@Spring2023 wrote:
Well, on a personal level, I need the rent on my cute Studio Apartment to stay the same. EVERY April we get slapped with INCREASES for a property built in the 70's and NOT being updated or maintained.
Nicole ๐
Landlord cost also increase - property taxes, insurance cost - these are a couple of the biggest ones as examples.
Rentals are also effected by the marketplace - supply and demand.
I have a friend with family who has always rented (homes) - they got tired of increases too. She found a management company that were selling homes on a Contract For A Deed manner.
Bankrate.com - What is A Contract For Deed?
There are pros and cons, advantages and disadvantages to this type of selling but for the [renter to become owner], it does keep the amount of money paid monthly on a very even basis during the process.
Their contract for the deed was for 15 years and will soon be paid off.
As long as the [renter becoming an owner] is aware of how it works, and it is documented legally - and everybody is aware of how it works, it might solve the problem of escalating rent for some but on the other side of the coin, they are responsible for the maintenance and upkeep - not the holder of the Contract for a Deed.
It's Always Something . . . . Roseanna Roseannadanna