These people (many of them my fellow millennials) really are clueless. They complain about the greediness of landlords while failing to realize that the prices are so high because there's limited supply and high demand from them and their ilk. They really should be blaming their peers for being willing to pay these "exorbitant prices".
None of my tenants have EVER done anything that made me feel as though I was charging too little rent; mostly the complete opposite. Then when you have them voting for higher property taxes and utilities prices (due to their green energy initiatives) they get rent increases. I have lost several tenants due to having to increase rent from taxes and utilities (which I cover). I am sure they voted for it... coincidentally the property they vacated was not vacant for more than a week... guess rent wasn't too high for someone!
Yeah, in retrospect I am lucky that my tenants haven't abused me in that area.
I originally did this because one of my properties has a shop on the land that I have retained access to and I didn't want to even have the discussion with my tenant that while welding may pull several KW while it is running, it isn't running 24/7.
I did notice an extra ice chest in my tenant's house while I was doing some repairs in there the other day... which explains some of the 20% jump in the electricity bill.
You have absolutely no motivation to conserve if someone else is paying. Instead you actually have incentive to be wasteful (IE bitcoin mining or putting in extra fridges).
You're just asking for problems. There's absolutely no way to do that without SOMEONE losing out and subsidizing the other person.
Either you aren't charging enough, And you are getting screwed, or you're charging too much and they are.
The most fair way to do it is to make the tenants get utilities in their own names, and if they run up their bill by 20% it's their problem to pay it.
You should just change the policy and adjust the cost of rent to reflect that utilities are no longer included. Then you don't have to worry about how many fridges your tenants have (which seems a bit intrusive TBH).
Definitely fair comments. Reminds me of some of Machiavelli's comments in The Prince.
As an aside, this tenant has had medical problems and has been in rehab for literally the last 4 months (thank God he and his family have continued to pay rent) - I used the opportunity of his absence to basically do some major backlogged work and remodels in the place (new floors and tile) since the house was for sale. I only noticed the freezer because I was in there and hadn't been for over a year and a half (he's lived there for 4 years). He even continues to receive frozen mail order food that I put in there for him - weird.
Back in college I folded non-stop with my multi-GPU rig (8800GTs represent!). I am sure my power bill for my dorm room was hundreds per month... if only there were ASICs back then. Now I am designing a rig to plug in my Bolt to charge and simultaneously run some GPUs mining at the muni building down the street which has free 6.6KW charging. So I know a thing or two about not caring about the power bills.
These people (many of them my fellow millennials) really are clueless. They complain about the greediness of landlords while failing to realize that the prices are so high because there's limited supply and high demand from them and their ilk. They really should be blaming their peers for being willing to pay these "exorbitant prices".
None of my tenants have EVER done anything that made me feel as though I was charging too little rent; mostly the complete opposite. Then when you have them voting for higher property taxes and utilities prices (due to their green energy initiatives) they get rent increases. I have lost several tenants due to having to increase rent from taxes and utilities (which I cover). I am sure they voted for it... coincidentally the property they vacated was not vacant for more than a week... guess rent wasn't too high for someone!
You cover utilities in your rentals? Can I rent from you?
I've always wanted to start a bitcoin farm but I don't wanna pay for the electricity!
Yeah, in retrospect I am lucky that my tenants haven't abused me in that area.
I originally did this because one of my properties has a shop on the land that I have retained access to and I didn't want to even have the discussion with my tenant that while welding may pull several KW while it is running, it isn't running 24/7.
I did notice an extra ice chest in my tenant's house while I was doing some repairs in there the other day... which explains some of the 20% jump in the electricity bill.
You have absolutely no motivation to conserve if someone else is paying. Instead you actually have incentive to be wasteful (IE bitcoin mining or putting in extra fridges).
You're just asking for problems. There's absolutely no way to do that without SOMEONE losing out and subsidizing the other person.
Either you aren't charging enough, And you are getting screwed, or you're charging too much and they are.
The most fair way to do it is to make the tenants get utilities in their own names, and if they run up their bill by 20% it's their problem to pay it.
You should just change the policy and adjust the cost of rent to reflect that utilities are no longer included. Then you don't have to worry about how many fridges your tenants have (which seems a bit intrusive TBH).
Definitely fair comments. Reminds me of some of Machiavelli's comments in The Prince.
As an aside, this tenant has had medical problems and has been in rehab for literally the last 4 months (thank God he and his family have continued to pay rent) - I used the opportunity of his absence to basically do some major backlogged work and remodels in the place (new floors and tile) since the house was for sale. I only noticed the freezer because I was in there and hadn't been for over a year and a half (he's lived there for 4 years). He even continues to receive frozen mail order food that I put in there for him - weird.
Back in college I folded non-stop with my multi-GPU rig (8800GTs represent!). I am sure my power bill for my dorm room was hundreds per month... if only there were ASICs back then. Now I am designing a rig to plug in my Bolt to charge and simultaneously run some GPUs mining at the muni building down the street which has free 6.6KW charging. So I know a thing or two about not caring about the power bills.