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Originally Posted by look 171
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.
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I have 10 rentals homes, 3 bed, 2 bath, 1500 sf in great communities. Community pool, walking trails, large fishing ponds, great school district. Homes are getting $1700.00-$1800 per month. Homes are going for $200-$215k now. They were in the 180's a few years back. Property tax is about $2200.00 per home, HOA is $450.00 annually. They rent same day, can be choosey. No politics here. Property owners still have rights here.