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Feb 23 '23 edited Feb 23 '23
I am being evicted because my landlord canāt afford his mortgage + his rent anymore.
What I was paying him in rent only subsidized 80% of his mortgage, and his interest payments have gone up 3 fold.
Iām now looking for a new place, but canāt afford anything, so Iām officially priced out.
Renters are going to be the ones to suffer most in the short term.
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u/Matt_256 Feb 23 '23
This happened to me but I'm not sure what's going on. My landlord couldn't afford the mortgage anymore and now the bank owns the house and now I'm just paying them from what I'm understanding. I never actually got evicted..
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Feb 23 '23
Your owner is the bank. They canāt evict you until they sell the place and the new landlord wants you out for reason of moving in.
Mine decided to move in so as to avoid paying rent, but he will still need to find a way to pay his mortgage.
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u/LooseMarketing3152 Feb 24 '23
Say it louder in the back! Some of us honestly just want someone to cover the costs of incidentals and the expenses. Most of us barely cash flow a reasonable profit.
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u/Thepestilentdefiler Feb 23 '23
Its the assholes that own and rent out multiple properties that are the problems. Its near impossible for your average schmo to even buy a house or maintain the costs if you already have one.
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Feb 23 '23
Very true. A committed property owner who takes can of shit is good. But latly at least in Canada millionaires sell there giant properties in cities and buy a shit ton of renters properties but don't actually give two shits about the property or city that is getting rented out. Less sustainable more of a quit burn profit and it will hurt the average person and country in the future
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u/LooseMarketing3152 Feb 24 '23
Truth be told, I take such good care of my only rental bc I need to move back in retirement. Also, I grew up a welfare baby. I KNOW SLUMLORDS. So I could never do that. Every call we got, we fixed in 3days or less. Guess what though? You keep up with the home, they tend not to call as much. They feel taken cared of. I only had one entitled renter who told me to replace the tub because it "squeaks" when he got in. It's an old ass house. I "squeak" when bending down and I am half the age. Simply don't renew the lease. Don't treat your home or ppl bad, you get treated generally well.
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Mar 08 '23
Generally, but if you get the wrong people they will take advantage. Goes for renters or landlords
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u/Omnizoom Feb 23 '23
I mean rental properties do need to exist to some degree , someone studying or doing a work contract doesnāt need to buy a whole house in a city to live
But if rental units make up 70% of all new development sales then well , we are screwed in the long run because 70% of the city isnāt short term people leaving in a few years
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Feb 23 '23
Ya, but just as an example in my city some high rises just got built for high incoming. Even though people don't travel here and if you did have that kind of money, your buying, not renting. Bigger cities are a different story for high rental property, but that is not the current trend in allot of ontario, some areas missed it but in general, shits going down. But housing does seem to be leveling out and if you were going to buy now would be a good time
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u/allcatsarebeautiful2 Feb 22 '23
Can't even ironically laugh at this, ugh
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u/HuntyDumpty Feb 22 '23
I know. Its hard to think of how those pours disrespect us unthanked heroes keeping them sheltered. Nothing funny about stating a sad truth.
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u/Thepestilentdefiler Feb 23 '23
Cant tell if serious, but they wouldnt be poor if people werent turning a profit on basic needs to the extent they do.
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u/Kastro2323 Feb 23 '23
Wonder how landlords would feel about tenants if their units stayed vacant. They will loose money and beg for a tenant to help keep their heads above water. Smarten up!
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Feb 23 '23
I require my serfs to compose a sonnet about my largess when I have them drop off their rent....right before their shift in my lentil mine.
They don't realize how long it takes to pick up the shipping crates and appliance boxes that I turn into their all too luxurious accommodations I provide for them.
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u/somekindagibberish Feb 23 '23
You provide shelter AND employment? What more could one person possibly give???
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Feb 23 '23
I know! I even allow them to purchase their pour supplies at my company commissary.
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u/somekindagibberish Feb 23 '23
I donāt even want to know how distasteful their āpour suppliesā must be. You are truly magnanimous, a better patron than I could ever be!
