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Pricing on everything will be getting even more expensive..
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Gavin doesn’t even help the homeless. He sits in his ivory tower laughing at the peasants.
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rents are easily up 20-25 percent in some parts
big hedge funds are in the game now...snapping up properties quickly and renting them out for new market prices
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Rent will always go up over time. It’s just inflation. Anyone who’s taken Econ 101 knows that. People make more money now then they ever have so naturally things have to cost more to balance out. Min wage was like $5 an hour 20 years ago. Now it’s $15 an hour. House prices are up, food prices are up, car prices are up etc. in 20 more years when wages are even higher everything else will go up too.
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LOL, I got a 14% increase this year -- always paid on time even through the pandemic...on the 1st every time, always with a cashier's check. Welcome to Build Back Better.
Better for whom???
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What's rent?
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Want to pay mine and find out?
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I live in Vegas and they also just raised my rent 200 as well
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Same Money now is worth more than money 10 years later. Buying power erodes over time due to inflation.
I am amused at the act of raising minimal wage and at the same time causing higher inflation. The raise in minimal wage hasn't kept pace with the inflation effect.
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CPI is 7% for the last 12 months. So….
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I thought this inflation was a combination of:
1. Lots of people buying stuff because they can't go anywhere (increased internal consumption)
2. Increased income because of higher wages and more cash flooding the system via government payouts and tax breaks.
Those are my assumptions. I hated economics.
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But we have known that inflation and wages don’t match up for years.
our current economic scenario was exactly what we were worried about before COVID hit.
Look back at the economic news for Feb 2018 and March 2019 and you will see that inflation fears were big headline makers.
At our office we were preparing for the middle of 2019 when inflation would help make determine more economic winners and losers.
We all know how COVID screwed up everyone’s plans, and that summer 2022 we were talking about inflation again as we recovered. Well, it’s here.
If you were not ready for it nor planned ahead, warning signs were there.
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@ArabianQueen, I think they raised your rent because of all the wild parties you throw at your place.
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Oh shut up Sherkahn!!!! You're one of those douche bag landlord's that's going around raising everyone's rent
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Vss4 lives in Las Vegas
AQ lives in Vegas
Therefore I blame Sherkahn for this because everyone else blames him for everything.
If this or my sentences writing style makes no sense
Well
You are right.
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Sherkahn is to blame!
Vss4 my parties are the best 😝
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I own rentals and this year I raised the rent 10%. Have not raised rents in years. The cost of water has gone up, the cost of taxes have gone up, the cost of gardening has gone up, the cost of the fucking air has gone up. Sorry but we either raise taxes or sell the properties. I can make a killing on that. I purchase the property at 320k and now I can sell it for 1.5m. But I do feel bad because the renters will need to find a new home. Which is better?
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It is about time for another debate regarding the pro's and con's of rent control.
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That’s right, vss4.
I am a landlord, and I have been very understanding and compassionate, but I have also had to raise rent as costs have gone up across the board. Only a fool who has no understanding of economics or the financial long game would not meet economic conditions.
Oh wait, I am addressing a fool.
Never mind.
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"Given the surge in market rents last year that are now gradually filtering into these indices, we can see what direction they're going this year, providing upward pressure on CPI.
The actual costs of buying a home spiked in 2021 by around 20%, according to the Case-Shiller Home Price Index, depicted in my series, The Most Splendid Housing Bubbles in America. This price spike leaves in the dust the Owner's equivalent of rent, the stand-in for the costs of homeownership. Both, the Case-Shiller index (purple) and the Owner's equivalent of rent (red) are set to 100 for January 2000."
Source wolfstreet.com
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I understand property taxes went up and other things have gone up it just confuses me that just two months ago people were filing for rent relief and landlords are being screwed because people weren't paying their rent when they should have totally been able to because they got extra money from EDD so I don't understand why people were holding out or not being able to pay their rent it just seems weird that it would just be rent increase time. It is what it is but thanks everybody for joining in on this blog here.
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Prices always go up at the first of the year. Why I bought a new MAC b4 the First. Just in case.
Wages never keep up with inflation, never will.
Yesterday I needed to make a pitstop, was at an iHop I go to once in a while, off the 71/60 , it was closed. The B of A their has been closed ever since the start.
Same with a PepBoys near me and so was the Office Depot. Staffing shortages ?
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Broadly speaking Isn't that how our economy works with our 'entitlement' system?
You have been good, paid your rent as agreed, didn't take advantage, even though you probably could have.
Landlord gets screwed by other who game the system, they get hit and.... well, shit rolls downhill. He raises rents across the board to cover his past losses.
Welcome to "paying your fair share"
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Mine went up 8o bucks. I'm for sure you will go up every year
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inflation - cost of everything is going up. especially materials for repairs, etc
'rent relief' - you might have paid your rent but many others didn't over the last year. landlord has probably been operating on a deficit for months
$15/hr minimum wage- renters can afford more rent.
there are many reasons to raise the rent. welcome to binden's new economy 
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Forget wages for a second. Producer Price increases are rising faster than reported inflation (~9%), ie Consumer Prices. This means the items on the shelf today will be at least 9% more expensive once stock supplies are depleted and replenishment cycle commences.
Housing, Food, Energy, Consumables all going up.
(Jesus Christ I sound like DOOM!)
We are no where near 'PEAK' inflation. Just wait until 3rd Qtr and beyond.
And don't get me started on the Federal Reserve and their "2%" inflation target they blew past a year ago.
