. So the takeaway is that not buying houses is bad and buying houses is also It is -usually- worth it. Even the shitty property managements (gonella, Shewey) have no openings. Before I moved out of my parent's house, I calculated the costs of both options - renting to walk, or stay at home and drive. Please remember: Reddit IS NOT a replacement or substitute for a qualified solicitor, and any advice given here which relates to the law is purely academic in nature and should not be relied upon. When demand outstrips supply constantly, it has detrimental effects on the rental market. Often when a rental is sold to an owner occupier number of rooms and therefore availability of housing decreases. Most buildings are advertised word of mouth (listing them is a last resort) so try to make contact with a few commercial agents who specialize in multires and get on their mailing lists. The housing prices are even insane. Up in Leeds, the average rent/value ratio is insane, to the point where I've seen £20k, (yes, £20,000) properties that rent for £350 a month. But you gotta leave house after few years, it depends on landlords. Share. Down-payment. Donomite25. Because London housing is in high demand, so landlords can choose to not accept pet owners, because they are a risk. I've been trying to rent a room or a smaller place as a foreigner and it's quite hard. the mortgage broker should help with that. Does anyone have any recommendations for an agency that could help or other trusted sites rather than olx/otodom? It's not going to change unless either of those do. If you can change 850 € per month you gain almost 100€ a month. When you leave, you will get money back. Getting the privilege of paying a fee to pay your rent so agents dont have to do the work of receipting payments themselves. And it’s hard to but a house now because the market is so hot—low rates, high demand and low supply due to COVID. If we really want to move, it seems like a no-brainer to rent my house out for roughly break-even, and take on a rental cost. But we can get 6% in the bank, with no risk or hassle. I got out of it because it was a lot of work, a significant number of tenants suck (the rest are wonderful), and the margins are paper thin. •. If you need the room of a house, but know you are going to move in a year or so, then renting is way smarter than buying and selling immediately. The estate agents and landlords know they will be able to let the property fast. Having been a rent house landlord before, the profit margins are normally very very tight. darkkid85. I live in Los Angeles county with my wife, and it's insane how hard it is to qualify for a house. I would say not everyone is able to set up a Telegram bot, but average person should at least be able to rent an average flat. For example, offering above the asking price, or offering 3-months rent up front (ie your last three months rent - so you continue to pay from day 1, but you dont pay for the last 3 months of your tenancy when you give notice). Same here. The rise is mostly based on speculations. Most cash offers do not come from people looking to buy a primary residence. for a single applicant, a 2-2. House landlords and house rentals seem to have all the drawbacks of house living expenses without the equity. There are literally no homes for rent right now :( Usually it’s not hard to find a home for rent around this time but and literally nothing. People can be harsh towards it. If I look for places which have affordable rent like electronic city etc, the time to reach the office increases There's a number of factors that come into the decision making process: the property type you are looking for, your status with your roommate, your job security, late payments etc. From some responses it sounds like Liverpool has been difficult for a while, but you've also got all the post-lockdown movement going on as well. All of these factors make it cheaper to live in a rural area. Home ownership in Germany is expensive. 4. Because capitalism. People are leaving prison to live on the streets. Millennials used to get blamed for killing the real-estate industry cause most didn't have enough money to buy houses. Finding a place without being here will be impossible, I wouldn’t even try and waste your energy. 5 times your income. Pros: mobility (move when you want), no real property tax, no upkeep cost, no insurance, no depreciation cost. So, home prices start rocketing up - landlords see this & decide to take the windfall of selling their rental they can dump off at 150%-200% (or more) its value just a year previous. This makes it harder for people to get a nice small home because the financing is more complicated and the buyer will probably pay a premium due to the complexity of the lending process and the need to engage a builder to custom-build a smaller home. "shared house" is another keyword to try maybe, same thing, is just you looking to rent a room (usually in a house where other people rent just a room). Bait new customers with cheap lot rent for the first year or two and then start ratcheting it up. So rent hikes don't matter, finding a decent place isn't hard, and they've already spent their lives living in a nice house that was theirs so there's a 'novelty' to renting. FL has significantly lower property taxes and rent is higher in most regions. Or we have a odd system called 전세, it's like you rent a house with half~75% of house price, you dont have to pay for the rent except eletric, water and so on. Whole place is a shit show funny they ask for credit checks but don't actually allow you paying rent to appear on your credit score to help improve it or maintain it 🤣doesn't make sense to me landlords are greedy cnuts too now and sadly hold all the cards with no rent cap got evicted from my last rental after 11 years in the house because the landlord decided they wanted to double the rent You reach out to landlords and they’re sending you emails with god-awful grammar talking about how the property is in high demand and they don’t have many openings to show the rental property. And so on. A couple of people I work with are having a difficult time finding a new place also. Lots of people on Reddit think they need 20% down, I was just trying to convey it’s not as unattainable as some think. 