Interestingly, being a landlord in such a popular location has its own set of problems, as my friend describes them:
1. Rents are escalating so fast in his area that he hopes some of his tenants will move.
2. He does raise rents occasionally, but gets enormous pushback from tenants, even though he raises them to somewhat below what a new tenant would pay. So he always gives rent comps when he raises rents, and they still hate him for it. One even sued him, claiming retaliation.
3. For landlord Piggs who are envious of having easy-to-rent units, it is actually no fun to get 40 phone calls after running a Craigslist ad for one day.
How, exactly, does one chose? He has learned to be very picky about income, job stability, education level, age (no young party-types), and students (they don’t stay).
