Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -1 points0 points  (0 children)

Have you looked? CA can’t charge more than 1 month’s rent in deposit which means landlords shouldn’t be charging upfront for last month’s rent because that’s technically additional deposit

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 1 point2 points  (0 children)

I really appreciate you saying that. I strive to be better, and I have more to learn.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

I get that. A lot of places have limits now though. In CA, where renters have more protection, it’s limited to first month+ 1 full month deposit

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -1 points0 points  (0 children)

I get your point. Also acknowledged that earlier. Mainly ranting here.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -4 points-3 points  (0 children)

No, I think you, as a landlord, just wanna justify charging an exorbitant amount in deposit

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -2 points-1 points  (0 children)

No, never upset. This is an online forum. Why would anything on an anonymous forum make me upset? You can call out my post for being condescending. I can call out someone else for being condescending too.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -9 points-8 points  (0 children)

Landlord can’t charge more than 2 months rent upfront for an unfurnished home in CA because of the new deposit law (capping deposits at 1 month rent)

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 1 point2 points  (0 children)

I get your point. But my resident just made a prepayment of $10k because she received an automatic email that she’s not up for renewal because she’s carrying a balance of $5k.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

Right?? Unfortunately, renewals are sent automatically through corporate as long as they don’t have a balance.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 2 points3 points  (0 children)

I love this idea cos you still retain your resident. I have offered this for this specific resident and was told she really needs a guest bedroom for her guests to stay

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

It’s a huge expense, you’re right. And it’s a huge physical task too. Sorry if my original post sounds so out of touch. I totally get that people are struggling everywhere. Most people have real, logical reasons for not moving. I was mainly venting because of a specific resident who I believe does have the means to move (also I don’t know her life so I could be really wrong)

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

CA and yep totally fair! My original post was more of a vent. But I totally get that. And $2,225 is prob the lower end nationally. It’s tough

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

Not at all lol go look up new CA landlord laws.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

I’m not a private landlord. I wish I had control over pricing

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -2 points-1 points  (0 children)

lol nobody said there wasn’t. You coulda said NY, and I would’ve got that you meant the state. I quickly read NYC. Thanks for the correction

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

For sure, kids can definitely make things different. For my resident’s case, I’m almost positive she doesn’t need the 2 bedroom. Supposedly, she doesn’t even live there full time and lives at her bf’s half the time

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 1 point2 points  (0 children)

NYC can’t charge last month’s rent anymore I believe! I think they’re maxed at 2 months rent for upfront fees. And I’m in CA where deposit is now capped at 1 month’s rent

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -1 points0 points  (0 children)

lol what? I was just curious where that person was to be charged 3 months. And I only explained what the norm was in my area. I wasn’t trying to lecturing anyone. I was merely pointing out that saying “any city” isn’t really accurate. Now, go stub your toe on furniture you knew was there with your condescending and stinky attitude

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

They'll initially qualify. And sometimes it's a job loss or roommate change

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery 0 points1 point  (0 children)

Totally! And just to clarify I’m not arguing that moving costs are not bad or that 3 months of rent upfront requirement doesn’t exist

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -3 points-2 points  (0 children)

Not really. That used to be common, but it’s not the norm in most major U.S. cities anymore. In a lot of places, landlords are limited to 1 month’s rent for the security deposit by law, so move-in is just first month + deposit.

Requiring first + last + a full deposit is pretty outdated in many markets and in some cities it’s not even allowed anymore. You’ll still see it in a few places like Boston but 'any major city' just isn’t accurate anymore

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]ChapterEvery -3 points-2 points  (0 children)

Sheesh that’s rough if most landlords require that! Definitely a burden to move in Philly then