Renting vs. Owning
Apr. 3rd, 2012 01:27 pmI'm really frustrated with the property management at our apartment complex. They're not horrible, but they're far from good, and they're never available when I need to deal with them.
Yesterday, April 2nd, I received a bill for water usage. $57. Due April 1. Our water is included in our rent...they charge all residents a flat fee, which we're against, since we use way less than most people, but we pay this with our rent every month. And now we're getting a $57 bill (that's already late upon its arrival, apparently). This is just bullshit.
When the new management company took over, we were told our rent would not be going up. And it didn't. What did go up were all the mandatory fees we have to pay (like water) on top of rent. We went from paying something like $33/month for water and sewer to $60/month. That is SOME BULLSHIT. When I owned a 2400 square foot house with six people living in it, our water bill rarely exceeded $30, and that was during a drought when water costs went up in Virginia. Come the fuck on, rental people.
So now in addition to the ricockulous amount we already pay for water we're not using, we allegedly owe even more. And when I went to ask them about this in the office today, they were out to lunch. I got there well before 1, and the sign said "back at 2pm." That's a mighty fine lunch break. They never return phone calls, either. They're just lazy and not helpful and I miss the old managers so much. There should be a clause in all leases that if the property changes ownership or management, you should be able to get out of your lease without penalty. Of course, we wouldn't have moved, because moving is a pain in the ass, and even though the cost went up and the service went down, it's still a nice place to live. There are just unnecessary stresses that drive me nuts.
It's things like this that make me miss owning my home. There are pros and cons, and of course we can't afford to buy a place out here now anyway, so it's all just daydreaming, but for a while, Z had me convinced that renting was better than owning anyway. I'm not so sure anymore.
Renting pros:
Maintenance is not my responsibility. I don't have to pay for replacements or repairs.
I'm not tied down to a place, except by the limited terms of the lease and how much of a pain in the ass it is to move.
Don't have to pay taxes.
Owning pros:
Don't have to deal with property management.
Monthly mortgage won't go up
Only pay for utilities I use.
It's a fairly sound investment.
Renting cons:
Have to work around the management's schedule, often limited availability
Rent and other fees can go up unexpectedly
Parking is a bitch -- either rent a parking space or fight it out for the few available nonreserved spots (seems to be true everywhere in Portland)
Limited rights to make changes to the inside or outside of the property.
Owning cons:
Repairs are my problem, as are their costs
Taxes and HOA fees can go up, though usually fairly predictably and not as sharply as rent tends to do
Committed to one location/monthly payment...
I'm probably leaving some things out in each category, especially since right now I am very annoyed with the whole rental thing. I hope the girl that rents my condo is more satisfied than I have been in my rental experiences. I have not ever rented a home anywhere that I didn't have some gripes with the managers, except for when we were here under the previous managers. But I guess my gripe with them is that they sold it when it was working well, and that kind of screwed over the residents. Sigh.