So very true Tito! I make way below rental rate for my tenants and they have all been very very grateful, all it takes is realizing a steady small stream is better than an occasional gush of income
And while I agree with you (I was well below market value for the condo i rented out for 10 years before selling it last year), the issue in this case is the building was sold and the new owner paid over $1m for it. It’s pretty simple math to figure out that the rental price per unit was going to increase. Hell, just assuming that building has 4 units at $3500 a month, not including property taxes and insurance, any other repairs or maintenance items or even the interest on their loan, the breakeven point would be around 6 years. So the actual would likely be closer to 10 years. To get back your initial investment… this honestly isn’t a great deal for an investor to begin with if you’ve gotta wait 10 years just to begin hitting the black ink.
That house sold for a million dollars?! That's the problem right there, people are buying houses that are no where near worth the price tag and passing their stupidity on to tenants🤦🏾♀️
@@twdjt6245 Yeah supply was artificially because the pandemic created programs like Foreclosure forbearance and eviction prohibition. That is how supply was artificially created. Lets be honest
If it sold for $1million that means it most likely appraised for that or near that amount. People need to start buying the homes they live in so we can eradicate this issue. Everything goes up and it was a matter of time before people saw the value in Miami and the surrounding neighborhoods.
I was renting a condo in Oakland, California for 2012-2015. A Chinese business owner bought it to park some of his cash, increased my rent from $1600 a month to $4400 a month, effectively evicting me. The condo is vacant to this day. Investors making housing unaffordable is nothing new.
@@tyreefking8815 I understand and I’m speaking to this video. Any person paying attention could see this coming decades ago. She’s renting there for over 20 years. She should’ve been planned her next move.
I could not imagine renting one home long enough to have paid off two. That being said, there are a variety of reasons why people don’t/won’t/can’t buy. I am an owner and my property more than doubled in value since 2019. It is a money grab for these corporations that are leaving good tenants homeless. This is sad 😢
@@robinrynearson7212 Exactly! I have no idea what would make a person think that is a good idea🤷♀️. I am at a loss, seems terribly irresponsible and unreasonable to me.
@@robinrynearson7212 actually, quite a few people rent for many years, especially in POC communities where we generally are either denied home loans, or are given such ridiculous offers and rates to pay, it's pretty much impossible to afford. Sub prime loans are the main loans that are offered to us in POC/low income communities. These loans are quite literally scams designed for you to not be able to afford the payments at some point, and are almost guaranteed to end in foreclosure. And that's assuming you even get approved for that. My parents are in there late 50s, and have never owned a home, even though they have applied many times for loans through the VA, since they are both veterans. Even more sad is the fact that both of their mothers are single moms (now in their 80s) whom never owned a home, and even my great-grandmother, who passed away 7 years ago in her 90s, never owned a home her whole life. She lived in an apartment for the last 20 years of her life, paying rent. It's amazing what they put you through in America when you don't come from a background of privilege or generational wealth. It's just been a harsh reality.
How is the landlord going to get someone in there to pay that amount of money? The place looks totally outdated!! And who's gonna make three times the amount of rent? 80% of renters do not make that kind of money!! All I can say is karma for all these landlords that are doing this to people.
Rents are rising from 30% to 100% but salaries have remained the same. I don't believe that there are that many out of towners moving to Florida to sustain the rental markets so I definitely see a bubble popping in the forecast.
It is so sad. Inflation is the worst it’s been that I can remember in my lifetime and I’m an old guy. Whatever, don’t blame the people who voted for Trump. Joe did this, and you can’t blame it on Putin
TBH I am nervous we really see a French Revolution 2.0 because the working class has been pushed to its breaking point over the last couple of years. God help US, if we start to see the signs of a famine in this country. Elderly on fixed incomes, young people just starting out with limited means, single working class parents, all of them are struggling horribly right now. I'm lucky to make enough to survive but everything costs so much all at once: homes, food, furniture, cars, etc. At this rate I expect to start seeing organized gangs loot grocery stores and take over luxury developments (look into Tower of David in Venezuela). Tell me what good is all the money in the world if there is no where to enjoy spending any of it because greed has made it so those who work in skilled trades (auto mechanics, bakers, chefs, nurses, teachers) can no longer afford to live in the society greed created?
A friend of mine has been renting a ROOM for 7 years for 450 USD a months. It is not an apartment. It is a ROOM, now the landlord charges him 700 USD for the same room. I think I am moving to live in the forest.
I rent an apartment for 15 years because I couldn’t afford to buy and at the first chance I got I bought in a house in March 2020 and I am extremely happy I did. Can’t believe where I would have been if I didn’t buy.
@@stickynorth um, we bought our house in 2009, we had no dwn payment, we even asked the seller to do some improvements before we closed, and they did...
There’s only one reason why a landlord would raise the rent by that much: they want that tenant out. It looks as though they landlord isn’t providing any improvements to the property, either. No new tenant’s going to pay $3500 a month for that place. They’ll probably lose a bunch of money while it sits vacant. Also, it makes them look like an a-hole. It’s just bad business. Just because they can, doesn’t mean they should.
@@dcg590 it's a new landlord, they just bought her building for $1M barely two months ago. They're not recouping anything from her, they just want an extra $20k in cash flow from a wealthier tenant
It could be other reasons. They might want to renovate. They might want to recoup some of the money they spent. It does not make them look like an ahole. The lady knew the place was up for sale months ago. The new owners might have wanted to move in and that still might be also the reason. They said she only has a few weeks so she going to force the landlord to evict. She had all these years to save and buy a house before the year 2020. But she did not. It's his business and it's not really yours or mine to comment on.
What is going on in these destination areas like Florida, California, New York, are pushing the price up to live there to push out lower, and middle class. They are making America's most beautiful places unattainable for anyone who isn't super rich. These places should be for everyone.
I live in Hollywood Fla. They raised my rent 50 percent. What they are doing. Even a big company is buying up my neighborhood and kicking everybody out who can't pay. So i agree with you totally.
@@benvarela4472 the rich may own everything but the poor run it. That is who the essential workers are. Mostly poor. Essentially slavery on a much larger scale, with a couple human rights laws thrown in.
I moved out of my Bradenton apartment in September when they raised the rent 11% to about $1200. It is now on the market at $1658. This can't continue.
A buddy of mine has been paying $1,100 for his apt in Ft. Lauderdale that he's lived in for 6 or 7 years. A few days ago his landlord sent him a notice saying his rent as of June 1st will be $3,750. He told the landlord that's fine with him and he'll be out at the of the month with all of his things ( a/c units washer/dryer range and fridge ) he bought all that stuff while he was living there.
She should have saved extra money in those 22 years and bought a home. Never get comfortable renting from people. These landlords only care about money its time for the government to stop landlords from raising the rent sky high
It appears as though she was paying below market for several years. She should be satisfied that she got away with that for so long. I understand her surprise, but the new landlord probably paid top dollar for that home. The old landlord could afford to keep rent low because they bought the home decades ago for tens of thousands of dollars. This new landlord probably paid over $600k for that home. He has to be able to pay his mortgage and expenses. The onus is on the renter to make sure they can afford the neighborhood they live in, even after the home they are renting changed ownership.
Renting and owning property is a business. Got it? A business. If a different business owner you knew could make more money you’d say, that’s great, but for some reason you think landlords shouldn’t be able to. Why not?
While that might be a good idea for her to save money those twenty-two years you may not understand that some people's paychecks are not excessive. Not even a penny extra after paying all the bills and don't even have any cable internet or any extras of anything. I know I don't even have money for vacation any year. Some of us are not as blessed as others with money. We still feel grateful for what we have though and thank God everyday.
One thing you failed to recognize is that business is business. We go into business to earn money. Investment firms or individual investors are having to pay incredible prices for housing in today’s market.
Who do you think they are Regular people who bought one and built it into a company and now they don’t care they in it for the money The company is a front for the individual running it not to see the blame
I can't imagine paying someone rent for 22 years. She paid off their mortgage. She should have bought it 22 years ago. Rent is only good if your living somewhere short term but much better to own if planning to stick around. Land will always rise in price over time, population is rising and no more land being made. This will always be the case. Even more so with climate change and more land becoming uninhabitable with fire, flood, and drought.
