renting is more complicated these days

JaniceM said:
There is a local place that says they're building small cottages, but when I inquired they said they've only built one so far and it was in 2019. I'm guessing they're having difficulty with funding, and/or people to do the work.
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Yeah, that's all up in the air
If things escalate, there may be some Hoovervilles popping up.
 

I think the tough thing for most seniors is the impact of inflation on housing expenses.

It’s not a sinister plot by property owners just a sad and simple fact of life that costs are rising faster than their ability to pay.

About the only thing retiree’s without a strong support network can do is lower their expectations and tough it out.

IMO it has always been that way, but most people don’t notice until it impacts them directly.
 
JaniceM said:
I'm wondering if that's the reason some places require first AND last month's rent in addition to security deposits.. and some that require a person's income to be at least twice (and even seen three times) the amount of the rent.
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I am sure it pretty much is. If everyone paid rent on time, took care of the apartments, and followed the rules there would be no need for security deposits and the like...

Some landlords are bad folks too. In college I rented from one, soon discovered that he never returned anyone's security deposits. I did not trash the place, but took a lot less care cleaning it up than usual. It can be easier to take advantage of college students, they are transient and have little recourse.
 
In addition to the difficulty in what should simply be a easy transaction in todays world of instant information gathering, we now need to be concerned about scammers. People are running ads for rentals and collecting all the personal info. SS#, banking etc. and they're gone. The people getting burned are those from out of the area. The powers that be suggest not applying for places not in your area. Not so easy for those needing to relocate. Aren't people wonderful?
 
These days landlords may check credit scores; not rent to those with low scores and require large security deposits (sometimes a full months rent or more). There are also income requirements for some places. I'm so glad I don't have to deal with those issues and hope I never do but I have loved ones who are or have been affected. I think supply, demand and potential for bad tenants plays into what's happening in the rental markets these days.
 
Aunt Bea said:
It’s not a sinister plot by property owners just a sad and simple fact of life that costs are rising faster than their ability to pay.
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No, not a sinister plot, however most property owners will charge what the market will bear. Its the way most all businesses work.

If costs are low then they make more profit and are more likely to invest in more housing, not reduce rent, not so long as they can get the high prices. These new rentals will increase availability and stabilize or even lower rents. If landlord costs are high and they lose money they will just get out of the business and no new rentals will appear. Eventually leading to a shortage and a new rent increase cycle...

Problem is this doesn't happen instantly, it takes a while to build new rentals, in the mean time the shortage and high prices continue. A hardship to many renters...

Not to say landlord costs haven't gone up, they have, but that is only indirectly related to what they charge.
 
JaniceM said:
That's the kind of thing that bugs me- people who have the idea that since they don't own the apartment they're free to wreck it and leave landlords with the consequences.

I'm wondering if that's the reason some places require first AND last month's rent in addition to security deposits.. and some that require a person's income to be at least twice (and even seen three times) the amount of the rent.

"Pet rent" also irritates me. Maybe if a person has a very active dog, but not most pets in general.

The way I've always looked at rentals: it doesn't matter that it doesn't legally belong to me, I'm as careful with other people's property as with my own.. and same goes for utility bills.
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And that's awesome! But there's an awful lot of the population that aren't like that. The landlords are trying to offer housing and protect themselves. I do think they ask for far too much rent money considering they seldom do much to keep the property up.
 
I paid a pet deposit but no additional monthly cost to have a pet. When I first moved to this area in 1995 it was a lot harder to find a complex that took pets. It's actually easier now.

Yes some tenants are scum. So are some home owners. I swear I live around a better class of people in this complex than when I owned that house. No one will be blasting their stereo outside from 10 to 10 labor day like that jerk behind me did every holiday at that house.

But renting is getting scary and I'm berating myself for all the places I didn't buy and get out of here. If they do an inspection, my living room is cluttered. I'd take the 3 cardboard scratching posts and cat ball tracks and tunnel down to the car to make it look better I guess. And they will keep raising the rent all they can. It's not always just a good profit, it goes over to greed.
 
MarciKS said:
The landlords are trying to offer housing and protect themselves.
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My understanding is that a lot of property is bought up by foreign investors. They are not wanting to get housing for people. They are wanting to make money and some of these places, I have heard sit empty, especially in hot markets like California, to wait for prices to increase.
 
dko1951 said:
In addition to the difficulty in what should simply be a easy transaction in todays world of instant information gathering, we now need to be concerned about scammers. People are running ads for rentals and collecting all the personal info. SS#, banking etc. and they're gone. The people getting burned are those from out of the area. The powers that be suggest not applying for places not in your area. Not so easy for those needing to relocate. Aren't people wonderful?
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This is sage advice.
 