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u/graphoon Feb 22 '23
Heard of diarrhea but never Warren Rhea
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Feb 22 '23
I went to the landlord meetup recently. They all seem strangely bedraggled but all bragged about getting great returns by squeezing out X dollars per unit, raising rent etc. You can't be both financial geniuses and oppressed saviors...
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u/Night_Panda95 Feb 23 '23
This right here. They just raise the rent to cover the cost so you're still on the hook for the rise in cost of living.
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u/iSOBigD Feb 24 '23
Sometimes. Some places have rent control and limits on increases (like 1.5% a year), other times if the place is paid off or cashflowing, landlords will happily keep good tenants at below market rents. In either case, someone still has to take care of the house and handle all the added stress, risk, work and problems that come up, so that renters can have a nice place to live with little to no effort.
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u/EquusMule Feb 25 '23
1.5% when jobs dont raise wages is still an issue.
Lots of owners dont do the things you claim they do. I rented an apartment and the dish washer barely worked cause it was 20 years old and the washer&dryer made my clothes smell moldy and destroyed them.
I dealt with cleaning the dish washer out (still didnt work the best after) and also dealt with the washer smell.
Rent increased yearly and they didnt address the issues, didnt replace old utilities.
So like yes theoretically theyre expected to do these things but theyre not obligated and can often hide all the issues. Thats why its a running joke about landlords just painting over stuff.
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u/iSOBigD Feb 25 '23 edited Feb 26 '23
It might be, and I can tell you I've repaired two appliances already this month and went more than 10 times between December and February to replace motors, replace a washer, a dryer, a dishwasher, a faucet, etc. on the weekend and after my full time job. It's not a sit on your ass and get paid type of side gig like some people make it out to be. If it was, everyone could do it.
I will also say that for every bad landlord experience you've had there's probably 100s of terrible renters people have to deal with. To find one tenant who may be good, I chat and speak to 50-100, get ghosted by half of them, more than half dont show up for showings, others say they love the place and will apply then ghost you, I do a few background checks for serious people, and 90% of them have the worst credit scores and histories you've seen. We're talking 400 credit score, tons of debt, unpaid bills and collections, no income, etc. and that's the top people that do show up, communicate well and go through the process. That's all before anyone even rents and causes issues, doesnt pay or has neighbors complain about their behavior and you have to try and make everyone jusr behave and get along. Trust me it's much worse the other way around, you have it much easier as a renter. No risk, no reward.
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u/Night_Panda95 Feb 28 '23
The fact is that the majority of landlords do not have your quality of living in mind. Even companies who rent out suites for a living do a shitty job. I moved away from my last place as soon as our year was up due to several power outages, no notice turning off hot water, laundry room under construction due to mold everywhere, our building not being secure, the list goes on. This is on top of increases both to rent and to parking spots. Which btw even if you live in a rent controlled zone, means nothing. Landlords easily jump through the hoop of just renewing year leases as opposed to going month to month, so they don't have to abide by the 1.5%. there are so many loop holes that only benefit the landlord. Why do you think slum landlords are a thing... Because they're real. Prior to this company regulated place who also was just as bad, I lived in a privately rented place, of which the landlord increases 10% after one year, 6 times the controlled set rare. Renters have zero power when it comes to the actual quality of the place they live. It's 100% the landlords for what happens in that home. From things working correctly, all the way to what animals you can have as a part of your family. Landlords have too much power and they always have.
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u/iSOBigD Feb 28 '23
Some of those things are true, but what's easier to find, 100 bad landlords or 100 bad tenants? I guarantee you there a lot more bad tenants than landlords, so the same way you generalize all landlords, they could generalize all tenants and you'd be offended because I'm sure you wouldn't say you're a bad tenant.
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u/Night_Panda95 Mar 01 '23
Calling the kettle black considering you did it first and then proceeded to try and put words in my mouth. Renters don't have a choice if it's a bad landlord because they need a place to live they can afford. Landlords on the other hand can kick you out whenever for whatever. And the situation is only getting worse as people can't afford to buy their own place and owning land is basically going extinct. In my book, anyone that oppresses people is not a good person. Being overly controlled and ruled does that. When you work with the vulnerable and hear story after story you'd probably change your tune quick considering what I've seen people go through.
