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Was true in BBurg when I rented too, but that's why I bought in Auburn
Rents are unreal and last winter sales prices hadn't caught up. Bought a two bedroom place, had rental income through July, moved my son in and spent the year rehabbing the place. Mortgage and such still about 2/3 of what comparable rent would be.
Not to mention they just started demoing the hill, which is taking a big chunk of on-campus housing off the market and other than the downtown buildings that rent for $900+ a month with 4 roommates, nothing is being built. Plus they are starting their version of the research park, which should drive property values through the roof.
Have a renter this year and next that covers the mortgage and HOA, so he lives for free. With the work we've done plus the market appreciation, we'll likely make about 20% when we resell when he graduates (rents haven't gone up as much as sales prices so far, we'll see what happens in 2 years).
** Edited by Vienna_Hokie at 8/10/2022, 7:14:21 PM
Thread Replies (11)
Hokie son rent due 8/1, but prevented from moving in until 8/19...
-- Mighty Fine Catch
Aug 10, 2022 at 04:28 PM ET
Mighty Fine Catch
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08/10/22 04:28 PM ET
When the rent is due has nothing to do with the period of occupancy
-- Vienna_Hokie
Aug 10, 2022 at 06:21 PM ET
Vienna_Hokie
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08/10/22 06:21 PM ET
Asking the DS to check the lease agreement, but I've heard that this kind
-- Mighty Fine Catch
Aug 11, 2022 at 01:43 PM ET
Mighty Fine Catch
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08/11/22 01:43 PM ET
If you were the landlord, what would you do? WWLLD?**
-- PhotoHokieNC
Aug 10, 2022 at 05:40 PM ET
PhotoHokieNC
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08/10/22 05:40 PM ET
Is it not at least pro-rated? I suppose the lease agreement that was
-- BG Hokie
Aug 10, 2022 at 05:04 PM ET
BG Hokie
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08/10/22 05:04 PM ET
Standard in Blacksburg. Landlords have you over a barrel and exploit it to
-- RhinoVT
Aug 10, 2022 at 04:30 PM ET
RhinoVT
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08/10/22 04:30 PM ET
Could be worse. In auburn almost everyone apartment complex is full year
-- GreenvilleVT
Aug 10, 2022 at 04:45 PM ET
GreenvilleVT
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08/10/22 04:45 PM ET
Was true in BBurg when I rented too, but that's why I bought in Auburn
◄
-- Vienna_Hokie
Aug 10, 2022 at 06:06 PM ET
Vienna_Hokie
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08/10/22 06:06 PM ET
When I was an undergrad, Foxridge would do a 9 mo lease
-- Tafkam Hokie
Aug 10, 2022 at 04:51 PM ET
Tafkam Hokie
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08/10/22 04:51 PM ET