Remy said:
My understanding is that a lot of property is bought up by foreign investors. They are not wanting to get housing for people. They are wanting to make money and some of these places, I have heard sit empty, especially in hot markets like California, to wait for prices to increase.
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that's no good either. i think no matter what we're just screwed. we may have to start senior citizen communes. 🤣
 
I had to fill out a 28 page application to move in here. Every year have to recertify. Same process. It is what you have to do (if you are a senior or disabled) to get help to be able to rent a decent apartment. They have a waiting list and some can take up to three years or more. Since I was considered being "in need immediately" I only waited three weeks and was put at the top of the list.

All I hear from some people here is how much they hate it here. I can't even imagine that because I love my apartment and my friends here. Of course, it will never be like your old house was. There will be other people living pretty close to you. So if they let a trouble maker in or someone who destroys things how will you like that? If you are on the other side of the wall? The company that owns my building owns a lot of them, throughout the northeast. They pride themselves on offering "a home for possibilities" with 220 apartment communities. It is not assisted living, besides the financial help you are on your own.
 
katlupe said:
I had to fill out a 28 page application to move in here. Every year have to recertify. Same process. It is what you have to do (if you are a senior or disabled) to get help to be able to rent a decent apartment. They have a waiting list and some can take up to three years or more. Since I was considered being "in need immediately" I only waited three weeks and was put at the top of the list.

All I hear from some people here is how much they hate it here. I can't even imagine that because I love my apartment and my friends here. Of course, it will never be like your old house was. There will be other people living pretty close to you. So if they let a trouble maker in or someone who destroys things how will you like that? If you are on the other side of the wall? The company that owns my building owns a lot of them, throughout the northeast. They pride themselves on offering "a home for possibilities" with 220 apartment communities. It is not assisted living, besides the financial help you are on your own.
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I would take what you have in a heartbeat. I have been on many lists (as they open) for two plus years. when I check on these they won't even tell me if I'm on the list, just, we'll let you know when.
 
OneEyedDiva said:
These days landlords may check credit scores; not rent to those with low scores and require large security deposits (sometimes a full months rent or more). There are also income requirements for some places. I'm so glad I don't have to deal with those issues and hope I never do but I have loved ones who are or have been affected. I think supply, demand and potential for bad tenants plays into what's happening in the rental markets these days.
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I got that, too (extra deposit) not because of a low credit score but because I have none.. like a penalty for not using credit, I guess.
 
katlupe said:
I had to fill out a 28 page application to move in here. Every year have to recertify. Same process. It is what you have to do (if you are a senior or disabled) to get help to be able to rent a decent apartment. They have a waiting list and some can take up to three years or more. Since I was considered being "in need immediately" I only waited three weeks and was put at the top of the list.

All I hear from some people here is how much they hate it here. I can't even imagine that because I love my apartment and my friends here. Of course, it will never be like your old house was. There will be other people living pretty close to you. So if they let a trouble maker in or someone who destroys things how will you like that? If you are on the other side of the wall? The company that owns my building owns a lot of them, throughout the northeast. They pride themselves on offering "a home for possibilities" with 220 apartment communities. It is not assisted living, besides the financial help you are on your own.
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Recertifying.. is that like Section 8?
 
katlupe said:
Maybe it is like it but it is not the same. Once you are renting a subsidized housing apartment you have to recertify yearly when your lease is up. Your rent can go up or down depending on if you got any more or less income. Also if you pay for any medical bills or even ovc meds they discount that from your income.
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That's the way Section 8 is, too. Only recertifications are annual regardless of whether a tenant has a lease or not. And also annual inspections of apartments.
 
dko1951 said:
I would take what you have in a heartbeat. I have been on many lists (as they open) for two plus years. when I check on these they won't even tell me if I'm on the list, just, we'll let you know when.
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I have two apartments next to me on my floor waiting to be rented and soon one downstairs will be empty. It takes them a long time to get each one ready to rent. They completely redo the inside. Are you in the northeast? The company that I rent from has a website and that is how I got here. I downloaded their form and sent it in.
 
JaniceM said:
That's the way Section 8 is, too. Only recertifications are annual regardless of whether a tenant has a lease or not. And also annual inspections of apartments.
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They inspect ours every year too. Everyone here has to sign a lease.

Our building is seniors and disabled only. No children. They own a building in another city not far from here that is focused on families.
 
katlupe said:
I have two apartments next to me on my floor waiting to be rented and soon one downstairs will be empty. It takes them a long time to get each one ready to rent. They completely redo the inside. Are you in the northeast? The company that I rent from has a website and that is how I got here. I downloaded their form and sent it in.
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Thant you, I'm in California. Another reason for the difficulty, alarming shortage of affordable housing. Really, it's everywhere.
 


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