Life is unfair to landlords
Life is unfair to landlords
93 comments
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I recently learned that my dad used to be a landlord. Problem was, he has a sense of morals, ethics, and empathy. Tennants would be unable to pay rent for one reason or another, but he wouldn't evict them because he understood that sometimes shits hard. Eventually, he had to sell all his properties to a less scrupulous landlord.
I feel conflicted with the knowledge that I could have had a better childhood if my dad was a worse person.
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He could have been the type of parent to charge their children rent once they turn 16.
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Why 16? why not 14 or 18 if you are that kind of a dick. Like I understand that some people ask their childeren to pay rent once they get a fulltime job. Heck I have heard of parents who didn't need to money from their kids so they put it in a savings account in the kdis name and gave it to them when they needed to buy a house). I also know somebody who was 10k short of buying an appartement, he had to pay rent to help his parents stay afloat.
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We do that, all the money goes into an account for him though and he's aware of it. When he moves out it's his again.
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my father is an engineer, government contractor, and Zionist. I wonder sometimes if the Palestinians are paying for my nursing degree right now.
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My landlord is the only homeowner that I can safely look down upon and tell to "get a job".
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Remember to tip your landlord (down a staircase)
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Y'all need Georgism.
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I'm more into Gregism.
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Every time I see these posts: The happiest countries in the world are consistently: The Nordic countries are often considered happy due to high levels of social trust, strong welfare systems, and low income inequality, which contribute to a sense of security and well-being among their citizens. Additionally, their effective governance and access to quality public services play a significant role in enhancing overall life satisfaction. These governments are working for the people, not oligarchs.
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Also, they have excellent music.
Apart from Denmark. I know only one band from there.
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Killer pastry though.
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My mother was deserted by our father in the 60s. She had 4 children. She found a rental house. Our landlords became like family. She struggled, but always paid the rent, and our house was always well looked after. As an adult, I suspect the couple that owned the property never raised the rent. I don’t know that for sure as I didn’t have the opportunity to ask my Mom before she died. I will say that all 4 children were educated and are leading productive lives. Thank you to the kindness and humanity of that couple that were our landlords ❤️. You made such a difference in my Mother’s, and her 4 children’s lives.
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One landlord: “How will I pay my bills?”
Their multitude of tenants and their families: “How will WE pay our bills?!”
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Landlord: "(dead serious) That's not my problem!"
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Is landlord a "job" where you live?
I think every single person I know who owns a house/flat and rents to someone has of course a regular job where he works at. Wouldn't be financially viable in any form otherwise (and it shouldn't be).
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Depends a lot honestly - in my experience, there's two types of landlords.
- The person that inherited/bought an apartment, but doesn't want/can't live in it right now (because it's really remote, for example). They often buy these as "retirement homes", so something they can live in when they no longer work. While they don't live in it, they rent it to other people. The reason for that often is because their job requires physical presence and renting an apartment near their job is just cheaper if you factor in rent from the bought property.
- Large corporations that buy up houses left and right, make a few minor changes that classify as "modernizations" and then jacking up the rent by 33%. Those can go fuck themselves.
This omnious "landlord" that owns like 10 properties and only lives off of the rent is rare. I know a single person that does that, he inherited a company from his dad, sold it like 30 minutes after he became owner, built 3 houses with 4 apartments each and is now chillin. And I don't even feel like that's a "bad" thing, because he has literally built those houses - they would not even exist without him.
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You just don't know those people. Also they don't all brag about it. I just learned my BIL ownes 5 rentals now and is looking at more. He also has a good day job, but he wants to transition into pandlordong full time. I know many many people like this in So cal as a construction worker.
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Where I live the majority of apartment rentals are owned by large corporations whose sole job is property management, including "renovicting" low income people and letting older buildings go to waste while hiking rent prices. These people are scumbags.
Previously I lived in one building that was actually just owned by one person who had purchased several buildings, and while he hadn't built the apartments, at least he was also the sole caretaker so he was putting in the work.
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That is also my experience and I can see from your username that you're from a german speaking country as well.
I am wondering if this is somehow very different in, for example, the US.
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There are some people who own a bunch of properties and their job is maintaining them and dealing with the paperwork. And then there are some people who passively collect income and have a management company do that with no real connection to the place...
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They are basically investors in the housing market when their money makes its own money without their direct involvement.
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LMFAO this is so real lol, landlords have their own circlejerk claiming that market prices increased lmfao
(also if someone could help me out, when I upvote a post on Lemmy, it doesn't show my upvote or downvote or anything even after trying and reloading several times. I'm writing that on this post because it's happening on this one as well)
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No idea, we see your post so I'd assume the API is working for you in general. Check your VPN, do a test downvote on an old post in an obscure place and wait 24h to see if it's just a delay, or else submit a ticket. Feel free to downvote this and comment back and I can tell you if I see it 🙂
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Yes it seems to be working fine now, thank you for the comment!
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"How will I pay my bills"
(Democratic) Socialism, UBI, and fair wages.
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I mean, you can go one further and establish public utilities that ration resources per capita instead of charging a vig on top of the production cost.
Why do I need UBI and wages if I can just claim a vacant apartment and be guaranteed power/telecom, of which their are millions nationally?
We could divert the tens of billions (converted to energy/man hours) we're throwing away on AI subsidies and everyone can live a comfortable middle class life free of charge.
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AI subsidies?
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Yes but yokels in the flyover states will say no, so you're not allowed to do this.
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Why do I need UBI and wages if I can just claim a vacant apartment and be guaranteed power/telecom, of which their are millions nationally?