I’m so happy I don’t rent....I feel bad for so many who are being evicted. This is horrible. I work in home care and I’m worried bout one of my clients whose 70 years old and might be loosing her apartment cause landlord wants to sell the apartment building. Plus there’s a woman who lives above her who has cancer and caring for her two young grandkids.
Kameron...BUT THESE investment companies buying up properties and increasing the rent and mortgages!...Also, even with home buyers or owners, the insurances, property taxes, maintainence, repairs, water, utilities, are also increasing!...THE foreclosures of homes are now about 30 to 40 percent, and not to mention imminent domain looming!..
My house is paid off so my average monthly cost for taxes/insurance is about $400. I can expect raises in the years to come but nothing like the arbitrary doubling or tripling of rent.
US government made the rental market worst during covid when they pass the eviction moratorium . It just make landlord across America 🇺🇸 angry and they end up raising the rents. What they should have done was pay the landlord for renters . Big mistakes and families are suffering now . 😢
I have 5 rental properties and only rent to retired professionals that have a nest egg, history of good work ethics and good Social Security income. My tenants live with me till they die or move to a nursing home. I take my tenants to the grocery store every week. We've become like family.
Many landlords in south Florida are encumbered themselves with mortgage taxes insurance & hoa fees and assessments. The only way they can squeeze income out of their properties is to keep the rent sky high.
So here's the thing. Over 10 years ago I considered taking a job in coral gables.. But then I looked at the rents.. Back then rent was 2000+ for one bedrooms .. She's lucky to have found a 3 bdrm for that amount and the new landlord knows he can command way more than even 3500 a month for a 3 bdrm.. Hard to sympathize with her. 22 freaking years. She has to make very decent money and have excellent credit to even live there.. She could have bought two houses for what she paid in rent.
She makes 62k, just read the article. Parents would rather live in a rich area with good schools than to live in cheaper areas with long commutes and poor services. Did she get a good deal? Yeah. But look at the place, it’s all Formica furniture, probably doesn’t even have a dishwasher. No way someone paying that much for it. They just wanted to get rid of her
Exactly she makes more than the people in need to me she used it to spend it all others only make 24,000 she is well off to the point she don’t need the help must of saved a lot
@@resuteru502 She IS NOT losing her home, she IS paying the price for not making a sound financial decision and purchasing. Why is someone supposed to sympathize with ignorance? No excuse-no one owes her any consideration for absurd behavior. She did not have a home to lose!
@@msmichelej amen. It’s always a sob story for the tenants but not the landlords forced to take losses over the last 2 years. Welcome to the consequences
Thats a hot area for all who don't know. 3500 hundred is what's expected. 1700 you can't even get a one bedroom in that area for that. Trusts me the one bedroom apartments are going for 2400 there.
Wonder why her previous landlord didn't ask her if she wanted to purchase the home before it was sold to a greedy investor. I also wonder if the home was ever updated in those 22yrs.. smh
I am thankful that my country has rent control for all kinds of housing even private. My rent went up by 1,8% this year after two years of no increase. These poor folks
That’s not a good thing that means your country doesn’t have freedom if I own a building it decides to run it out it’s my God given right to rent it for whatever price I want to because it’s my property if somebody tells me what I can and can’t do with something I own is it really mine
If you take your time and find someone good it can be a very good experience. Not to mention the extra income. If you’re not in a rush you can take your time and find a good tenant.
Don't ever rent out your room, the chance of finding a good quality tenants is very low, especially for room rent. You'll most likely end up with a parasite 🪱 who will stop paying rent in the first month and you can't kick said parasite out bc the law is on their side. You'll just be asking for trouble.
@@jerrymylove1754 totally agree with you, I have two friends renting out rooms, both are are going through a never ending nightmare, costing my friends thousands of dollars for lawyers and paper work. The pandemic made things horrible for landlords, I have a big empty house in very expensive Northern California with many rooms empty, I might sell and buy a two bedroom condo and live alone, just waiting to retire in a few years.
That was the intention have people sell, then raise the price of rent; new home owners are going to be slaves to their jobs to keep up with mortgage or risk losing their homes and being thrown into the inflated rental market. It's a all a racket my friend. Everybody is getting played on both sides.
@@trainsandlocomotives It's disturbing knowing that the majority of the population doesn't see it that way. Absolute freedom in the U.S is an idea and not a reality. The only thing separating the common man from a slave is glamor.
My husband and I bought our home in 1988, paid it off and are very thankful . We struggled but paying our home off was a priority. The majority of people live from paycheck to paycheck, wake up people!!
I normally side with tenants regarding the housing crisis, but lets be honest here. 1700 for a home in Coral Gables? I have family in South Florida. That is a highly desirable area. She was getting below average rent for a home. Its also not smart, in my opinion, to rent for 22 years. If you are renting that long, you should have built up other assets then. Home ownership is not for everybody, but at least buy stocks or start a side business. She was getting cheap rent for 22 years! You should have prepared better. Sorry, but I can't fully sympathize with this one. This lady didn't think ahead. With all being said, Florida is still in a mess right now.
@@naudianeels1328 this is not about being perfect. Come on, its been 22 years!! I have never heard of such cheap in that town for a 3 bedroom. Ever. If she just moved in and they raised that high, thats one thing. But its been too long. When your rent is that cheap, you have way more wiggle room than other people do. You can save more. I pity the Tampa and South Florida residents with skyrocketing rents out of no where. Not someone who has been enjoying unusually cheap rent and had no backup plan for 2 decades. Come on.
@@Shazzyhtown 100% agreed with you. You worded it better than I ever could! She had 20 YEARS to save to buy something and was enjoying 20 years of cheap rent and never thought ahead into the future. Did she think her rent was going to be the same for the rest of her life? While gas, foods, and home insurance, and everything else goes up? This lady had 20 years to prepare and save for her own home but she didn't. So it's not the new landlords fault. New landlord is just raising the 3b/2b to new market rate. Florida home insurance is crazy high right now but I bet this renter didn't care cause she's not paying for it.
From 1700$ to 3500$ a month? That's the robbery, but again, this is landlord's house he can do what he wants as someone with more cash showes up and rent goes to highest bidder.
Not everyone thinks homeownership is amazing (some people talked about life being easier, better etc when they rented vs now owning a home). The stress of a bank taking your home if you can’t pay the mortgage vs simply moving elsewhere (no investment lost).
Dumbest comment I’ve heard. How about the stress if you miss a rent payment? Or how about how nice it feels to get equity in your home? Pay off your home? If you do have a hiccup in finances and you’ve paid mostly on time the bank will let you do a deferral and move that payment to the end of the loan so you can catch up. Can’t do that with rent.
Just like it wasn’t the renters problem when the cdc said they didn’t have to pay right? Landlords lost 2 years of income and that’s ok right? Now these are the consequences. I love it. Pay up, since landlords were forced to house everyone and not have their business, it’s time to make up losses. No other business in this nation was forced to operate without paying. They shut down, but landlords were forced to take 2 years of losses, even though many could be paid and didn’t. Now you see result. You did it to yourselves.
@@dcg590 I so agree. People took advantage of the moratorium and didn’t pay rent even though they could and stuck their middle finger out to their landlords because they could. No help and no assistance for landlords why should we have to keep supporting tenants? We have our own homes and families to support.
@@dcg590 I have paid my rent on time every month. My rent has now gone up because other people didnt pay. Not everyone didnt pay rent but everyone gets to suffer because of those who didnt. Landlords are greedy and should punish the ones not paying not the onres who did
My mortgage doesn't go up until I refinance. The fact that they raise rent because "that's the market value in the neighborhood" should be completely illegal.
Something has to be done about this! These rents are an abomination! Any chance of passing a bill into law to start building safe, clean, & child/senior friendly communes without greedy investors/developers. I'm not talking about reverting to a hippie type Woodstock but a place for law-abiding citizens to live.🙏❤️🕊️
I live in broward county ( Hallandale beach ) my entire life and I must say rent was getting toooo expensive to the point I and my family had to move to central Florida to find affordable housing. Currently mom was able to buy a house here in Kissimmee 5x cheaper than any apartment in broward county.
