Letter: Landlords have costs, too
Having read a letter titled “Greedy Landlords,” I wish to comment.
The best-case scenario for a landlord is their property pays for itself via the rental income. Not profits, but breaks even.
Rental property owners replace items such as dishwashers, repair plumbing, fix roofs and do other maintenance areas as the need arises. Tenants normally do not pay out of their pocket for those. They call their landlord.
As the property owners’ costs change, landlords normally adjust their rent rates. For example, landlords are not impervious to the property tax woes your area is now facing, leaving some homeowners apparently unable to pay, per recent letters to the editor.
In Garfield County, property valuations increased (per your newspaper) an average of 18 percent, plus new school district taxes for most that were OK’d by your voters. That translated into a noticeable increase in monthly costs for all property owners, including your landlords. Other areas that can change in costs are homeowners insurance and utilities, to name just a couple.
Most landlords aren’t independently wealthy. As each lease reaches renewal or new renters rent, the landlord adjusts the rent rates according to their current costs for their owned properties.
It isn’t greed at work here. Landlords are simply trying to pay their bills along with everyone else.
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