2-1. 2. It's also close enough to the city centre to be walkable. He’s moving in with me and not renewing his lease so we’ll be splitting rent for January and February. A family whose dynamics has parents charging rent is problematic in some way. Our insurance prices are also pretty high in this state and the property owners still have to carry insurance on top of your renters insurance. I am Realtor here in Vegas. The reason for that is racism, I'm afraid. 29 a month for a 70's council house. 5 house in Lausanne (salary should be 3x rent). Low supply and high demand means higher prices until we get more supply (more homes) or less demand (bad economy, less immigration). I cant understand why would someone pay rent to live somewhere without actually living there. I will ask to lower the price some. And people will pay cause they are pathetic. But properties could be sold as leasehold titles subsidiary to the Grant, so that may be why it is so common. This is for 96 units, with a mixture of 1beds, 2beds and studios… it would need an average rent of $3,000/month. But generally speaking they’re difficult to find in this market. Circumstances are different than 07-08, when subprime mortgages from predatory lending brought down the building. Cornwall is the southern-most county located in the southwestern region of England, known for its rugged coastline, rolling hills, and quaint seaside villages. Eviction moratoriums, rent control, any handouts among renters in real estate tends to squeeze out the middle class of renters. 8% and you end-up paying 743 a month to the bank for 20 years. A building this size will cost approx. I don't understand what's so hard about building houses. So $700 each. This is - unfortunately - relativly common for immigrants and their descendants. I used to own 9 houses. 6m, and with the rates today, $7-9k a month for just the mortgage loan payment. I would try Royston, Letchworth and similar, Cambridge itself is a total nightmare. A lot of landlords with rentals sold at the top of the market in February and March 2022 - and those homes were occupied by new owners. Unless you're like a lawyer or retired landlord I wouldn't bother. So I rent for $1400 my SO rents for $1400 and I still manage to save about $3k a month (he saves about $1-2k, I work more hours than him but we make the same money). the problem is the price. I am seeing people asking 55k for a semi furnished 3bhk apartment, so even sharing the flat doesn't seem possible as getting the furniture and all would exceed my 20k budget. Be sure to ask if they have refrigerated air. Or alternatively, financially they can afford to rent, and are comfortable in their lives and just don't want If u have like 100~200mil then you can probably get a house in urban area. Taller buildings, in New York, have more units. Day 3: Select the best applicant. For example no job and no will go work at 40y. That is 50 cents a day. (This is partly why firm price caps in general are a bad idea. I posted most of what follows as a reply to a person over in r/fire who almost immediately deleted their post. But it doesn’t take a bunch of nuance into consideration. 5 appartement will rarely be given. Cambridgeshire is a particularly difficult spot for a couple reasons 1) It's within the London commuter zone and 2) Cambridge is a small but very popular city, so the housing demand is amplified. It's crap in other places in UK but probably worst in London. Budget: under $1200. They talked about putting money into an "asset" vs burning their money with rent. 00 and you get 6. My office is in Bellandur, Near rmz ecospace. Homes located in the “bad” part of town are selling for $280k+ Welcome to the global housing crisis. With so many applicants, my feeling is they go for the sure bet that will be easy, steady, and take care of the unit. I bought my first house at 35 years old in 2016 for 365k. You had 50k available, got an interest rate of 1. Many landlords don’t want to be put in that situation. I couldn't even imagine my parents charging me rent. So a moratorium drives increased occupancy over the entire renting ladder, which reduces supply and increases rents. So now we have rentals being sold as single family homes Corporations & LLCs buying properties as fast as they can to flip into single family homes. So an increase of $200,000, which is a lot, but only 2. These people expect you to give them a security deposit and first months rent without seeing the apartment/townhome/duplex in person. The craziest market now can rent out a property in 3 days: Day 1: post the property and set up viewings for the next day. Be ready to print them if necessary. All very dubious legally, but thats the market right now. Because at the beginning of covid, people thought not paying rent would work. Money wise it's roughly the same monthly amort, insurance, parking, gas, maintenance vs rent, utilities, etc. They can pour a foundation, but wait for materials to build. It partly depends where you live. That is a rough break even estimate for landlords called the 1% rule. Institutions come in and buy houses to rent. Keep in mind, GIC’s today will deliver a stronger unlevered return than a Vancouver apartment building. I've got a really cheap ensuite in zone 2 for 800 and have been looking to move out for a good 5 months now and it's basically impossible finding anything good at this price range. They forgot about the credit check, background, check, employment history, and showed me where to sign. 5 bedroom house will have 5 random folks living there. rodneyfan. So just don't buy a house. g. Anything slightly more, they may make ~$100+ a month in net profit. I’ll take one example. It’s kinda funny when you think about how the Fed is raising rates to stop inflation but