$1700 a month would get you a 30Yr mortgage on a VERY nice home here in La, MS, Al. TN, etc. Time for the renters to move to other states and into home ownership instead of renting something you will never own.
@@markbajek2541 Replace a roof every 30 years, HVAC every 20 years, you save up for those. I saved $15. a paycheck for 20 years for my new HVAC which I just replaced, it was painless to pay if you prepare for it. You pay for ALL those expenses if you rent anyway, It's not a big deal.
How dumb are you? You think someone can just leave their decent paying job and find another in another state. Just like that snap your fingers and it’s done. Keep your stupid bad advice and judgement to yourself.
I have watched people lose everything that they have because the had to keave because of rent going up, something needs to be done with these greedy land lords.
In the EU there are caps on legal rental contracts. There are still raises, under the disguise of indexation and secret expense costs, it's not a perfect system but you can't double rent overnight.
I am hoping that her son and/or member(s) of her community have stepped up to help her transition into a more affordable apartment or house. She enjoyed a long run of housing stability.
The problem is it sold. For $1 million it has to bring in x $ per month for taxes And interest and $1700 ain’t it . The last person probably paid nothing for it and was happy with $3400 a month total.
At 1700 a month and the expenses of million dollar home, it would be under a 1% return on investment. If the new owner has a mortgage on it, " forgettaboutit" he would be digging in his pocket to have someone live there.
@@confusedcynic9073 your comment assumes the landlord doesn't own the property and two didn't buy the property decades ago at much lower than a million dollars...
I do sympathize with her but why rent for 20 yrs she has had a lot of time to purchase a home somewhere in south Florida when home prices were reasonable.
For that area $3,500 is fair. She should be very grateful to her old landlord. It seems like the old landlord knew she would contact the newspaper if they raised her rent. So they just took the L and sold the place.
You wrong! There is a company thats buying up florida a conglomerate if you please. Name EVAN where i live in Hollywood they buying up everything. I have right behind me where they gave the tenants 1 month to leave. The house is boarded up. 2 blocks over they purchase an apartment kick everybody out. It too is boarded up. Word is they kicking everbody out to build condos. I can send you da pics if you dont believe me. No drugs sold around here nor section 8
@@ashackerford The home doesn't matter. location is literally everything in real estate. The property tax and insurance alone for said home in the video is probably 1500$ a month. Should landlords just rent property at a loss?
@@autobotdiva9268 FHA only requires 3% down-payment and there are some programs that even give you the down-payment money for free. At $3,750 a month she's making $42,000 a year and could qualify for a $200,000.00 loan (depending on the debts she has on her credit) Her lack of financial planning is on her. Sorry.
I hope she has money aside. Renting should be a short term goal. What florida is going though is what San franciso has been dealing with before with pandemic.
Come on people everybody was not blessed like you and others that have to rent for so long no one knows what these people have been through and why they are renters for so Long you people need to be mindful of other people situations b4 the good lord suffers for things to happen to those who are fortunate to own there own homes grief can hit you too so we all have to be humble for what you have .
Not everyone wants to own a home. I rented for almost 20 years, ages 21 to 40 and then I bought a home and I hate being a home owner. It just does not feel like it fits my lifestyle. I could have afforded a home much sooner than 40 but I truly never wanted one. Now I am almost 42 and I would love to sell so I can move around and explore more. My home is overpriced and my neighborhood literally burned down and I have gotten some really trashy neighbors all in the span of 10 months. Don't ever judge someone for renting, I was a lot happier and had a lot more money when I rented.
If you rent please go to Mexico and cross the border as a refugee. You would be given a free phone and transportation to where ever you want, free also. A big plus is if done right, must have a child you can pick up on the way, and jump to the head of the line. Food, medical, housing FREE! This is what the current administration thinks of 22 years of hard work and good credit gets you.
That’s how it is in Oklahoma my rent went up but at least they gave me notice but it went from 860 to 960 so I feel fortunate we are drowning I paid my car off with a loan if I need to live in my car I have a full time job I work every day I am 60 so I understand at least I have a car to live in pretty sad at my age never been evicted we are seeing a new wave of working homeless
22 years renting?!? She's lived in one of the cheapest states to purchase for two decades and she did take advantage. In 2010 she could have purchased a house in her area and would have had a fixed mortgage. Her mortgage would have been $1700 for a home at 300K back then. And there were all these down payment programs offered after the 2008 financial crisis. WHY DIDN'T SHE PURCHASE!!
Someone educate me 🤦🏾 I never understood where all the money rent goes.... I was paying 1300 a month. when something broke they would never fix it ... I had to beg them or fix it myself.
This same thing has been happening in the commercial real estate market for years. Look how many staple boutique shops and restaurants were driven out of Lincoln Road and Coconut Grove, among other areas.
@@reenh462 I see now there’s more inventory but the prices are still very high. Hopefully you can get something in your area. Where I’m (OC,CA) anything under $900k, people are still overbidding
Sorry to tell u this, but the politicians don't care about us or this high rent problem. This is not a black, white,democrat,Republican problem,it's an American problem. While america is talking about Dwayne Wade and Trump being indicated. They are throwing asses out in the streets by records numbers. Use that energy to call your lazy politicians and discuss something that affect your personal life.
There should be laws against this. We have rent control in Seattle. For goodness sake, we are all in this together, people. Stop talking advantage of others. Stop being greedy. I’m sure the rent has been cheap because she’s been in it for 22 years But you can’t raise rent overnight that high! It should take time,
@@IndentureTrustee I think we need to stop putting bandaids on problems and deal with the trauma that gets people to ‘tap out’ of society. More rehabs, more mental health assistance. More knowledge on financial issues.
House in coral gables for 3500 still good price , in past 2 years for every apartment in good area goes double, and it's get double just in one moment it's was growing up each month. You can rent in downtown 1 bed apartment for 4k and that will be not best apartments just regular apartments.
To be fair $3500 for that area for a 3 bedroom home is still pretty fair. I wish it wasn’t that price but I’m just saying compared to other areas near that price range for a two bedroom or $2k for a 1 bedroom, it’s still pretty fair. The only thing is the landlord could’ve at least given her like 2-3 months to have a proper fighting chance. It’s not like he won’t be able to rent it for the $3.5k price or more then, he will but to say take it or get out in like less than a month is kinda a dick move.
@@iluvutube4886 oh for sure it’s because of people from NY and California. I work for hospitality and you see the surge of them. It’s great in a sense that you can charge more etc but of course you take the bad too which is sadly that everything is also increasing.
@@dcg590 of course the landlord can do what they want just like any dictator if they want to be an ass to a lady that's been renting for a long time. There must be a reason your answer is the way it is hmmm let me guess you don't rent.
@@dcg590 even if I had property for rent i wouldn't screw people over. When people have power they want to abuse others that don't have not every family has a good spoon in there mouth or a silver or bronze. Some just barley break even.
@@Key_low_TV well, didn’t the landlord have to house everyone for two for free? Time for the consequences of the forced losses. And btw- most landlords have had to work extra hard to acquire their 1 to 2 properties to supplement their income and for retirement. And still work. So the silver spoon thing is bs. Also, it’s a business for profit. Period like any other
Maybe this news media should be reporting on sky high home prices along with rocketing insurance, maintenance and property taxes. My condo was doing the roofs but because of the prices of materials they had to stop.
And where are the authorities? Where is the protection for middle class? We have to follow all kinds of rules and pay taxes! but when we lost the right to have a homefor our families?
What authorities? She doesn’t own the house, someone else does. How is that the authority’s or landlords problem? You don’t have a ‘right’ to anyone else’s house. Earn a home and stop being entitled.
It is the governor’s fault, he allowed that to happen. This is going to throw many families into a deep crisis because not only prices are going to the sky but also because there’s no places.
It's not a Florida problem. It is happening in the whole country. California is even worse. It's our president and his administration that is causing this. Instead of using the TRILLIONS OF dollars that they got for the so-called relief fund that they were supposed to help Americans with. They haven't done a thing for our country. NOT ONE THING...
