Anywhere you decide to live, it’s not easy to buy a house.
Buying one would cost hundreds and thousands of dollars and can only be achieved if you have enough savings in the bank or earn that much monthly. This is quite an unlikely scenario to happen in a snap.
This is why most people prefer to rent, especially if finances are getting unstable.
That doesn’t mean renting can’t be a burden, too. A monthly rent that can go high for a couple of thousand dollars would mean working long hours or two jobs for some. At times, people fear getting evicted because of late payments.
A survey conducted inn the late August of 2020 said there are 7.4 million people in the country behind on rent.
According to The Census Bureau’s survey, most of these people are in groups that are struggling to pay and afford their rent. Nevada covers 14% of this survey, with 129,000 residents finding it difficult to pay their rent on time.
But in Las Vegas, this landlord is trying to make a difference.
Tom Trout, a 71-year-old war veteran and landlord of multiple properties in Las Vegas, refuses to raise the rent for his properties. One of his long-time tenants, Bill Donnelly, even shared how his rent went down from $1,200.
Bill is not only paying $900 for his house.
This is a cheap price considering that the property he’s renting has four bedrooms, two and a half bathrooms, and a garage that can fit two cars. Other homes in Las Vegas with the same features can cost up to $2,400.
There was even a time that Bill offered to pay more, but Tom refused.
The rental prices were increasing, and Bill was concerned about the possibility that Tom might sell the properties away. He offered to pay more, but Tom said no. He even said he would decrease the rent even more if he insisted on paying more! What a concept.
Tom says he’d rather keep tenants than see them priced out.
He said that all his properties are paid for and have nothing to worry about. Earning more by raising the rent would mean nothing to him. Rather, he would want to keep the rent as it is, have long-term tenants, and keep the business going that way.
His mindset is helping out a lot of people in his community.
Other people renting in Las Vegas find it difficult to keep up with the rent. While they can apply for rent or home assistance programs, it’s not a clear assurance that they won’t be evicted and if they can afford to still rent in the following months.
Tom said in an interview with KTNV 13 Las Vegas:
“If I raise the rent to a thousand, I’m sure they (he) would move out. Some people might think I have the I.Q. of a grasshopper, but I like to keep my tenants,” he said.
They might think that way, Tom, but we believe your high E.Q. is saving other people.
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