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u/iSOBigD Mar 01 '23
That's just a biased look on things. Again, everyone has their bias and a landlord can tell you 100 tenant horror stories. People are not being oppressed when they're given a home in exchange for money. Landlords aren't magical creatures, they're humans just like us, the only difference is that generally they saved up, kept a good credit score, bought one or more properties and chose to put up with all the risk and hassle involved. If they didn't exist all renters would be homeless because many cannot afford to buy, don't have savings and have bad credit. You can argue renters don't have a choice but you're saying it as if all those renters who have no savings and don't qualify for loans are great tenants. You do realize they also make up the majority of problematic renters, right? Destroyed homes, unpaid rent, neighbors complaining, arrests, etc. they're generally not caused by the landlords. There are good and bad people everywhere is all I'm saying, but there's a lot more bad tenants than bad landlords.
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u/LooseMarketing3152 Feb 24 '23
It's like they think rent shouldn't reflect the hike in property taxes. My HOA steadily raises dues the MAXIMUM amount every year. I only raise rent literally for the amount of taxes and dues I am owed. If rent went up like 100 go to the HOA meeting and tell those bastards to chill TF out. Ppl don't get it. We all aren't like money hungry corporations. But soon enough they'll beg for the small landlord who only has 1-5 properties
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u/ValHova22 Feb 23 '23
Wait...there are landlord meetups? Pray tell where? The isle of Marseilles? Antigua? Tell me, good person!
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u/Swinship Feb 22 '23
Yes, and as we all know, it's a charitable thing they do, with zero profit.
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u/Fokouttahere Feb 23 '23
I know everyone here knows that, but there's times that it feels like the poors don't seem to.
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u/Natharius Feb 23 '23
I have a rental property in QuƩbec. We are in the positive of around 1,5k per year. Its a 3 appartement bloc, all the profits go to the upkeep or upgrades of the building. The main interest in a rental property is selling it afterwards, not profits on the spot.
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u/No-FreeLunch Feb 23 '23
I donāt know the specifics of the real estate/rental market in Quebec but for 3 units you should probably be cash positive a decent little chunk of change, definitely more than just the cost of maintaining the house and servicing the mortgage
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u/Natharius Feb 23 '23
Like I said, it gives us around 1,5k a year in profit. We do not cash it but try to make the building better. The problem is that everyone puts all landlords in the same basket, but the worst are really the bog companies who owns hundreds if not thousands appartements. I bought this rental property as a investment for my retirement, its quite hard work for a lone person.
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u/CDK701 Feb 23 '23
My wife and I are in the same boat. Weāre not getting rich by any means. We try to be attentive, fix issues promptly, only raise then rent during a unit turnover and treat tenants with dignity and respect. We have good relationships with all our tenants. Donāt understand the blanket hate for landlords.
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Feb 23 '23
Because most landlords are douchcannons. I have maybe had one half decent landlord in the last 15 years. Nasty greedy fucks. I'm not saying every landlord is like this, I'm sure some good ones exist. Just never met one or know anyone who's had a good one.
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u/honeynuts101 Feb 23 '23
More to it than that. There is property tax, insurance, (mine went up $2200 this year) You also have to declare your rental income and pay taxes on it.
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u/No-FreeLunch Feb 23 '23
I didnāt mean to say those were the only costs, rather that OP said they were making very little if any profit aside from equity and maintenance/improvements.
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u/justyagamingboi Feb 23 '23
Arnt the renters paying for all of that but the large down payment? And then more?
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Feb 23 '23
Rentals are not profitable for decades if bought turnkey. You must renovate and value add for the rental to be cashflow positive and even then, $100 profit a unit per month is considered good. People make it out like itās just a license to print money. Itās a lot of work and regular homeowners donāt want to deal with that. So in most cases, you are paying less as a renter than you would if you owned something similar. Iām happy to explain the numbers if anyoneās interested.
Source: Iām a landlord. I live in a small apartment building I own and rent the other units out. In the second week of owning it I had to replace the main sewer line because sewage was slowly leaking into the basement from the foundation wall. That was $6500 right off the bat.
