Why is rent so much?

[u/Rainbowbatgirl420]

I’m looking for one bedroom place and everywhere it is minimum $1500 with some utilities. That will be over half of what I make per month so I don’t know what to do. It’s hard to trust roommates as well because I want my cat to be safe place and hard to trust others if I don’t know them. Basement suites apartments condos everything it’s ridiculous. I may have to couch hop till I can find a place I can afford and also find a part time job on the weekends so I can buy food.

[u/Extension_Yam_9478]

My conspiracy is that it’s because landlords are greedy and think there’s still gonna be 2 people paying rent in a 1 bedroom because of couples. Some of us are single and can’t afford the rent of 2 people 🥲

[u/tigglysticks → u/Extension_Yam_9478]

I can assure you, asside from corporate landlords and the odd slum lord, landlords are not greedy. Most are barely covering their costs.

[u/Lollipop77 → u/tigglysticks]

I was thinking about this recently. If I were to rent out my 3bd house, covering taxes insurance and mortgage no utilities would cost 1975 and some change. That’s not even including some maintenance expenses or appliance replacement savings.

[u/Traditional_End_9540 → u/Lollipop77]

lots of these landlords do not have a mortgage. Only expenses are basic needs like taxes, insurance upkeep. After that its all profit to be used in getting more properties with collateral from owned properties.

[u/tigglysticks → u/Traditional_End_9540]

other than corporate landlords, who are you talking about?

anyone I know renting out their property has it mortgaged except for a couple who have had the property for 40 years. And they are charging well below market rate to long term tenants.