One thing I’ve learned on reddit is that you never tell people on platforms like that or even this one that you’re a landlord. You could be the best landlord, never raise a reasonable rent, keep a well and promptly maintained property, and LanDlOrDs aRe The ScUm of ThE Earth!!1! is all you hear.
So while I generally agree with your sentiment, there are some obvious ways that sometime could be an ethical landlord.
What if you have a house that’s too big, so you convert a floor into an apartment? You’re adding to the number of housing units available. Should you be forced to sell a portion of your house/building to whoever wants to live there? Or should you be able to rent it out to someone at a reasonable rate? Do we want rules that discourage people from potentially adding units to the market?
I feel like the “all landlords are evil” narrative is way too simplistic, and that simplistic view turns off people who would otherwise support reasonable limits on landlords and housing ownership. Like, it’s obvious that we need limits and taxes on people who own multiple properties, and it’s obvious that there are companies that exploit renters and drive up prices, but it’s all more complicated than just “landlords evil lol”.
I rent my property because it’s the only way I could’ve bought it at my age and I use that money to pay for the mortgage of it while I live somewhere I don’t want to (under parent’s wing in a crappy city) but angry people rarely if ever consider all scenarios
How did you come to this conclusion? If someone is renting it means they they can’t pay for mortgage. Otherwise they would’ve done so. He said, that he needed to make a 20% payment to even get the mortgage. Idk how much money that was for him, but where I live that would be around 130k$. Clearly not everyone has that kind of cash.
And what’s your solution? Disallow renting properties for which mortgage wasn’t posted in full?
So disallowing renting. So you don’t control your property, which means you don’t own it but lease it.
This is problematic, since not being able to open your house is worse than having difficulties with obtaining it. I agree that generally having some people own a lot of housing units is bad, but not being able to own a house means communism. And not as a scare, but quite literally, as in definition.
If you buy it, live in it. That’s not communism, that’s taking control of a crisis. Feel free to rent out part of the house while you live in it, in fact some places are incentivizing exactly that. But owning multiple homes for profit is the problem, whether it’s by corporations or “mom and pop” landlords. It’s a problem we can and should fix.
Someone else is litteraly paying your mortgage for you because you cannot afford it otherwise. How out of touch do you have to be to say that with a straight face?
Thanks for the insult and making my point, I can afford it but in my country you have to make a downpayment of 20% of the value and that ate into my savings, I want to recover some of my savings before moving to another city and eating into those savings more, plus I have to wait a year for my wife’s job, is it wrong to rent it for that year before I move?
Your assuming everyone wants to own property over renting.
House and property ownership has a lot of responsibility and expenses involved.
Your water heater breaks well there is $1000+ your roof needs replacing there is 30K.
All of that goes away when you rent as it isn’t your responsibility.
If you own property it can be harder and more risky to relocate. I know a few people that bought in 2007 and then were stuck as they couldn’t afford to move because they were upsidedown on their house.
Not saying renting is all sunshine and roses. I personally would rather own then rent but home ownership isn’t for everyone.
But I do think it is a major problem when you have a few companies buying up all property so no one else can afford it. But I don’t think being a Landlord is inherently evil.
In a perfect world sure, government is fully funded and runs smoothly people care about the everyone etc… etc…
But in reality I really would be very hesitant to want to live in that world. It is very scary to have a single organization control all your housing. At least with the way it currently is if you don’t like your landlord you can go somewhere else. If the government owns everything your kind of stuck dealing with the same organization no matter where you go. Governments are not immune to corruption and can screw you over even worse in some cases then an organization.
In my opinion the best solution is many private citizens and small rental companies combined with government enforcing laws protecting both parties. However one big issues I am seeing is huge companies buy up everything in a small area and build a monopolies on rentals. That isn’t good either.
Governments are not immune to corruptions, but in the democracy there are ways to influence the government. Private companies that buy all the property are doing the corruption by design, in this case it’s not even called corruption, it’s normal profit-driven business, it’s supposed to be like that. And you can’t do shit about that, there is no ways to influence them
And you can’t do shit about that, there is no ways to influence them
You influence them via your business and local laws. That is why I specifically mentioned that the best solution is having multiple small companies. If you have problems with one you go to another one. Just like what you do with any other company. Yeah it stuck to have to move but it is better move and get a better situation then be stuck in a bad situation.
