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chrisga12

They’re showing your apartment to potential renters two months into your lease???


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nozamy

Owning is far far better than renting. You can’t deduct rent payments from your taxes, but you can deduct mortgage interest and other expenses from your taxes if you rent out just 1 room in your home. And ownership doesn’t come with asshole landlords. Banks want you to pay them and leave you alone as long as you pay. Renting really makes sense in only a few circumstances. If you can get 20% for a down payment. Do it and get a house.


Son_ofwalt

You don't have to rent out a room in your house for mortgage interest deduction, that is already allowed if you itemize with or with out renting a room. But most people don't have enough write offs even with the mortgage interest deduction to make it economically beneficial vs the standard deduction.


nozamy

Are you sure about that? I checked pretty thoroughly last year while doing my taxes. I think the 2017 Trump tax bill removed that deduction. I would love to be proven wrong. But I think you can’t deduct mortgage interest anymore. Any tax sleuths out there that have a reference?


Son_ofwalt

Trump definitely didn’t remove it, trump just doubled the standard deduction which made it much less likely for the average person to have enough write offs to make it economical beneficial to still itemize.


nozamy

Regardless of the semantics, I could only take the deduction if I rented out a room in my house. So I wouldn’t have had access to the deduction without the rental activity. Hence, my advice to rent out 1 room to get a big benefit from home ownership over renting.


Son_ofwalt

Then you are deducting business expenses from your rental income. And technically you should only be expensing a proportionate share of the mortgage interest relative to what you rent vs use personally. Everybody can take the mortgage interest deduction regardless of renting at the home. You just aren’t going to itemize unless you have write offs greater than the standard deduction.


Son_ofwalt

Any savvy landlord isn’t going to agree to require your permission to show a unit. Otherwise a tenant could continually refuse to give access and potentially prevent the landlord from leasing the space. Advanced rent is a liability to a landlord, it’s generally not a very good enticement. The life long renting vs owning economics are nowhere near equivalent expect in very few circumstances such as constant moving and need for capital today that will outperform real estate appreciation and equity buildup plus your increased housing costs over your life which is a tough proposition for even experienced investors.


EmpoleonNorton

My man it is fine to want to show the apartment but wanting to show it 10 months away from the lease ending is absurd. If everyone was showing apartments 10 months in advance that would mean you would basically have people in and out of the place pretty much the entire time you live there and that is dumb as shit.


Son_ofwalt

No, my man, a bunch of units fill up 10 months in advance because we don't have enough of them here. This tenant almost assuredly agreed to those terms when they signed their lease as well. There's nothing preventing this tenant from touring a different unit and signing a different lease for next year either right? Most units that are in high enough demand to be able to prelease this early will have next year committed very quickly, so the idea that your unit would be shown the entire year isn't based in reality. You either commit to staying or they commit to someone else willing to commit. And IF your unit gets toured all year with no takers, then you'd be a fool not to offer a lower rent for the next term. Don't like it, then join me in hammering local government for poor policy decisions and not approving enough units creating the imbalance of leverage in lease negotiations here.


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Son_ofwalt

Gosh you really showing how little you know about real estate finance. Let me help. There has never been more equity in the real estate market than today and the savvy investors have locked in fixed mortgages at all time low rates over the past 2 years. The impact on rate hikes is irrelevant to those with fixed long term debt, actually you could argue it’s helped lower prices and push out competition creating an even bigger advantage for cash buyers who can simply leverage when rates come back down. Please don’t worry about me though, you’ve got much more bigger issues at hand liking finding a single wide in the sticks.


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Son_ofwalt

No, I never said there is anything wrong with living in a trailer (which you admitted is your new preference), or that there is anything wrong with living in the sticks (and Madco is definitely the sticks). But you don't get to fake like a real estate or investing guru and then attempt to call out my financial advice from your trailer. BTW I really don't want to call you out, that's why I replied in one of our previous conversations, but you have proven beyond any reasonable doubt that you are full of shit with your posting. I don't need advice from a guy that fakes his real life on reddit. There's way more to life than faking it on the internet and your need to fake it says a lot more about your insecurities.


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Son_ofwalt

You've contradicted yourself 20 times over the past few years trying to act like the smartest guy in the room. Sorry I can see through the bs.


Son_ofwalt

13 downvotes currently. But nobody wants to articulate why anything I've said is inaccurate? Sounds about right.


[deleted]

Some people prefer to not waste their time.


Son_ofwalt

Spare me Kyra, you couldn't string together an intelligent rebuttal to anything I've said here if your life depended on it.


[deleted]

I would never spare you from anything, sir. Inclusivity is my MO.


Son_ofwalt

True, your lazy ass definitely doesn't spare my taxes from having to support you and your kid on assistance.


[deleted]

How am I lazy? And what does me being on assistance have to do with my MO? Edit: it's your, btw.


Son_ofwalt

It has everything to do with your MO. You're welcome though.


tupelobound

You (and all renters) should get familiar with the state's Georgia Tenant-Landlord Handbook, available online here: [https://www.dca.ga.gov/node/2945](https://www.dca.ga.gov/node/2945) It outlines a lot of what is and is not permissible for landlords (and renters) to do.


kebmpb

Depends on when the first right of refusal is. Check your lease or call for details. If it hasn’t passed then I’m pretty sure they aren’t allowed to do that. Also, is it Rent Athens by chance?!


