Time to get that 4th part time job rentoid
Time to get that 4th part time job rentoid
It's a tough "job" but someone "has to" do it
23 comments
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I think in Vienna they have a system where an organization owns an apartment building. It's run by the ppl living in the building. The organization (the inhabitants) charge rent based on the costs of the building. So maintenance, upkeep and future repairs. 0% profit. So the rent is as low as it can practically be.
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Sounds like a condo but residents don't have to pay an exorbitant barrier to entry.
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How does this organization buy or build the apartment building?
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I'm actually not sure. I never looked into the details. But the costs of the organization could include a mortgage that paid for it's construction. A developer could build a building, found the organization, fill the apartments, sell it to the organization who uses a mortgage to pay for it. The problem is most likely political or legal depending on where you live.
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What really gets me about these landleeches is that literally getting property for free, paid for by someone else, isn't even enough for them. Nope, equity is worthless, gotta have cash on their pockets after paying the mortgage and expenses to count as "profit."
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I'll never forget the moment when it dawned on me that taxes were paying for the mortgage of the fucking idiot that I rented my flat from. I'd been out of work, and she rented to us knowing that we'd be using housing support to begin with. When we missed the second month's rent she phoned me up and yelled at me, accused me of "sitting on my arse, pissong people off".
And I had this moment of clarity that, far from being genius entrepreneurs, most landlords are just lucky enough to have the deposit for a second property, which they'll rent out and let the council pay the mortgage.
So I told her to fuck off.
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23 comments