Lifestyles of the Rich and (Entitled) Tenant Prospects

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Submitted by Coronita on April 8, 2021 - 11:24am

I'm starting this thread because in the course of finding tenant prospects, occasionally we run into a few interesting characters in what they are asking/demanding.. Some just downright silly, like the time one tenant prospect asked if it was OK that I put in a Jacuzzi in my backyard because they wanted one.

I was like WTF?

Anyway, all you landlords out there..Share your funny story here!

Submitted by Coronita on April 8, 2021 - 11:35am.

"I want a rent discount because I really can't afford what you are asking for...But I need you to modify your rental house to fit an enormous home gym!!"

????

What the Fvck?
Good luck with your search, buddy.

Submitted by gzz on April 8, 2021 - 11:43am.

As a land lord Im open to a high'er monthly rate. Cant modify the gar'age... but I have a very large tarp that could cover the very large gym equip ment.

Submitted by gzz on April 8, 2021 - 11:45am.

>I was like WTF?

Good rule for life: never hurts to ask.

Submitted by Coronita on April 8, 2021 - 12:38pm.

gzz wrote:
>I was like WTF?

Good rule for life: never hurts to ask.

Maybe, but at the same time, questions like these are make think

"gee, just how needy and pain in the azz can you be for a rental?"

Given the choice between an extra $100-200/month or a smaller pain in the ass factor, I'd pick the latter.

Submitted by Escoguy on April 11, 2021 - 6:32pm.

I have a tenant since 2018. Initially a one year lease.

Since inception, pays $3450 for a 4 BR, was at market at the time (with solar) but now significantly lags by $500 to $700 per month.

When I asked for a $25 increase, he pushed back saying in his experience house payments are fixed. He had not rented in decades.

He is an older gentleman (there is minimal wear on the house) and I am being patient, but that being said, I will start raising the rent by at least $50 per year to ensure the higher costs (property taxes/insurance/HOA) are covered.

I have another one close by which is somewhat nicer at $4500 a month for comparison.

Another one close by goes for $3900 without solar.

I do want to keep him because he has a lifetime guaranteed income from a major medical group in the area but rent can't be fixed forever.

Submitted by Coronita on April 11, 2021 - 7:56pm.

In the past, the tenant pool for 92130 seemed to be really painful. People who were tenant prospects in past years seemed to be really picky, and demanding, at least from what I experienced.

There was one person who asked for a jacuzzi to be installed, another thst asked me to change the carpet upstairs (it wasnt that beat up). One that wanted to replace cabinets after I already replaced the counter.

And of course there is always a "Karen of UCSD" of Karens that always starts out with "hi, my daughters(or sons) got into UCSD and we wanted to rent your house so we dont need to drive as much from Orange County...."

(Basically, 90+% of the time, it's a housing agency that will rent out your house pretending to be a USCD parent, but then end up subletting each of yourbedrooms to incoming UCSD students from overseas for $1800/month per room, without telling you....every single time..)

And if you do find a tenant, they wont stay that long since they will try to buy in 92130.

This year, though it seems different....This year, i guess because of how ridiculous home prices have gotten, I got interest from some who have to move becsuse the landlord decided to sell. So a lot of homes seem to be falling out of the rental pool. Also, it seems like a lot of people can now work remotely indefinitely and many seem like they want to be in San Diego. Some of them are trying to buy a home but due to supply constraints, they cant. So now they too want to rent... And then there are professionals who live in more expensive SF and LA or OC, that now can permanently work remotely, would rather rent a 4-5 bedroom home in San Diego with a nice public school district and pay almost the same amount as they were in SF/LA/OC with half the number of rooms and sq footage and lesser performing public schools, who ask about the possibility of a long term lease...People who have more than enough income, 800+ credit scores and $200k+ household incomes.

Those are the keepers.

Seems like much lower rental inventory, much better quality of tenants this year...and about $700/month higher rent price for me than last year. Otherwise i would have seriously considered selling...

92126, on the other hand has always been a better rental market. Purely from an economoc standpoint, i would be better off financially if I sell my 92130 sfh and buy 3-5 more 92126 condos.. it would cashflow better.

But then again, while selling wouldnt be an issue, finding 3-5 good condos in 92126 would be an issue. So i took the easy way out and leased it to the nice financially well qualified people who hopefully will stay for while. Also, i close on my cash out refinance this week. So im on the market to pick up #5 and maybe#6. Heh heh. But no really, im just small potatos compared to you Esco....I wish i started earlier in real estate. For me its kinda fun...not as fun as working on cars..but almost.

But this year, it felt good to be able to say to 92130 Mr Jacuzziman and 92130 USCD Karen ...."Good luck with your 92130 rental search...."

Im excited by my new tenants. I like them...Even though i probably didnt have to, im throwing in central AC into house that really doesnt need it, at my cost.

Submitted by spdrun on April 12, 2021 - 11:46am.

(Basically, 90+% of the time, it's a housing agency that will rent out your house pretending to be a USCD parent, but then end up subletting each of yourbedrooms to incoming UCSD students from overseas for $1800/month per room, without telling you....every single time..)

If that's the case, shouldn't you just undercut the agency and lease bedrooms directly at $1500/mo? I'd imagine that there are online forums where there's a market for such things.

Submitted by Coronita on April 12, 2021 - 12:30pm.

I don't need to squeeze every penny out of people at the expense of convenience. I value my time more so than money because frankly I have enough money to enjoy my life as is these days.

Submitted by gzz on April 12, 2021 - 12:40pm.

"shouldn't you just undercut the agency and lease bedrooms directly at $1500/mo?"

No free lunches in the real estate market.

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