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Updated over 9 years ago on . Most recent reply

User Stats

73
Posts
49
Votes
Petra M.
  • Investor
  • Los Angeles, CA
49
Votes |
73
Posts

A prop owners: Why do your tenants rent instead of buy?

Petra M.
  • Investor
  • Los Angeles, CA
Posted

Those with A properties, why do your tenants rent rather than buy? 

I'm relatively new to the game and have a couple of A properties that rent for $2000+/month.  My tenants all make a gross income of 3x rent and have great jobs.  I can't figure out why they'd rather rent than buy.  One tenant had a recent bankruptcy due to medical expenses, but aside from that, why do you're A prop tenants rent instead of buying?  Also, how long have they been renting for?  

I imagine the minute 7-years passes, they'll end up looking for a home...

Most Popular Reply

User Stats

88
Posts
19
Votes
Patrick Donovan
  • Investor
  • Dubuque, IA
19
Votes |
88
Posts
Patrick Donovan
  • Investor
  • Dubuque, IA
Replied

A couple of my cousins make good money. Way better than I do but they still rent. I think they just don't want to have to deal with things when they go wrong at their houses or don't want to be tied to a place in case of an emergency and have to move asap. For some people it just makes more sense to rent. Never for me though paying rent was one of the hardest things I ever did ! Pay for someone else to own a house and make.money ? That's just crazy! 

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