He didn't allow anything. The mayor of Miami Beach has recently put a law in place about this. It is up to the individual towns/cities to make rules about rent control. GREED did this and will continue to do so. If you think any of these corporations who own these complexes and buildings give a sh*t about you or if you can afford to live you are sadly mistaken.
She was living in a smoking hot deal, this investor is just raising her rent back to market rates. Unfortunate she was stuck in this situation but property ain't cheap nowadays. I have friends and family in Doral living is 2/1s and minimum they can find is for $2500 per month. $3500 in that area for a 3/2 is fair and reasonable.
Honestly im completely in shock that she was paying less than 2k for a 3/2 in coral gables that is just unheard of. She was very lucky for a very long time
Regardless where is the empathy here. The landlord could have just raised her rate each year a little bit at a time but not Shock her all at once. How would you like it if you're on a fixed income and somebody did that to you. Being that she has been a tenant for over 20 years tells a lot that she was paying on time and responsible would that be better than somebody who was a horrible tenant? We are supposed to be here to help each other on this Earth not try to be greedy with money because we all know how that ends and the Lord will have the last answer on it.
So if there is a new landlord it’s safe to assume that the new landlord paid more for the property than the last landlord . The new landlord almost certainly has higher expenses . We are all dealing with inflation, landlords have same issues as everyone else..
I'm sure they will raise it again on someone else renting it...must feel confident in renting to someone. Wonder if they're still that confident?! Glad this was on the news. It's messed up raising rent like that. Might as well just kick the tenants out to begin with. What goes up must come down Mr landlord!
Home ownership is the only solution. Employers should be made to pay for housing costs in the future? Because this system of paying rent is seemingly archaic and primitive. It’s time for real change. A lot of homelessness and a lot of greed!
I live in Miami and have had tenants for more than 10 years in several properties. I rather stick with good tenants than boosting the rent.
So very true Tito! I make way below rental rate for my tenants and they have all been very very grateful, all it takes is realizing a steady small stream is better than an occasional gush of income
And while I agree with you (I was well below market value for the condo i rented out for 10 years before selling it last year), the issue in this case is the building was sold and the new owner paid over $1m for it. It’s pretty simple math to figure out that the rental price per unit was going to increase. Hell, just assuming that building has 4 units at $3500 a month, not including property taxes and insurance, any other repairs or maintenance items or even the interest on their loan, the breakeven point would be around 6 years. So the actual would likely be closer to 10 years. To get back your initial investment… this honestly isn’t a great deal for an investor to begin with if you’ve gotta wait 10 years just to begin hitting the black ink.
Please buy more properties to rent below market. Not many nice guys left.
Thank you Bob! Not looking very possible right now because the prices are astronomical, but I’m confident the market will self correct
Thank you 🙏 we need more people like you
That house sold for a million dollars?! That's the problem right there, people are buying houses that are no where near worth the price tag and passing their stupidity on to tenants🤦🏾♀️
Supply vs demand. Not enough supply
Sometimes the buyer is "absent". He hasn't visited the house to see what condition it's in or talk to the renter.
@@twdjt6245 Yeah supply was artificially because the pandemic created programs like Foreclosure forbearance and eviction prohibition. That is how supply was artificially created. Lets be honest
If it sold for $1million that means it most likely appraised for that or near that amount. People need to start buying the homes they live in so we can eradicate this issue. Everything goes up and it was a matter of time before people saw the value in Miami and the surrounding neighborhoods.
@@twdjt6245 - Relative to too much demand ... from importing the 3rd world every single day
I was renting a condo in Oakland, California for 2012-2015. A Chinese business owner bought it to park some of his cash, increased my rent from $1600 a month to $4400 a month, effectively evicting me. The condo is vacant to this day. Investors making housing unaffordable is nothing new.
Yep, I've heard of foreigners/Chinese doing this all...this happened to London/Hawaii back in the day, making impossible for locals to live there....
Yes, if they have rental income it can upset the books, for some wealthy people it's better to have a loss of income.
Let him lose money some other way that doesn’t involve a human life or a family then. This is ridiculous.
easy cash grab ....go van life , free rent lol
That’s illegal. California has a law that rent cannot increase more than 5%
Prayers for everyone dealing with this. Life is getting REAL🙏🏿
Life has always been real. Some are only just now taking it seriously.
@@ThisIsWar_B1_FBA_ADOS it has. However I was speaking in terms of the way things are going now. It hasn't always been this way. Have an awesome day!
@@tyreefking8815 I understand and I’m speaking to this video. Any person paying attention could see this coming decades ago. She’s renting there for over 20 years. She should’ve been planned her next move.
I sued mine and won. 😊
let me tell you what won't help..."prayers". duh. doing the least I see.
I could not imagine renting one home long enough to have paid off two. That being said, there are a variety of reasons why people don’t/won’t/can’t buy. I am an owner and my property more than doubled in value since 2019. It is a money grab for these corporations that are leaving good tenants homeless. This is sad 😢
What is sad is that for 22 years....she never bought a house! Who rents for 22 years?
I brought in 2017 and I saw the writing on the wall
@@robinrynearson7212
Exactly! I have no idea what would make a person think that is a good idea🤷♀️. I am at a loss, seems terribly irresponsible and unreasonable to me.
@@robinrynearson7212 Someone who can't afford to buy. DUH
@@robinrynearson7212 actually, quite a few people rent for many years, especially in POC communities where we generally are either denied home loans, or are given such ridiculous offers and rates to pay, it's pretty much impossible to afford. Sub prime loans are the main loans that are offered to us in POC/low income communities. These loans are quite literally scams designed for you to not be able to afford the payments at some point, and are almost guaranteed to end in foreclosure. And that's assuming you even get approved for that. My parents are in there late 50s, and have never owned a home, even though they have applied many times for loans through the VA, since they are both veterans. Even more sad is the fact that both of their mothers are single moms (now in their 80s) whom never owned a home, and even my great-grandmother, who passed away 7 years ago in her 90s, never owned a home her whole life. She lived in an apartment for the last 20 years of her life, paying rent. It's amazing what they put you through in America when you don't come from a background of privilege or generational wealth. It's just been a harsh reality.
How is the landlord going to get someone in there to pay that amount of money? The place looks totally outdated!! And who's gonna make three times the amount of rent? 80% of renters do not make that kind of money!! All I can say is karma for all these landlords that are doing this to people.
I thought the same thing. The new renters would have to mske at least $11,000 a month to qualify!!!
Thank you! The place hasn’t been worked on for years, probably doesn’t have a dishwasher. Seems that they just wanted to get rid of her
If you know the are or Miami, you would know anything less than 3k a month even for an outdated duplex is a deal.
@@sharynkoren2054 The average household income in Coral Gables is 110k, there are plenty of people who can and will rent this home of 3500.
He was probably a buyer from out of state, who never looked at the house, never visited it. Just bought it outright.
Rents are rising from 30% to 100% but salaries have remained the same. I don't believe that there are that many out of towners moving to Florida to sustain the rental markets so I definitely see a bubble popping in the forecast.
It is so sad. Inflation is the worst it’s been that I can remember in my lifetime and I’m an old guy. Whatever, don’t blame the people who voted for Trump. Joe did this, and you can’t blame it on Putin
TBH I am nervous we really see a French Revolution 2.0 because the working class has been pushed to its breaking point over the last couple of years. God help US, if we start to see the signs of a famine in this country. Elderly on fixed incomes, young people just starting out with limited means, single working class parents, all of them are struggling horribly right now. I'm lucky to make enough to survive but everything costs so much all at once: homes, food, furniture, cars, etc. At this rate I expect to start seeing organized gangs loot grocery stores and take over luxury developments (look into Tower of David in Venezuela). Tell me what good is all the money in the world if there is no where to enjoy spending any of it because greed has made it so those who work in skilled trades (auto mechanics, bakers, chefs, nurses, teachers) can no longer afford to live in the society greed created?
The bubble will pop ,just like around 2007.
@@arcris1 A thousand thumbs up.
they'll get their just desserts, it just sucks that we have to suffer before they do
A friend of mine has been renting a ROOM for 7 years for 450 USD a months. It is not an apartment. It is a ROOM, now the landlord charges him 700 USD for the same room. I think I am moving to live in the forest.
