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The Rush for Rentals by Investors Turns Into a Run for the Exit


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2013 Nov 26, 11:00pm   4,862 views  13 comments

by Bubbabeefcake   ➕follow (1)   💰tip   ignore  

http://mandelman.ml-implode.com/2013/11/the-rush-for-rentals-by-investors-turns-into-a-run-for-the-exit/

The list of private-equity firms that over this past year have been rushing to get a stake in the supposedly red hot single-family home market include: Colony Capital LLC, Oaktree Capital Group LLC, KKR& Co., GTIS Partners and Waypoint Real Estate Group LLC, a real-estate investment firm in the single-family rental market that last year reported securing $245 million from CitigroupInc.,to expand its existing portfolio of over than 2,400 homes.

#housing

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1   HydroCabron   2013 Nov 27, 12:06am  

You mean that a huge corporation, with a bureaucracy of offsite desk jockeys supervising far-flung maintenance and support staff, can't make money at an enterprise in which independent landlords, living in the same city as their properties and contributing their own labor, barely break even?

I AM SHOCKED! SHOCKED, I TELL YOU!

2   bubblesitter   2013 Nov 27, 12:53am  

Just tell him. I am moving if you don't give me rent reduction.

3   EInvestor   2013 Nov 27, 1:26am  

Why some renters hate their landlords ? Landlords provide a neccessary service to people who can't/don't want to own their own place to live in just like all other commoditites like food, water, clothing etc. Landlords deserve to have a profit for their investment in money and time just like anyone else providing any service. Sure, there are some bad apples in landlords as there are in any service providers. IF YOU DON'T LIKE YOUR LANDLORD, JUST MOVE ! Of course, every landlord also has had atleast one renter from hell which more than offsets number of terrible landlords !

4   HydroCabron   2013 Nov 27, 1:32am  

Public-sector unions are destroying America!

Woof woof! Cluck cluck!

5   HydroCabron   2013 Nov 27, 2:01am  

@donjumpsuit: Your experiences are familiar to me as a renter.

6   New Renter   2013 Nov 27, 2:07am  

donjumpsuit says

I don't hate my landlord.

I agree. I have a great landlord (so far) who despite his day job does do his best to address the occasional problems which crop up in our place. For my part I also try to fix whatever comes up but it it gets to expensive parts or liability issues I give him a call. I've also made minor aesthetic improvements which came in handy when he had the property appraised for a refi.

EInvestor says

IF YOU DON'T LIKE YOUR LANDLORD, JUST MOVE !

Sometimes easier said than done. San Jose is one of if not THE tightest rental market in the county right now. On top of that we have kids and pets. That triple whammy could make your search for a non-sucky affordable rental go on for months.

donjumpsuit says

However, what wasn't known was my massive ant problem I continue to deal with, and the fact that I am directly under the Oakland airport approach path, in a house with minimal insulation.

For your ant problem try soaking some cotton balls in a mixture of borax and sugar:

http://www.mashupmom.com/yes-borax-got-rid-of-the-ants/

Dirt cheap and effective. You can also spread a bit of food grade diatomaceous earth around but leave a path to the baiit balls - you want them to bring the boraxed sugar back to the nest.

For rodents I have not tried this myself (I have cats) but I thought it intriguing:

Mix equal parts cement and flour. Place a pan of this powder out next to a pan of water. The rats eat the cement, then they drink the water, and by the next morning their bowels have turned to concrete. Sadistic, eh? I knew you'd love it.

http://www.straightdope.com/columns/read/20/whats-the-best-way-to-kill-cockroaches

7   exfatguy   2013 Nov 27, 3:31am  

I consider myself a good renter. I've only called about two things, one of which was a leaky roof. The other one was a leak under the sink that I asked if I could fix myself, an offer that they gleefully accepted.

8   Facebooksux   2013 Nov 27, 3:34am  

EInvestor says

Why some renters hate their landlords ? Landlords provide a neccessary service to people who can't/don't want to own their own place to live in just like all other commoditites like food, water, clothing etc. Landlords deserve to have a profit for their investment in money and time just like anyone else providing any service. Sure, there are some bad apples in landlords as there are in any service providers. IF YOU DON'T LIKE YOUR LANDLORD, JUST MOVE ! Of course, every landlord also has had atleast one renter from hell which more than offsets number of terrible landlords !

Fuck you.

9   Facebooksux   2013 Nov 28, 1:08am  

http://www.rental-living.com/promo/black_friday

An isolated headline, but does this strike anyone as a sign of rampant demand for overpriced rentals with room to appreciate by double digits year over year?

10   Bubbabeefcake   2013 Nov 28, 7:09am  

Facebooksux says

EInvestor says

Why some renters hate their landlords ? Landlords provide a neccessary service to people who can't/don't want to own their own place to live in just like all other commoditites like food, water, clothing etc. Landlords deserve to have a profit for their investment in money and time just like anyone else providing any service. Sure, there are some bad apples in landlords as there are in any service providers. IF YOU DON'T LIKE YOUR LANDLORD, JUST MOVE ! Of course, every landlord also has had atleast one renter from hell which more than offsets number of terrible landlords !

Fuck you.

http://www.youtube.com/embed/ke7zlV8wd-M

11   epitaph   2013 Nov 29, 7:16am  

EInvestor says

Why some renters hate their landlords?

The term landlord has such a negative sound to it, much like the term boss. How about we call landlords living space creators so they can claim righteousness trying to help out the little guy and get a bunch of tax breaks in the process? Did we as a country forget how to spin shit?

12   HydroCabron   2013 Nov 29, 8:34am  

APOCALYPSEFUCK is Comptroller says

epitaph says

The term landlord has such a negative sound to it

The more precise term is rentFUCK. Some clown fools a bank into lending him some money to buy a shanty to rent out to poorer people and fuck them savagely for everything they can get out of the asshole tenants and sell the piece of shit off to even stupider fuckwit investors who are supposed to believe that gay chindian billionaires and saudi princes are ready to buy out his bizarrely overpriced note for the shithole in Concord or Phoenix he or she laughingly calls a home.

This is nearly a general economic theory, with the actors and capital flows laid out precisely, but you neglect one important economic class: starving Neo-Nazi cannibals.

13   HEY YOU   2013 Dec 1, 9:26pm  

bubblesitter says

Just tell him. I am moving if you don't give me rent reduction.

I won't move,if you pay me to stay. Oh! You'll have to throw in the utilities.

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