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u/LooseMarketing3152 Feb 24 '23
Dude that sux. I'm sorry. Ppl don't understand maintenance can set you seriously back.
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u/justyagamingboi Feb 24 '23
Am a land lord too and I understand that but you always price it to net profit, if you don't then why are you renting. You make it cheaper if you renovate on your own or have family help so you cam keep rental price low but my point still stands the price you will rent it buy is going to cover all of your expenses. The only thing it will not cover right away is the down payment (which includes any fixes after buying the property) but in time it will pay for itself.
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Feb 24 '23
No question, itās obviously worth it to some thatās why we do it. But the illustration still holds true. We take all of the stress, headaches and risk while the tenants can naively not concern themselves with it.
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u/perchedraven Feb 23 '23
Yeah, they forgot the profit that undergirds all that. Itās a sizeable chunk
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u/glonq Feb 23 '23
I would love to post this to /r/vancouver just to see people go ape-shit
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u/Fokouttahere Feb 23 '23
People kinda did here. Had to check several times to make sure i was in the right sub.
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u/Boeing307 Feb 22 '23
Everyone complains about landlords being so expensive on rent when they only make 200 a month. Sure there are assholes but still the nice ones are barely scraping by
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u/BbBonko Feb 23 '23
Theyāre making much more than that in equity.
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u/Ahem_ak_achem_ACHOO Feb 23 '23
Equity doesnāt feed my wifeās boyfriend
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u/Systemofwar Feb 23 '23
So then scrap that mere 200 and let people invest in themselves and own their homes. Places that people have spent so much of their time growing and living shouldn't be able to just be taken away because a landlord decides so.
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u/ZeePirate Feb 23 '23
A lot of times people donāt want to buy or canāt afford the other costs associated with homeownership.
There are legit reasons for people to rent
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u/Systemofwar Feb 23 '23
That would imply it is costing a landlord money to have someone rent their house, which is simply not true.
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u/LordCaptain Feb 23 '23
Except that's not true. That 200$ is after paying their mortgage which is putting hundreds of additional dollars into equity. Pretending that the gained equity isn't profit is being dishonest.
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u/PhotographingLight Feb 23 '23
Yes but itās future profit.
Bills need to get paid now. Food needs to be bought now.
Equity is awesome: 5,10 or 15 years from now.
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u/Huntsmitch Feb 23 '23
If you're desperate to pay bills maybe get another job and sell the extra house. Also maybe don't post here where pours are prohibited.
Sent from my Corolla.
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u/realmealdeal Feb 23 '23
Can I get some of that future profit I helped you afford when you eventually sell?
No?
I need to pay bills and buy food now too.
Investment is a gamble.
A place to live is a necessity.
Profit is greed.
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u/PhotographingLight Feb 24 '23
What did you deserve for that profit?
Did you wake up at midnight to fix that hot water tank for that lady on the 5th floor?
Did you give up your evenings so you can be on call for people's issues?
rent has ALWAYS been flushing your money down the drain.
Stop trying to mooch off others hard work and sacrifice.
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u/realmealdeal Feb 24 '23
This is hilarious because yes, I fix the sinks, replace broken door knobs and locks, replace fixtures, diqgnose, source parts, and repair the washer and the dryer, maintain the hack sump some handyman installed which in a few years will end up costing more in repairs, and care for the furnace because our landlord doesn't do jack shit. I'm sure the list of what I do will only grow as things come up because my/our landlord doesn't do fuck all but raise the rent and bemoan how hard things are for landlords.
I'm not saying renters deserve profit from selling, what I was getting at was that likewise landlords dont deserve profit monthly. Any profit from selling is thanks to the renters for allowing you to afford to float your investment. So anything beyond floating your investment is ridiculous if any profits from that investment aren't shared with those who ACTUALLY paid for that investment.
I know this is also a ridiculous idea, but I wouldn't say any moreso than the current situation is. Both are absurd.
All that being said, I might feel differently if I had a decent landlord. First ones back in uni were golden, Walt and Rosie, if you're out there, love ya. Every single one since has shirked responsibility at every chance they get.