Van nuys California, $800 to sleep in a sofa and access to the kitchen and bathroom
Humourous
I’m renting a room for $810 a month. (Yep, a room, not a studio, a room in a shared house.)
In Santa Barbara $800 a month is for a SHARED bedroom. With another renter.
22 years of paying rent in the same place? Wtf...
$1,700 for 22 years....................So 22 years ago the rent was $1,700? Hum?
I rent an apartment for 15 years because I couldn’t afford to buy and at the first chance I got I bought in a house in March 2020 and I am extremely happy I did. Can’t believe where I would have been if I didn’t buy.
Right-why didn't she just buy a small house back in the day??
@@elmobolan4274 Most people don't have $200 in their bank accounts never mind $20K for a down payment you bad faith debater!
@@stickynorth um, we bought our house in 2009, we had no dwn payment, we even asked the seller to do some improvements before we closed, and they did...
There’s only one reason why a landlord would raise the rent by that much: they want that tenant out.
It looks as though they landlord isn’t providing any improvements to the property, either. No new tenant’s going to pay $3500 a month for that place. They’ll probably lose a bunch of money while it sits vacant. Also, it makes them look like an a-hole. It’s just bad business. Just because they can, doesn’t mean they should.
Oorrrr. They didn’t pay for a couple years and could’ve but didn’t and now the landlord needs to make up losses.
@@dcg590 it's a new landlord, they just bought her building for $1M barely two months ago. They're not recouping anything from her, they just want an extra $20k in cash flow from a wealthier tenant
It would be crazy to make improvements in the property till she's out.
All this high rent just causing some or many to move out of area or to leave the state cause now costing too much to live in some states now a days.
It could be other reasons. They might want to renovate. They might want to recoup some of the money they spent. It does not make them look like an ahole. The lady knew the place was up for sale months ago. The new owners might have wanted to move in and that still might be also the reason. They said she only has a few weeks so she going to force the landlord to evict. She had all these years to save and buy a house before the year 2020. But she did not. It's his business and it's not really yours or mine to comment on.
What is going on in these destination areas like Florida, California, New York, are pushing the price up to live there to push out lower, and middle class. They are making America's most beautiful places unattainable for anyone who isn't super rich. These places should be for everyone.
I live in Hollywood Fla. They raised my rent 50 percent. What they are doing. Even a big company is buying up my neighborhood and kicking everybody out who can't pay. So i agree with you totally.
NOBODY will do anything about it. The poor need to either PAY, MOVE, OR PLEASE DIE
@@benvarela4472 the rich may own everything but the poor run it. That is who the essential workers are. Mostly poor. Essentially slavery on a much larger scale, with a couple human rights laws thrown in.
@@fantastictoad8853 The rich couldn't care less. They poop & piss on the poor looking down on them with a smile & a noose/whip
I'm from Ohio and I don't think the new rents are that bad. Usually around $1000 per room is normal
I moved out of my Bradenton apartment in September when they raised the rent 11% to about $1200. It is now on the market at $1658. This can't continue.
Should’ve stayed!
Im surprised and feel very blessed that I was able to secure my 700sq ft apartment in saint pete for $1150 a month.
@@raygraham1570 Save money for next year.
@@nickymatthews2465 uh oh
A buddy of mine has been paying $1,100 for his apt in Ft. Lauderdale that he's lived in for 6 or 7 years. A few days ago his landlord sent him a notice saying his rent as of June 1st will be $3,750. He told the landlord that's fine with him and he'll be out at the of the month with all of his things ( a/c units washer/dryer range and fridge ) he bought all that stuff while he was living there.
She should have saved extra money in those 22 years and bought a home. Never get comfortable renting from people. These landlords only care about money its time for the government to stop landlords from raising the rent sky high
It appears as though she was paying below market for several years. She should be satisfied that she got away with that for so long. I understand her surprise, but the new landlord probably paid top dollar for that home. The old landlord could afford to keep rent low because they bought the home decades ago for tens of thousands of dollars. This new landlord probably paid over $600k for that home. He has to be able to pay his mortgage and expenses. The onus is on the renter to make sure they can afford the neighborhood they live in, even after the home they are renting changed ownership.
We don't know her history, do you?
Renting and owning property is a business. Got it? A business. If a different business owner you knew could make more money you’d say, that’s great, but for some reason you think landlords shouldn’t be able to. Why not?
The judgement here when you don’t know her situation. Best to keep your judgement to yourself. No one has any empathy for anyone anymore. Pathetic!
While that might be a good idea for her to save money those twenty-two years you may not understand that some people's paychecks are not excessive. Not even a penny extra after paying all the bills and don't even have any cable internet or any extras of anything. I know I don't even have money for vacation any year. Some of us are not as blessed as others with money. We still feel grateful for what we have though and thank God everyday.
Investment firms buying property raise rents equals bigger dividends for shareholders. It’s really quite sad that this continues this way.
And it WON'T Change at all, and suckers will continue to pay it too
One thing you failed to recognize is that business is business. We go into business to earn money. Investment firms or individual investors are having to pay incredible prices for housing in today’s market.
Who do you think they are
Regular people who bought one and built it into a company and now they don’t care they in it for the money
The company is a front for the individual running it not to see the blame
@@arcris1 your business won't be successful without money from the consumer.
Eventually you won’t find tenants to rent out houses… then what?
I can't imagine paying someone rent for 22 years. She paid off their mortgage. She should have bought it 22 years ago. Rent is only good if your living somewhere short term but much better to own if planning to stick around. Land will always rise in price over time, population is rising and no more land being made. This will always be the case. Even more so with climate change and more land becoming uninhabitable with fire, flood, and drought.
I’m so happy I don’t rent....I feel bad for so many who are being evicted. This is horrible. I work in home care and I’m worried bout one of my clients whose 70 years old and might be loosing her apartment cause landlord wants to sell the apartment building. Plus there’s a woman who lives above her who has cancer and caring for her two young grandkids.
Kameron...BUT THESE investment companies buying up properties and increasing the rent and mortgages!...Also, even with home buyers or owners, the insurances, property taxes, maintainence, repairs, water, utilities, are also increasing!...THE foreclosures of homes are now about 30 to 40 percent, and not to mention imminent domain looming!..
My house is paid off so my average monthly cost for taxes/insurance is about $400. I can expect raises in the years to come but nothing like the arbitrary doubling or tripling of rent.
I'm in Phoenix my taxes/insurance is $107. a month. We have great property taxes here....so far.
Give it another decade of democrats running your state then come tell me how low your property taxes are.
US government made the rental market worst during covid when they pass the eviction moratorium . It just make landlord across America 🇺🇸 angry and they end up raising the rents. What they should have done was pay the landlord for renters . Big mistakes and families are suffering now . 😢
Wow… I pray I get a tenant to rent my house forever. I’d rather that then revolving tenants. That’s messed up.
I have 5 rental properties and only rent to retired professionals that have a nest egg, history of good work ethics and good Social Security income. My tenants live with me till they die or move to a nursing home. I take my tenants to the grocery store every week. We've become like family.
@@eckankar7756 if only there were more people like you.
Many landlords in south Florida are encumbered themselves with mortgage taxes insurance & hoa fees and assessments. The only way they can squeeze income out of their properties is to keep the rent sky high.
She could have paid off her own home in 24 years how sad
Exactly. Who the hell rents a place for 24 years?? SMH
@@santo8389 not everyone is lucky enough to be able to afford a house…
In 10 years I went from working minimum wage in a warehouse to going to college and then buying my own house.
@Lindy T Dear you are talking about 2022?
This woman moved into the rented house 24 years ago in 1998?
How was property prices at that time?
Maybe she didn't want to buy or can't buy. If some people want to buy they don't have to.
Miami is turning into San Francisco. It’s already too late to actually. Miami is gonna soulless place.
Without the salaries
Miami will lose the Cuban population
So here's the thing. Over 10 years ago I considered taking a job in coral gables.. But then I looked at the rents.. Back then rent was 2000+ for one bedrooms .. She's lucky to have found a 3 bdrm for that amount and the new landlord knows he can command way more than even 3500 a month for a 3 bdrm.. Hard to sympathize with her. 22 freaking years. She has to make very decent money and have excellent credit to even live there.. She could have bought two houses for what she paid in rent.
