- cross-posted to:
- leftymemes@lemmy.dbzer0.com
- cross-posted to:
- leftymemes@lemmy.dbzer0.com
My boyfriend and I have discussed moving out of his parents’ house for many years now. We discussed renting, but then I realized it was just cheaper to buy a house in a small town. We wouldn’t even be able to afford to rent in the larger town over that’s closer to his job and a friend of ours told us about how a ghost company bought out her old place, raised the rent another two hundered dollars when they were already struggling to get by, and didn’t even tell people about it until two weeks before the new year. My friends were able to move out when they did only because of rumors floating around.
My mother and I were forced to live in an apartment after we moved when I was a teenager, but the only reason we got in was because the older guy who owned them knew my mom’s dad and used to go hunting with them when they were young. He was kind enough to cut us a deal. That’s literally the ONLY reason we didn’t end up on the streets. Her sibling said we could live at their place until my mother found a job, but about two weeks later kicked us out because “my husband and I have sex every Saturday and we just can’t do that anymore because your son is in the house.”
I knew what sex was, I was old enough to understand, and I told my mom that we could just leave the house for a while every Saturday. It really wasn’t an issue. But no, the person who convinced my mother to move multiple states away from where we used to and convinced my mom that the job market was absolutely booming (it was absolutely NOT) basically told us to fuck off.
Now that we lived in an apartment in the middle of buttfuck nowhere, my mom jobless and sending applications to any place around us to no avail, we were fucking stuck.
The apartment had many issues and the man and woman who helped the older man run the apartment were hillbilly rigging everything that broke so it just broke again. Over and over.
Eventually, and sadly, the owner of the apartments passed away (the guy actually built the apartments himself with the help of his son) and his son wanted nothing with the place. It took a good year for the apartments to sell to someone else. I went to school with her son and she was kind enough to not raise rent, but eventually she sold them off, too.
It was too much work for her husband and herself and her youngest graduated with me, so she sold the apartments to some jackass in Tennessee.
The rent doubled. There was fucking NOTHING we could do about it. The guy who bought them was hours away from us and had his underlings hire cheap labor to start ripping everything apart.
The people who lived in these apartments weren’t rich or had a lot of money. Many were elderly and had nowhere to go, yet they had to leave. My mother was one of them. I helped her move with my boyfriend and we found her a place, but holy fuck, apartments suck. Landlords especially.
Some rich fuck who has no idea what the local economy is like, buys some apartments for cheap, then thinks it is a good investment.
My boyfriend and I are doing our best to currently find a place, but not everyone can buy an entire house to live in. Not everyone has a good enough credit score or people to help them when they are in need.
I’ve seen a few people talk in the comments about how they own apartments and rent them and are “one of the good ones”, and sure, some landlords will work with people. I’ve witnessed it myself, but only out of luck as stated above. The vast majority of landlords are jackasses who only want to line their pockets with money, and even if it isn’t a specific landlord, some scam company can easily buy the apartments and fuck everyone over.
Being a landlord isn’t a job. Taking money from vulnerable people isn’t a job. If you go out of your way to work on the apartments you own, good for you I guess. Congrats. Woo. But you still chose to own apartments or rent out a house. You CHOSE to line your pockets with money from people who are desperate to have shelter, but not everyone has a choice in deciding to rent.
How has no comment in this thread yet mentioned Georgism or Land Value Tax? That is the solution to Landlordism
Being a good landlord can be a job, depending on the home and the needs of the tenants and whether or not they’re able so whatever work is needed for the place.
The problem is most just want the returns of an investment without the risks of such, and without ever putting any further “investment” into the property after purchase.
This place is getting a little too libbed up recently, needs more maoism reapers dipped in mama marx’s chili oil.
I believe a landlord should have a similar stake in their property that franchisee’s for good companies often have: Forced to have a very real presence and understanding of the property, its condition, and how to handle the work if necessary. This would force landlords to own only so many locations, often closer together, and would create more landlords of higher quality, which means better living conditions, and likely lower rent for tenants. This would also make it more of a job. I feel it would also be beneficial if there was a subsidiary program so that landlords were forced to rent, at reduced cost supplemented by the Government, individuals with disabilities that don’t directly impact those around them, who can largely live on their own, though may not be able to hold a full-time position. This would only have to be maybe one unit out of every 10.
Finally, assuming everything above could be ironed out to work without some jackass finding loopholes: Property owners, regardless of location, should be forced to pay taxes unique to them. These taxes would specifically go towards programs that support housing and relocation efforts, food and clothing programs, and especially help to offset lowered cost-of-living rental units.
We can mix and match these ideas. I’m mostly vomiting them out this point. POINT is, they can stick around. Let them feed off my wage ONLY if they make it worth our time. I’m happy to not have to worry about mowing a lawn or shoveling, for instance. But if they are going to exist, they must do so under rules that make it more work and less play. After all, a landlord who goes out of their way to promote strong living conditions and happy tenants would, using the ideas above, be a landlord who could play more. Because they’ve earned it.
Unlike now where the good is uncommon.
It’s called not becoming a corporate slave /s
ok to be clear, maintaining and upkeeping a property IS actually a job.
However it also requires that you well, do the job. There are a lot of people that housekeep for others, that’s a job. Landlording is theoretically, a subset of this, in the other direction. But in reality, it’s not.
Regardless, i think renting homes should be illegal.
It is a job when you’ve got dozens of shitty tenants always complaining about petty little things like heat, mold, and infestations
Hold up.