I actually recently learned about housing co-ops. Basically an apartment complex led by a committee of residents. It’s non profit high density housing, so you can buy a share (meaning rent an apartment) at much lower rates. As an example, in my area the co-ops are at 1/2 to 2/3 the cost of traditional rentals. The downside is, from what I hear, the folks managing the apartment complex can be even worse than an HOA if you’re unlucky.
IMO this is the sustainable way forward for housing.
Threw down over 20k in fixes so far in our first year of homeownership, and due to interest rates and closing costs, we don’t really have the opportunity to move anywhere else without taking a significant financial hit.
Yeah but you know what, you always have a home. It is very unlikely the bank will ever foreclose on you, they rarely do that, even in 2008 almost nobody lost their homes.
But me, I lose my home on my landlords whim. At any given time I may have just 30 days to pack my life up and fuck off, and there’s nothing I can do about it.
You have stable permanent shelter. Don’t undervalue that just because you have to maintain it.
Rights that allow me just 30 days to pack up and leave.
Right now the news in my area is rife with “renovictions” and landlords kicking people to “move family in” but they never have to give any proof of those things. There is regulation, but there is no enforcement.
Definitely not undervaluing it, however it’s worth pointing out that 20k is over a years worth of rent for a similar property where I’m at.
Are you renting month to month? Typically where I’m from you sign 1 year long rental agreements, so that is surprising to hear. Additionally, in some states, if the tenant has been living in a location for over a year, the owner has to give two months notice.
At the end of the day, being financially locked down to a location vs having a “permanent” home, as well as having the opportunity to move wherever you want vs having no permanent home are two sides of the same coins.
You don’t have the opportunity to move where you want when you’re paying 50% or more of your takehome on rent. As an owner you have way more opportunity because you have equity you can leverage if you want to move. Renters have no equity.
It is the furthest thing from two sides of the same coin.
That sounds like an income vs cost of living issue to me. It wouldn’t really be feasible to move until many, many years in if you were making mortgage payments of 50% or more of your takehome.
Ngl in this imagined scenario where shelter is taking up 50% of your income, you’re kinda fucked regardless of renting or owning. There’s no way you’d be able to save enough money to replace the roof (25k?) Replace aging sewer pipes (9k to reline, maybe 15k to replace?) Or replace the windows (haven’t gotten quotes for this yet, but I’m dreading it). You’ll have to get financing for those fixes, so that’s even more interest.
However if you get a better job elsewhere, it is far easier to take advantage of that opportunity if you rent.
You have no equity when renting, but you also haven’t spent a cent on maintenance, and you don’t have to deal with closing costs, taxes, and whatnot.
But you’re not researching, hiring, and scheduling a contractor to fix it. You don’t need to become an expert in long term planning and anticipate problems. You’re not mentally cataloging basic maintenance tasks like when you last painted the siding or mowed the lawn.
Home ownership vs renting goes beyond equity and I know a lot of people who were happy renting because it gave them a huge chunk of free time back for trips, hobbies, etc.
You are basically insuring yourself against those expenses, which has a premium. If you are good with money and have a savings, you can afford not to pay that premium. Not everyone is in that position or smart enough with money. So many people are bad with money, that stuff really should be taught in school.
Like in a housing shortage you’re hoarding property and profiting off it.
Housing shortages are caused by bad government policy: namely, low-density zoning. Direct your anger towards the entity that deserves it, and make them fix their fuck-up.
(Note: I’m not making some kind of Libertarian “all government is bad” argument here. I’m saying that in this specific case, the laws need to be changed.)
There is enough empty property to house every homeless person 30 times. Some of those empty property are summer houses and shit, but even then the problem isn’t the lack of housing, it’s treating homes as a mean to make money out of people’s basic needs. You can build the best walkable city in the world, but if it will be bought by professional landlords immediately it will not solve shit.
No, certain corporate landlords, like Blackrock, is even. Most small-scale landlords are not inherently evil because they rent out their properties. Having a few is not “hoarding.”
