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All About Renting!


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2006 Apr 27, 3:53am   20,901 views  196 comments

by HARM   ➕follow (0)   💰tip   ignore  

Jealous bitter renters!

Folks, over the last few months we've had the "Jealous Bitter Renters" Thread (written from the P.O.V. of a rabid housing bull) and often had discussions about renting mostly in terms of how it relates to the RE market and bubble. We've had debates about renting as an alternative to buying at inflated prices, using it to as a metric to determine "fair market" housing value, Price:Rent ratios, why renters are so stupid, jealous and bitter compared to perma-bulls, etc., but so far --nothing about the finer points of the experience of renting itself.

So, this is your opportunity to share your renting insights and experiences with your fellow Patrick.net bloggers! About half of us here are homeowners, but you probably have rented at some point, and in any case should have an opinion. Tell us:

  • What qualities do YOU look for in a rental? Do you prefer high-rise apartment/condo living, townhomes, or detached SFRs? Urban/suburban/exurban/artist ghetto?
  • What things would you be willing to pay a premium for? Proximity to work/public transportation, being close to downtown, lots of open green space, square footage/storage/garage, modern amenities, Pergraniteel, pet friendliness, other?
  • HOW do you primarily shop around for rentals? Craigslist/internet listings, rental property management companies, newspapers/recycler, personal networking, other? Do you prefer renting from a private owner/landlord or from property management company? Why? Do you have any negotiating/bargaining tips to share with us?
  • Do you have any especially interesting, nice or ghastly stories to share from your renting past?
  • Discuss, enjoy...
    HARM

    #housing

    « First        Comments 174 - 196 of 196        Search these comments

    174   OO   2006 Apr 27, 3:48pm  

    Peter,

    I don't think poor students care about access to lobsters, the Legal Seafood lobsters still cost about $20, which was no chump change for us. Also, locationwise Kendall Square is not the best place on earth, and Harvard Square is kind of run down too.

    You know in Boston, the Red line was the only line on the T that doesn't smell like urine because allegedly Harvard and MIT paid tons of money to make sure that the Red line looks decent enough to visiting parents who paid through their noses for their kids' tuition.

    175   Peter P   2006 Apr 27, 3:51pm  

    Well, I do think that Stanford has very good Feng Shui. You can feel the Chi just by walking around.

    176   Peter P   2006 Apr 27, 3:54pm  

    I don’t think poor students care about access to lobsters, the Legal Seafood lobsters still cost about $20, which was no chump change for us.

    But Legal has very good Chowdah...

    177   OO   2006 Apr 27, 3:56pm  

    All Peter P can think of is 1) food, 2) bathroom, which in itself is very logical, where else would you go after good food? :-)

    178   Peter P   2006 Apr 27, 3:58pm  

    where else would you go after good food?

    Or better yet, where else would you go after BAD food?

    179   astrid   2006 Apr 27, 3:59pm  

    Peter P,

    Yes, CIA = Culinary Inst't of America

    You should have gone to Claremont McKenna College and worked for the Athenaeum, they had a genius pastry chef there who was assisted by fairly hot girls.

    180   OO   2006 Apr 27, 6:15pm  

    skibum,

    no, those H-bombs were dropped left and right in Boston too, and I totally concur with your on observation of some of the H people, entirely self-absorbed just because of their association with the school.

    My wife, then girlfriend, and I used to go bar hopping when we went to school in Boston, once a guy from HBS, a school that the undergrad referred to as "on the other side of the Charles River", tried to drop a H-bomb on my wife. After he elaborated how difficult it was to get into HBS, he asked my wife where she went to school. So my wife said, Radcliffe. The poor soul didn't even know what the heck it was, thinking it must be an equivalent of Mount Holyoke or something. So my wife told him, learn about your school before you go around and drop the freaking bomb.

    181   DinOR   2006 Apr 27, 11:46pm  

    *THE NEW GOLD STANDARD*

    DL while in Miami, addressed Florida's issues with some suprising candor. I found his comments like "it's gonna hurt" refreshing. Then he followed up with his usual spin/cheerleading. He described RE as "the new gold standard". I'm not kidding, time permitting please read the link posted here. If this is the new "gold standard" I'd rather move down the chart to lead thank you.

