[quote=covidwithlime][quote=TheBrianNarrative]Say the low education coastal elite from the sun belt that has spent much of the last decade complaining about his tenants and his neighbors
My last tenant stayed eight years. Never late once. Only thing I ever had to do was help Her once or twice when she locked her self out. Property almost tripled in value and rent return was 20% on down payment cause I never raised the rent. Could’ve been higher but she was helping support her mom and I like that so I never raised it.[/quote]
I’m with you. Time is money. The less time I have to spend on managing my rental, the better. I find SFR tenant so far to be much better to deal w/ and they don’t call you for the little stuff. One of my tenant ask if they can replace the window AC by themselves.
I have a great single mom tenant who has been in the house for 8 years now w/ the same rent. She’s now about 20% below market rent. I would have kept the rent the same the next time her lease renewed, but with the new rent cap law, I have to raise it a little. Still below market rent, but have to keep it not too far bellow.[/quote]
I have the opposite experience. I find the small professional enginerd tenants usually leave me alone because they are too busy working or busying raising a family. I can only get 5 years out of them because that’s usually how long before they get their greencard and move on to buy their own house. But then again, after their 5 years, their peers that are just starting out end up taking their place. I think the longest vacancy I had was maybe 1 month in those condos. The other condo in not as near SDSU saw really good appreciation but saw a much rougher tenant pool. Fortunately I got a very nice grad student that stayed there almost 4-5 years and never skipped a rent, but being all the way down there it was managed professionally simply because I didn’t want to deal with when things broke there. As soon as the lease was up and they had other plans, I sold it, took the appreciation and bought back in closer area with better tenant pool. SFH rent is still too early, probably will be more difficult. We will see. CarmelV tenants seem to be really picky. But I guess that’s the price to pay for >$4000+/month rentals.
Hopefully 2 more additional properties, and I’m done here. I think I have enough dividend income on the non-rental income stream to make up for the rest.
