Quote:
Originally Posted by Skillet83
I cannot believe what I just read. Dude, I sincerely feel for you, just unbelievable. Coming from a guy that owns a bunch of rentals in fly over country. I have not had one renter problem through this whole chit show. I did have one gal come in from Washing State mentioning the moratorium. I had a brief conversation with her, never heard from her again.
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Well, that's rent control for ya. Slowly, it had gotten tighter and tighter over the past 5-8 years. We voted it down but our governor decided overturn it and made the whole state rent control. That's anything with 2 units or more. this includes a back house, or if you rent your garage illegally, that's subjected to rent control. Relocation fee is up to about 15,000 per person. If there's a senior or special needs kids on the house, we are in a world of hurt. I think its something like 25k per special needs person.
I am thinking of selling them and go somewhere else but where? Management is the problem. People pay well here, if the rental is in the right place. Its our retirement and kid's college education.