High rent necessary for landlords
Wednesday, August 14, 2013 - 9:18 am

In regards to “Renting frustration,” it’s not the public’s responsibility to see to it that things in your life are affordable. It’s up to you to create a situation so that you can afford life. You also stated that you should be able to smoke. I found your money for you. At $10 per pack, smoking one pack a day costs about $3,650 per year. Take that money and rent a better apartment with your $304 each month. Let’s pretend the house I live in is a rental. I carry a mortgage of $120,000 on the house. The mortgage payment is about $550 per month and the taxes are about $450. Let’s not forget the $100 per month for fire insurance. This means the cost to carry our home is around $1,100 per month. I would have to charge $1,100 per month, with the tenants covering utilities, lawn care, and snow removal. Seems expensive right? It’s because it has to be.