DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
12 comments:
If renting were not profitable they would not be doing it.
OMG, this caused an outburst of laughter you cannot imagine unless you're one of my neighbors. They probably think I'm watching Seinfeld or something.
Hell's bells, are these hearings really this boring? It's like watching paint dry. Actually worse.
Oh you mean some of the people in Salisbury foiled the ruse Day was trying to pull on the locals? Imagine that. Some voters have brains. You'd never know by the way he placates to them as if they were dumber than rocks.
Why don't you help local youth find summer jobs which will keep them out of trouble instead of all the fancy talk?
Remember I mentioned the Mayor having six people on his staff who were hired to defend anything negative on the Internet. Well, trust me, they're hard at work this morning. They believe the landlords should be paying a higher price so that the property owners can pay less. That's NOT how it works people. They already charge outrageous rates/fees to landlords. Jake Day is clearly targeting the largest business in Salisbury and guess what Folks, remember all the INDUSTRY that used to be in Salisbury and left because of water and sewer increases as well as taxes and fees. What's going to happen if ALL of the landlords give up and walk away. Banks would be forced to close, YOUR property values will go to the lowest value in 100 years. The market would be flooded and you'd never be able to sell your homes either.
Leave it to the Liberals to continue to destroy Salisbury even more.
Don't you love the way Democrats pat each other on the back? It's just so heartwarming, aint it?
I think this was a ruse from the beginning. Day owes the landlord-realtor cabal a lot for the money they pumped into his campaign.
Now he can look like the victim who tried to do something for the homeowner taxpayers but was assumedly thwarted by the "mean old landlord bullies."
Hey Boy !!!!
First, let me say that it is the "N Double-A C P", not the "NACP", thank you Ms. Ashanti.
Now, for the first poster at 10:09, I was a landlord, and it wasn't because it was profitable. I got divorced during the real estate boon, and bought a very nice sized townhouse, with zero maintenance in Salisbury, for $200k. Fast forward a few years, I married again, we had a child and outgrew the townhouse. I still owed a considerable amount on it, so we rented it out, and in the meantime had saved up some money for a down payment on a new house. In addition to all the fees that took us by surprise, thank you Salisbury, there was also down periods where there were no renters, and we had to foot the electric, gas, HOA, and mortgage bills. Most of the rest of the time the rent covered all that, and we pretty much broke even.
So, yes, money can be made on it. But to do that, you have to pick a crappy neighborhood that you would never live in, or raise a family in. Buy a crappy little house and be the contractor for everything to be remodeled and brought up to code, then charge higher rent than a single person could afford to pay. And there can't be an HOA.
As the renter, you may have to share cable with your neighbor. You may also have to go into alternating what bills get paid.
Good luck for those that choose to do this as a way of life! It wasn't worth our headache.
Precisely! Day not Ireton never intended to rein the landlords in. I have studied this issue for many years. The in many cases, the landlords are responsible for tanking values. Many of their properties suck a disproportionate amount of city services. If they don't like doing business in Salisbury let them go elsewhere. I've been in many of these "affordable" rentals. Can you say SLUMS? If a bank goes under because of this then they relied on bogus appraisals or ignored the risks of concentration. Compare crime stats to highly transient slummy rental areas and you will see what a drain these operations are on our city. I'm tired of my tax dollars being used to subsidize their operations while they destroy my neighborhood.
Joe, the landlords WILL NOT "give up & walk away"! They are making too much money on their rentals!!!
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