We're already in neighboring cities. I'm just waiting for the right moment to see if IP wants to drink a few cold ones in my car with me.
Thought this thread was worth a bump since we are coming up on our 60 day mark for when we have to give our notice of whether we intend to move out or not. It's sounding like Baltimore City has made it illegal for landlords to increase rent while we are in a state of emergency, or for 90 days after. Does that mean they are about to offer us another 12 month lease to stay here at the same monthly price? If so, that's awesome. I was fully preparing myself for another showdown, followed by a move to a bigger unit on the 3rd floor of the other side of the building. I honestly wouldn't be surprised if they found a way to weasel around this change. Increase parking from $100 a month to $150 a month, add a substantial amenity fee, or something along those lines. Realistically, they could just not offer us an opportunity to sign a new lease, forcing us to move out, and then hiking up the rent for whoever moves in after, couldn't they? https://www.baltimoresun.com/corona...0200511-g3igspmn3ndtfpr6r5xjozhy7i-story.html
We signed a new lease back in April and they bumped up rent something like 5%. I'm very thankful to have so far been completely insulated from current events, so we didn't even say boo about it at the time.
I updated the post to include some of what I could see happening here. We haven't been negatively impacted at all by everything going on, and while I would probably end up just "dealing" with a 3-5% increase, it honestly makes no sense. All of the amenities that we had constant and free access to when we signed our original lease have been closed for months now and have literally just begun opening back up this week. And they are all VERY limited in how we can use them. I can only go to the gym for 30 minutes at a time, and I have to schedule it in advance. It doesn't make a ton of sense for them to charge me more for what is now a lesser product than it was a year ago, but I guess that's just the way it is.
They knocked off most of our amenities fees starting in March. No end in sight for us on those. They got the pool ready, but they don't know that it will actually be opened. Gym's closed, and gathering rooms are closed. I never used any of that stuff and the amenities fee was mandatory, so that's been a complete win for me.
That's solid. Our pool opened today. Max 16 people at a time. No guests who aren't residents. You have to schedule your time in advanced to use it. Max 2 hours. We will see. The girlfriend is about to take the dog out and plans to ask about when we will see something and if we should expect an increase while she's down there. I've got my fingers crossed for "next week, and no increase," but the pessimist in me isn't expecting it.
Got our letter today. 12 month or 15 month option at same rate. No increase in parking or pet fees (they increased both last time around). I'm honestly shocked but also glad that we can just continue on for at least another year without having to change anything up. We were on the edge of purchasing a house, either a row home in Baltimore or in the suburbs more central between DC and Baltimore, but we just weren't quite there yet financially. This extra year should buy us enough time to get to where we need to be to make the plunge in 12-15 months. It's nice when things just kind of work out.
Wait until the bubble bursts. I've gotten about 50 cards from real estate agents because everything is selling crazy high here. I almost want to sell, just because I could get 33% more than it is worth.
I need to start researching everything for what that process looks like. I’m pretty good at making money but don’t know a damn thing about what to do with it once it’s in my account.
You are looking for an interest only balloon mortgage. Probably at 7 to 8%, which will be a steal. And make sure to get 25% more house than you think you can afford because you always underestimate what you think you can handle.
25% more from a $$$ perspective? I feel like we may already be shooting high. But I’m also pretty frugal for the most part.
Also, now that I know this place is holding people’s rent, I bet the new building that opened up next door in May is gonna struggle mightily. The place is massive, and it’s overpriced because it’s brand new. I figured they’d end up poaching people from this building, but not if this place is holding rent steady. That place is only gonna be pulling new residents to the area, and I bet it’s gonna be a ghost town for a while.
Yup. You'll always wish you had bought more house. Plus, an interest only loan you'll have lower payments so it'll make it easier to afford.
