It pays to be a good tenant

iahawkeye83

I pay my rent on time, I don’t trash the place, I don’t leave trash all over the yard, I don’t have junk vehicles parked on the lawn. I don’t have parties at 2 AM on a Sunday morning. I don’t crank the Stereo on max volume. I MIND MY OWN BUSINESS. And guess what the landlord rewards me with. A TWO year lease renewal with only a $100 increase in rent but I’m still paying way below market. Landlord is moving out into a house they just purchased and renting out the downstairs and I’m hoping they rent it out to someone who minds their own business as opposed to a troublemaker (I’ve dealt with a few of those in the various multi-family houses I lived in). Advice I give to landlords (especially first time ones) is they are in it to make money, they are not social workers. I’ve seen a few landlords act more like social workers and those are the ones who get stuck with the most damage and unpaid rent.

vaxvms

Yeah? BUY a place.

iahawkeye83

vaxvms in this market, dream on. I looked up the place I live in on Zillow and it was sold to the current owner on 2021 for $265,000 and now it’s estimated to be worth $359,000. Until the real estate market crashes (like it did in 2008) homeownership is out of the equation.

Not that I don’t want to own a home, it’s just that the market is out of control. I just consider myself lucky to have the place I currently have. And I would rather focus on the purchase price of the home, the interest rate can change later. You can always refinance. If you overpay for the house and the market crashes then you will be underwater and good luck refinancing. You still owe the mortgage even if the house loses value. And in many states the bank can go after the borrower for the difference between the sale of the house at auction in foreclosure and the balance owed on the loan.

Somewhat-Reticent

Along with payments and interest, property taxes tend to rise.

Sparkchaser

Somewhat-Reticent Along with payments and interest, property taxes tend to rise.

Even after the mortgage is gone. They are building a load of MDU in our area. Actually, it’s about all they are building. Who’s going to pay for more schools, roads? Actually, not sure where they can put more roads, so somehow they have to manage the traffic.

Sorry to go off on a personal gripe. 😒

Guy54435

iahawkeye83 And unless you buy a property with a buffer zone of land insulating you from a close neighbor, you can still have undesirable people living ten feet from you, Even with a buffer, idiots morons and jackasses can still screw up your day, life.

egeezer

Somewhat-Reticent Along with payments and interest, property taxes tend to rise.

So do insurance rates, especially in areas that have had significant losses. Rates continue to rise where underwriters’ actuaries and researchers have projected more losses.

px_eliezer_

egeezer So do insurance rates, especially in areas that have had significant losses. Rates continue to rise where underwriters’ actuaries and researchers have projected more losses.

That’s going to be everywhere pretty much with the problems of censored change.

egeezer

px_eliezer_
The insurance rates on the place we had in Florida has more than doubled in the past three years despite not being in the new revised flood zone.

However the rates on our home here has increased less than five percent.

BTW, by rates I mean the cost per thousand, not just the total premium.

Astyanax

Somewhat-Reticent

Somewhat-Reticent Along with payments and interest, property taxes tend to rise.

Nothing compared to property values.

Astyanax

egeezer The insurance rates on the place we had in Florida has more than doubled in the past three years despite not being in the new revised flood zone.

If you don’t have a mortgage a -lot- more affordable insurance options open up for you. 😉

px_eliezer_

Astyanax Nothing compared to property values.

Property values may sometimes fall, but property taxes never do.

Astyanax

px_eliezer_ Property values may sometimes fall, but property taxes never do.

Hardly. We’re considering eliminating them.

https://www.newsnationnow.com/us-news/southeast/florida-property-tax-desantis/

px_eliezer_

Astyanax

How would teachers and schools, cops, streets, everything else, be paid for ??

No property tax, no income tax, sales taxes about 7 percent in most Florida counties, something’s gotta give.

Sales tax would really have to be jacked up.

Astyanax

px_eliezer_

Eliminating them completely is probably unrealistic as they’re responsible for like $50 billion of revenue for local governments. Alternatives they are proposing are huge exemptions of like $75K to $100K.

And even if the study doesn’t move forward, Chamberlin has a bill (HB 357) to install a $100,000 exemption on all properties – homesteaded and non-homesteaded – by putting the measure before voters in the 2026 election. Sen. Blaise Ingoglia, R-Spring Hill, also has a bill (SB 1016) to expand the homestead exemption from $50,000 to $75,000.

https://www.tallahassee.com/story/news/local/state/2025/03/07/desantis-eliminate-property-taxes/81157826007/

Right now you can get 2 $25K exemptions with a tax increase cap of no more than 3%/year.

Funny part about this is my county of Brevard increased their budget by almost 10% last year but -lowered- the property tax rate for the 11th consecutive year due to the property tax cap and soaring property values.

https://www.floridatoday.com/story/news/local/2024/07/18/proposed-brevard-county-budget-totals-2-24b-with-lower-tax-rate/74407317007/

egeezer

Astyanax
We owned outright in Naples, no mortgage. When property values went up, we took advantage of that to cash out and buy a rental/investment property near our primary home. I would feel sad if the Fl. place was damaged or destroyed by a storm, but at least I no longer have to deal with owning a property 1100 miles away. For what insurance for the Fl. place cost, we’re insuring our home and rental property with money left over.

Rich221976

Guy54435

Even a neighbor that lives down the road. At least I am no longer getting their packages sent here anymore.

Rich221976

Astyanax egeezer The insurance rates on the place we had in Florida has more than doubled in the past three years despite not being in the new revised flood zone.

If you don’t have a mortgage a -lot- more affordable insurance options open up for you. 😉

I wish, but I still gotta do those upgrades to the house, the water heater and the panel box will be the main ones.

Then I can see what the new insurance company will bitch about afterwards.

Astyanax

Rich221976 I wish, but I still gotta do those upgrades to the house, the water heater and the panel box will be the main ones.

The fun doesn’t begin until it’s the roof.

Rich221976

Astyanax

My fingers are crossed about the roof. We had a metal roof put on back in 2001. They said that the roof will last the lifetime of the house. I still have all of the paperwork. I do need to get on the roof and clean it. It is suppose to be dark green, but now it looks so pale because of the pollen. It also has a wind rating, and the paint is not suppose to fade.

I still gotta cut the grass though and clean up the yard. I have an old couch and some trash in the middle of the yard to be taken out to the curb.