Make it illegal to rent out property you don’t live on.
If you want to rent out your basement, or build a seperate dwelling on your property then you are adding to the available housing and can rent that. Most people would rather build their own equity given the chance, and this would provide rentals for temporary living situations.
What if I build a house on a piece of land I own and want to rent it out?
The second construction is completed I’m all of a sudden a scumbag for privatizing someone else’s right to shelter? Even though it’s a house I built on my land? Doesn’t make much sense to me.
You’re moving the goal posts here. Did you buy the land for the purpose of building property? Bad. Did you convert arable land into housing? Bad. Was it a rocky bad piece of land that you invested in to build something more out of it? Good.
Housing policy isn’t binary but in most cases the current personal private multiownership model doesn’t help anyone. My perspective is no one should be allowed to own more than one house, and if so anything beyond the first house should be heavily taxed.
Buying land for the purpose of building property is bad? I think any policy that discourages development of additional housing is probably not going to be great for house prices. Or if you’re handing out houses in a lottery system, it won’t be great for housing supply at least.
I’ll give you an example; my country has food insecurity, rich people take arable farmland and build suburbs on that land instead of infilling the city downtown which has single detached homes less than a kilometre from the centre of the city. Do you think that this is a good thing they’re buying this farmland for suburbs, or a bad thing?
I think everyone in your replies is conflating being a full time landlord and a part time landlord. One of them is definitely more evil than the other.
My previous landlord was amazing. Dealt with every issue that arose in a timely fashion, never raised my rent (which was already very fair based on the location), and even installed central AC after my first kid was born since the house was old and could get pretty hot in the summers.
And she wasn’t the only good landlord I’ve had.
Sorry your experience has been bad with renting, and I agree that most landlords are terrible (I’ve had plenty of those as well), but just because you haven’t ever had a good landlord doesn’t mean they don’t exist.
What’s the alternative here? Only letting big companies without any ethical regards rent housing?
Sure, there’s a good argument to be made that housing is essential to survive and as such should be provided by the government, but that’s not the world we live in. In this society, it’s likely someone is going to have to rent it out and I’d rather it be a person who actually gives a shit and can be held responsible rather than some faceless corporation.
Do you trust anyone to do that? How do you think we ended up with billionaires? By people being gracious? Too many people are too greedy for that to work.
So? Anybody who works their entire life and can save a few hundred bucks per month can be a milliionaire. You make it sound like those working people are you enemies.
A few hundred per month. Let’s do some math. Let’s say you work and earn some form of income for 35 years, or 420 months. If you save 500 every month, you’ll have a grand total of 210.000. That’s 790k off of a million. Even at 1k per month, you’re still less than halfway into being a millionaire.
You need to have a consistent salary of over 2.380/month (28.5k/year) to accrue a total of 1 million during those 35 years. So, supposing you earn 5k a month (60k/year), and can put half of that into savings, yes, you can “become a millionaire” by the time you’re retiring.
Please explain how to turn $210k into $1m with interest alone. I’ll even be generous and say you can take an additional 35 years of time to grow said interest.
Getsmarteraboutmoney.ca - go to their compound interest calculator.
If you have 210k and put it into VEQT on questrade and set up a DRIP, in 35 years you’ll have something like $3 million
Can you link to the actual calculator you’re using for that? That page you linked is just their homepage. I’ve never seen a calculator that accounts for a DRIP.
No, you have 35 years to earn interest, because the first 35 years was spent saving the principal, remember? And remember how I said with interest alone? So no more $500/month contributions either.
So with that calculator, $210k at 4% interest for 35 years puts you at $849,611.66 with monthly compounding.
Ah yes, tell me more about how everyone has an extra 2.500 lying around every month which they don’t need to spend at all, which they could just leave in a savings account and never ever have to deal with unexpected, unpleasant, expensive surprises.
Yes, 2500 are not a few hundred, nobody ever said that, you’re just stating truisms while ignoring the context. You might want to read about what compound interest is.
Yeah I’m going to slave a large part of my entire life so I can own a house, so I can then rent it it in 50+ years. I’m sure by the time you save a million dollars the houses will be worth 3 million. They are already pushing 1.5 million in major cities.