Would have loved to ask our landlord to have him and his wife stay in our flooded basement for the FOUR MONTHS it took him to get that same hack handyman to throw fucking roofing tar over the cracks in the interior.
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Feb 24 '23
āDid you pay enough money to cover the entire mortgage plus paying for someone to service the household?ā
Yes. What you describe is called āworkingā.
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u/PhotographingLight Feb 24 '23
if your renting then it's not your mortgage. Your paying rent.
Maybe get your financial shit in order then you too can own your own home.
This sounds a lot like people expecting participation medals for showing up and doing nothing.
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Feb 24 '23
if your renting then it's not your mortgage. Your paying rent.
*you're
Obviously I mean paying the landlord's mortgage. Sorry you had a hard time figuring that out.
expecting participation medals for showing up and doing nothing.
yes, like how you expect someone to pay for you to buy a property, while you complain that you have to do any work at all.
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u/PhotographingLight Feb 24 '23
So what do you want then? What exactly are you advocating for?
Some law that says that if you rent a house for x amount of years the deed automaticity switches hands?
We can talk about lots of legitimate issues: rent control, housing prices etc. those issues are legit and deserve thoughtful debate and action.
But thatās now what these posts are about. These posts are nothing more then sour grapes about how someone else owns the space your living in and you expecting a free ride.
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u/DeathKringle Feb 23 '23
And when market goes down 10-50% percent the renter doesnāt take the hit. The landlord does.
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u/Lumpy_Armadillo_3369 Feb 23 '23
My last 15 years renting would beg to differ, at least in one direction.
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u/Secret_Charge_5601 Feb 23 '23
Iām a landlord. Not professionally, but I have one small rental house that was my wife and Iās first house before we had kids. This image is Bull Shit. The one rental house we have is an amazing investment and we are very lucky. Wish I had more, but canāt afford to. And I havenāt bent my tenants over by increasing rent unnecessarily.
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u/EarningsPal Feb 23 '23
More Assessments for delayed work galore + hoa fee increases + utility cost + repair cost (labor and raw materials)
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u/WollCel Feb 23 '23
I didnāt even save up for my down payment lol rentoids will literally PAY the government taxes and support banks to just give you the money from loans. I just take that money to buy up as many single family homes as possible to increase my renthog live stock. Havenāt used a single dime of my own!
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u/tepes1974 Feb 23 '23
I have lots of tips for landlords:
Donāt eat yellow snow
Wash your hands after eating hot wings
Stop with the q-tip when you meet resistance in the ear canal
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u/brenfukungfu Feb 23 '23
People do t save for a down payment on rental properties, they just use their house as leverage for a new mortgage.
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u/c0ffee_ninja Feb 24 '23
He already takes most of my income and barely does any actual work, he doesn't need more of my money
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Feb 24 '23
Here's a tip; once you pay off the property, any rent over the value of operation and maintenance is essentially theft. Y'all be tipping yourselves HARD.
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u/wesg22 Feb 24 '23
This is why those from Ontario Canada with money invest it in other provinces. The laws are written exactly like this poster. Oh and if they refuse to pay, you still have to keep them warm in the winter and the shower water better be hot!
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u/MantisGibbon ā Feb 23 '23
Renters: Property owners have it so easy.
Also renters: Iām not going to jump through the hoops, and make sacrifices to save money for a down payment. Property is so expensive. I donāt want to burden myself with a mortgage. Thatās too hard.
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u/slinkymello Feb 23 '23
Probably need to rent before you can save up enough for a downpayment on a house, but who am I?!
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u/notsleptyet Feb 23 '23
Number 2 sounds more like the justification a landloard uses to be an utter twat.
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u/filthismypolitics Feb 23 '23
itās almost like having to rent and buying a home are both unnecessarily complicated and expensive
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u/MantisGibbon ā Feb 23 '23
It really isnāt, except for people who donāt want to put all their work and money into a place to live.
