4 ms·
I thought the same thing. I own 6 rental properties, and there is no way serial eviction is a profitable business model. I want my tenants to stay in the proper
by joshuaheard 5y ago
I thought the same thing. I own 6 rental properties, and there is no way serial eviction is a profitable business model. I want my tenants to stay in the property because tenant turnover is costly. You lose at least a month's rent while the property is on the market. If the tenant is represented by a real estate agent, they get 1/2 month's rent commission. At minimum, you must pay to clean the property, but usually, to keep the property marketable, you must paint or replace carpeting. Then there are the repairs and maintenance that must be done while the property is vacant. If you must go to court to evict, there is usually a months' long delay and the legal costs. And, I can't just wave my hand and keep the security deposit. In California, it can only be used for damage caused by the tenant, and any forfeit must be itemized.
The dirty little secret of high housing costs is illegal immigration. We limit immigration for a reason, and that reason is not to overburden our infrastructure. When you bring in an excess 1 million people, as we did last year, nearly all of them low wage workers, they take up the little amount of low income housing stock available. That drives up costs. There are other factors, of course, but that would be the easiest to remedy.