Monday, March 4, 2024

The end of iBuying and what you need to know: The Real Word

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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

This week on The Real Word, Byron Lazine and Nicole White discuss pet rent and Opendoor, along with three hot-button issues on midterm ballots this year — marijuana, gambling and taxing the rich.

Where do you personally fall on these hot-button issues? Lazine and White split the difference in this week’s video podcast.

Pet deposits and expenses

Byran and Nicole dive deep into the rising costs for tenants who want to have pets in rentals. Tenants, of course, want lower or no fees around the pets they want in the home, while landlords are trying to protect their assets as, most often, pets cause serious damage to their homes. Non-refundable or refundable, which is the fair way to go?  Depending on the state and the landlord’s preference, these expenses can get high very quickly.

Nicole’s advice: Build the pet fee into the rent instead of charging a separate fee.

Opendoor troubles

Byran and Nicole discuss the obvious repercussions of selling properties at a loss. A year ago, Zillow found itself in the same position that Opendoor is in now. Lazine evaluates the Inman article by Mike DelPrete and past statistics to make a prediction. The net loss figures do not lie. It’s almost impossible for another iBuyer to come in and recreate this process.

Midterms: Left, Right, Middle

Our hosts do their best to say middle of the road as they tackle the real topics of the midterms this year. In their biggest take of Left, Right, Middle ever, they dive deep into the issues that matter most in this year’s midterms.

Many states are voting on important kitchen table issues that voters are passionate about, and our hosts encouraged everyone to get out and vote.

When it comes down to increasing taxes for the rich, Byron recommends a resource called “How Money Walks” to show how state-increased taxes can impact what wealth remains in each state.

In the discussion of legalizing marijuana, both hosts agree that states are missing out on an opportunity to make money, and in this economy, the income would help much-need public programs.

Where do you land? Left? Middle? Right?

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