The Future of Lakewood

[YitzyS]

my neighbor just got 1750

Does your neighbor have a 3-bedroom basement on Clifton and 8th or a 1-bedroom basement on Route 9 and Chestnut?

[Euclid]

Does your neighbor have a 3-bedroom basement on Clifton and 8th or a 1-bedroom basement on Route 9 and Chestnut?

"Where do you live?"

[yesitsme]

Does your neighbor have a 3-bedroom basement on Clifton and 8th or a 1-bedroom basement on Route 9 and Chestnut?

3-bedroom basement
went for 1150 4 years ago

[YitzyS]

3-bedroom basement
went for 1150 4 years ago

I know someone trying to get $1,500 for a basement that went for $700 4 years ago

[yuneeq]

My tenant raised the rent on himself to $1300

[yesitsme]

My tenant raised the rent on himself to $1300

I guess he knew it's coming he just wanted to be over with it

I never raised my tenants rent

[Euclid]

My tenant raised the rent on himself to $1300

Lol

My tenant is still paying $1100 (my neighbor is getting $1600) but he just bought a house and is moving out soon so I'm not going to raise him for a couple months. (Don't PM me about the apartment, I already have a list; and he's still not sure when he's moving out.)

[yesitsme]

its odd that landlords are paying less by taking advantage of the low interest rate and tenants are paying more Due2Covid

[Euclid]

its odd that landlords are paying less by taking advantage of the low interest rate and tenants are paying more Due2Covid

Real estate has historically been a good hedge against inflation.

[yesitsme]

Real estate has historically been a good hedge against inflation.

why would a landlord raise his tenant? just because he could? I guess it really depends the point of view about a tenant

[cmey]

why would a landlord raise his tenant? just because he could? I guess it really depends the point of view about a tenant

Because a basement is an asset meant to generate income. That being said my tenant took the apartment when the market was flooded and I went down from the 1250 the previous tenant was paying to under 1100. I haven’t raised the rent and see it as a tova I am doing for a tenant that is mentchlach.

That being said I’m somewhat conflicted. I can easily get 6-7 k more per year based on my basement size and location. My tenants are living at a somewhat higher standard than we are. Does it make sense to be metzamtzem ourselves to charge them less? And what about tuition? We are paying nicely but can’t afford full tuitions. Should we prioritize the schools over our tenants?

These are some of the questions I grapple with. For now it’s status quo.

[Mordyk]

Because a basement is an asset meant to generate income. That being said my tenant took the apartment when the market was flooded and I went down from the 1250 the previous tenant was paying to under 1100. I haven’t raised the rent and see it as a tova I am doing for a tenant that is mentchlach.

That being said I’m somewhat conflicted. I can easily get 6-7 k more per year based on my basement size and location. My tenants are living at a somewhat higher standard than we are. Does it make sense to be metzamtzem ourselves to charge them less? And what about tuition? We are paying nicely but can’t afford full tuitions. Should we prioritize the schools over our tenants?

These are some of the questions I grapple with. For now it’s status quo.

It's essentially tzedaka.  Would this be a cause that you would give $6k annually?   Or charge them regular and give charity elsewhere.   This is what you need to decide

[cmey]

It's essentially tzedaka.  Would this be a cause that you would give $6k annually?   Or charge them regular and give charity elsewhere.   This is what you need to decide

There’s a difference between a tenant that is already living by you and extending a $600 discount to a random new tenant off the street. I see more of a moral obligation to the former than regular hilchos tzedaka but I’m not sure how far it extends.

[yesitsme]

There’s a difference between a tenant that is already living by you and extending a $600 discount to a random new tenant off the street. I see more of a moral obligation to the former than regular hilchos tzedaka but I’m not sure how far it extends.

I'm with you all the way

[Euclid]

It's essentially tzedaka.  Would this be a cause that you would give $6k annually?   Or charge them regular and give charity elsewhere.   This is what you need to decide

It's also a business decision. Having a well behaved, happy tenant is worth money.

[yesitsme]

It's also a business decision. Having a well behaved, happy tenant is worth money.

says who? let him move and you get a higher paying tenant

[cmey]

It's also a business decision. Having a well behaved, happy tenant is worth money.

$1000 difference a year can be a business decision. Once you start approaching $6-7000 difference even the best tenant isn’t worth close to that financially.

[coffeebean]

$1000 difference a year can be a business decision. Once you start approaching $6-7000 difference even the best tenant isn’t worth close to that financially.

You'll probably make a new nice tenant by offering the house to anyone these days.

[Fish Tank]

my neighbor just got 1750

Location?

[Euclid]

Location?

"Where do you live?"