Dennis Responds:
Again, and more to the point, I have no doubt that you are both an experienced and professional owner/investor of rental properties in MPLS. However, as someone that works in Jordan, you should know full well that there exists a large percentage of rental property owners (in this neighborhood) that DO NOT operate in the same manner which you do. I'd be more than happy to shuttle you (or any other non-believer) around my neighborhood. The single-family rental units aren't very hard to pick-out. As a matter of fact, I'd be willing to go around with anyone and let them call-out a property and I'll hazard the guess as to whether they're owner-occupied, or rented. Even money. I'll buy dinner (your choice of restaurants) at the end of the day. Over dinner, we'll discuss the need for equal inspections of owner-occupied and investment-occupied dwellings.
Dennis Plante Jordan
Steve Writes:
As one of the experienced rental property owners (35 years), it would not bother me a bit to see ALL properties in Mineapolis inspected for code violations, including home owner occupied properties. That would be the most equitable approach to this problem of substandard housing.
Dennis Plante Responds:
Steve, whereas I currently don't own any rental property and whereas never said it to begin with, I don't think I'm making the statement that I wouldn't bring my rental properties up to code. I in fact live in Jordan and can only attest to what my somewhat trained eye sees. I have no facts or figures to draw from. How about you? Where do you live? What percentage of the TOTAL overall rental property owners are experienced and professional in their appoach to managing their properties?
As a general contractor, at least I have to pass an examination to prove my ability, all a rental property owner has to do is show-up with the ability to borrow the money necessary to cover the note.
The current problem Steve, is that for every responsible and experienced rental property owner you can name, I can probably name one ON MY BLOCK that is not. You, more so than I, should be opposed to this type of operating procedure, for they are your competition.
Dennis Plante Jordan
Steve Meldahl Writes:
Dennis speaks that he would not bring a property up to code if he did not have to. Obviously spoken by an inexperienced homeowner or non investment property owner.
All of the professional and experienced rental property owners know that it is much cheaper in the long run to invest upfront (ie bring up to code at a minimum if not totally remodel). The reason is that your upfront expense is more than offset by the savings in maintenance and service calls you avoid over the subsequent years , as you tend to get a better qualified and more responsible tenant.
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