Based upon the blogs I read, there are plenty of new "landlords" that have never owned rental property before that rushed in to buy villas and designers to rent without a thought to how they would make money. After all, everyone was doing it and the house and rental prices were escalating like crazy. How could you possibly lose ? They had (have) no idea what a protective lease was (is), dont know what to do when they get that call at midnight, or what to do when their unscreened tenant tenant leaves their place a wreck etc etc .. Reminds me of a time in the heyday of DELL in Austin when all the young Dellionaires were buying mega mansions and smugly asking .. was there ever a year when the stock market went down ?? I suspect that some stabilization and rationalization of rental rates will occur over the next couple of silly seasons .
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