David Chartier

Naive question about being a #landlord: What is there to stop you from buying a few places, renting them out, but keeping prices “below market?”

Like, don’t raise prices with the rest of the jackasses. Keep them at livable prices so people don’t get priced out of everything. Yeah maybe they have to go up a little for costs, but it doesn’t have to be greedy.

Is that like, illegal? Is it technically feasible? I am ultra new here.

Sep 27, 2022 at 9:38pmWeb
Show threadAurynn ShawSep 27, 2022
@chartier I mean, sure? They're your properties, you can rent them out for as much or as little as you like.
Show threadDavid ChartierSep 28, 2022
@aurynn I'm actually thinking about it. No idea if I could financially swing it, but I've had the idea in the back of my head for a bit of trying to become a... innkeeper but keep the price of my property(ies) reasonable instead of greedy.
Show threadAurynn ShawSep 28, 2022
@chartier Whether or not it's feasible is dependent on your financial situation wrt the properties. But yes it's totally legal to charge whatever you like. 🙂
Show threadJeff LindborgNov 5, 2022
@chartier My wife and I manage a several properties in Tucson – when we took over managing them we came to the conclusion that keeping rents down and retaining tenants for longer made more sense than raising rents and dealing with turn over every year. Property management companies in this town almost universally raise rents automatically every year and do a crap job of maintaining their buildings. When we do get an opening it never takes more than 1 or 2 days to fill it - way less stress.
Show threadDavid ChartierNov 8, 2022
@jlindborg Doing the good work.
Show threadGhryphenNov 11, 2022
@chartier I own a duplex, live in one side and rent the other. We have not raised our tenants rates even though rents have skyrocketed around here. Yes, we are missing out on $6,000-$8,000+ in rent a year, but keeping the tenants we know that have been taking care of the property and are easy to get along with is better than cycling through unknown tenants and also having empty periods and cleaning/repair bills between tenants every year.