Apartment rant

[Caleb]

Ok, lets first start off with that I'm a college students with two little girls and a wife...not making very much with my part time job. So to get out of my parents house, my wife and I decided to go apartment shopping...wow! Prices went through the roof....thanks cummins!

Right now I'm looking at Forest Hills on 46 towards nashville...but to get on the waiting list, we'd have to pay $40 app fee(expected) and a $50 security-hold-my-place-in-line fee(refundable for up to 72 hours) but we won't get to see what the apartment actually looks like until another 10 days or so(against company's policy to show apartments before they are ready). So $90 is non-refundable if I don't happen to like it.

Other 3 bedroom apartments in Columbus are at least $900 a month, most are close to $1400 a month unless you get one of those shady apartments with crappy managers(and awful neighbors you just can't trust).

A lot of these apartments require that you'd make 3x what rent is(which I can understand if you're paying month to month, but can't budge if I'm putting down a whole year worth of rent?!)

I'm done with my rant, Evalyn is getting into stuff....

 

[hoosierdoc]

We looked at apartments behind Menards and one west of 65. I think they were >$2000/mo. Just craziness

 

[terrehautian]

Apartments, nice ones, here in Terre Haute are not much better in pricing. About 600 for a nice 3 bedroom, but you have to pay all utilities. I am saving up for a big purchase later, so I moved in with my dad (he has a nice house and our work schedules mean we don't see each other three to four days a week. I was splitting an apartment with someone and I was paying 390 a month for everything. Now my dad and myself split utilities. Hopefully next time I move, I will be married and possibly between my current girlfriends income and mine (sadly, mostly hers), we can buy a house. I don't really want to rent again, it is like paying for a home but not getting to keep it at some point.

 

[IndySSD]

As fewer and fewer people qualify for ownership, rentals become more valuable.

Supply and demand rule the free economy and right now, Columbus is short on supply.

 

[Caleb]

As fewer and fewer people qualify for ownership, rentals become more valuable.

Supply and demand rule the free economy and right now, Columbus is short on supply.

I dare say so...unfortunate thing is we can't buy a house and fitting 7 people in a 4 bedroom house just doesn't work.

 

[TTB Yeee]

Yep, this is the exact reason I am buying my first house. I graduated college a year ago and have a pretty good career going, so instead of wasting money on rent, I decided to buy a house. My mortgage is about the same as my one bedroom apartment rent.

Good luck finding something cheap/livable, because around Indy the affordable places are usually pretty trashy.

 

[BuddieReigns]

My girlfriend and I rent a two and a halfish bedroom house in Muncie for 425 + utilities - water. And I don't have to mow the grass.

 

[snorko]

A lot of these apartments require that you'd make 3x what rent is(which I can understand if you're paying month to month, but can't budge if I'm putting down a whole year worth of rent?!)...

If you seriously have the ability of putting 6 months or more down, consider looking at a smaller property or a house. An individual will likely be more receptive to discounting rent than a corporation if a large amount is paid in advance. I would not pay a whole year up front though, in case of management problems. Don't expect much discount though. I rented a 3br property in Evansville for $725/mo. Knowing the tenant would be paying 3-6 months at a time, I knocked it down to $700.

 

[hoosierdoc]

My girlfriend and I rent a two and a halfish bedroom house in Muncie for 425 + utilities - water. And I don't have to mow the grass.

Or do the dishes!

3000th post FTW!

 

[U.S. Patriot]

Did you look into Applegate? I know there is at least one two bedroom available. I can can ask what rent is. I pay $470ish a month for a one bedroom, and that includes water and trash.

 

[Mr.JAG]

Most Landlords/Management companies will not allow pre-payment because it makes the eviction process very difficult if the need were to arise. I know it sounds counter intuitive, but they are protecting themselves by not allowing pre-payment.

 

[88GT]

As fewer and fewer people qualify for ownership, rentals become more valuable.

OP, look for single family housing or doubles.



