What do you think about Tenant Unions?
Here's an article: https://www.wsj.com/articles/t...
With rent rates increasing dramatically, a housing shortage around the country, and new generations that feel entitled, I suspect we'll see more of these.
I find it interesting that the go on "rent strikes" and stop paying rent. How is that successful? In my state, a tenant can only withhold rent if the Landlord fails to maintain the rental. Even then, the tenant has to follow strict guidelines. If my tenants just stopped paying rent because they disagree with the market rates, I would evict them. Unless you're investing in a liberal area like NY or LA or Portland, I just don't see how this would be effective.
@Mary M.
Thanks for engaging,
Do you think that if every schmuck who owned real estate was a great landlord, but was getting rich from owning real estate NPR would tone it down their landlord hating? I don't believe that for second. The wealth that has been created for owners of assets like myself is a consequence of "easy money", and if I was a tenet I would be pissed because it isn't fair. They get stimy checks and I get to buy real estate with fixed debt at less then 3%. NPR hating on landlords is hating the players not the game. The financial engineers/central planners are to blame for this wealth disparity is responsible for forcing working class people to get on a hamster wheel they will never be able to exist, in my humble opinion.
Originally posted by @Kenny Dahill:I'm confused, how would a union help them negotiate with larger landlords? (I don't have WSJ access). The only way I see that being accomplished is if the union guarantees a high occupancy rate and backs the tenants rent in case they fail. If it's simply to protest rent rates, they're already at a weakened position once they've signed a lease.
I empathize with tenants having their rents increased 20-30% in the last 2 years. That's a massive pill to swallow. Not to mention the demographic hit the hardest are typically lower income. And it's only going to get tougher.
I empathize with tenants that have seen rents increased 20+% too. Except when I see that my property tax bill is 25% higher. My insurance has doubled. My utilities are up 20%. My labor and supplies are up 20%. When all those rents go up across the board, it's going to be reflected in rent rates.
Originally posted by @Cody L.:Originally posted by @Kenny Dahill:I'm confused, how would a union help them negotiate with larger landlords? (I don't have WSJ access). The only way I see that being accomplished is if the union guarantees a high occupancy rate and backs the tenants rent in case they fail. If it's simply to protest rent rates, they're already at a weakened position once they've signed a lease.
I empathize with tenants having their rents increased 20-30% in the last 2 years. That's a massive pill to swallow. Not to mention the demographic hit the hardest are typically lower income. And it's only going to get tougher.
I empathize with tenants that have seen rents increased 20+% too. Except when I see that my property tax bill is 25% higher. My insurance has doubled. My utilities are up 20%. My labor and supplies are up 20%. When all those rents go up across the board, it's going to be reflected in rent rates.
I agree that it'll reflect in rent rates. I don't pay utilities for properties. Typically, I only raise rents when my property taxes go up significantly, which they have been as you indicated.