I’d rather slave to own a house than to survive, but I don’t because I’m self employed and work for myself. Each their own. However, it’s good that you’re aware of inflation, maybe you can use the fruits of your slavery to do something against it.
Yes because everyone wants to finally own a house when they pushing their late 60’s that was always the dream. Okay cool story it’s funny how you manage to twist everything everyone says but actually contribute almost nothing intellectually to the conversation. You would think someone so knowledgeable and moral like you would share their strats instead of being dismissive and ant intellectual. But hey maybe you have inherited wealth and your “job” is checking in on your building managers once a week. Each their own.
Lol, you’re the one twisting everything I say. I say “people can do X” you answer with “I don’t wanna do X”. You don’t have to do what other people can do, I’m not suggesting you do what others can do. I get it, you sound angry and bitter, probably because you see no perspective for yourself. As somebody who has been sober for more than six years I’ve seen a lot of people who feel attacked when simply shown that different lives exist. I feel you.
No you don’t say people can do X you make passive aggressive remarks on how people don’t know how to invest (you never really give an intelligent response beyond this). More passive remark, I don’t even know what “no perspective for yourself” means is that supposed to be no future but you realized it was too aggressive even for you so you changed it and now it makes no sense. I have no idea what your sober comment is in the context of. I don’t feel you, you never say anything of substance and feel you can just deflect with passive aggressive insults.
Anyone with a mediocre amount of business sense or anyone that actually owns / owned (or pretends they own via a mortgage) real estate knows exactly how terribly difficult it is to just keep everything running.
This alone explains why reddit and such have no damn clue why renting is so expensive.
never mind the fact that that landlord probably worked hard to buy his first property and subsequent properties to self-employ themselves in the first place
Don’t be an asshole, don’t be a landlord. It’s not that hard. I’ll tell landlords to go fuck themsleves in real life as well. They are leeches on society
Everyone is always profiting off the hard work of others, that’s the whole point of civilization. Yes, many landlords are exploitative. But not all, and probably not even most, are.
One thing I’ve learned on reddit is that you never tell people on platforms like that or even this one that you’re a landlord. You could be the best landlord, never raise a reasonable rent, keep a well and promptly maintained property, and LanDlOrDs aRe The ScUm of ThE Earth!!1! is all you hear.
The very idea of being a landlord is pretty evil though? Like in a housing shortage you’re hoarding property and profiting off it.
So while I generally agree with your sentiment, there are some obvious ways that sometime could be an ethical landlord.
What if you have a house that’s too big, so you convert a floor into an apartment? You’re adding to the number of housing units available. Should you be forced to sell a portion of your house/building to whoever wants to live there? Or should you be able to rent it out to someone at a reasonable rate? Do we want rules that discourage people from potentially adding units to the market?
I feel like the “all landlords are evil” narrative is way too simplistic, and that simplistic view turns off people who would otherwise support reasonable limits on landlords and housing ownership. Like, it’s obvious that we need limits and taxes on people who own multiple properties, and it’s obvious that there are companies that exploit renters and drive up prices, but it’s all more complicated than just “landlords evil lol”.
I rent my property because it’s the only way I could’ve bought it at my age and I use that money to pay for the mortgage of it while I live somewhere I don’t want to (under parent’s wing in a crappy city) but angry people rarely if ever consider all scenarios
So you’re keeping home ownership away from someone who can afford to pay your mortgage is what you’re really saying.
How did you come to this conclusion? If someone is renting it means they they can’t pay for mortgage. Otherwise they would’ve done so. He said, that he needed to make a 20% payment to even get the mortgage. Idk how much money that was for him, but where I live that would be around 130k$. Clearly not everyone has that kind of cash.
And what’s your solution? Disallow renting properties for which mortgage wasn’t posted in full?
If you buy it, live in it. Stop contributing to the housing crisis. Greed got us here, it certainly won’t get us out.
So disallowing renting. So you don’t control your property, which means you don’t own it but lease it.
This is problematic, since not being able to open your house is worse than having difficulties with obtaining it. I agree that generally having some people own a lot of housing units is bad, but not being able to own a house means communism. And not as a scare, but quite literally, as in definition.