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My current renters have lived in my property for almost 4 years. The rent Imy wife charges has not gone up since they moved in. They are good people, they take care of my property.
My wife wanted to raise the rent. Why? Because wife's heartless and greedy realtor friend says the rent is below market.
What do I care? I don't collect the rent. So wife says how much more can I get? I said, maybe 3%? So if I don't raise rent 2 years I can get 6% more?. No. Doesn't work that way. 3%. Max.
She talks, but I don't agree, and don't raise rent. No reason to.
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I'm a landlord and on the residential properties I haven't yet raised the rent, I also haven't raised it in 5 years. The people in the houses are great tenants who take great care of the properties.
They're so good that when the lockdown went into effect and they couldn't work I told them not to worry about the rent til they went back to work and we'd work something out.
On the commercial properties i.e. apartment buildings I'll raise the rent after someone moves out.
For the people that have been in the apartment a couple + years I'll probably raise it $50 -$100.
Why? Maintenance, property taxes etc. have all gone up.
Am I making a killing on the commercial? Not really but I'm happy with a return of $100 - $200 dollars per month per unit.
Residentials are different cause you don't make money on the front end but on the back end.
Atticus Finch
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I own property, but I was already charging "market" rates with 8% extra margins built in, so now I don't have to raise my renter's rent. So now, I look like a genius for hedging and a saint for not raising. 
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It's bad all over LB!!
People are greedy.
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^if by “people” you mean, politicians, then yes.
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I'm greedy as fuck
that's why I'm not paying OP's rent
whatever that is
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just watched a youtube clip...living in thailand for under 600 a month...probably up it to 3-10k month and it would be 10hrs of massages a day
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California Rent Stabilization Laws
In 2019, California passed AB 1482, imposing statewide rent stabilization and eviction restriction. The law restricts rent increases to no more than 5% each year, plus a local cost of living increase allowance of up to 5%.
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If your Rent is $4000, then the 5% is considered to be within the scope of the new law.
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LA county only allows 8% rent increase unless its an owner-occupied property..most counties in CA are between 3-8% so check...Owner-occupied can raise to whatever they want (like if you are in a guesthouse or duplex)
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it's when these places turn over is where the big increases are coming in
if you are in there and a good tenant...the increases should probably be minimal...UNLESS they know they can take 4k/month place and get 5,5k/month...raising it up is way to get you out
that shit can backfire on them...nothing like a 4-5month alligator to clench your butt cheeks
then YOU have to decide if it's worth it. renting 5k/6kplus places generally cost you 20k min. to move and easily 30k getting it to your liking furniture wise...sometimes that's why you would put up with 200 here and there increases. new landlord will have you over a barrel if it's a 1year lease...they know you just spent a shit load and don't wanna do it again so soon
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those have a big following...have em in VR also
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Interesting article about how one member at the Fed, Thomas Hoenig, predicted a decade ago based on his experience with during the 1970s when inflation was out of control, that the quantitative easing and easy money policies enacted in 2010 would eventually lead to rampant inflation and widening of socioeconomic inequities. He was apparently the lone voice of dissent against Ben Bernanke at that time, and lodged the longest string of No votes in Fed history, a by-the-book banker who became an unlikely rebel. No doubt personnel staffing shortages and supply chain issues due to COVID have also contributed and of course these events could not have been predicted a decade ago, but the foundation for inflation was already laid, according to this article: “ We are now living in a world that Hoenig warned about.”
https://www.politico.com/news/magazine/2021/12/28/inflation-interest-rates-thomas-hoenig-federal-reserve-526177
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I see a lot of talk on here on not raising rents, or very modest percentage increases.
I wonder what the thoughts are on keeping the rates the ladies charge at a given level with no large increases.
I doubt the opinion would be the same.
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'it's when these places turn over is where the big increases are coming in'
That's very true IS. The commercial properties I buy are all 'up keep challenged' and the rents are a minimum of 12% below market, usually I buy from private owners who are tired of owning them and can't keep up with the maintenance and haven't for awhile and haven't remodeled the units in at least 10 years.
First thing I do is send out a letter to all the tenants telling them the rents will be going up to what ever the market is in 3 months and that if they want to move out before if they let me know their rent will be discounted by 50%. I'm hoping that at least half will vacate. Usually more then 50% vacate which is awesome.
At that point I can go in and remodel the vacant units, do any necessary maintenance like repaint the exterior, new roof, clean up the landscaping add carports etc, when done any tenants that stayed through the rent increase are offered one of the remodeled units for the same rent and a new 1 year lease.
At market I won't have to raise the rents for at least another 2 - 3 years.
Problem is that the bigger complexes - 50 units or over, the investment companies have investors who expect a return so they have to raise rents astronomically.
I don't buy any complex over 20 units it's just easier to manage and I don't have to have investors unless a friend/s wants to come in. I also don't have to deal with investors and their expectations.
Atticus Finch
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$350 as of 3/1 15%
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mine went up for the first time in 5 plus years,by $75. I had one landlord (the original) until he sold the place and even then the new landlord didnt raise it on me because i take care of the place. I couldnt be too mad with em its the first time and they gave me 3 month notice. Price we pay to live in Cali,nothing is cheap and its always going up.
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unfortunately, all businesses are getting increases of their own
supplies, software, labor
or hotel costs
i'm sure REGS get the best treatment and if they were good REGS they would be increasing happily on their own...appreciating the efforts and time gifts
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