Because almost all of those homes are vacant for a reason. They are in disrepair, or under renovations, or actively looking for someone to occupy them, etc. Of course, there are some places in rural Kansas which are just vacant - but then, these are already dirt cheap. Iirc, there are some towns which will give you the house for free if you live there for X number of years.
So let's say anyone can request a residence for free from the government if they would like. What happens? Well, first of all, all vacant housing stock immediately disappears in almost all places because - all things being equal - most people would prefer to live alone, rather than living with their family (when they are an adult) or with roommates. And the government can't force people to live with someone they don't like - that's a political non-starter - so if someone ends up residing in a 5 bedroom house, they can just keep rejecting potential roommates the government sends their way. If your goal was to end homelessness, this market trend will immediately stymie your goal - you will still need to build more housing, which will take more time, and people will still be homeless.
Meanwhile, it becomes agonizingly difficult to move anywhere. Want to move to a new city? Well, you'll be on a years-long waiting list to find a place to live. If it is a city that a lot of people want to live in, then the waiting list will just perpetually keep getting longer. Want to move out of your parents house? You'll need to find a friend who already has a place, or get on a years-long waiting list.
What if you have special needs, like you are wheelchair bound? Now you need to wait even longer for a place which is wheelchair accessible. Sure, the government might prioritize such cases - but what about cases that don't neatly fit in a box? Suppose you have a best friend who needs help looking after their child. You want to help out, but you live on the other side of the city, an hour away. So you can never help your friend as much as you want because of the commute, and their child will be grown by the time you could get a place closer to them.
Markets are good because they force people to make choices that balance their desires against everyone elses, which creates a highly efficient mechanism for rationing scarce resources like housing. So people can live alone if they want, or find roommates to save money if they want. They can spend more to live in a hip neighborhood if they want, or spend less to live in a cheaper neighborhood. They can decide how much they value not walking up stairs every day, and choose to pay more for an apartment with an elevator or on the ground floor.
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But think of the market!
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A while ago my wife and I were debating on renting our home out and buying a different one. Just to break even on the house expenses it wasn't worth it.
Maybe I am wrong, but I don't understand how landlords make a lot of money unless they don't fix the house ever.
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Mine doesn't fix the house ever. And if she does, it's always with the cheapest bidder.
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I think the idea is that even if you only break even after mortgage and expenses, you gain equity in the house and eventually own the house which you then have at your disposal. You can continue to rent it out without the expense of the mortgage, or sell it and cash in.
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The landlord I know that makes a shit ton of money inherited the homes from their parents.
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Yeah this is it, the ones who aren’t paying a mortgage on the house they’re renting out. That or corporate landlords.
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There's a couple of ways to make bank. First is to start out rich enough to skip the loan and buy for cash. This is what companies like Blackrock do.
Another is to look out for things like tax auctions to get a big discount. Also you could be friends with a lender and get sweetheart rates on the mortgages.
Also, needless to say, it helps to never do any maintenance and to choose tenants that are unlikely to be able to fight back against you.
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I was able to refinance my home at 2.8% during COVID. Now I'm paying less than $2k for a 2200 sqft home. I've got neighbors who are paying $4-6k for equivalent housing.
My mom, who bought her home in the 90s, has the mortgage fully paid off and only owes real estate taxes (around $12k annually) on a 5000 sqft property.
A lot of landlords simply inherited their homes or had enough credit to buy cheap units during the dips.
They also do a shit job of maintenance. But it can't be overstated how much of this property is either owned on extremely low interest credit or fully paid off.
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My landlord makes 48k a year off where I'm living. I can easily see how he's making money.
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you make money if you don't have a mortgage.
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Get a real job idiot.
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We had 7 units in a strata. All we wanted was to cover the mortgage, taxes and insurance. We kept the rents purposefully low, hoping to attract long term tenants. Quite frankly - tenants move when tenants move regardless of leases (you can't get blood from a stone in small claims.) They aren't rich like we aren't and what little rent we got didn't pay for the cleaning, painting and repairs that we had to do when they moved out. If it wasn't acceptable to me - it wasn't acceptable for my tennant. We scraped along for 7 years and finally had enough. We sold for what we bought them for. Landlord tenant laws are different everywhere - lots of people seem to think you are rolling in money if you are a landlord. Bottomline - We were too soft and feel we got taken advantage of - never will we do this again. If you can't afford your rent, don't be fooled you can't afford home ownership either -
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They aren't rich like we aren't.
We had 7 units in a strata.
Fucking what.
If you can't afford your rent, don't be fooled you can't afford home ownership either
Said the person with 7 rental properties, talk about out of touch.
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Sell your properties, retire to the Caymans
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I don't get why u just blame landlords.
You know what other countries are doing? Building multilevel longterm concrete compact apartment complexes.What does US do? Nothing.
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We dont need compact apartment complexes, we have plenty of houses being hoarded by companies and landlords so they arent on the market and the few that are can have artificially high prices. There are "Cash for your house now!" signs everywhere where I live plus they keep mailing us too, and those are usually either landlords or house-flippers.
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I haven't seen any hoarded houses in my area. I think someone is doing disingenuous propaganda.
Sometimes houses are empty for couple of years because foreclosure and bank has to wait for liens to clear. My neighbor's place was held for 2 years, due to stupid system.
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It's a multi faceted problem. There needs to be gov program to start building apt complexes . This will reduce demand on houses and drive prices down simultaneously
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I'm telling you, those places are full of depression, conflict, traffic, ample(read: no) parking and those with all kinds of life struggles. People (the ones I know) need some space to maintain a healthy style of living. I can hear the lady yawning through the walls at my place. I yearn for a home with no shared walls sooooooo badly lol.
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93 comments