Agreed. My parents have a multi family rental property that has doubled in assessed value in only 2 years. Their neighborhood of mostly single family homes went up minumally compared.
Eta: My parents don't make any profit. They always charge below market rents. All income goes to costs and repairs. This year the taxes alone increased enough to equate an $80 per month per unit increase cost. Down vote all you want, but that is a cost increase that needs to be passed on, or they will lose the property to taxes owed. Not every person wants to be a homeowner. Not everyone can save the down-payment. They are providing a service to renters.
thimbelinda t1_jchv2w5 wrote
Reply to comment by jpm01609 in Rent Hike by sbenzing100
Agreed. My parents have a multi family rental property that has doubled in assessed value in only 2 years. Their neighborhood of mostly single family homes went up minumally compared.
Eta: My parents don't make any profit. They always charge below market rents. All income goes to costs and repairs. This year the taxes alone increased enough to equate an $80 per month per unit increase cost. Down vote all you want, but that is a cost increase that needs to be passed on, or they will lose the property to taxes owed. Not every person wants to be a homeowner. Not everyone can save the down-payment. They are providing a service to renters.