521–530 of 593 posts
Earlier quoted context omitted.
Such a system is not possible.
Things can always get worse. Consider what would happen if brokers disappear and your application is rejected by an AI from a company that most landlords use.
Earlier quoted context omitted.
It's a two-sided market, it's gonna be winner-takes-all.
You mean the way Lyft went out of business because Uber took it all, and then Uber raised their prices 5x?
Still, Uber is not sticky. Drivers aren't forced to use it exclusively (fun things would happen if they tried to pull it off, something something employees). Brokerage websites most likely will demand you don't post your apartment on multiple sites. This will encourage concentration.
Earlier quoted context omitted.
"Especially now with the internet," can you show me a service that doesn't extract its own fee when connecting buyers and sellers?
The agent isn't the one doing the connecting, that's my point. Most landlords I know "write" their own listings using a standard template and reusing old photos. Circulating this is trivial, especially in a hot housing market. A few of the landlords I know are older and will pass the info to an agent to paste into popular sites. But I'd hardly call that "connecting" and certainly not worth thousands of dollars. Addit…
Earlier quoted context omitted.
All states should operate like Oregon that stipulates the maximum lease break fee of 1.5 months. I think that's totally fair considering it's been a landlords market for the past 20 years. There's no reason in any state to keep someone on the hook for potentially 12 months when that landlord can just tell someone "hey we're still advertising it but we haven't found anyone yet". By the way, if any of you find yourself…
As with most things: it’s complicated. When you sign a lease agreement, you get a guarantee that your rent will not go up during the term of that agreement. So, if you sign a lease for $1000 a month on Monday, and on Tuesday the market rent for that area spikes to $10,000 a month, you’re locked in with a lower rate. If I were a landlord in Oregon, given the above law, I would just only rent month to month. Breaking a…
We used this pre-COVID to get out of a Brooklyn lease and had a fantastic experience (back when it was Flip Instant). Flip basically charged 1 month rent and guaranteed a fill or they'd pay the rest (6 months) of my lease. Compared to our landlord who wanted 1.75x rent, up to 2.75x rent if not filled immediately, after significant negotiation. Hiring a broker myself would have likely cost 1x rent or more anyways with…
All states should operate like Oregon that stipulates the maximum lease break fee of 1.5 months. I think that's totally fair considering it's been a landlords market for the past 20 years. There's no reason in any state to keep someone on the hook for potentially 12 months when that landlord can just tell someone "hey we're still advertising it but we haven't found anyone yet". By the way, if any of you find yourself…
Earlier quoted context omitted.
"Especially now with the internet," can you show me a service that doesn't extract its own fee when connecting buyers and sellers?
The agent isn't the one doing the connecting, that's my point. Most landlords I know "write" their own listings using a standard template and reusing old photos. Circulating this is trivial, especially in a hot housing market. A few of the landlords I know are older and will pass the info to an agent to paste into popular sites. But I'd hardly call that "connecting" and certainly not worth thousands of dollars. Addit…
So, like Airbnb? Last I checked, that platform -- without a person -- also charges renters about 15% or more. And you don't even get to actually visit the place before you commit to paying the fee!
Earlier quoted context omitted.
As with most things: it’s complicated. When you sign a lease agreement, you get a guarantee that your rent will not go up during the term of that agreement. So, if you sign a lease for $1000 a month on Monday, and on Tuesday the market rent for that area spikes to $10,000 a month, you’re locked in with a lower rate. If I were a landlord in Oregon, given the above law, I would just only rent month to month. Breaking a…
Except 99% of people wont accept month to month due to the instability.
But there’s no way you’re going to add risk into the market without that having some effect on pricing.
Earlier quoted context omitted.
As with most things: it’s complicated. When you sign a lease agreement, you get a guarantee that your rent will not go up during the term of that agreement. So, if you sign a lease for $1000 a month on Monday, and on Tuesday the market rent for that area spikes to $10,000 a month, you’re locked in with a lower rate. If I were a landlord in Oregon, given the above law, I would just only rent month to month. Breaking a…
where does rent spike to $10,000 a month?
Earlier quoted context omitted.
I was asked for 12 months' worth of statements for a place I wanted to rent in Islington. I got them printed out at the bank, and then spent an entire day with a Sharpie and a ruler and redacted every payee and amount in each of those statements. The approved my rental contract without a peep. A potential employer once also wanted statements - I think 6 months' worth, and I did the same. HR pushed back but legal back…
What information did you effectively leave that they theoretically wanted to see? Simply activity on the account, or did you leave incoming pay unredacted?
Earlier quoted context omitted.
Except 99% of people wont accept month to month due to the instability.
Another option is for landlords to price the additional risk into the rent itself. But there’s no way you’re going to add risk into the market without that having some effect on pricing.