What do your TENANTS really think?
Rental Property Investor · San Mateo, CA · Member since 2017 · 108 posts · 49 votes
What do your TENANTS really think?
Most Popular Reply
Member since 2022 · 1k+ posts · 1k+ votes
3yHere's what my tenants think. "I've got this great place, I'd better not do anything stupid".
Nomads? They're all yours my friend. Good luck.
37 Replies
- Rental Property Investor · Beavercreek OH · Member since 2018 · 422 posts · 970 votes3y
Quote from @Chris Seveney:
@Rob Chiang
I know people who have rented their entire life because they didn’t feel the need to own. They also have made considerable money, done well investing in businesses and stock market and now pretty much do what they want. There are other ways to do very well without owning real estate.
Chris,
Perhaps. You only need to look at the Forbes 400 however, to see how many of the world's richest people got that way through real estate.
Gary
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Mohammed Rahman:
Hey @Rob Chiang - it depends on what phase of life most people are in. Once they reach the point of wanting to settle down and own a piece of their own land, they're usually more open to purchasing vs. renting. Renting gives people the flexibility to move around and transplant every year or so - something very attractive to young people.
I don't personally think people in the future are going to keep renting forever, most people want to buy a house when they've hit that point in their life where they're also mature enough to understand the benefits of ownership.
Are you sure :)
This gen Z lifestyle is almost the total opposite of the 1950 American-white-picket-fence Baby Boomer generation. This is not just impacting real estate but would also impact the US population in the next few decades. It's not just because they don't want to rent forever, but also because they don't know where they have to settle (also, with who :) LOL ). It's possible they think to settle in Florida this year, but next year they may change to settle in.......Australia for example.
The NetFlix generation does not want commitment. Saw this a lot here. - Member since 2019 · 7k+ posts · 4k+ votes3y
I add you more information :
......researchers predict that Gen Z - born between 1997 and 2012 - are marrying far less. While this cohort is still quite young, the expectation is that only 60 percent of white Gen Zers will be married by 40 years old, while black Gen Zers might reach levels as low as 23 percent...........
if they're not even sure about a commitment to marry, let alone purchasing a home...., they will become a renter forever, as in some cities only a dual-income family is possible to buy a house these days. - Rental Property Investor · Member since 2021 · 384 posts · 197 votes3y
Lots of Millennials these days believe solely in renting because of the convenience and the ease to be able to move to different places. We've now started investing in a few high tech features such as programmable thermostats and smart locks to keep up with the demands of our target audience.
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Mary Smith:
Lots of Millennials these days believe solely in renting because of the convenience and the ease to be able to move to different places. We've now started investing in a few high tech features such as programmable thermostats and smart locks to keep up with the demands of our target audience.
there's app for that -- generation :)
- 3yNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
agree with everything in your post. but i still think that the homeownership rate in the US will continue to tick up coming out of the COVID recovery, especially if the fed lowers rates in late 2023 or early 2024.
the fact that a lot of younger folks are forming families later and renting for longer is just one trend among many
thoughts?
- Member since 2019 · 7k+ posts · 4k+ votes3y
Quote from @Nicholas L.:
agree with everything in your post. but i still think that the homeownership rate in the US will continue to tick up coming out of the COVID recovery, especially if the fed lowers rates in late 2023 or early 2024.
the fact that a lot of younger folks are forming families later and renting for longer is just one trend among many
thoughts?
yeah, homeownership is a different thing though as the usual buyer these days are still people/family groups around 35-55 age group, they are not the gen Z generation.
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes3y
- OH · Member since 2018 · 3 posts · 1 vote3y
Quote from @Eliott Elias:
I personally rent and own 10 rental properties. 1. Owning my home will not make me any money 2. I can be flexible and can break the lease no matter how the market looks 3. I don't need to do any maintenance
I understand that thought process, however if you had purchased a modestly priced home at 2.99% 2 years ago, with 20% down your fixed mortgage payment would likely be less than comparable rentals now. If you add in a small side gig home based business, you can take deductions.. and at any time you can take out a HELOC to reinvest, if and when you are ready to do so. You could also convert your home, with the low interest rate, to a long term hold rental in the future, adding another rental to your portfolio.
- 3yBruce WoodruffPro MemberContractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
Owning property is not just a generational thing, it is a natural human desire. These new generations may take a break from it but it will always be a 'thing'....
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes3y
Quote from @Bruce Woodruff:
Owning property is not just a generational thing, it is a natural human desire. These new generations may take a break from it but it will always be a 'thing'....
Not so much an argument to this but more a refinement and explanation.
SECURITY is a human desire. Stability and known of necessities. Food, water, shelter, these are the fundamental human needs, and when in any form of threat anxiety runs. To the level of certainty of security of these, so too does a person experience levels of calm.
Ownership of shelter has for generations been "the" measure and means of certainty in shelter. It's a "known", "I OWN this, it's MINE, I HAVE this".
But, but but but.... The declaration of war on this perception has been declared "you will own NOTHING, and be HAPPY". This is, very literally, a war on PERCETION. To achieve this end, it requires a re-wiring of the perception of security in shelter. How do you do that? Well, you can't argue renting is MORE secure then ownership because it's ridiculous notion that minds will not uptake. AND we know from human psychology that positive inputs are 1/4 power of NEGATIVE inputs, so.... that says to re-wire people requires a NEGATIVE message to then naturally lead to the pre-selected choice.
We see propaganda daily of this. Speaking of how "restrictive" home ownership is, that one is "stuck" to that location, can not engage in "todays" techno-world, restricting employability, restricting experience etc etc.. We see propaganda streaming constantly speaking of techno-nomad living and the sort. None of this is by chance. Just ask yourself, how often do you see or hear messaging talking about the value and worth in home ownership as it was in say '84'? Or '74' or '64'?
There is a concerted effort at hand to re-wire the definition of shelter security as renting. Yeah, you may laugh but I am not kidding, ownership is the new "bad" and "risky", and renting is the new "secure" shelter message, with an icing of "freedom".
Framing ownership as having shelter risk of foreclosure, limited employability, high expense etc etc etc.
YOU WILL OWN NOTHING AND BE HAPPY.
I find humor in it to be honest. The powers that be literally tell people these things, BRAG of them, lol, yet all follow like good little sheeple and "Baahhh" the whole way saying "I wonder where were going" lol, even though it was literally declared.
No, I have no intent to fight them, it's like fighting gravity. So yes, while I think Klaus is a horrible human being from a line of horrible human beings, I absolutely will ride his coat-tail and happily be a Sheppard of sheeple. Because in the choice of sheep or wolf, well, I have always enjoyed a good Brai.
- Software Developer · Vidor, TX · Member since 2015 · 922 posts · 639 votes3y
Life is a lot easier if you don't concern yourself with other individual's finances. It's like politics or religion, the longer the conversation goes, the more entrenched they become in their side or views, and same for you. Which is fine, they probably think the effort we put into RE is stupid and too much work.
Most people don't think about the fact that it will take them 13 years to pay off their 2-3K credit card, let alone some catastrophic misfortune leading to joblessness. It's just not worth the time. Because at the end of the day, being good with money is work. It takes planning and restraining oneself against impulse, and this feels like severe pain to most and they can't tolerate it. This is true whether or not you actively invest.
To answer your question though, I simply charge the appropriate amount of $$ to prevent deferred maintenance. Above all else, people enjoy a well-maintained rental property.
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