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Home Owners "Ripping-Off" Renters ... "Shame on You" ... ;o(

By Robert Vegas Bob Swetz

Industry Observer

October 03, 2011 04:12 AM

Well here is another great reason to purchase a home vs renting ...

Home Owners and Investors "Ripping-Off" Renters

I have several clients that Rent Homes in Las Vegas Nevada ... 4 bedroom Homes and one family is paying 1200 per month and their lease is up and the Home Owner wants to increase the rent on the Home to 1400 per month.

The home my clients are renting are around 80-90 thousand dollar homes, so the mortgage payment depending on how much was put down and the interest rate would be around 400-500 dollars per month. And the Home Owners are renting these homes out for 1200-1400 per month, this is worse than the "Rip-Off" Loans that the BANKS created for people purchasing home several years ago ...

All I can say is "Shame on the GREED of these People" ...

Robert (Vegas Bob) Swetz 10-3-2011

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Susan Jackson

America's Network Realty Group, Inc - Sandy Springs, GA

Takes all kinds

Oct 03, 2011 04:20 AM

Lucien Vaillancourt

Native Sun Realty, Inc. - Jacksonville, FL

Jacksonville Florida Real Estate

Robert I am thankful for greedy home owners ripping off renters. It gives people more incentive to own their own homes so they can become the new greedy home owners. It's called capitalism in a free market. If the market will support higher rent then the home will be rented. If not the home will remain vacant until a reasonable rent is set.

Oct 03, 2011 04:22 AM

Robert Vegas Bob Swetz

Las Vegas, NV

Hello Susan and don't you wonder why so many people are GREEDY?

VB ;o)

This is all good Lucien, but the Banks & Lenders aren't financing so many of these clients interested in purchasing homes that they are getting "Screwed" ...

Oct 03, 2011 04:55 AM

Lou Ludwig

Ludwig & Associates - Boca Raton, FL

Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Robert

It makes a lot of sense to buy real estate and own your home.

Good luck and success.

Oct 03, 2011 06:01 AM

Donne Knudsen

Los Angeles & Ventura Counties in CA - Simi Valley, CA

CalState Realty Services

VB - I see the same crap here too and quite frankly, it's such a great way for me to prove to prospects that it's better to own than rent. I have so many borrowers who are paying less to buy a 3-4bd SFR than they are paying to rent a 2bd apt or condo.

Oct 03, 2011 09:08 AM

Amy Robinson

London Pierce Real Estate - Scottsdale, AZ

Realtor, Scottsdale Arizona Homes For Sale

Hi, We have the same rental situation here. The rents are up becuase there is so much demand. It is hard to have your rent raised when you have been in the same house for a year. With so many with shortsales and foreclosures they have no choice to pay what is asked. It is unfortunate!

Oct 03, 2011 09:55 AM

Thanks for stopping by everyone and for anyone that can't purchase a home that gets stuck with these high rental leases all I can say is it's wrong!

Oct 03, 2011 09:58 AM

Ellen Caruso

Daniel Gale Sotheby's International Realty - Glen Head, NY

Vb, definately not the situation in my case....My renters take advantage of me often falling 2 months behind and thats with no rent increases in years!

If they keep this up, I'll be needing to sell our home!

Oct 03, 2011 10:39 AM

Linda K. Mayer

License # 01767321 - La Verne, CA

Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST

VB, if you lived in an apt, they raise your rent every year, so personally I think this is normal business practice. The one that gets me is the owner leasing out the home when it is in foreclosure. The owner knows the cops are going to show up, but they take the deposit money and the rent money anyway and the tenants are the one to pay the price.

Hello Ellen and this is very interesting and sad!

And Linda ... that was happening all over Vegas also. I can understand the rent going up in apartments, and some homes. But 200 dollars in one year and when times for so many people is very difficult, you would never see Vegas Bob doing this!

Oct 03, 2011 10:52 AM

Home Owners "Ripping-Off" Renters ... "Shame on You" ... ;o(

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