Oh, I'll take pre-payment any day of the week (FWIW, monthly rent IS a pre-payment). Lease defaults warranting eviction won't be affected by whether or not someone has paid in advance.

 

[Caleb]

If you seriously have the ability of putting 6 months or more down, consider looking at a smaller property or a house. An individual will likely be more receptive to discounting rent than a corporation if a large amount is paid in advance. I would not pay a whole year up front though, in case of management problems. Don't expect much discount though. I rented a 3br property in Evansville for $725/mo. Knowing the tenant would be paying 3-6 months at a time, I knocked it down to $700.

I've thought about buying land, then build a house on it later...

Did you look into Applegate? I know there is at least one two bedroom available. I can can ask what rent is. I pay $470ish a month for a one bedroom, and that includes water and trash.

Really wanting a 3 bedroom so the girls can have their own room...couple hours after making this rant thread, I get a call back from forest hill. The lady had a brain fart(brand new employee) that we were suppose to come in today. So tomorrow at noon we get to look at a 4 bedroom appartments(just like the 3 bedroom, but with an extra room) and our rent will be $437 a month! Now that's what I'm talking about!! I'm thrilled, plus big wood is only 4.6 miles away...so I might have to have an OC house warming party!

 

[88GT]

I've thought about buying land, then build a house on it later...



Really wanting a 3 bedroom so the girls can have their own room...couple hours after making this rant thread, I get a call back from forest hill. The lady had a brain fart(brand new employee) that we were suppose to come in today. So tomorrow at noon we get to look at a 4 bedroom appartments(just like the 3 bedroom, but with an extra room) and our rent will be $437 a month! Now that's what I'm talking about!! I'm thrilled, plus big wood is only 4.6 miles away...so I might have to have an OC house warming party!

$437/month? That's actually scary.

 

[Caleb]

$437/month? That's actually scary.

Brand new as of last year, not based on pay but percentage bracket for poor people like me

 

[88GT]

Brand new as of last year, not based on pay but percentage bracket for poor people like me

Okay. That I understand. We have a few of those around here too.

Still, if there's one thing I have learned as a landlord, it's that rent has the strongest correlation to tenant quality. Crap tenants are almost always in my lower rent units. Not to say that all tenants in lower rent units are crap. Square/rectangle kind of deal.

Be prepared for some experiences, that's all I can say. Bet you'll be looking to relocated before the lease is up.

 

[04DarkShadowGT]

Brand new as of last year, not based on pay but percentage bracket for poor people like me

You are welcome for paying the additional percentage of your rent j/k

We have those in FW too, one was right behind our old house and the people that live there sucked. They continually broke the fence between the complex and our housing edition, threw bottles into yards, threw stuff at houses, etc. I know its cheap but be careful there.

 

[Caleb]

Okay. That I understand. We have a few of those around here too.

Still, if there's one thing I have learned as a landlord, it's that rent has the strongest correlation to tenant quality. Crap tenants are almost always in my lower rent units. Not to say that all tenants in lower rent units are crap. Square/rectangle kind of deal.

Be prepared for some experiences, that's all I can say. Bet you'll be looking to relocated before the lease is up.

I've met several tenants and those I have met are really nice. These aren't some run down apartments in Indy or those mismanaged based on pay apartments we used to be at...and these are cheaper that those we used to be at. The whole place is always lit up at night and complete with security camera's. Then there's my gun...

 

[Caleb]

You are welcome for paying the additional percentage of your rent j/k

We have those in FW too, one was right behind our old house and the people that live there sucked. They continually broke the fence between the complex and our housing edition, threw bottles into yards, threw stuff at houses, etc. I know its cheap but be careful there.

As said before, of the people we met, none of them come across as scumburgers

 

[BE Mike]

Are mobile homes and manufactured homes that expensive these days? Maybe a piece of land and one of those? I actually lived in two trailer parks. One as a kid and one as an adult. It wasn't bad.