Viewing a single comment thread. View all comments

Ill_Temperature_4654 OP t1_jac0tp1 wrote

Reply to comment by panda-attack in Landlord wants to raise rent by $100 a month. Do these numbers sound fair? by Ill_Temperature_4654

Thanks so much for validating my thoughts. Do you know how to go about finding fair market value? Is there any sort of data base for what’s being rented currently?

10

Antique-Zucchini3250 t1_jact58x wrote

We ended up having a couple of properties that we rent. What you describe feels immoral to me, but in landlord discussion groups, they seem to have this obsession with "market value", which is an unfair simplification of things (not to mention fully ignores the supplier's role in tacitly agreeing with other suppliers to inflate the value and then blame "the system" when questioned).

Unless you find someone decent and who willfully chooses to reject all that rhetoric (people on that side like to act like they have no choice over pricing, yet we have been charging well below market value in our rentals and haven't gone bankrupt or had any catastrophes happen in almost a decade), chances are it will be difficult to find a fair price. Because a ton of greedy people gravitate towards renting, since the are almost no protections to the renters.

Your best bet will be small landlords (who usually make a living other way and happen to have a side thing with rentals). Word of mouth is best, in my experience.

8

panda-attack t1_jadobj8 wrote

This should help

3

Ill_Temperature_4654 OP t1_jadpi13 wrote

Thanks! I’ll look at it later today. Is there a standard way of asking for the application fee to be returned or would that have to go through small claims?

1

panda-attack t1_jadthco wrote

I would ask your PM for a break down of what the specificities of the application fee were and consult a lawyer about it.

Something doesn’t add up but I’m not a lawyer so me advising you taking it to small claims on your own would be unwise.

I will say that someone earlier posted a link to VA code and I would dig through that as well

3

SlowInvestor t1_jac8ycm wrote

Look up your place on Zillow. Look closely as it usually lists a Rent Zestimate. Also check Rentometer.com

As for the fees they are way high. Who’s the PM?

1

chasetwisters t1_jacm03j wrote

Zestimates have become crap. There are three well kept, near identical houses in my neighborhood that range from $170k to $512k in their Zestimate.

14

Charlesinrichmond t1_jada78z wrote

it would be great if zillow rent zestimates worked. But they are utter crap.

3