4 ms·
> If you have owned a home for 10 years and want to buy a new home in another area, you will still want to sell your home. Actually, as an outsider looking in,
by bmelton 11y ago
> If you have owned a home for 10 years and want to buy a new home in another area, you will still want to sell your home.
Actually, as an outsider looking in, the incentives seem set up such that you'd be far more inclined to rent your existing home than sell it.
- toast0 11y agoWhy would you want to be a landlord in SF? Even if its not rent controlled, a bad tenant is going to be a nightmare to get rid of.
- mrgordon 11y agoRents are headed straight up and people are desperate for anywhere to live. Its a good gig to be a landlord in SF even if the laws are tenant friendly
- skuhn 11y agoI'm sure that it isn't all smelling roses and cashing checks, but rental property in San Francisco is literally a license to print money for many landlords. Simply by virtue of having owned the property for several decades, you stand to make a significant amount of money from tenants. Consider someone who has owned a property since the 80's. This person might have paid $600,000 for something valued at double that amount today. Their mortgage (if they even still have one) is $2400/mo, property tax works out to $500/mo, and they can charge $4000/mo for rent. Lots of people in lots of places around the world rent their properties out for far lower returns.
- steven2012 11y agoSomeone who owns a house from the 1980s, of which is likely very rare, is getting pretty close to retirement age, and would probably rather sell the house and move away than rent it out. And there will be a very willing buyer waiting to buy it, regardless of the property tax.