Landlord friendly states to buy rentals in?

General Landlording & Rental Properties
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Landlord friendly states to buy rentals in?

Jack B.
Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes

The entire left coast has become a joke. Landloards can't enforce lease terms and basically have to let tenants live for free while they damage the hell out of the place (situation I'm facing).

Attorney I spoke with today for my issue said a lot of investors have been keeping her busy liquidating their portfolio here. She didn't mention where they were buying, she was just tasked with sending notices to get them out with the current requirements for getting tenants out (notice to sell).

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Will Fraser
Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
5y

Hi @Jack B., unfortunately and fortunately you're spot on.  It's a clustercuss.

I've seen good things with Oklahoma and heard good things of Texas and Ohio. I'm sure there are many other places that don't pin the landlord as the sole problem for all of life's problems, and I look forward to hearing what others mention here.

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  • Will Fraser
    Real Estate Broker · Salt Lake City & Oklahoma City · Member since 2018 · 3k+ posts · 2k+ votes
    5y

    Hi @Jack B., unfortunately and fortunately you're spot on.  It's a clustercuss.

    I've seen good things with Oklahoma and heard good things of Texas and Ohio. I'm sure there are many other places that don't pin the landlord as the sole problem for all of life's problems, and I look forward to hearing what others mention here.

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  • Bruce Lynn
    Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    5y

    Texas for the most part has been good.  Some cities are not as landlord friendly as others.  Some have rental registration fees and inspections.

    0Reply
  • Ryan KellyBusiness Member
    Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
    5y

    @Jack B. Overall, Texas is a pretty landlord-friendly state. Even in liberal Austin, where I work and invest, it is still fairly easy to evict and enforce your lease. The state as a whole is more conservative, providing a nice counter-balance with any local political decisions.

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  • Stephen Stokes
    Rental Property Investor · Austin, TX · Member since 2016 · 317 posts · 257 votes
    5y

    @Jack B. Are rent ratios adjusting to reflect increased regulatory risk premium? The unintended consequence of the actions you mentioned create hyper inflationary pressures so might be worth hanging onto if you already have a fixed mortgage payment for long term. Simply adjust your vacancy allowance to reflect the additional risk. You should see rents grow at much higher rate than unregulated markets. Heavy handed government actions meant to help the little guy usually hurt them the most. My market of Austin is a great example. We have complete centralized zoning and planning vs. other cities in Texas like Houston. As a result, our rents are growing much faster. Just some food for thought.

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  • Jack B.
    OP
    Rental Property Investor · Seattle, WA · Member since 2014 · 1k+ posts · 1k+ votes
    5y
    Originally posted by @Stephen Stokes:

    @Jack B. Are rent ratios adjusting to reflect increased regulatory risk premium? The unintended consequence of the actions you mentioned create hyper inflationary pressures so might be worth hanging onto if you already have a fixed mortgage payment for long term. Simply adjust your vacancy allowance to reflect the additional risk. You should see rents grow at much higher rate than unregulated markets. Heavy handed government actions meant to help the little guy usually hurt them the most. My market of Austin is a great example. We have complete centralized zoning and planning vs. other cities in Texas like Houston. As a result, our rents are growing much faster. Just some food for thought.

    Austin is also very fast growing, as in more demand, limited supply. That's more likely the reason for the rapid rise, not the laws.

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  • Account Closed
    Investor · Leander, TX · Member since 2016 · 299 posts · 402 votes
    5y

    Alabama and Georgia 

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  • Stephen Stokes
    Rental Property Investor · Austin, TX · Member since 2016 · 317 posts · 257 votes
    5y
    Originally posted by @Jack B.:
    Originally posted by @Stephen Stokes:

    @Jack B. Are rent ratios adjusting to reflect increased regulatory risk premium? The unintended consequence of the actions you mentioned create hyper inflationary pressures so might be worth hanging onto if you already have a fixed mortgage payment for long term. Simply adjust your vacancy allowance to reflect the additional risk. You should see rents grow at much higher rate than unregulated markets. Heavy handed government actions meant to help the little guy usually hurt them the most. My market of Austin is a great example. We have complete centralized zoning and planning vs. other cities in Texas like Houston. As a result, our rents are growing much faster. Just some food for thought.

    Supply and demand...more demand less supply. Houston also has more demand but has more supply.

    Austin is also very fast growing, as in more demand, limited supply. That's more likely the reason for the rapid rise, not the laws.

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  • Neil Narayan
    Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes
    5y

    Texas

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  • Aaron Gordy
    Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
    5y

    The Lone Star State: Texas. The numbers are there currently and are there historically. 

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