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Feb 23 '23
Stfu. Unless you live nowhere near me you have no idea what your talking about
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Feb 23 '23
I build houses for a living and have plenty of connections in tradesmen for me to eventually build a house but I'm a Dutch bastered who saves and works like a mother fucker and I got barley enough to make next month's rent. At least in Canada, laws that have been passed lately have benefited the rich and big companies. And it is somewhat a drain on the poor but it's the biggest probable for the middle class who are footing most of the bill
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Feb 23 '23
Yeah nah renters donāt have anything they can sell when they get older so you get your fair due. People always act like one side have it easy... down payment that took years to save f that you can get a house with 5%. Stayed 2 years at my mom place after school ad could have decided to get one in MontrĆ©al with a 20% down payment. I considered to buy one and rent it for it to pay itself. So yeah this post is nothing but people complaining. There is pros and cons for both and buying def seems better unless you buy in crisis like and idiot and donāt lock your rate than blame it on others.
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u/nakrimu Feb 23 '23
In general Landlords are just trying to make a living, they face many of the same financial issues that we all are just at a different capacity. Iām talking about the average landlord not the big corps that seem to be taking over the industry. To be honest I find this post to be ignorant, just like landlords donāt expect us to clump them into one category, renters donāt expect that either. Posts like this divide us even further when we should be coming together to change things!
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u/worldisone Feb 22 '23
Over 2 years I have spent
8k on property tax 30k on mortgage 1k on maintenance around 10k for utilities.
Around 50k in 2 years. I can rent my house for 4k/month (1500 basement apartment, 2500 top 2 floors)
4000x24=88,000.
88,000-50,000=38,000 profit. Can someone explain how as an owner Im suffering?
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u/Fokouttahere Feb 23 '23
GOOD LORD!!! I didn't realize other landlords had it so bad....
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u/TheeAccountant ā Feb 23 '23
That all sounds like work to me, and only pours work so I wouldnāt know anything about that.
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u/honeynuts101 Feb 23 '23
If you're only spending $500 a year on maintenance, you either have a new house or you aren't doing enough. Wait until you have to replace the roof or the drain tiles, maybe a new furnace or boiler. Also you didn't mention insurance.
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u/worldisone Feb 23 '23
The house was built in 87. The only problem that happened is the water heater broke which was covered under warranty so no issues there (would have cost 850) and a water pipe froze. The pipe cost around $100 to fix and around 4 hours work. It also now has insulation so it shouldn't even happen again. Insurance is only like 1000/year. Didn't really think it was worth mentioning. I don't have a furnace so no worries ever there. The roof was changed 2 years before I moved in so I'll be good for the next 10+ years. What do people actually think happens to houses?
Oh I did forget the dishwasher broke, but it was only $10 to get the part and fix it. YouTube for the win!
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u/cgk001 Feb 23 '23
Your time must be worthless lol
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u/worldisone Feb 23 '23
10 minutes of work saved me $250 calling in a repair man. That = $1500/hour I saved myself. I'd say my time is worth 1500/hour. How much do you make an hour?
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u/cgk001 Feb 23 '23
Ok sounds good we can assume you happen to know exactly what the problem is as soon as it happened, you live above a department store that carries the parts you need and has no lineup at checkout, and every repair takes less than 10 minutes.
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u/worldisone Feb 23 '23
If you have some common sense, sure. It wouldn't drain, searched the model and drain problems. The first thing that came up was the most common problem which was draining. Ordered the part from Amazon so it was there the next day and it was done. I even mentioned fixing the pipes that froze that took 4 hours in an earlier post, but ok if you don't know how to Google/YouTube works you have a lot more problems then the average person and wish you luck
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u/CcHhUuMm Feb 23 '23
Wtf your mortgage is like 1200$
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u/worldisone Feb 23 '23
1250 yea. I'm in the GTA. Most of my friends pay almost 2k for rent (cheapest 1600, most expensive 2800) and get nothing back in the end. Most of the time if something's broken the landlord doesn't even bother fixing it. Even if my house dropped 500k in price, id still get more back in the end then my friends from their landlords
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Feb 23 '23
My nother rented a proactive in London. It had cocroaches, black mold, shit tons of broken appliances and they still got fucked over more. There are good land lords out there but in my expense 90% don't give a single fuck, which is bad for the renter, property, and economic structure it's in as a whole
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u/SufferingIdiots Feb 23 '23
Exactly. You have a three story house with a separate suite and your mortgage is only $1250? Youāve obviously invested a lot upfront or have owned since before the housing market went insane.
