The larger the mortgage on a building, the higher the rent. Some property owners have no mortgage payments at all, so they can charge lower rents. These are the "good" landlords.
Other property owners have purchased their buildings more recently, paid higher prices and need to collect more money just to cover the monthly debt service payments. These are the "bad" landlords. Here are a few other expenses that influence the amount of rent required to make ends meet: Property taxes (we know these are going up) Insurance (my premiums tripled for next year because of the 9/11 attacks) Bad Debts (the more people who don't pay, the higher the rent is for everyone else) Vacancy costs (these are increasing) Repairs (this varies a lot depending on the age of the building, conduct of the residents) Utilities (water/sewer going up, heating costs went through the roof last year, OK so far this year) If rental housing is such a profitable business, why do we have to pay developers millions of public dollars to build more of it? Vicky Heller St. Paul _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