If they’re complaining about that stuff, you’re either a shit landlord or you’re housing shit tenants who bring mold and infestations to their home.
The heat thing, that’s all you bro.
Also, the people bitching about this shit are probably not the ones causing it, unless you’re one of those filthy parasites renting out an entire property to a single renter…
If you are, I can’t imagine what would compel you to post here… Like, at all. It’s a good way to attract attention to yourself I suppose. Hatred is still attention.
Didn’t Qaddafi get rid of landlords?
End result was a housing shortage. Renting isn’t always a great option but it’s a better option than being homeless. Removing a less than ideal option doesn’t automatically result in a better option magically appearing out of nowhere.
You see little Lisa, in the real world making extreme economic changes can cause unintended repercussions.
Qaddafi was eventually brutally murdered for implementing policies based on lame brained slogans.
Mao was right about many things. But he was most right about Landlords.
Rental income is considered income, and taxed assuming reasonable tax brackets much higher than investment income (That is to say, caiptal-gains. Interest/Dividends are also taxed at the higher income rate)
The cost of maintaining a livable home, property taxes, insurance, property depreciation, and renter interactions eat into the supposed windfall that landlords make.
I’m not saying it doesn’t suck sometimes and that certainly these formulas are out of whack in some situations, but there are no easy answers.
Rental income is considered income, and taxed assuming reasonable tax brackets much higher than investment income
Depends on how the income is structured. You can own shares in a REIT that manages properties and count the dividends paid out as investment income.
The cost of maintaining a livable home, property taxes, insurance, property depreciation, and renter interactions eat into the supposed windfall that landlords make.
We had interest rates as low as 2.8% APY within the last three years. States have been lowering property taxes steadily for the last decade, as prices skyrocketed. Depreciation doesn’t lower the land-value, which is where most of the price inflation has occurred since the first big real estate booms of the 90s. And “renter interactions”? I don’t even know what this is attempting to imply. Is cashing the checks costing you money?
Some of the biggest investments hedge funds have made since the COVID crisis have been in residential real estate. This, in a market where The Magnificent Seven stocks have performed 20-30%/year for several years. Someone who works for Warren Buffet clearly sees a windfall in landlord-ism that you’re not seeing.
(In the US) divedends are taxed as ordinary income. REITs are required to disburse their profits to the shareholders as divedends.
Only buy-low, sell high appreciation is taxed as capital-gains.
I don’t know where you live but in the US the IRS considers rental income as regular income for tax purposes. So when you fill out your taxes it just goes in your bog standard income section.
Additionally all expenses incurred for certain repairs and maintenance are tax deductible. My house gets similar tax breaks as I work from home, so things like plumbing repair (I guess considered an essential service) and regular maintenance can be deducted (although I’ve never gone over the standard deduction so I never really realize those benefits).
In every imaginable way rental income is better financially than “standard” income…though not morally.
the IRS considers rental income as regular income…it just goes in your bog standard income section.
In every imaginable way rental income is better financially than “standard” income
?
If I’m reading the post correctly.
One seems to speak to the way the IRS views or categorizes this income and the other is what the financial realities are for this mode of income.
But, I’m not OP so IDK I’m just going off how interpreted the post.
Sorry I meant in the sense that the income is treated the same plus the benefits of additional deductions. You don’t typically get additional deductions or reimbursements for a normal commute job (for instance gas, maintenance, licensing, etc) that you might see for say…well my wife is a good example as a veterinarian. She’s fully reimbursed for CE, licensing, and other items required for her job.
FYI, that’s mostly a myth. Taking “home office” deductions has VERY strict rules. Most people working from home don’t qualify and what can be deducted is very limited in scope.
You’re not wrong, even including what was available it still wasn’t anywhere near enough to make itemized deduction a reasonable option. I mentioned the plumbing mostly because I thought it was funny that it was actually included in the list of valid deductible expenses for maintaining a home office.
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My favorite part is how they ALL claim it’s so much work and they don’t make any money. Ok? If you don’t profit why do you keep buying property and doing it? Because you DO profit you bunch of lying liars! lmaooooo
Got a lot of angry landlords in these comments. Oops.
You got a lot of people pointing out that your generalizations aren’t entirely accurate. The problem isn’t landlords, it’s foreign nations coming in and buying up land for the purposes of exporting the labor and production of that nations economy by leeching off of rent.
The problem isn’t landlords; they serve a purpose. It’s corporations acting as landlords that’s the issue. Corporations acting as landlords are allowing foreign nations to export our resources through ownership of property.
Here you go: https://youtu.be/m1m7WmKJZyQ
Then go buy a house.
Oh, you’re gonna lambast me for telling you to do that because you’re a renter?
That’s exactly what you opine. You don’t want landlords. Thus you want everyone to buy their property and not rent it, right?
So go ahead and do what you espouse, and buy your property. Then when you want to move, sell the property to someone else before buying the next property.
Yeah lot of bootlickers here. Being a landlord means exploiting people’s basic human need for shelter to pad your pockets and taking houses off the market to increase demand.
Fuck that guy up there acting likes hes doing his tenants a favor renting at market rate while he builds 3 houses worth of equity. Parasites every one
Don’t many landlords… manage the home(s) they’re renting out? Like cutting the grass, doing maintenance work, investing into the property for upgrades etc… ?
I don’t see how the landlord is stealing from the renter.
Side note: I don’t support corporations buying up property and renting them out or converting them into AirBnBs.