Life is unfair to landlords
Life is unfair to landlords
93 comments
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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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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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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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Yes, you learned that one person has 5 rentals - that's one more person. That's why I said these people exist, but in small numbers.
A vast majority of apartments is controlled by large corpos.
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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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93 comments