Yes, I'm a Conservative, But SOME Rent Control IS Necesary

[Pilot1]

^^^^^Have you seen their financial statements, and operating expenses for the past several years? Have you seen their Proforma for future revenue, and expenses? Do you realize that there may have been deferred maintenance, and now a great need for Capital, and Operational spending to keep the complex an attractive place to rent?

The MARKET sets the rental rate. If the rent is too high for the market to bear, the new owners will not be able to lease the apartments, and will HAVE to lower rents in order to hit their target Occupancy Rate, which is 95%. 100% occupancy means your rents are too low.

 

[protectionist]

That's really up to him and nobody else what he does with it. If that's what he wants to do, he owns it. He can do as he pleases. If his plans end up being a failure, then it's on him or his company. Saying he shouldn't be allowed to buy those apartments if he is going to raise rents so high is like saying you shouldn't be allowed to buy that new car unless you have it washed once a week. It's not your dealerships concern what you do with that car after you bought it.

I'm not buying that analogy. Nobody is harmed by not washing that car. Hundreds of people are being harmed by this sale, and its extraordinary rent increases.

 

[protectionist]

Then move to a neighboring property.

I'll cash your check as soon as I receive it.

 

[protectionist]

And not for an apartment complex owner?

Not 60% rent increase per apartment, NO.

 

[WinterBorn]

Then move to a neighboring property.

I'll cash your check as soon as I receive it.

I’m not complaining about prices, dumbass.

My mortgage is nice and stable.

 

[protectionist]

I thought that is the good old republican way.
I have mine screw the rest
It's called capitalism

You think wrong.

 

[Ray From Cleveland]

That's really up to him and nobody else what he does with it. If that's what he wants to do, he owns it. He can do as he pleases. If his plans end up being a failure, then it's on him or his company. Saying he shouldn't be allowed to buy those apartments if he is going to raise rents so high is like saying you shouldn't be allowed to buy that new car unless you have it washed once a week. It's not your dealerships concern what you do with that car after you bought it.

I'm not buying that analogy. Nobody is harmed by not washing that car. Hundreds of people are being harmed by this sale, and its extraordinary rent increases.

You can use any analogy you like, but I think after you move and allow the anger to escape, you'll see what's wrong with your rent control suggestion. It just isn't American.

I've been on both sides of the aisle. Before I bought this place, I was a renter here. In fact I was a renter for 12 years prior to that. I've been kicked out of a place before because the landlord wanted to rent the place to his sister. It put me in a very bad position because I was living with my girlfriend at the time, and she had two children. Back then, you were allowed to discriminate against children and there was really nowhere for us to go.

 

[protectionist]

So what you are suggesting is that government interfere so that a persons investment could only realize X profit. What if we limited profit on everything using government?

That would be unacceptable. But "everything" isn't the same as what anthropologists call the "basic element of human survival - shelter".

 

[Natural Citizen]

"Going" costs money, and it's not easy to do when you have a cat. I have been thinking about going to Johnson City, TN, but getting there is the problem.

Most of my family was born in Johnson City. Cool place then, not sure about now, though.

Check out Damascus Va. That's where I grew up, we still have the property down there, too, 144 acres to be exact. With a trout river and a spring. How's that for living, huh?

The town hasn't changed in the 50 years I knew it.

Clicker - Home

The outskirts of town are truly colonial. As you venture into the trails in the mountain area, you'll discover some of the most beautiful waterfalls an Earth.

The school is still there, too, though it's now converted to an apartment building, it's the school I went to, they made it out of rocks from the beaver creek.

 

[protectionist]

A "degree of rent control" is rent control.

Not! As my old physics professor used to say. >>

"Qualitative measures are what they are, only in terms of Quantitative measures."

 

[Ray From Cleveland]

So what you are suggesting is that government interfere so that a persons investment could only realize X profit. What if we limited profit on everything using government?

That would be unacceptable. But "everything" isn't the same as what anthropologists call the "basic element of human survival - shelter".

It is the same as any other investment. You pay money to buy something hoping for a good return on the money you paid.

 

[bripat9643]

Because you're only looking at things from your own perspective. You have to put yourself in somebody else's shoes and look at the entire picture.

I can only speak for myself of course, but I don't rent apartments to help anybody out. It's a business deal like any other. The market dictates what my price range is. Don't get me wrong, if one of my tenants is having a hard time because they missed work due to illness, their only vehicle broke down and it cost them a lot of money, a sick child or something, I could work with them, but I wouldn't offer somebody an apartment who came with such problems.

