Author Topic: The Future of Lakewood  (Read 211242 times)

Online YitzyS

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Re: The Future of Lakewood
« Reply #1280 on: October 22, 2021, 02:03:34 PM »
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?

Online Euclid

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Re: The Future of Lakewood
« Reply #1281 on: October 22, 2021, 02:04:40 PM »
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?"

Online yesitsme

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Re: The Future of Lakewood
« Reply #1282 on: October 22, 2021, 02:06:15 PM »
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
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Online YitzyS

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Re: The Future of Lakewood
« Reply #1283 on: October 22, 2021, 02:09:13 PM »
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

Offline yuneeq

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Re: The Future of Lakewood
« Reply #1284 on: October 22, 2021, 03:13:13 PM »
My tenant raised the rent on himself to $1300
"If you fall, I will be there." -Floor

Online yesitsme

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Re: The Future of Lakewood
« Reply #1285 on: October 22, 2021, 03:14:15 PM »
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
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The Future of Lakewood
« Reply #1286 on: October 22, 2021, 03:33:06 PM »
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.)

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Re: The Future of Lakewood
« Reply #1287 on: October 22, 2021, 03:35:40 PM »
its odd that landlords are paying less by taking advantage of the low interest rate and tenants are paying more Due2Covid
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Re: The Future of Lakewood
« Reply #1288 on: October 22, 2021, 03:39:41 PM »
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.

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Re: The Future of Lakewood
« Reply #1289 on: October 22, 2021, 03:49:56 PM »
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
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Offline cmey

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Re: The Future of Lakewood
« Reply #1290 on: October 22, 2021, 04:31:37 PM »
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 havenít raised the rent and see it as a tova I am doing for a tenant that is mentchlach.

That being said Iím 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 canít afford full tuitions. Should we prioritize the schools over our tenants?

These are some of the questions I grapple with. For now itís status quo.

Offline Mordyk

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Re: The Future of Lakewood
« Reply #1291 on: October 22, 2021, 04:59:10 PM »
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 havenít raised the rent and see it as a tova I am doing for a tenant that is mentchlach.

That being said Iím 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 canít afford full tuitions. Should we prioritize the schools over our tenants?

These are some of the questions I grapple with. For now itís 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

Offline cmey

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Re: The Future of Lakewood
« Reply #1292 on: October 22, 2021, 05:22:25 PM »
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
Thereís 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 Iím not sure how far it extends.

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Re: The Future of Lakewood
« Reply #1293 on: October 22, 2021, 05:33:58 PM »
Thereís 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 Iím not sure how far it extends.
I'm with you all the way
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Re: The Future of Lakewood
« Reply #1294 on: October 22, 2021, 06:05:57 PM »
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.

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Re: The Future of Lakewood
« Reply #1295 on: October 23, 2021, 08:07:04 PM »
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
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Offline cmey

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Re: The Future of Lakewood
« Reply #1296 on: October 23, 2021, 08:34:28 PM »
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 isnít worth close to that financially.

Offline coffeebean

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Re: The Future of Lakewood
« Reply #1297 on: October 23, 2021, 08:40:28 PM »
$1000 difference a year can be a business decision. Once you start approaching $6-7000 difference even the best tenant isnít worth close to that financially.
You'll probably make a new nice tenant by offering the house to anyone these days.

Offline Fish Tank

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Re: The Future of Lakewood
« Reply #1298 on: October 23, 2021, 08:44:52 PM »

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