Quote:
Originally Posted by corporatejay
And a lot of people without skin in the game telling people how to manage their investment portfolio.
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Thinking of this issue simply as an investment portfolio is what causes a lot of the instances of bad renters thrashing a property. Landlords who look at a good renter as a commodity worth a monetary figure end up with a less risky investment. You can put a monetary figure on the stress and time that a landlord has to put into repairing and maintaining the property due to an uncaring renter as well.
Renters also look at the cost of housing as an investment, and if a landlord raises the cost above what a renter feels is worth them putting their own time and money into a property, the property becomes neglected.
Looking at this simply as a 'bottom line' investment can cause more issues, that will cost more money, over the long run. The human element should be taken into consideration, and value should be assigned to the quality of upkeep by the renter and the time and repair that falls to the landlord.
If, for example, the value of a good tenant in this situation can be put at $200 (a made up number, involving no damage to repair, caring for lawn, calling immediately when there's a problem ect.) and the landlord raises the rent $400 to match the price of a 'bad' renter down the road (whose monetary value can be put at $0), I can see how that would be seen as gouging by some people. I would see it as stupidity, and there's a lot of stupid in the city right now.
Time is worth money. Care is worth money.