Why the hell would you spend $12k to update a rental property that you don't own? This is more like /c/midllydumbass
this post was submitted on 03 Sep 2023
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Mildly Infuriating
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I get it to some degree. It's hard renting for decades and not being able to improve where you live. If the person here thought they had a decent landlord and they'd still live there a decade from now, I think it can make sense.
Turns out, she's "never there" so, I'm assuming it's a second home. Like she goes to the area frequently enough that she doesn't want to deal with hotels. Makes this even dumber
https://twitter.com/eade_bengard/status/1696982908022739091?s=20
She seems insufferable after scrolling through her feed.
Nah she dumb
My landlord served notice on me after 13 years, I'm moving home next month. He is a greedy little cunt, constantly tried to pressure me to refurbish his property for him despite me being the tenant. Last time I asked for a minor repair, he immediately notified the letting agent that he would be putting my rent up this coming October. Regardless, I agreed the new price, only to still be served notice on (I assume because he knows he can get a slightly higher rent by getting a brand new tenant in, rather than an increase).
Genuinely though I was tempted to do some redecorating. This is (for now) my home. It sucks living in a rundown home; the wallpaper / carpets in this house afaik are at least 25 years old. But when you get 'too demanding' then you suddenly find yourself out of a home.
That's capitalism. If you invest money you want a return. It's the entire system. Maintaining anything if not required goes against the whole ethos.
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A landlord was being shitty to someone and it was clear he wouldn't get his deposit back no matter what, so when the renter moved, he took everything. Meaning he unscrewed the plugs from the wall and took those with him, took the toilet seat and so on. Play stupid games, win stupid prices I guess.
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One of my neighbors lived in a large 1 bedroom apartment. It was in the family since the 60s. It’s rent stabilized and in a popular area. A decade ago she was paying $850, market value at the time was $2k+. She renovated her kitchen when I lived there…. The downside was that her new upstairs neighbor was a musician and had a full sized piano that he’d practice on daily for hours at a time…
If you know you can't be evicted unless you stop paying rent and the rent is cheap enough, it's not a bad idea to renovate it a bit. I told my friend he should quietly renovate his rental apartment because he hated the kitchen and all the flooring. He was paying $2k under market price, had rent control, and because it's a corporate landlord, they can't evict him unless he misses rent a lot or harasses other tenants.
My friend opted to buy a condo instead, so while his mortgage is more than his rent was, at least he's earning equity and a rising housing market.
yeah, you have to do the math to calculate the total expenses since maintenance fees can be very expensive in condos, much higher than paying for a rent control or stabilized apt.
How does one end up in an apartment with rent stabilization? I've wondered this.
It's very uncommon to find available rent controlled apartments. Some of the leases allow you to pass the apartment and its current pricing to a child, so there's a lot of them where the same family has lived there for 20+ years and just passed the lease down the family.
In my area, there's some newer rent controlled ones, but they're only available to low-income families (which makes sense to me). There's also California-wide rent control for most properties which mandates a maximum increase of CPI + 5% per year, capped at 10%. It's not really rent control though, since the rent still rises higher than inflation (eg if inflation is 3%, the rent can still go up as much as 8%).
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What idiot pays for upgrades to a house they're just renting, Jesus wept.
Seriously. The most I'd EVER do is free basic repairs and that's only because my last landlord was my good friend, meaning I was getting a killer deal.
I did basic repairs at my old place. The rent was well below market and I'd rather do it than have to deal with the landlord's odd schedule.
She could have used that $12k as part of a down payment on her own place.. what on earth is she thinking.
Might've been financed on credit - but even still, it takes a lot more than $12k for a down payment.
Assuming the median price for a home is $500k, you'd need $100k for a traditional 20% down payment. Sure, $12k is 12% of the way there... but it's nowhere near what is needed for an actual down payment.
You only need 1-5% down as a first time home buyer.
There are also closing costs and other fees. I bought a house in 2020 using the native American home loan program.
I had to put down two and a quarter percent as a minimum and on a $500,000 house that should have been $11,250, but the total to close was actually a touch over 20 grand.
It took me several years to save up that money and it disappeared in a flash.
