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I heard from another landlord, this time in Chula Vista, about the discussion we’ve had this week on rents.
Here’s what reader SD added:
Just wanted to share my opinion as a landlord of a single family 2 bedroom house, as well as a larger duplex in Southwest Chula Vista based on what I notice as I screen potential renters for these properties.
Each time a renter turns over about every 2 years I have raised the rent about 100 dollars but the rent I charge would be still be considered slightly below market value for these properties. I have done this because it gives me a larger pool of applicants and allows me to select a tenant that will maintain and respect not only the house but the neighborhood.
On the other hand the fact that these are houses (As opposed to apartments) mean that I could probably get several hundred more for each property if I didn’t mind renting out to multi-family renters, people using the garage as living space and parking excess cars on the lawn. (Becoming more and more a common practice in this area). The code enforcement in this area is pretty weak and more and more homeowners/landlords are converting garages, and doing boot-leg room additions to get multi-family, multi-generation renters who have few options but to team-up and pay a higher rent.
Any others of you have this perspective? Are you a landlord who’s been asked to rent to more than one family? Click my name below to send me your thoughts.