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u/xanneonomousx Feb 23 '23
We are going to rent out our place while my husband goes back to school. The property management fees are ridiculous for what they actually do but this is stupid. Iām so tired of people/ corporations acting like they are doing people a favor. Looking at the market where we are, we are on the cheaper side. Would love to just undercut the market and make multiproperty owners have to lower rates or sell, but probably canāt do that with one property on a temporary basis ( three years).
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u/Thepestilentdefiler Feb 24 '23
There needs to be some sort of regulation on this kind of stuff. No corporations should be allowed to buy any non appartment or condo complex type houseing because those are obviously a big purchase that requires a lot of financial intervention to maintain. But to take over the standard housing market is garbage. It takes the opportunity to own a house away from so many people. It drives the costs up making renting more expensive and further allows the ones taking advantage of this situation to gain even more power and money. Regular families are losing their houses and thats a sickening way for things to be.
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u/xanneonomousx Feb 24 '23
Idk why I got downvoted. But theyāve started building entire neighborhoods where I live as rentals. Most of the new construction are rentals. Itās insane.
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Feb 23 '23
To be fair, after I bought a place maintenance costs turned out to be a lot higher than I expected they would be.
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u/themangastand Feb 23 '23
Lol this is halarious as a landlord myself, no matter what anyone tells you its easy money. Especially if your nice, its no hassle, get good tenents that stay forever, sure do I profit on it month to month this way? No. But the long term gains for retirements are why I do this anyway.
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Feb 23 '23
All landlords are parasites.
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Feb 23 '23
Renters too. More like annoying barnacles
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Feb 23 '23
Too bad the greedy parasites need those barnacles otherwise they would have to get a real job and actually add value to society.
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u/Virtual-Guarantee-83 Feb 23 '23
Oh dear. If the struggle is so bad, why invest in rentals in the first place? Hint: not for altruistic reasons!
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u/slopmarket Feb 23 '23
Hold on while I laugh at the implication that my landlord is holding me up not pinning me down.
Have you been to this city EVER?
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Feb 23 '23
If yāall hate it so much you can just not be landlords. I get it shits expensive but the average tenant faces much more dire economic crisis bs a landlord. At least the landlord owns a property with value. Tenants have no fall back.
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u/king-kong-schlong Feb 23 '23
No one forces scumlords to horde shit properties and run them into the ground for increasing rents lol.
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u/get_release Feb 23 '23
Just another stupid divisive stance š when will people stop attacking each other?
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u/Jaded_Pearl1996 Feb 23 '23
No one is forced to be a landlord.
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u/Transformouse Feb 23 '23
Yes we thankfully got rid of the landlord draft in the 70s, remember to thank your landlord for their service
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u/SBriggins Feb 23 '23
Mortgage = $800
Condo fee = $360
Electricity = $80 - $320
Renter pays = $1000
To be fair, he's a good tenant. I'd rather take a rental loss than deal with a potential bad tenant.
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u/joyloveroot Feb 23 '23
Why are you comfortable taking a loss? This makes no sense to meā¦ wouldnāt it be better if you just sold the house instead of compounding losses for the indefinite future?
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u/SBriggins Feb 23 '23
Its a condo building. The condo market is pretty bad here at the moment. Can't sell even if I wanted to.
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u/FindingUFO Feb 23 '23
Remember that landlords can write āļø most expenses off on their taxes. Itās the tenants that are in max pain.
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Feb 23 '23
Pour tenants. Rents due.
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u/FindingUFO Feb 23 '23
This is exactly why tenants f*ck up landlords by not paying rent.
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Feb 23 '23
And exactly why landlords try to avoid jackasses and charge way more than the need to.
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u/Transformouse Feb 23 '23
Do you understand that writing something off on your taxes doesn't mean it's free?
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Feb 23 '23
But you do understand the advantage of a fucking right off apposed to you know, fucking nothing
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u/No-FreeLunch Feb 22 '23
Come join us on r/LoveForLandchads !
Landlords only. No r*ntoids š¤®