this post was submitted on 04 Sep 2023
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It takes labor to maintain properties.
It's nice you think a landlord maintains their property but I have some bad news for you.
I do almost all the work on my properties. And when I don't, my handyman gets $50/hr minimum.
In the US just a little over 1/3rd of rental housing is owned by individuals. It's much more common for renters to be dealing with a corporation that you have no real way of bargaining with as an individual. And they definitely don't pay their handymen $50/hour.
Yeah, we know, you are that unicorn that rents out your properties for the cost of utilities and don't profit massively from it. Even if you are not lying on the internet (I know, preposterous), you are that unique one. If everyone was like that the problem wouldn't even exist.
Great thing your personal anecdote is so representative of the norm. /s
I'm sure it means a lot to the people who can't get their stairs/water/roof/etc fixed for months at a time because their landlord is a pile of shit.
You know, I know there are racist white people, but I don't strut around minorities pointing out how "I'm one of the good ones" telling of all my good anti-racist deeds because that's fucking classless and defensive.
I mean sure, it would be weird if you went around and told people you are very not racist without solicitation. But it would also be weird if you were like "hand me the rope, I'll do it myself" if the topic of conversation was explicitly "all white people are racist and should be murdered."
That fact that you are unable or unwilling to synthesize this distinction independently speaks volumes.
That's funny because I haven't seen one instance in here of "All landlords are selfish and should be murdered." You conflating those two speaks volumes.
Also, like, how many people do you actually run into that say that kind of stuff about white people? Because I have literally never met one. Interesting that's the first example you think of, hmmm?
Wow you've met every single landlord in the entire world? That's quite a feat.
Unless of course you're full of shit. Which you are.
My last landlord expected me to pay him a $55 convenience fee. That's why I hate landlords
YMMV like anything else.
Labor that they (under-)pay someone else to do, using the money that we (over-)paid them for the privilege of paying the mortgage (plus profit) while receiving no ownership in return.
They don’t reside there, they don’t do any work there, and they didn’t even put up the money — the bank did.
To quote Office Space: What would you say you do here?
In other words, there's a good fucking reason they call it "passive income."
They call it passive income so people aren't upset when their money is stolen from them.
If you don't pay your mortgage then you're paying someone else's mortgage, and taxes, and insurance in exchange for a place to live. That's how it works. Don't blame the player blame the game. I'm not a landlord but how you gonna have rental properties without landlords?
Only need to do that if there's somewhere else to go. Because of extremely broken zoning, people will need to pay out the nose for tiny falling apart places.