Rather condescending of you to blame her rather than sympathize that she is losing her home and uprooting her life.
She makes 62k, just read the article. Parents would rather live in a rich area with good schools than to live in cheaper areas with long commutes and poor services. Did she get a good deal? Yeah.
But look at the place, it’s all Formica furniture, probably doesn’t even have a dishwasher. No way someone paying that much for it. They just wanted to get rid of her
Exactly she makes more than the people in need to me she used it to spend it all others only make 24,000 she is well off to the point she don’t need the help must of saved a lot
@@resuteru502 She IS NOT losing her home, she IS paying the price for not making a sound financial decision and purchasing. Why is someone supposed to sympathize with ignorance? No excuse-no one owes her any consideration for absurd behavior. She did not have a home to lose!
@@msmichelej amen. It’s always a sob story for the tenants but not the landlords forced to take losses over the last 2 years. Welcome to the consequences
Thats a hot area for all who don't know. 3500 hundred is what's expected. 1700 you can't even get a one bedroom in that area for that. Trusts me the one bedroom apartments are going for 2400 there.
My question is, did you find her a new place within her budget that she can realistically commute to work from?
This is not a housing crisis. It's a landlord greed crisis.
They keep voting for politicians that would never allow rent regulations in the state.
Because thats Unconstitutional. Taking.
Wonder why her previous landlord didn't ask her if she wanted to purchase the home before it was sold to a greedy investor. I also wonder if the home was ever updated in those 22yrs.. smh
One reason........GREED!
It was up for sale she knew it and could have bought it if she could afford it.
She can't afford the mortgage payment on a house that expensive now
@@iluvutube4886 nope.
I am thankful that my country has rent control for all kinds of housing even private. My rent went up by 1,8% this year after two years of no increase. These poor folks
That’s not a good thing that means your country doesn’t have freedom if I own a building it decides to run it out it’s my God given right to rent it for whatever price I want to because it’s my property if somebody tells me what I can and can’t do with something I own is it really mine
Thankful I don’t live there. I like my freedom!
I have empty bedrooms in my house, I would never rent to anyone even if I need the money, so many scammers and rent free parasites
If you take your time and find someone good it can be a very good experience. Not to mention the extra income. If you’re not in a rush you can take your time and find a good tenant.
You sound like a fun person.
Don't ever rent out your room, the chance of finding a good quality tenants is very low, especially for room rent. You'll most likely end up with a parasite 🪱 who will stop paying rent in the first month and you can't kick said parasite out bc the law is on their side.
You'll just be asking for trouble.
@@jerrymylove1754 totally agree with you, I have two friends renting out rooms, both are are going through a never ending nightmare, costing my friends thousands of dollars for lawyers and paper work. The pandemic made things horrible for landlords, I have a big empty house in very expensive Northern California with many rooms empty, I might sell and buy a two bedroom condo and live alone, just waiting to retire in a few years.
Every where that I rented the landlords hated to see me go.
It happened to me in oregon.. new owners of my duplex doubled my rent overnight.. 895$ to 1795$ I'm living in a trailer anywhere I can..
All the people who sold their homes & decided to rent are paying for it now big time!
That was the intention have people sell, then raise the price of rent; new home owners are going to be slaves to their jobs to keep up with mortgage or risk losing their homes and being thrown into the inflated rental market. It's a all a racket my friend. Everybody is getting played on both sides.
@@TooPoetik88 - damn straight 👍🏻
Heed some parts of conspiracies because there is always a smidgen of truth in them
@@TooPoetik88 was just talking about this. Business owners benefit from all this because it provides a guaranteed worker
@@trainsandlocomotives It's disturbing knowing that the majority of the population doesn't see it that way. Absolute freedom in the U.S is an idea and not a reality. The only thing separating the common man from a slave is glamor.
My husband and I bought our home in 1988, paid it off and are very thankful . We struggled but paying our home off was a priority. The majority of people live from paycheck to paycheck, wake up people!!
I normally side with tenants regarding the housing crisis, but lets be honest here. 1700 for a home in Coral Gables? I have family in South Florida. That is a highly desirable area. She was getting below average rent for a home. Its also not smart, in my opinion, to rent for 22 years. If you are renting that long, you should have built up other assets then. Home ownership is not for everybody, but at least buy stocks or start a side business. She was getting cheap rent for 22 years! You should have prepared better. Sorry, but I can't fully sympathize with this one. This lady didn't think ahead.
With all being said, Florida is still in a mess right now.
I agree 100% with you.
Well said
Well I guess you're just perfect..🙄🙄🙄
@@naudianeels1328 this is not about being perfect. Come on, its been 22 years!! I have never heard of such cheap in that town for a 3 bedroom. Ever. If she just moved in and they raised that high, thats one thing. But its been too long. When your rent is that cheap, you have way more wiggle room than other people do. You can save more. I pity the Tampa and South Florida residents with skyrocketing rents out of no where. Not someone who has been enjoying unusually cheap rent and had no backup plan for 2 decades. Come on.
@@Shazzyhtown
100% agreed with you.
You worded it better than I ever could!
She had 20 YEARS to save to buy something and was enjoying 20 years of cheap rent and never thought ahead into the future. Did she think her rent was going to be the same for the rest of her life? While gas, foods, and home insurance, and everything else goes up?
This lady had 20 years to prepare and save for her own home but she didn't. So it's not the new landlords fault. New landlord is just raising the 3b/2b to new market rate. Florida home insurance is crazy high right now but I bet this renter didn't care cause she's not paying for it.
From 1700$ to 3500$ a month? That's the robbery, but again, this is landlord's house he can do what he wants as someone with more cash showes up and rent goes to highest bidder.
Not everyone thinks homeownership is amazing (some people talked about life being easier, better etc when they rented vs now owning a home). The stress of a bank taking your home if you can’t pay the mortgage vs simply moving elsewhere (no investment lost).
The NWO you won’t qualify to rent
Until u cannot find cheap rentals & your credit lacks.
Dumbest comment I’ve heard. How about the stress if you miss a rent payment? Or how about how nice it feels to get equity in your home? Pay off your home? If you do have a hiccup in finances and you’ve paid mostly on time the bank will let you do a deferral and move that payment to the end of the loan so you can catch up. Can’t do that with rent.
I feel exactly the same way, renting is the lesser of the two evils unless you're making over 100k.
The government needs to step in and do something with landlords about the greed they're commuting
I hope both the units sit there unrented for a good long while and he has to pay them both out of his own pocket. She can tell him its not her problem
Just like it wasn’t the renters problem when the cdc said they didn’t have to pay right? Landlords lost 2 years of income and that’s ok right? Now these are the consequences. I love it. Pay up, since landlords were forced to house everyone and not have their business, it’s time to make up losses. No other business in this nation was forced to operate without paying. They shut down, but landlords were forced to take 2 years of losses, even though many could be paid and didn’t. Now you see result. You did it to yourselves.
Why would you wish that on the landlord?
@@dcg590 I so agree. People took advantage of the moratorium and didn’t pay rent even though they could and stuck their middle finger out to their landlords because they could. No help and no assistance for landlords why should we have to keep supporting tenants? We have our own homes and families to support.
@@dcg590 I have paid my rent on time every month. My rent has now gone up because other people didnt pay. Not everyone didnt pay rent but everyone gets to suffer because of those who didnt. Landlords are greedy and should punish the ones not paying not the onres who did
My mortgage doesn't go up until I refinance. The fact that they raise rent because "that's the market value in the neighborhood" should be completely illegal.
Insurance and property tax do go up 🤷🏽♂
people asking for generousity of others instead of saving, planning and working!! ugh! helpless
Actually, the headline is wrong. The rent was doubled, the increase was not doubled. A doubled increase would mean a tripling of rent.
Something has to be done about this! These rents are an abomination! Any chance of passing a bill into law to start building safe, clean, & child/senior friendly communes without greedy investors/developers. I'm not talking about reverting to a hippie type Woodstock but a place for law-abiding citizens to live.🙏❤️🕊️
Government won't deal with tenants. They don't pay and destroy homes.
