Cruz wrote...
I've seen people make it work, mostly college kids. 4 Room houses being rented at 1.2k a month, with 5 sometimes 6 residents.
Then again, the subjective value for wherever you live is probably higher. I wouldn't blame greedy rental property owners for the constant rise of property values and demand for them.
Ah, that makes sense.
If you have roommates then it becomes a lot cheaper.
Though, as for greedy landlords, they're not ENTIRELY to blame, as there are a lot of factors, but they are a huge factor (at least in the Portland area) because of a loophole in rental law which allows them to sell properties to new owners at any time, and the new owners can jack up the rent as much as they want (up to 350 dollars in one go has already happened nearby) in the name of upgrades (basically, a new coat of paint and cheap repairs that SHOULD have already been done).
If not for the fact that the loophole was abused ALL THE DAMN TIME here, we wouldn't have as severe of a homeless crisis as we do.
They're pricing everyone out of Oregon neighborhoods with this loophole.
The only thing they have to do is make good on their "upgrades" within a year, but there is nothing that prevents them from selling the complex again in that time frame, which is pretty fucked up.
Thus, you have complexes like mine. I've been here for less than a year, but already see it change owners 4 times.
It's ridiculous, and my rent is ludicrous thanks to it (1350 for a 1 bedroom in a shitty neighborhood with hookers, gang violence and drug trafficking. Go to downtown Portland and you pay 2.7k for the same).