If you buy it, live in it. That’s not communism, that’s taking control of a crisis. Feel free to rent out part of the house while you live in it, in fact some places are incentivizing exactly that. But owning multiple homes for profit is the problem, whether it’s by corporations or “mom and pop” landlords. It’s a problem we can and should fix.
Someone else is litteraly paying your mortgage for you because you cannot afford it otherwise. How out of touch do you have to be to say that with a straight face?
Thanks for the insult and making my point, I can afford it but in my country you have to make a downpayment of 20% of the value and that ate into my savings, I want to recover some of my savings before moving to another city and eating into those savings more, plus I have to wait a year for my wife’s job, is it wrong to rent it for that year before I move?
Your assuming everyone wants to own property over renting.
House and property ownership has a lot of responsibility and expenses involved. Your water heater breaks well there is $1000+ your roof needs replacing there is 30K. All of that goes away when you rent as it isn’t your responsibility.
If you own property it can be harder and more risky to relocate. I know a few people that bought in 2007 and then were stuck as they couldn’t afford to move because they were upsidedown on their house.
Not saying renting is all sunshine and roses. I personally would rather own then rent but home ownership isn’t for everyone.
But I do think it is a major problem when you have a few companies buying up all property so no one else can afford it. But I don’t think being a Landlord is inherently evil.
Rentals should be socialized, not owned by corporations or private citizens.
In a perfect world sure, government is fully funded and runs smoothly people care about the everyone etc… etc…
But in reality I really would be very hesitant to want to live in that world. It is very scary to have a single organization control all your housing. At least with the way it currently is if you don’t like your landlord you can go somewhere else. If the government owns everything your kind of stuck dealing with the same organization no matter where you go. Governments are not immune to corruption and can screw you over even worse in some cases then an organization.
In my opinion the best solution is many private citizens and small rental companies combined with government enforcing laws protecting both parties. However one big issues I am seeing is huge companies buy up everything in a small area and build a monopolies on rentals. That isn’t good either.
Governments are not immune to corruptions, but in the democracy there are ways to influence the government. Private companies that buy all the property are doing the corruption by design, in this case it’s not even called corruption, it’s normal profit-driven business, it’s supposed to be like that. And you can’t do shit about that, there is no ways to influence them
You influence them via your business and local laws. That is why I specifically mentioned that the best solution is having multiple small companies. If you have problems with one you go to another one. Just like what you do with any other company. Yeah it stuck to have to move but it is better move and get a better situation then be stuck in a bad situation.
Don’t forget food too. No one should profit on necessities.
Correct, but only one mountain can be climbed at a time. We have more reliable food sources than housing sources right now.
I actually recently learned about housing co-ops. Basically an apartment complex led by a committee of residents. It’s non profit high density housing, so you can buy a share (meaning rent an apartment) at much lower rates. As an example, in my area the co-ops are at 1/2 to 2/3 the cost of traditional rentals. The downside is, from what I hear, the folks managing the apartment complex can be even worse than an HOA if you’re unlucky.
IMO this is the sustainable way forward for housing.
I would love a co op
Yeah, I hope more open up. I reached out to one and they said they have a 2 year wait-list unfortunately, haha…
Yikes
Threw down over 20k in fixes so far in our first year of homeownership, and due to interest rates and closing costs, we don’t really have the opportunity to move anywhere else without taking a significant financial hit.
You bet it’s not for everyone.
Yeah but you know what, you always have a home. It is very unlikely the bank will ever foreclose on you, they rarely do that, even in 2008 almost nobody lost their homes.
But me, I lose my home on my landlords whim. At any given time I may have just 30 days to pack my life up and fuck off, and there’s nothing I can do about it.
You have stable permanent shelter. Don’t undervalue that just because you have to maintain it.
Um, you have rights depending on your country of I’m not mistaken
Rights that allow me just 30 days to pack up and leave.
Right now the news in my area is rife with “renovictions” and landlords kicking people to “move family in” but they never have to give any proof of those things. There is regulation, but there is no enforcement.
That certainly sucks. Can you sue for wrongful eviction? I know that’s a thing where I’m at.