    What's more startling is that all along we've been told that a "crash" in RE is not only unlikely it's virtually impossible b/c houses don't trade like stocks. O.K, then why are we getting this much candor (admitting the obvious) so soon? DL made several stock market analogies so he's the one that brought it up. While he acknowledges a painful correction he's quick to add that it won't be on the same scale as say the NASDAQ. Well gee David, judging by the acceleration (and tone) of your comments this thing is unravelling MORE quickly than the stock market! Remember, after the high in March 2000 we didn't get comments like this until well into the FOLLOWING year 2001 which was when the "margin selling" occured and accelerated. He also puts a date on "the recovery" which will take place in 2007. I guess that'll be when the "new gold standard" takes effect.

    182   DinOR   2006 Apr 27, 11:56pm  

    If you get a chance please read Mike Morgan's comments on Mish's web site. Mike exhibits gentlemenly restrain but you could tell DL's delivery was really trying his patience. Let's see 60,000 condos in Miami at an annual absorption rate of 2,500 per year will take how long to clean up the inventory?

    183   edvard   2006 Apr 27, 11:58pm  

    I thought I'd step in a for a second and mention something rather humerous. I got home yesterday, and sitting on the table is a piece if junk mail from one of the local RE agencies. One of the agents had sent us a card that said:" I just sold a home in your neigborhood, and now I need more inventory. If you know anyone else in your neighborhood that wants to sell, please contact me."
    This is the oddest piece if junk mail I've gotten in a while. I thought about writing him back and telling him that inventory doesn't seem to be that big of a deal in our neighborhood, and his company aught to try and sell what they have now since there is a LOT of it. Maybe he could get some more inventory in Sacremento?

    184   edvard   2006 Apr 27, 11:58pm  

    I thought I'd step in a for a second and mention something rather humerous. I got home yesterday, and sitting on the table is a piece if junk mail from one of the local RE agencies. One of the agents had sent us a card that said:" I just sold a home in your neigborhood, and now I need more inventory. If you know anyone else in your neighborhood that wants to sell, please contact me."
    This is the oddest piece if junk mail I've gotten in a while. I thought about writing him back and telling him that inventory doesn't seem to be that big of a deal in our neighborhood, and his company aught to try and sell what they have now since there is a LOT of it. Maybe he could get some more inventory in Sacremento?

    185   edvard   2006 Apr 27, 11:59pm  

    weird. double post. sorry.

    186   DinOR   2006 Apr 28, 12:02am  

    skibum,

    One day soon I'll have one of my daughters show me how to do exactly that! I wanted something like that for posterity as well. As I assembled it in a fast and loose fashion I began to realize that were getting the "lip service" from DL in rapid fire succession and much more quickly than we did from stock analysts as the equity markets imploded! Generousity from the Fed will not help Mr. Lerah with his "inventory" problem. I thought that this was a pretty telling moment.

    187   FormerAptBroker   2006 Apr 28, 12:42am  

    skibum Says:

    "The other funny thing about Harvard students is precisely the notion of “dropping the H-bomb.” IE, there’s a certain subset of students there who base a large part of their self-image/self-worth on being associated with Harvard, so they derive some kind of perverse glee from mentioning having gone to school there in casual conversation."

    I know a lot of single 30 something HBS woman and when they talk about the "H-bomb" they usually talking about getting dumped by a guy after he asked where they went to school and they had to "drop the H-bomb"...

    I don't understand why so many woman (and some men) need to blame something when a guy (or girl) does not want to date them. It is very hard for a lot of people to accept that the other person just didn't want to date you…

    I never have the guts to say it but I want to tell the tell these single HBS girls that blame the Hbomb for being single to look around and see that the few good looking HBS girls are in relationships and even most of the average looking girls don't have a problem getting a date (the problem is looks and weight, not where you went to grad school)...

    188   astrid   2006 Apr 28, 1:01am  

    I'm so sorry I started this MIT/Harvard/Stanford Jr. bashing.

    Anyone up for a new thread? valuation of commodities? what's gold worth? etc. anyone? anyone?

    189   astrid   2006 Apr 28, 1:06am  

    FAB,

    "(the problem is looks and weight, not where you went to grad school)…"

    Waaaaaaait, does anybody look into personality and sanity? Maybe I'm just deluded, but my momma always taught me that looks come and go, but other qualities will stay.

