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They don't care. When you have billions in the personal bank accounts, the few tens of thousands you would collect per month from a luxury house in London means
by ddalex 10y ago
They don't care. When you have billions in the personal bank accounts, the few tens of thousands you would collect per month from a luxury house in London means nothing.
It would be more of a nuisance - the tenants need registering, then you have to pay taxes, for what gain?
- randyrand 10y agoA $5 million home rents for roughly $20k a month, or $240k a year.
- ddalex 10y agoProbably the owner of said home makes more money than that in his/her sleep.
- rahimnathwani 10y agoPassive income on capital assets (e.g. letting out property) is exactly how they make that money.
- GreaterFool 10y agoYou hardly have to do anything. Various agencies will do everything for you. You'll never hear about your tenants.
- pjlegato 10y agoThe point is, why would they bother even with the minute hassle of vetting and hiring an agency just to make a few pennies every year as compared to their existing billions? It's not even worth their time to do that much, apparently, since the houses in question are sitting empty in a high-rent area.