High apartment rents in the Reno-Sparks
Don’t look for the rents to reduce anytime soon.
According to a report from Johnson, Perkins, and Griffin, second quarter data in 2015 indicates average rent for an apartment in the Reno-Sparks metro area is at an all time high — $920 per month.
Did you ever think you could try before you buy that new home?
When shopping of a new car we can take a demo ride, usually with a salesman riding along. Sometimes you can get a loaner vehicle. We can try a new car by renting.
But how can you try out that new home. Again, renting might be an option but that is usually a much longer term.
Realtor.com and airbnb.com joined forces so folks shopping for a home could try out and experience the neighborhood before they buy.
Airbnb lets you stay in a home in the area you’re investigating on realtor.com, so you can live like a local and really get to know the neighborhood.
Do you think this is something that might work? Airbnb does have listing in the Reno/Tahoe area.
You have surely heard stories of the tenant form Hell. This story from Oklahoma might be one of the tops.
The owner evicted the tenants after he became suspicious of illegal activity. Apparently, the tenants then became vindictive and did approximately $40,000 intentional damage, including stealing the copper wiring.
The tenants were arrested.
See more here.
Here is a novel eviction technique, but I don’t suggest you try it. Paul Finman in northern Idaho had been trying to get the occupants of his house (I understand that they were not paying rent so that makes them occupants and not tenants) for 18 months.
The occupants were a family of “sovereign citizens”, folks that don’t recognize the legitimacy of the government. They must also have not recognized the legitimacy of the landlord either.
Apparently, he decided to solve his problem on his own. Using a farm tractor with an end loader he began dis-assembling the house. Three of the occupants, the wife and two children, were inside and fled. The husband was not present at the time. Of course, this action got the sheriff involved and they arrested Finman, charging him with three counts of assault.
Finman eventually pled guilty to disturbing the peace and received a sentence of 180 days, which was suspended after two days. He was also fined $400 and costs.
It would appear that it cost him a lot less here than a regular eviction.
Who wants to try it here?
Read more on eviction.
You’ve been through a foreclosure. So, can you rent another home? Well, it may not be quite so dire as yo have been led to believe.
Because of the massive number of foreclosures, landlords are factoring that into their formulas. Any landlord that refuses to rent to someone that went through foreclosure is merely reducing his available market, and consequently cutting is own throat.
Yes, landlords will rent to people that been through foreclosures.
But, that doesn’t mean that they will rent to otherwise general deadbeats or nuisances.
You still need to demonstrate that you will take care of the landlord’s property and not be a pain-in the-butt.
Read more.
Landlords, do you have any stories about tenants from Hell?
One story I want to relate: a friend experienced this one, not me.
The apartment was a beach front condo in San Diego. The owner had placed the unit with an agency for short term rentals for the summer. The unit was fully furnished, including kitchen utensils.
The occupant (I would call him a tenant but, tenants usually pay rent) moved in paying with a check. The management company accepted a personal check and what do you know, the check bounced. Can you guess who was on the hook for the bad check? Hint, it wasn’t the management company.
So, now, where short term rentals on the beach could possibly pay for the unit for the entire year, we actually find a long drawn out legal battle to get the interloper out of the unit. And instead of receiving rent the owner received substantial legal bills for the eviction.
And furthermore, when the perpetrator finally moved out of the unit, he took with a lot of the personal property.
Since this happened a long time ago, my recollection of all the details have become a bit sketchy.
I realize that Nevada landlord/tenant law differs greatly from that in California, and that this story probably would not happen here, at least to the same degree.
But, one lesson that I learned from this story was to always insist on cash, or cash equivalent before allowing a tenant to move into a property