Definitely not undervaluing it, however it’s worth pointing out that 20k is over a years worth of rent for a similar property where I’m at.
Are you renting month to month? Typically where I’m from you sign 1 year long rental agreements, so that is surprising to hear. Additionally, in some states, if the tenant has been living in a location for over a year, the owner has to give two months notice.
At the end of the day, being financially locked down to a location vs having a “permanent” home, as well as having the opportunity to move wherever you want vs having no permanent home are two sides of the same coins.
You don’t have the opportunity to move where you want when you’re paying 50% or more of your takehome on rent. As an owner you have way more opportunity because you have equity you can leverage if you want to move. Renters have no equity.
It is the furthest thing from two sides of the same coin.
That sounds like an income vs cost of living issue to me. It wouldn’t really be feasible to move until many, many years in if you were making mortgage payments of 50% or more of your takehome.
Ngl in this imagined scenario where shelter is taking up 50% of your income, you’re kinda fucked regardless of renting or owning. There’s no way you’d be able to save enough money to replace the roof (25k?) Replace aging sewer pipes (9k to reline, maybe 15k to replace?) Or replace the windows (haven’t gotten quotes for this yet, but I’m dreading it). You’ll have to get financing for those fixes, so that’s even more interest.
However if you get a better job elsewhere, it is far easier to take advantage of that opportunity if you rent.
You have no equity when renting, but you also haven’t spent a cent on maintenance, and you don’t have to deal with closing costs, taxes, and whatnot.
Imagined? Man, fuck you
You’re still paying for those repairs when you rent, it’s just spread out.
But you’re not researching, hiring, and scheduling a contractor to fix it. You don’t need to become an expert in long term planning and anticipate problems. You’re not mentally cataloging basic maintenance tasks like when you last painted the siding or mowed the lawn.
Home ownership vs renting goes beyond equity and I know a lot of people who were happy renting because it gave them a huge chunk of free time back for trips, hobbies, etc.
You are basically insuring yourself against those expenses, which has a premium. If you are good with money and have a savings, you can afford not to pay that premium. Not everyone is in that position or smart enough with money. So many people are bad with money, that stuff really should be taught in school.
Housing shortages are caused by bad government policy: namely, low-density zoning. Direct your anger towards the entity that deserves it, and make them fix their fuck-up.
(Note: I’m not making some kind of Libertarian “all government is bad” argument here. I’m saying that in this specific case, the laws need to be changed.)
There is enough empty property to house every homeless person 30 times. Some of those empty property are summer houses and shit, but even then the problem isn’t the lack of housing, it’s treating homes as a mean to make money out of people’s basic needs. You can build the best walkable city in the world, but if it will be bought by professional landlords immediately it will not solve shit.
Where would people live then? Those don’t want to buy. Under the bridge?
Think before you speak
No, certain corporate landlords, like Blackrock, is even. Most small-scale landlords are not inherently evil because they rent out their properties. Having a few is not “hoarding.”
Like you’ll ever buy a house yourself and support all of the taxes and upkeep with your nonexistent pay
If the rent is covering the taxes and upkeep then the renter is paying it anyway through a middle man.
If the rent isn’t covering costs then the landlord is bad at this and won’t be a landlord for long.
Well, renting out property is the only way for most people to achieve some moderate wealth.
You should never achieve wealth by the oppression of someone else. Housing is a human right, not a salary.
Should farmers not make money? Healthcare workers? Mechanics? Bus drivers? You can argue that this should be socialized, but it is still a salary.
I said achieve wealth. These people aren’t generating large amounts of personal wealth by withholding a basic human right from someone
Not everyone is able or willing to own their property, what would they do if landlords didn’t exist?
Make it illegal to rent out property you don’t live on.
If you want to rent out your basement, or build a seperate dwelling on your property then you are adding to the available housing and can rent that. Most people would rather build their own equity given the chance, and this would provide rentals for temporary living situations.
Rent their property from nationalized government services with controlled prices.
Lol so many people here hate landlords but state ownership is just a step too far apparently
Privatizing the right to have shelter is pretty scummy to be a thing to exist.
What if I build a house on a piece of land I own and want to rent it out?