She has lived there for 22 years. She doesn't have a lease that stays that she can live there forever. Her rent was below market value.
My heart goes out to all in this situation.
I live in broward county ( Hallandale beach ) my entire life and I must say rent was getting toooo expensive to the point I and my family had to move to central Florida to find affordable housing. Currently mom was able to buy a house here in Kissimmee 5x cheaper than any apartment in broward county.
You have a smart mom
@@eckankar7756 🤣 I probably move back over here is awful!
Not everyone with a job to work at has the luxury to just pick up and move to another state or part of their state.
$1700 a month would get you a 30Yr mortgage on a VERY nice home here in La, MS, Al. TN, etc. Time for the renters to move to other states and into home ownership instead of renting something you will never own.
ABSOLUTELY!!!! 22 years ago my house payment in Az was $850. a month.
@@eckankar7756 plus costs to repair roofs , hvac, lawn care, etc.
@@markbajek2541 Replace a roof every 30 years, HVAC every 20 years, you save up for those. I saved $15. a paycheck for 20 years for my new HVAC which I just replaced, it was painless to pay if you prepare for it. You pay for ALL those expenses if you rent anyway, It's not a big deal.
How dumb are you? You think someone can just leave their decent paying job and find another in another state. Just like that snap your fingers and it’s done. Keep your stupid bad advice and judgement to yourself.
What she was paying was ridiculous
The new price is normal for the times, in 22 years she could have saved up a down payment to purchase
wow. she's been renting the same house for 22 years 🤯?!?!?!
I have watched people lose everything that they have because the had to keave because of rent going up, something needs to be done with these greedy land lords.
In the EU there are caps on legal rental contracts. There are still raises, under the disguise of indexation and secret expense costs, it's not a perfect system but you can't double rent overnight.
I am hoping that her son and/or member(s) of her community have stepped up to help her transition into a more affordable apartment or house. She enjoyed a long run of housing stability.
Huh, time to move to Mexico or Louisiana
@@tytemind7850 or better yet a third world country where you can live a decent life on 300 usd a month.
@@captainsunbear5472 - yes 🙌
Florida is not going to have no one living here, no essentials workers at all just business owners.....
The new Cuban immigrants will do it for cheaper.
Exactly
Welcome to money hungry Miami
Its just sad. People are being evicted and placed on the streets and becoming homeless the increased rent they can't afford it's just awful.
The landlords should stop being greedy scumbags.Laws should be made to stop greedy landlords from charging too much.
The problem is it sold. For $1 million it has to bring in x $ per month for taxes And interest and $1700 ain’t it . The last person probably paid nothing for it and was happy with $3400 a month total.
At 1700 a month and the expenses of million dollar home, it would be under a 1% return on investment. If the new owner has a mortgage on it, " forgettaboutit" he would be digging in his pocket to have someone live there.
@@confusedcynic9073 your comment assumes the landlord doesn't own the property and two didn't buy the property decades ago at much lower than a million dollars...
It's business in those 20 years it would have been a good idea to save and buy her own home. These things happen.
@@Revengex19999 It says so clearly...the new landlord paid $1M in May. Pay attention people
I do sympathize with her but why rent for 20 yrs she has had a lot of time to purchase a home somewhere in south Florida when home prices were reasonable.
Because she probably didnt want the responsibility & thats fine as she a single woman
Abuse!!!!
so there's no rent control in all these places where landlords are increasing rents unreasonably?
There shouldn’t be. Ever.
Sadly for a lot of people 😕 eviction moratoriums have consequences.
For that area $3,500 is fair. She should be very grateful to her old landlord.
It seems like the old landlord knew she would contact the newspaper if they raised her rent. So they just took the L and sold the place.
You wrong! There is a company thats buying up florida a conglomerate if you please. Name EVAN where i live in Hollywood they buying up everything. I have right behind me where they gave the tenants 1 month to leave. The house is boarded up. 2 blocks over they purchase an apartment kick everybody out. It too is boarded up. Word is they kicking everbody out to build condos. I can send you da pics if you dont believe me. No drugs sold around here nor section 8
You know it's sad when Americans think $3500 rent is fair on a old home that was probably purchased for $150k to $200k 25yrs ago...lol
@@ashackerford The home doesn't matter. location is literally everything in real estate.
The property tax and insurance alone for said home in the video is probably 1500$ a month. Should landlords just rent property at a loss?
@@BobSmith-mp8ld Hi Bob, I have over 15yrs of experience in mortgage originations. If the home didn't matter appraisers would be out of business.
@@ashackerford "I have over 15yrs of experience in mortgage originations"
Please don't lie.
Ever renter should STOP paying all rent across the board
Then they need to but their own homes. No one has the right to live in someone else's house for free.
Well, that is not her house of 22 years. It's the owner's house, not the renters. Maybe it's time for her to buy her own house...her own real house.
With what? $3750 month
@@autobotdiva9268 FHA only requires 3% down-payment and there are some programs that even give you the down-payment money for free. At $3,750 a month she's making $42,000 a year and could qualify for a $200,000.00 loan (depending on the debts she has on her credit) Her lack of financial planning is on her. Sorry.
@@rebecca6764 difference that makes when homes are already overpriced in America & now double priced 😂😂. Lordt
22 years!!!! She bought the house for him🤦🏾♀️
She was renting for 22years!?
Man 😒😒😒
I hope she has money aside. Renting should be a short term goal. What florida is going though is what San franciso has been dealing with before with pandemic.
Everyone can’t be home owners
Come on people everybody was not blessed like you and others that have to rent for so long no one knows what these people have been through and why they are renters for so Long you people need to be mindful of other people situations b4 the good lord suffers for things to happen to those who are fortunate to own there own homes grief can hit you too so we all have to be humble for what you have .
Not everyone wants to own a home. I rented for almost 20 years, ages 21 to 40 and then I bought a home and I hate being a home owner. It just does not feel like it fits my lifestyle. I could have afforded a home much sooner than 40 but I truly never wanted one. Now I am almost 42 and I would love to sell so I can move around and explore more. My home is overpriced and my neighborhood literally burned down and I have gotten some really trashy neighbors all in the span of 10 months. Don't ever judge someone for renting, I was a lot happier and had a lot more money when I rented.
@@mstyles2667 i think your quality of life would greatly improve if you talk with a fiancial advisor.
This is disgusting and unacceptable.
1700 ! That is soooo cheap for coral gabels …I am not surprise with the increase. It is not her house so that is always the risk 🤷🏻♀️
Yeah $1700 in Coral Gables is a hell of a deal. Landlord prob wasn’t making any profit.
If you rent please go to Mexico and cross the border as a refugee. You would be given a free phone and transportation to where ever you want, free also. A big plus is if done right, must have a child you can pick up on the way, and jump to the head of the line. Food, medical, housing FREE! This is what the current administration thinks of 22 years of hard work and good credit gets you.
And a free White Women.
US Congress gives final approval to $13.6 BILLIONS Ukraine aid bill!!!!!!!!!!!!!!!!!
The rent in south Florida is so high, until the news reporters are having problems paying their rent, and they're reporting the story.
That’s how it is in Oklahoma my rent went up but at least they gave me notice but it went from 860 to 960 so I feel fortunate we are drowning I paid my car off with a loan if I need to live in my car I have a full time job I work every day I am 60 so I understand at least I have a car to live in pretty sad at my age never been evicted we are seeing a new wave of working homeless
22 years renting?!? She's lived in one of the cheapest states to purchase for two decades and she did take advantage. In 2010 she could have purchased a house in her area and would have had a fixed mortgage. Her mortgage would have been $1700 for a home at 300K back then. And there were all these down payment programs offered after the 2008 financial crisis. WHY DIDN'T SHE PURCHASE!!
It’s very unfortunate. It’s not easy to purchase a home if you have the credit, good job but your income sucks.
Guess u need to work 2 jobs or get smarter
@@tytemind7850 I want to be just like you. Thanks
Why didn't she just buy a house the whole 22 years she was renting? But, these landlords are something else.
Someone educate me 🤦🏾 I never understood where all the money rent goes.... I was paying 1300 a month. when something broke they would never fix it ... I had to beg them or fix it myself.