FHA loans need 3.5% last I checked. So her $12k wasn’t far off for a $500k dollar place. Yes they also require PMI for a bit, but better putting money into something that causes gains for yourself than for a landlord. As this article so clearly proves.
It's not far off but in the current market someone will just offer more than you and you won't get it anyway.
Or they offer all cash.
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You also need 2-6% for closing costs. People always ignore that.....
Nah you can put lower you just need mortgage insurance so you’re paying a bit extra on mortgage due to not having to save up for 5 years to afford it (which would mean the price probably rising by enough in those 5 years that you’ll need to save up for another year and now you’re 6 years behind on a payment lol.) if you’re saving up while renting you’re probably paying close to mortgage for rent (or more if you’re in certain areas) plus putting more aside to save for that down payment so you should be able to afford the slightly higher mortgage until you get to that 20%.
I doubt your pulled out of ass price for a house. And you don't need a 20% down payment. The highest down payment minimum is like 10% and most people don't need that much. All depends on the type of loan though.
The reason why people go for the 20% Mark is because once you clear 20% then you don't have PMI, or private mortgage insurance. That typically runs three quarters of a percent of the purchase price of the house until you have 22% of the house paid off, and you have to pay that on top of your mortgage, the interest, and the taxes and insurance.
For every $100,000 you finance that means that if you pay less than 20% down you will have to pay an extra $750 a year just as a "couldn't afford 20% down" fee.
And typically to get the first quarter of your mortgage paid off takes 10 years, so for many people that will be $7,500 per $100,000 they borrow to buy a house as the poverty cherry fee on top of everything else.
I'm aware, having bought my house about 2 years ago. It doesn't change any of what I said. 20% is nice for that reason but it is not a requirement and most people don't put 20% down because they don't have the money to do so.
Hell, I intentionally didn't put 20% down because my interest rate was under 3%. Was better off taking the extra money and sticking it in investments.
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People are dumb.
Think about how stupid the average person is and realize half of them are stupider than that.
- George Carlin
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verbal consent
That’s a big mistake. He got $12k for free and will find people who will pay a higher rent.
Right! That's a good chunk of a down payment on a house of their own!
No remorse.
Not because she spent $12k for the upgrade.
But because she also paid for Twitter, or X or whatever dumb name it's called.
Wait, you have to pay for Twitter now?
The blue check is $8/month
8 buck shmuck
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Never, ever, ever do anything like this after verbal consent, especially if it involves this much money. Unless it's on paper, doing this makes you unbelievably fucking stupid
That's more facepalm, right?
Reminds me of this time in high school when we went bowling. Friend of mine spent $5 to shine the rented ball before he returned it.
Horrible. Now that the property is more valuable due to the upgrades the landlord knows they can charges a higher rent for it. The real mildly infuriating part is the fact that we as a society reward this behaviour. Sociopathic behaviour is actively encouraged under capitalism.
Not even close to a sane take. If you look at the text exchange is clear it was done without the owner knowing. As an owner the renter could have cut all sorts of corners... you'd have to tear it all up just to even make sure its water sealed properly just so that your house doesn't rot the through because some rando renter made choices about your property. If your going to drop 12k on a reno of a bathroom... drop it on a down payment instead.
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I find it mildly bewildering that someone would spend $12k updating a home they don't own.
For real. It is really crazy.
As fucked as that is, what fucking eviction notice gives 3 days to vacate? That can't be legal, can it?
Edit: Looking closer, I see that this is in Texas. And evidently 3 days is all they have to give there. Insane.
https://guides.sll.texas.gov/landlord-tenant-law/eviction-process
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Dude just cross post the source link, don't link to another post. That fucks up users from other instances by pulling them into a web browser for another instance. Lemmy will provide cross post links to other threads.
She's an idiot. I understand the outrage, but she's an idiot.
My parents made this mistake twice. They were unable to afford their own place and asked the landlord if they were interested in moving back in.
Both times the landlords said no, so my parents made small improvements to the places (replacing carpets, repainting, general upkeep/improvements), but never 12k worth.
Still, both times the landlords kicked us to the curb (so they could move back in) and we had to move. The 3rd time they were finally able to afford their own place.
Ducking dumbass
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