Is Your Rent Increase Justified?

[@DavidKlausa]

When we talk about cost of labor and materials increasing, I ask why that is. One reason I can think of is not enough young people entering the trades, so there isn't enough competition. When you finally find a good landscaper or HVAC guy, they can pretty much charge whatever they want.

[@AroundTheHome1]

It just comes down to crazy inflation, I mean we could spend a lot of time breaking it down to specific areas like supply and demand, shut downs from Covid, people demanding entry level jobs to pay $15/hour. Everything is a mess.

[@DavidKlausa]

@@AroundTheHome1 Agreed. It would take a Phd to get to all the root causes, but the reality is landlords have to raise rents, or they're giving out charity.

[@Slaptastic1]

How do you prepare your home for severe weather? Looks like some is potentially going to affect your area this week.

[@AroundTheHome1]

Good question! That is different for every area. Where my house sits, I am towards the top of a hill so I don't have to worry about flooding. But if you are towards the bottom of a hill or in a very flat area, then making sure your sump pump is working correctly. Also, making sure all your gutters and downspouts are working is very important. I like to walk around my house during the rain, not a crazy storm, and make sure everything is working as it should. If you have noticed any shingles that are loose, gluing them down is good. I like to use roof patch in a caulking tube, and just putting a bead under the loose shingle. Of course, don't do this if you are afraid to go on the roof. Or if you just shouldn't be up there. Making sure tree limbs are cut back is also a great thing to do. I love the shade that trees give, but they should not be stretching over your home. Easy for a large limb to break and then damage your home. Those are just a few, but I think some of the more important things to do for strong storms.

[@pamelascott3184]

I understsnd but can they get awsy going up yearly , and no repairs, not upgrades, i had no electricity in my kitchen for four years. When the owner came in and saw the needed repairs, no fault of mine, when I asked, he said , " You want to stay in house? When I said yes, he told me when you move I'll make repairs. Needless to say I moved.

[@AroundTheHome1]

Sorry to hear that. Bringing the prices up like I mention to cover higher repair costs, higher insurance, higher taxes sometimes has to happen. Now saying that everything in the house should be working correctly, price increase or not. I have seen both sides of this one. I have worked for landlords that do always make sure that the house was working right. And then time after time they would get screwed by tenants damaging their house and leaving it trashed. Then I have seen people who are good renters and the landlord just refuses to fix stuff. Kind of messed up.

[@johnborris3572]

I'm from the uk and have the same problem luckily my landlord told me a couple of months before he put the rent up

[@AroundTheHome1]

That's good. All these price increases since Covid have been killer on families.

[@alitpotato8298]

It's not. They wait until the new year to they can double the increase, 3 years of living where I live and there hasn't been a single upgrade done to the place. Bunch of slumlords who want their tennants to pay the price for mortgage rates that were clearly going to increase. Over 25% of my income goes towards rent and they wonder why people can't afford anything. Income properties is the name of the game.

[@gregoryg]

If you don't like your landlord, you are always welcome to move somewhere else. My taxes and insurance any my rental properties went up 30% this year. If you think I am not passing it on to the tenants, you are crazy

[@DISHMAN01]

My rent went from 1800 to 2450 in 2 years.

[@DISHMAN01]

Same owner as well

[@AroundTheHome1]

Sounds like they went more with market value instead of their cost. They should have increased some, but not like that...

[@alitpotato8298]

You seem like a bad landlord. Trying to justify a 50% increase in rent is ridiculous. But hey, at least you were honest and said you were going to filter through all the comments. You're making 20-30 thousand dollars a year off rent, which in some countries is almost the average salary. And you're trying to explain why people should have to pay 1.5x as much as before? Get a grip my guy.

[@AroundTheHome1]

@A Lit Potato, we will see if your comments stay for much longer for they are very accusational. First, I am not a landlord. I mention my family used to have a couple of rental properties, let me reiterate used to. I also said that I used to help some people with their rentals. I do not, nor have I ever owned a rental property myself. Second let me educate you just a little bit. The average landlord here in the states does not make 20-30 thousand a year. They actually make almost nothing. I know that you are angry and may not listen to anything that I say here, but I am willing to give it a try. The landlord should collect an excess every year from your rent, but this in not for income. This should all be put aside into a maintenance account. Not only for things like water heaters like I mention in this video, but a new roof. Roofs last really no more then 20 years on average and cost over $8000 before 2022. An average person that decides to invest in rental property will have a 25 to 30 year loan on that property. So they will replace that roof almost guarantied. They will also replace the carpet after almost every tenant and repaint the inside. So, I always tell people that ask me if they should invest in rental properties, that you should expect to make no money off of it. You are doing really good if you break even after the first year. Then after the first 5, and ten years if you still break even at $0 costs over what you brought in. The cash out is when you sell and the property has increased in value steadily since you bought it. I challenge you to walk in the other person's shoes before you judge them. You obviously have not because you somehow think that landlords are making a living income every year off of 2 rentals and that you are the victim here. I can't tell you how often I have been called in to repair thousands of dollars of damage caused directly from the tenant. And let's not even get into how badly most tenants leave the property.

[@Bellababe777-in2jp]

It should be against policy for you to have honest comment’s removed

[@AroundTheHome1]

Honest, well that word seems to be connected more with feelings these days instead of truth. If you want to have a respectful conversation here, whether or not I agree with you that is fine. But the moment viewers decide to use my channel as their own platform, or just come on here with hate and disrespect the comment is gone. If you disagree then you can do what you want with your own channel.