Taxes. Mortgage. Insurance. Profit. Oh and none of your business. Does your boss ask you where your money goes?
@@dcg590 If you can't afford to do basic maintenance maybe you shouldn't own anything.
This same thing has been happening in the commercial real estate market for years. Look how many staple boutique shops and restaurants were driven out of Lincoln Road and Coconut Grove, among other areas.
My landlord just increase the rent too, 10%. This is so stressful.
10 to 20% is normal rent increase due to insurance & increase in taxes. Not too bright I see
@@tytemind7850 last line is y called for. She said stressful, not illegal
Same mine raised it 8%. After this year i need to figure out something i cant keep paying more and more each year.
@@reenh462 I see now there’s more inventory but the prices are still very high. Hopefully you can get something in your area. Where I’m (OC,CA) anything under $900k, people are still overbidding
@@pearla4731 The person must be a landlord.
Sorry to tell u this, but the politicians don't care about us or this high rent problem. This is not a black, white,democrat,Republican problem,it's an American problem. While america is talking about Dwayne Wade and Trump being indicated. They are throwing asses out in the streets by records numbers. Use that energy to call your lazy politicians and discuss something that affect your personal life.
There should be laws against this. We have rent control in Seattle. For goodness sake, we are all in this together, people. Stop talking advantage of others. Stop being greedy. I’m sure the rent has been cheap because she’s been in it for 22 years But you can’t raise rent overnight that high! It should take time,
rent control and yet homelessness increased like five fold
@@IndentureTrustee It's a drug problem
@@Eclipse1369 it's always is once you become homeless, so what's the solution
@@IndentureTrustee I think we need to stop putting bandaids on problems and deal with the trauma that gets people to ‘tap out’ of society. More rehabs, more mental health assistance. More knowledge on financial issues.
House in coral gables for 3500 still good price , in past 2 years for every apartment in good area goes double, and it's get double just in one moment it's was growing up each month. You can rent in downtown 1 bed apartment for 4k and that will be not best apartments just regular apartments.
To be fair $3500 for that area for a 3 bedroom home is still pretty fair. I wish it wasn’t that price but I’m just saying compared to other areas near that price range for a two bedroom or $2k for a 1 bedroom, it’s still pretty fair. The only thing is the landlord could’ve at least given her like 2-3 months to have a proper fighting chance. It’s not like he won’t be able to rent it for the $3.5k price or more then, he will but to say take it or get out in like less than a month is kinda a dick move.
I feel it's because of people from NY moving down here driving the prices up.
@@iluvutube4886 oh for sure it’s because of people from NY and California. I work for hospitality and you see the surge of them. It’s great in a sense that you can charge more etc but of course you take the bad too which is sadly that everything is also increasing.
Renting for 22yrs is insane
They do it so you can't afford it being one person working. So they can put up on air bnb. State law should put a cap on rent 3500 is just rediculous
No that’s communism. It’s not her house. The landlord can do what they want with it.
@@dcg590 of course the landlord can do what they want just like any dictator if they want to be an ass to a lady that's been renting for a long time. There must be a reason your answer is the way it is hmmm let me guess you don't rent.
@@dcg590 even if I had property for rent i wouldn't screw people over. When people have power they want to abuse others that don't have not every family has a good spoon in there mouth or a silver or bronze. Some just barley break even.
Maybe for u & the people u associate with. That’s the new Purge beginning of the NWO. Starvation & extermination
@@Key_low_TV well, didn’t the landlord have to house everyone for two for free? Time for the consequences of the forced losses. And btw- most landlords have had to work extra hard to acquire their 1 to 2 properties to supplement their income and for retirement. And still work. So the silver spoon thing is bs. Also, it’s a business for profit. Period like any other
I have seen that rent goes up after two years in some apartment complex. That is why everyone moves every two years. But now its just crazy
That's what i fid
Maybe this news media should be reporting on sky high home prices along with rocketing insurance, maintenance and property taxes. My condo was doing the roofs but because of the prices of materials they had to stop.
My heart hurts for these people. I am blessed:(
Property taxes in Florida are much to blame for these rent increases!
pfff my home insurance increased from 2800 to 4800 , thus increasing my mortgage by 400 USD monthly. F the small hat people
Hell taxes in Fl are dirt cheap- wakeup sheeple
@@tytemind7850 lol house appraised at 425k, taxes are almost 5k . not that cheap
@@IndentureTrustee - in Chicago that would be $12k tax yearly or higher
@@tytemind7850 crook County, what did u expect
She admitted her rent was below market price, why should the new owner rent for below market when he can get twice as much?
And where are the authorities? Where is the protection for middle class? We have to follow all kinds of rules and pay taxes! but when we lost the right to have a homefor our families?
What authorities? She doesn’t own the house, someone else does. How is that the authority’s or landlords problem? You don’t have a ‘right’ to anyone else’s house. Earn a home and stop being entitled.
@@dcg590 why they permit ESPECULATION?
Sorry, your Governor is too focused with bigger issues. not teaching racism, not teaching gayism, raising property taxes
It is the governor’s fault, he allowed that to happen. This is going to throw many families into a deep crisis because not only prices are going to the sky but also because there’s no places.
It's not a Florida problem. It is happening in the whole country. California is even worse. It's our president and his administration that is causing this. Instead of using the TRILLIONS OF dollars that they got for the so-called relief fund that they were supposed to help Americans with. They haven't done a thing for our country. NOT ONE THING...
More homeless people lord 🙏 help 🙏
He didn't allow anything. The mayor of Miami Beach has recently put a law in place about this. It is up to the individual towns/cities to make rules about rent control. GREED did this and will continue to do so. If you think any of these corporations who own these complexes and buildings give a sh*t about you or if you can afford to live you are sadly mistaken.
@@mstyles2667 yes unfortunately greed doesn't know fear. The last time greed really knew fear was during the French Revolution.
It’s not the Governors fault it’s the lack of economic knowledge that they have fallen victim to.
I’m so sorry 😞
She was living in a smoking hot deal, this investor is just raising her rent back to market rates. Unfortunate she was stuck in this situation but property ain't cheap nowadays. I have friends and family in Doral living is 2/1s and minimum they can find is for $2500 per month. $3500 in that area for a 3/2 is fair and reasonable.
Honestly im completely in shock that she was paying less than 2k for a 3/2 in coral gables that is just unheard of. She was very lucky for a very long time
If you consider the size of the place she's living in 3 bedrooms 2 bath for 3500 per month it's a great deal
Regardless where is the empathy here. The landlord could have just raised her rate each year a little bit at a time but not Shock her all at once. How would you like it if you're on a fixed income and somebody did that to you. Being that she has been a tenant for over 20 years tells a lot that she was paying on time and responsible would that be better than somebody who was a horrible tenant? We are supposed to be here to help each other on this Earth not try to be greedy with money because we all know how that ends and the Lord will have the last answer on it.
Miami will lose the Cuban population with these high rents
When I don't understand why double the rent,i blame her for not buying long time ago
Save your last months rent and pay some degenerate to make your landlord "reconsider" lol
President Biden that 40 billion aid package to Ukraine should go for rental assistance for Americans!
WHERE ARE OUR REPRESENTATIVES? WHERE IS OUR STATE GOVERNMENT , WHY ARE THEY SO QUIET, WHY ARE THEY ALLOWING IT.
They're allowing it bc they are getting it.
Damn Prayers goes out to her & the fam
So if there is a new landlord it’s safe to assume that the new landlord paid more for the property than the last landlord . The new landlord almost certainly has higher expenses . We are all dealing with inflation, landlords have same issues as everyone else..
I'm sure they will raise it again on someone else renting it...must feel confident in renting to someone. Wonder if they're still that confident?! Glad this was on the news. It's messed up raising rent like that. Might as well just kick the tenants out to begin with. What goes up must come down Mr landlord!
Owners have to increase when insurance cost are skyrocketing, owners can’t go backwards. Feel for all these renters
Home ownership is the only solution. Employers should be made to pay for housing costs in the future? Because this system of paying rent is seemingly archaic and primitive. It’s time for real change. A lot of homelessness and a lot of greed!