Son_ofwalt

The lease and only the lease will detail what is "allowed" and what isn't. A right of first refusal in and of itself does not prohibit showing the property to prospective tenants during any period of time. The lease would have to expressly prohibited showing the property during a right of first refusal period. Which would kind of defeat the purpose of having a right of first refusal anyway.


dragonturtleduck

That's Athens, most landlords want leases (for the following July) signed before the end of fall semester at UGA. It sucks, but if you don't sign someone else will.


yourcatchphrase

Yeah... Athens landlords have completely lost the plot, but they don't care. As long as they can continuously sign someone new for next year, they can increase the rent more frequently while also taking on fewer responsibilities as a landlord, because kids don't know any better. Its predatory.


evan0735

lol the renewal deadline for my place was the last week of september


Fire27Walker

Property Manager, in Athens- but not OP’s 🤣We don’t start pre-leasing for Aug until mid-Spring, after we’ve had a chance to talk to tenants about renewal. A ton of the local management groups are doing pre-leasing now for next year, and it’s become a key part of the local student rental culture. I’ve been getting 4-5 messages day lately from students/parents trying to “tour” or get a jump on properties that are on our website (because they all are) but marked very obviously as “not currently available”. I’ve even been offered a bribe (a vague “I’ll make it worth your time”) by a UGA parent to sign a pre-lease early so that the current tenants couldn’t renew. It’s all so ridiculous!!!


Son_ofwalt

This post needs to be spammed on every thread where people are complaining about a new student housing development. Anybody claiming we don't need more student housing needs to hear this first hand account of students/parents who are willing and able to outprice locals for housing.


Fire27Walker

We need more student and non-student oriented housing options- period. The problem with Student centered developments is they are built & designed for student lifestyles and needs (tons of tiny bedrooms for roommates w little living space). But once the “new development smell” has worn and there is something new and shiny the students flock to it. Then, those units are hard to fill with working families, retirees or even young professionals (especially when they are still student “surge” priced). Eventually, the complex will sell to a bargain basement bidder that *may* rent out to others at lower price points. But the complex falls into disrepair and disfunction because the owners do not care for or maintain the property or more importantly treat their tenants with basic respect & decency - becoming a blight to the area. Just to have the cycle repeat… I’ve lived in various college towns my whole life and this is nothing new or specific to Athens.


Son_ofwalt

I'll push back a little here. A new "luxury student housing development" is just marketing jargon for a new apartment complex. We have new cookie cutter SFHs being marketed as luxury housing too. It's also completely inaccurate to say older "student" housing is hard to fill. We have almost 0% vacancy across all housing units today. All apartment complexes have the same cycle, they all go from new and shiny, then become less and less desirable over time until reinvestment. This cycle is not limited to student housing. A "blight" to the area actually means cheaper housing units. Without those "blight" units, you are left with zero affordable units. Working families can certainly live in a 3 bedroom apartment, but I agree working families are more situated for a single family home. And when students are also competing for single family homes, then it makes it significantly more difficult for that working family to be able to lease the same property. That's why more student housing is needed. Developers are going to maximize returns, they aren't going to spend millions to build for below market rate rents. Not allowing student housing just results in less invest and less supply making everything less affordable.


Fire27Walker

I don’t disagree at all, both are needed and one alone won’t solve the problems. In regard to the student housing, a 3 bed wouldn’t be hard- but I was thinking more of the 4bed/4baths or even 5/5 that border on townhouses and are not meant to be afforded by a single income.


Son_ofwalt

The older 4 and 5 bedroom "student housing/multi family" units that become less desirable to students simply become more affordable for families and locals that still don't mind roommates though. We actually have a strong push from some county officials to eliminate the single family zoning ordinance and allow more than 2 unrelated parties to live in single family housing because their is some demand for 3+ unrelated parties to share housing costs. However, this policy change would be counter intuitive to affordability because it would make every single home in the city a potential 3+ student housing investment property and change the quality of life within our single family neighborhoods. If the existing single family ordinance was better enforced, we could see an influx of existing 3+ bedroom homes become more affordable housing supply for families/locals since 3+ students wouldn't be eligible to rent them "by the bedroom". Plenty of families have the need for a modest 4 bedroom house that they are currently priced out of because it is occupied by 4 college students. The investor demand on these homes would also drop because of lowered potential rents and less predictable tenants compared to 4 individual college students all signing a lease with 4 parent guarantees which inflates the value of these properties.


d33zMuFKNnutz

Name and shame.


_T_nasty

Real estate agent here: review your lease agreement. There should be a section that lays out The landlords access to the property. Some contracts will state the amount of notice they have to give. Less than four hours seems sketchy at best


moon_astral

Just got the call to renew Monday, stating the incentive was to lock in my current rate.


RealRefrigerator6438

As a UGA student, most people I know (including myself) have already signed leases, are planning on signing a lease soon, or are touring apartments if they’re not going to live on campus next year. So I’m not really surprised. Sorry that Athens is such a shitty place to rent because of the student population here. I hope you find a place that’s less student focused and more normal!


Son_ofwalt

It’s a shitty place to rent because the county has denied way too much housing over the past decade which has gotten us to this supply crisis. It’s not a surprise a college town needs student housing.


DrStrangeloveGA

Yep, and we're adults living in a house with a lease ending in June. That's Athens for ya.


QuietlyCompetent

I'm honestly really surprised mine hasn't gone up more. In 4 years here, they've raised it once, barely. They never bother me either.