The second construction is completed I’m all of a sudden a scumbag for privatizing someone else’s right to shelter? Even though it’s a house I built on my land? Doesn’t make much sense to me.
You’re moving the goal posts here. Did you buy the land for the purpose of building property? Bad. Did you convert arable land into housing? Bad. Was it a rocky bad piece of land that you invested in to build something more out of it? Good. Housing policy isn’t binary but in most cases the current personal private multiownership model doesn’t help anyone. My perspective is no one should be allowed to own more than one house, and if so anything beyond the first house should be heavily taxed.
Buying land for the purpose of building property is bad? I think any policy that discourages development of additional housing is probably not going to be great for house prices. Or if you’re handing out houses in a lottery system, it won’t be great for housing supply at least.
I’ll give you an example; my country has food insecurity, rich people take arable farmland and build suburbs on that land instead of infilling the city downtown which has single detached homes less than a kilometre from the centre of the city. Do you think that this is a good thing they’re buying this farmland for suburbs, or a bad thing?
The vast majority of landlords are normal people renting out a portion of the home they live in as well.
What you are asking is that they should close those doors or have the rental be free? Either of those situations is bunk.
No it’s absolutely not. Your comment displays a complete ignorance of the business.
Get a real job
It’s not a business, it’s a scam to take advantage of people
Not a scam. Not taking advantage of people. You’re just wrong on all accounts.
“Business”, admit it, it’s a scam and con same as the rest
Not a scam in any way.
It’s literally no different than those car extended warranty
Wrong.
I’d make a point, but you didn’t bother. Typical landlord unwilling to put in the work.
Another person who doesn’t know what they’re talking about who is anti-business.
I think everyone in your replies is conflating being a full time landlord and a part time landlord. One of them is definitely more evil than the other.
Idk my previous landlord was part time and was still hell.
My previous landlord was amazing. Dealt with every issue that arose in a timely fashion, never raised my rent (which was already very fair based on the location), and even installed central AC after my first kid was born since the house was old and could get pretty hot in the summers.
And she wasn’t the only good landlord I’ve had.
Sorry your experience has been bad with renting, and I agree that most landlords are terrible (I’ve had plenty of those as well), but just because you haven’t ever had a good landlord doesn’t mean they don’t exist.
What’s the alternative here? Only letting big companies without any ethical regards rent housing?
Sure, there’s a good argument to be made that housing is essential to survive and as such should be provided by the government, but that’s not the world we live in. In this society, it’s likely someone is going to have to rent it out and I’d rather it be a person who actually gives a shit and can be held responsible rather than some faceless corporation.
Actually in my experience faceless corporations tend to follow the rules much more stringently.
Small-scale landlords also usually have full time jobs and use rent to supplement their income. Not every landlord is just rolling in cash.
Choosing to use a basic human right as a form of income is scummy. All landlords are scum, whether they are rich or not.
People need a place to stay and not everyone has piles of cash for a down payment. Vote for the change you want, but in this system we need rentals.
Those rentals should be a social project not a profit driven one.
There’s more demand for rentals then there are government resources to provide social projects.
Then we should pay more taxes.
Fuck taxes, the government needs to control all money and pay for all our needs. Anything left over can be split evenly among everyone.
Do you trust anyone to do that? How do you think we ended up with billionaires? By people being gracious? Too many people are too greedy for that to work.
That’s why i said go vote.
What makes you think I don’t? Greed wins every time.
It’s survival.
Can I come to your house, eat all your food, empty your bank account, and have your things?
That makes no sense at all.
And becoming wealthy by withholding human rights from others isn’t “survival”.
In a lot of places if you own any land you are a millionaire, it’s coming to the point that if you own a condo you are a millionaire.
So? Anybody who works their entire life and can save a few hundred bucks per month can be a milliionaire. You make it sound like those working people are you enemies.
A few hundred per month. Let’s do some math. Let’s say you work and earn some form of income for 35 years, or 420 months. If you save 500 every month, you’ll have a grand total of 210.000. That’s 790k off of a million. Even at 1k per month, you’re still less than halfway into being a millionaire.
You need to have a consistent salary of over 2.380/month (28.5k/year) to accrue a total of 1 million during those 35 years. So, supposing you earn 5k a month (60k/year), and can put half of that into savings, yes, you can “become a millionaire” by the time you’re retiring.
