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Twerk from Home
Jan 17, 2009

This avatar brought to you by the 'save our dead gay forums' foundation.
I see renting for 2% of its value thrown around all over the place as a rule of thumb, is it a sign that one should rent if rents are under 1% of property value in a neighborhood? There's an upper middle class neighborhood near me where there are only a couple of rental houses, but they are being rented for $2400/mo in an area where homes are $380k+. Is this insane landlords losing money?

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Twerk from Home
Jan 17, 2009

This avatar brought to you by the 'save our dead gay forums' foundation.

Zero VGS posted:

I just had a tenant casually mention to me that he's getting a cat. I instantly objected, I loving hate cats, but he said he already signed the paperwork. He feels bad for not checking with me first.

My one big concern is cat urine. I asked my insurance today and they say they won't cover any pet damage. This is a young female cat so it'll probably won't make any mistakes for a few years, but I also know firsthand that a sick or old/senile cat will pee wherever it wants, and left unattended will eat through my hardwood floors.

I'm not sure what to do here, the only thing I can think of that seems reasonable is a sort of running security deposit. Like, I'll charge him an extra $100 a month (my rent is already charitably low) and if the place is fine in a few years then he gets a fat stack back. I figure that'd scale with the damage-over-time that a pisscat can rack up.

A large deposit seems like the right answer, I'd let them build up a ~$1000 deposit over a long period of time and then make it clear to him that any cat-caused repairs you have to make after that will come from the deposit.

Your plan seems way more fair than large companies that do ~$50/mo pet rent on top of a huge pet deposit.

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