I have to keep the water running. I have to pay the mortgages so I don't get foreclosed on. I have to pay the insurance so the banks don't rescind the loan and demand full payment. Property taxes are an arm and a leg here because they built new schools several years ago (which I voted down). I have bills to pay. When those costs go up, I have to find the money to keep up with those bills.

Just one instance: I bought this place 25 years ago. Since that time, property taxes went up 120%. How do you keep up with that without increasing rents?

I never said don't raise rents. I just said don't raise them 60%, (which no other complex is doing) I owned my own business for 13 years. I know all about expenses. I didn't own real estate, but I paid a fortune in advertising.

Let's not change the subject. These guys are just GREED sharks.

I admit the new owner sounds like a total douche, but freedom is where people are allowed to act like douches so long as they don't violate anyone's rights, and you don't have a right to rent an apartment at a given rate indefinitely. In the end, this guy may find he has an empty building on his hands, and he will have a hard time filling it when his reputation is known.

 

[bripat9643]

A "degree of rent control" is rent control.

Not! As my old physics professor used to say. >>

"Qualitative measures are what they are, only in terms of Quantitative measures."

Tell your physics professor to drink some soda that only as a little bit of cyanide in it.

 

[Pilot1]

Not! As my old physics professor used to say. >>

"Qualitative measures are what they are, only in terms of Quantitative measures."

Basic Russian military philosophy. "Quantity has a Quality all its own".

 

[protectionist]

You are limiting someone else's ability to earn. How would you like government forcibly limiting YOUR ability to earn, or receive whatever fixed income you receive? Why is it OK to limit others, but not for you to be susceptible to the same limitation?

It's OK because I'm being forced out of my HOME. That's not happening to the landlord. And there are plenty of things limiting the landlords ability to earn. I already listed some of them. >> smoke detectors, heights of buildings, lead paint restrictions, asbestos restrictions , etc, etc

 

[protectionist]

I don't think it's a question of survival for the new owner. Let's say he bought the place for 10 million dollars. 10 million dollars could be better invested somewhere else if he was not able to carry forth his plans with the place. But he calculated that his investment was going to pay a reasonable return if he used whatever plans he has.

In that short paragragh, you said the word "he" or "his" 7 times. Not once did you mention the hundreds of people losing their HOMES.

If you live in a unit for 5 years, 10 years, 25 years, it comes to be YOUR HOME, no matter who owns the title.

 

[depotoo]

And not for an apartment complex owner?

Not 60% rent increase per apartment, NO.

How many years had it been since a rent increase for those with that percentage of increase? Are they doing any improvements? Have to replace faulty equipment? How much more value of the property between when the old owner and the new ne purchased? How much more insurance is required vs the original owner? Does the mortgage holder require more insurance than the last did? I could go on and on. You as a renter have no idea all the variables that could have changed from one owner to the next.
You seem to be of the thought that nothing affects it, but you are mistaken.

And why not consider one of the other properties down the road you state are still much cheaper?

 

[protectionist]

^^^^^Have you seen their financial statements, and operating expenses for the past several years? Have you seen their Proforma for future revenue, and expenses? Do you realize that there may have been deferred maintenance, and now a great need for Capital, and Operational spending to keep the complex an attractive place to rent?

The MARKET sets the rental rate. If the rent is too high for the market to bear, the new owners will not be able to lease the apartments, and will HAVE to lower rents in order to hit their target Occupancy Rate, which is 95%. 100% occupancy means your rents are too low.

The MARKET in this area doesn't require rents as high as the new owner is charging. Other complexes charge the previous rate, and they're not going up by this extreme amount.

 

[protectionist]

I’m not complaining about prices, dumbass.

My mortgage is nice and stable.

You are the "dumbass". I was referring to my costs of moving, which YOU SUGGESTED. Get a brain transplant.

 

[Ray From Cleveland]

I don't think it's a question of survival for the new owner. Let's say he bought the place for 10 million dollars. 10 million dollars could be better invested somewhere else if he was not able to carry forth his plans with the place. But he calculated that his investment was going to pay a reasonable return if he used whatever plans he has.

In that short paragragh, you said the word "he" or "his" 7 times. Not once did you mention the hundreds of people losing their HOMES.

If you live in a unit for 5 years, 10 years, 25 years, it comes to be YOUR HOME, no matter who owns the title.

I understand that whole heartedly. I understand how angry you must be. But rental is no different than automobiles, houses, stores, restaurants. It's an investment and as a renter, you have to expect anything.

It's like when a company buys another company. The new owners always tell employees nothing will change, you won't notice anything but improvements. I've seen this many times and I worked for a company this happened to. Within five years, every one of us who worked there were gone and replaced by all new workers. Less money, less benefits, and the new owners could care less about us. Find someplace else to work.