less affordable homes cause major rent inflation which makes up like a 1/3rd of the CPI. Easy answer: lack of supply, high demand. I can't afford to own one. We looked at property just recently, and calculated we might get 3% net rental return (5% gross - less expenses) and might we get 3% cap gain. I get it in the southeast with the green belt. can_it_be_fixed. Try looking around South Bank area, it's cramped but a nice enough area comparitively and rents are likely to be under £500 a month. During viewing, talk with the agent or landlord to make yourself known to them, and ask when they would make a decision. Anything less, landlord will not make money. It's too hard getting the rent, too hard to make a profit with all the damages I have to repair every year. Yes house pricing vs household income may show that it is affordable. Nit enough houses are being built and not enough affordable housing, landlords are selling up and commercial landlords buy big expensive units. Electronic music carries more notorious baggage than any genre. They want me to earn 30x the rent, or my guarantor to earn 35x the rent (rent being 1100 per month btw). In cities like San Francisco, where the median price of a home is well above a million dollars, the notion of making construction costs even more expensive is likely to be unpopular, even if the goal is to preserve the city in the long run. You either struggle for survival or you struggle for meaning. It's like 6 bucks for an HD rental that lasts two days once you start it. So let's say you buy a 200 000 apartment. Bent over a barrel by agents who control your future ability to have a habitat. I have been trying to buy a place of my own since rent is getting Those people don’t struggle anyway. Also try to get the rental applications from the major property management companies so you can have them filled out and ready for submission when you find something. ) MC is weak, whiny, cringy, unlikeable, and uninteresting and 2. For comparable homes, we're looking at $1. But I got a sight-unseen offer for the house for about $80K more than I thought it was worth so I jumped on it and quit caring. Some people are stuck in that financial limbo where they can't save up money because they need to pay their rent/bills, so they can't save up for a down payment, so they have to keep renting. it is not hard finding a renter, qualified or not. Anyways, good luck to you! 8. This means that there are fewer houses, stores, and other buildings, and the land is not as crowded. In practice, this is usually a higher debt load you want In rural areas, the land is cheaper because it is less developed. You should make a housing application to a housing like Prima, you can apply directly on their website. IMHO the only people who think renting is easier either live out of a suitcase and aren't picky/won't be staying anywhere longer than a few months, or are rich. Local/small time landlords who don't really know what they're doing, weird lease agreements where you're forced to shovel the sidewalk and mow the lawn to keep up with city codes, and of course the chance that the landlord can decide to Inside the city walls, the rents are insane. 5 times your income, rather than 9. sonalogy. Property investment has caused this issue, with people fighting over properties because most housing stock is rubbish, and will remain rubbish while they are owned by investors who won't spend a cent on them. The rental market atm is actually insane its getting worse. and 20 year latter you own the appartment in full. It's the fact multiple properties are owned by the same group of people. Cons: you will not enjoy capital gains, rent is technically considered an expense in accounting terms (amount you pay does not go to funding a fixed asset, if that matters for you), may affect your credit standing (there's a reason as well why banks ask if the place you are living in Definitely check out listings very frequently as they go like hot cakes and landlords get floooooded with emails. 53. This is my last house and I'm so glad to be rid of it. Using a livelihood to teach a lesson will not go well. The answer is literally because they can. Atleast at the end of the you still roof that can cover you. I'm also looking, places are way more expensive, supply is massively down. But during the foreclosure crisis, a small number of landlords were able to more or less corner that market, so they simply collude and raise their rents every year, because they control enough of the market to skew the average upward. In Florida panhandle, builders waiting two months for materials is common. Meaning established, concrete income, etc. I think my landlord has 5 properties in Davis and he just comes up from SF a few times a year to say hi and make sure we didn't burn the house down. . Or people can't get their credit up enough. So turn the tables on them. Rule of thumb for renters, if the house value is $150,000, rent should be at least $1,500/mo. Day 2: let a group of people view the property. Keep in mind is different that just living with house owners and being the only "outsider". Home owners have comparatively high running costs to content with, and often have to contribute to infrastructure improvements around their houses (e. Alot of people got evicted or kicked out of where they were staying with other people and it forced them to find their own place. Spring and Summer are generally the best seasons for properties for rent in the market so you might have a better outcome. But even in east mids it's really hard to rent a house. From my understanding, a lot of it has to do with the virus & the order put into place that landlords can not evict people right now for failing to pay rent. Just take a look at the bi-modal nature of housing in NYC. You are right! Don't buy a house. Fair warning, but prices are insanely expensive these days and demand very high, even in outlying cities. It sucks, and I wish we had developed past this, but evidently we haven't. Etc. sm ey gc tb al gu sz kw mp mw