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In fact, anything anyone does to earn extra income to afford a better home distorts housing prices. It'd have the same effect if they made the same money runnin
by tlb 7y ago
In fact, anything anyone does to earn extra income to afford a better home distorts housing prices. It'd have the same effect if they made the same money running a software consulting business in their extra bedroom.
Housing prices in desirable downtowns are mostly distortion these days. It's been a long time since they corresponded to the cost of construction.
- smt88 7y agoThis isn't "starting a software business" -- it's violating a lease. Not everyone can or will take that risk.
- tlb 7y agoIn fact, many residential leases prohibit running a business out of the premises [0]. But these clauses are rarely enforced unless you're causing complaints. [0] See clause 7 at https://cozy.co/blog/8-important-lease-clauses-for-landlords/ https://cozy.co/blog/8-important-lease-clauses-for-landlords... for typical terms
- smt88 7y agoI lived in a condo building that fined an owner $60k for 2 years of illegal Airbnb leasing (for a $300k condo). I also had a friend who was evicted for leasing a rental. Running a business out of the premises is rarely enforced, but it also rarely creates risk or loss for the landlord the way Airbnb does.