University Heights Rental Inspections

7 Replies | Cleveland, Ohio

Thanks for sharing.  What a racket.  They already get you on the property taxes.  Now they doubled the frequency and expense of the permits.  Yikes.  No more shopping UH homes for me.

This is insane.  I almost bought a UH property but the taxes were just prohibitive.  Now they have this goofy, expensive inspection process that makes investing in UH even tougher to make the numbers work.  It's a shame.  They should be encouraging investment in Cleveland but their policies do the opposite.

Thanks for the info... this does not sound right... I will check it out and post an update.

Bob Collett

Originally posted by @Daly Vaughn :

Thanks for sharing.  What a racket.  They already get you on the property taxes.  Now they doubled the frequency and expense of the permits.  Yikes.  No more shopping UH homes for me.

 I don't think an extra couple hundred bucks makes a difference in the bottom line of an investment as large as rental property. Drop in the bucket, it is what it is.

@Bob Collett , Unfortunately, i just spoke with Dee from the building department about an unrelated issue and she confirmed that the information in this article is true.  Doubling cost and frequency on this rental permits.  If you've recently had one done, you are grandfathered for the 2 year period, but then you will have to get in line with the new requirement.

@James Wise , I suppose if you are cash flowing well enough to begin with on any prop, you can sustain pulling this unexpected addt'l annual expense off your bottom line numbers without it hurting you too much. I'd counter that there isn't too much, especially out on MLS in current market, that would come close to making sense in University Heights as a rental right now. Especially if you factor in this on top of already thin margins due to crazy high prop taxes. Just my 2 cents. Interested to get your perspective on this town relative to other rental areas in greater NEO.

Originally posted by @Daly Vaughn :

@Bob Collett , Unfortunately, i just spoke with Dee from the building department about an unrelated issue and she confirmed that the information in this article is true.  Doubling cost and frequency on this rental permits.  If you've recently had one done, you are grandfathered for the 2 year period, but then you will have to get in line with the new requirement.

@James Wise, I suppose if you are cash flowing well enough to begin with on any prop, you can sustain pulling this unexpected addt'l annual expense off your bottom line numbers without it hurting you too much. I'd counter that there isn't too much, especially out on MLS in current market, that would come close to making sense in University Heights as a rental right now. Especially if you factor in this on top of already thin margins due to crazy high prop taxes. Just my 2 cents. Interested to get your perspective on this town relative to other rental areas in greater NEO.

 Cash flowing or not if $200/yr one way or the other has any relevance to an owner of a rental property that person should not own a rental property.

@James Wise

I agree with you that this shouldn't make or break you or you have bigger problems.  I was asking more about your thoughts/perspective on UH vs. other suburbs for investors in greater NEO?  I.e., what is the best and highest use of money.  But thanks for responding i guess?