Quote:
Originally Posted by Piotrsko
My brother who was an federal arson investigator on a military base said kitchen fires of known origins are extremely common: fried food
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Could be. This was described as a grease fire in a pan. It destroyed the stove, refrigerator, blackened the walls in the kitchen, and required a full cleaning of the house. Also a few month's rent lost.
However, as Redpoint said - the renter's pay in the end. The rent factors in 20% for damage and repairs.
People say: "How can you charge so much for rent when a mortgage on the property is so much less?" This is why. Taxes, utilities, maintenance, insurance, management fees, damage, lost rent, legal fees, etc. Gross rent collection is 3.5 times more than the mortgage but in the end it only clears 5% return on investment. There is a lot of risk for that low of a return.