Your comment shows exactly why not many become millionaires, because many people don’t know how to invest.
Please explain how to turn $210k into $1m with interest alone. I’ll even be generous and say you can take an additional 35 years of time to grow said interest.
Getsmarteraboutmoney.ca - go to their compound interest calculator. If you have 210k and put it into VEQT on questrade and set up a DRIP, in 35 years you’ll have something like $3 million
Can you link to the actual calculator you’re using for that? That page you linked is just their homepage. I’ve never seen a calculator that accounts for a DRIP.
I’ve got 70 years? At 500 per month and 4% interest that’s 2.3 million, with a contribution of 0.42 million. https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator If you start with 210k and never input anything else you’ll even end up with more.
I know it sounds like magic, but it’s just simple math.
No, you have 35 years to earn interest, because the first 35 years was spent saving the principal, remember? And remember how I said with interest alone? So no more $500/month contributions either.
So with that calculator, $210k at 4% interest for 35 years puts you at $849,611.66 with monthly compounding.
So not a million.
Ah yes, tell me more about how everyone has an extra 2.500 lying around every month which they don’t need to spend at all, which they could just leave in a savings account and never ever have to deal with unexpected, unpleasant, expensive surprises.
Yes, 2500 are not a few hundred, nobody ever said that, you’re just stating truisms while ignoring the context. You might want to read about what compound interest is.
And you might want to read about cost of living
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Yeah I’m going to slave a large part of my entire life so I can own a house, so I can then rent it it in 50+ years. I’m sure by the time you save a million dollars the houses will be worth 3 million. They are already pushing 1.5 million in major cities.
I’d rather slave to own a house than to survive, but I don’t because I’m self employed and work for myself. Each their own. However, it’s good that you’re aware of inflation, maybe you can use the fruits of your slavery to do something against it.
Yes because everyone wants to finally own a house when they pushing their late 60’s that was always the dream. Okay cool story it’s funny how you manage to twist everything everyone says but actually contribute almost nothing intellectually to the conversation. You would think someone so knowledgeable and moral like you would share their strats instead of being dismissive and ant intellectual. But hey maybe you have inherited wealth and your “job” is checking in on your building managers once a week. Each their own.
Lol, you’re the one twisting everything I say. I say “people can do X” you answer with “I don’t wanna do X”. You don’t have to do what other people can do, I’m not suggesting you do what others can do. I get it, you sound angry and bitter, probably because you see no perspective for yourself. As somebody who has been sober for more than six years I’ve seen a lot of people who feel attacked when simply shown that different lives exist. I feel you.
No you don’t say people can do X you make passive aggressive remarks on how people don’t know how to invest (you never really give an intelligent response beyond this). More passive remark, I don’t even know what “no perspective for yourself” means is that supposed to be no future but you realized it was too aggressive even for you so you changed it and now it makes no sense. I have no idea what your sober comment is in the context of. I don’t feel you, you never say anything of substance and feel you can just deflect with passive aggressive insults.
Anyone with a mediocre amount of business sense or anyone that actually owns / owned (or pretends they own via a mortgage) real estate knows exactly how terribly difficult it is to just keep everything running.
This alone explains why reddit and such have no damn clue why renting is so expensive.
never mind the fact that that landlord probably worked hard to buy his first property and subsequent properties to self-employ themselves in the first place
Don’t be an asshole, don’t be a landlord. It’s not that hard. I’ll tell landlords to go fuck themsleves in real life as well. They are leeches on society
its like putting on a nazi uniform and trying to convince everyone you’re a "good nazi’ landlords are the same.
seriously, the “ethical” landlord is always some douche nozzle who “found a good investment” and “sorry I just got lucky owning a property”
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Or,….don’t be a fucking landlord asshole. All landleeches can go fuck themsleves and actually work
You can go back to watching your fucking Fox News too because you obviously follow their bullshit
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Everyone is always profiting off the hard work of others, that’s the whole point of civilization. Yes, many landlords are exploitative. But not all, and probably not even most, are.
Probably because most users are americans and there renters barely have any protections.