Keeping Our Tenant For Another Year

Discussion in 'Landlord & Rental Property Questions' started by Kate, Sep 3, 2014.

  1. Kate

    Kate Senior Investor

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    Well, negotiations with our manager are over and he's presented the changes to the current tenant. Looks as if everything has been agreed to including the rent increase. Whew... I was little worried about that one! Personally I'd *never* pay that amount of rent... or even half of it, but I guess it's true that "location location location" is everything.

    When searching for investment property, do you always keep the location in mind for future increasing revenue by way of rent increases... or do you have other criteria for the property you will be buying?
     
  2. Rainman

    Rainman Senior Investor

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    Location does matter a lot unless you don't have choices. But for property which you intend to make money from, since you have the money to invest, there'd be no point in just buying property simply for the sake of it. Where I live, property that's just way out of town but close enough to commute to work everyday can get you some good money. That's probably what I'd be looking for in a location.
     
  3. Gelsemium

    Gelsemium Senior Investor

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    Location is the key factor in my opinion, I think that some locations worth gold, even more than the property itself. ;)
     
  4. dianethare

    dianethare Senior Investor

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    That's what i hear...too bad i can't move the property...i guess in my situation it'll be a matter of crossing fingers.
     
  5. wulfman

    wulfman Guest

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    I think most tenants are a pain in the butt. My parents have 3 of them and each one is an aggravation.
     
  6. Kael

    Kael Guest

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    We did chose a rental property based on its location. We planned on increasing the rent yearly as the property was occupied because we chose a beautiful historical house that was in a pristine neighborhood. There should be a base idea about what a Landlord desires to make in return on his property investment.
     
  7. Determined2014

    Determined2014 Guest

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    Location matters a lot, you can have property that is not all that, yet because of the location , it becomes worth a lot.
     
  8. Strykstar

    Strykstar Well-Known Member

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    Glad to hear that the tenant is staying for another years, hopefully for a few more after that as well :)
    Location, location, location really is the golden rule of real estate, people will pay above average prices for a home as long as the location is good and/or improving.
     
  9. shilpa123

    shilpa123 Banned

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    I do believe that location is quite an important criteria while buying any place but I am not sure of how badly it is important. Another thing I keep in mind whiule byuying out property is the availability of basic resources like water and electricity. If the basic resources and facilities are available in that particular area I think it is quite worth buying the property even though The location is not very prime.
     
  10. Kate

    Kate Senior Investor

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    Water and electricity available? I really can't think of any place where water and electricity would *not* be readily available. Maybe I'm not understanding what you're saying? If you mean like a remote cabin in the mountains or something, I'd not consider that anyhow for investment property... even if we'd dig a well and buy a generator. :)
     

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