8mo ago

Life is unfair to landlords

90 comments

One landlord: “How will I pay my bills?”
Their multitude of tenants and their families: “How will WE pay our bills?!”
- Landlord: "(dead serious) That's not my problem!"
  
  Peter Parker: "you'll get your rent when you fix the damn DOOR!"
  
  I know some landlords that acknowledge it is their problem, tenants dying or failing to pay means more paperwork and needing to find a new tenant, but they don't really offer good solutions.

Landlords are parasites.
- They're the foundation of society, I say!
- property is theft
  
  Private property yes, personal property no
  
  Now you are under arrest, oh baby

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).
- 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...
  
  They are basically investors in the housing market when their money makes its own money without their direct involvement.
- 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.
  
  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.
  
  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.
  
  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.

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.
- He could have been the type of parent to charge their children rent once they turn 16.
  
  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.
  
  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.

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.
- 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.
- The landlord I know that makes a shit ton of money inherited the homes from their parents.
- 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.
- My landlord makes 48k a year off where I'm living. I can easily see how he's making money.
- you make money if you don't have a mortgage.
- Mine doesn't fix the house ever. And if she does, it's always with the cheapest bidder.
- 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.

Y'all need Georgism.
- I'm more into Gregism.

Remember to tip your landlord (down a staircase)

My landlord is the only homeowner that I can safely look down upon and tell to "get a job".

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)

Get a real job idiot.

Sell your properties, retire to the Caymans

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 -
- 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.
- YOU were the one who couldn't "afford the rent" by ""needing"" bootlickers to pay your costs as a wageslave. Bugger off, leech.

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.
- 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.
  
  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
  
  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.
- 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.

90 comments