    190   Different Sean   2006 Apr 28, 1:50am  

    I console myself with nothing more than the thought that my next home will be purchased for a fraction of today’s prices.

    hmm, 9/10 is a fraction :(

    Anyone up for a new thread? valuation of commodities? what’s gold worth? etc. anyone? anyone?

    how about real estate ethics? bit like the 'ginger' thread, heh. or maybe i was just looking for an excuse to paste in this email belatedly (bye bye, ginger, we hardly knew you :P ):

    Dear Subscriber

    Insider trading is rampant in real estate. Many agents get away with conduct that would see stock brokers jailed.

    I believe agents should be banned from buying properties from their clients. For this reason, I have always admired the ethos of the Raine & Horne network whose agents are forbidden from trading through their own agencies. Not so with most of the other big name chains.

    Here are two recent cases worthy of attention. And perhaps your vocal (or written) assistance.

    RETRACT AND APOLOGISE – OR ELSE!

    This is one of the worst (and saddest) cases I have ever encountered. An agent bought the home of a mentally ill man. He is now pleading to be allowed to keep his home. But, because he dared to complain, he has been told to get out by next Friday, May 5. Despite the agent’s pathetic excuses, this is a shameful case of exploitation by a member of the world’s largest real estate chain (Century 21).

    THE BUSHRANGER OF BAFFLE CREEK

    A property owner made a gross profit of $20,000 in 17 years. The agent who bought his property made a gross profit of $32,000 in about 17 days. Let this case be a grim warning to all sellers to always get an independent valuer – or, at the very least, get three or four agents to give an opinion.

    GEORGE MIHOS - TNTI
    For a long time, we have been warning investors to steer well clear of this spruiker. Tonight, on Channel Nine at 6.30 pm, there may be a short story about a man who has long been fleecing investors. If you don’t get a chance to see it, you can read one of our earlier warnings below…

    http://www.jenman.com.au/

    191   Different Sean   2006 Apr 28, 1:56am  

    hey, they've got US flags up in the window back in the 1920s or whenever it was, even tho they're living in abject poverty - from a demotic historiographic point of view, has that been common for a long time?

    192   Different Sean   2006 Apr 28, 2:05am  

    I once was charged $150 for “unauthorized window covering removal”. It was a $2 blind I bought for the bathroom window.

    kinda makes you proud to be living in the land of the free... i'm getting all teary... :cry:

    193   FormerAptBroker   2006 Apr 28, 3:11am  

    astrid Says:

    "Waaaaaaait, does anybody look into personality and sanity? Maybe I’m just deluded, but my momma always taught me that looks come and go, but other qualities will stay."

    We are all looking for someone that is sane with a great personality...

    Every guy hopes to find a thin good looking wife who is also sane and has a great personality...

    It is only the guys that have given up hope on finding someone that is good looking "and" has a great personality that ask out the chubby average looking gals...

    194   astrid   2006 Apr 28, 5:52am  

    FAB,

    :) Well, as long as they look for sanity and personality first.

    I think highly educated women, especially before they hit 35 or 40, tend to be overly demanding in their choice of mates. Because they did everything else very well in their lives, they think they'll have the same freedom in their choice of spouses. The reality is that by their mid 30s, a good chunk of the potential spouses are already married and the rest have their pick of clever attractive women ages 20 to 35.

    Oh well, the world's cats needs homes...

    195   Different Sean   2006 Apr 28, 5:26pm  

    I do not want to take people to court. Karma will get them just as quickly. Really.

    astrid Says:
    Peter P,

    With karma, you may have to wait several lifetimes, and payback will come in totally unrecognized forms…trust me, small claims court is much more satisfying.

    a half-brick through their car window at night is also satisfying, and instant karma. especially since the cost of repair is less than their insurance deductible.

    then, a month later, after they've had it repaired, you can do it again :)

    *** Disclaimer: not behavioural advice. This is an exceptional result, your results may vary. No resemblance to actual living persons is intended or implied. ***

    196   astrid   2006 Apr 29, 3:56am  

    DS,

    I'm not a believer in creative destruction, at least on a personal level.

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