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A good portion of rent covers eviction risk. Increase cost of evictions results in an increase in rent. If lower affordability is your goal we should make it ha

A good portion of rent covers eviction risk. Increase cost of evictions results in an increase in rent. If lower affordability is your goal we should make it harder to evict.

AnthonyMouse 6y ago
People don't want to hear it but it's true. The landlord has to pay the mortgage on the building. If they end up with 30% non-paying tenants who they can't evict, everybody's got to pay 30% more rent.
- tartoran 6y ago
  But if the profit is 30% nobody’s getting it but the landlord.
  - gbronner 6y ago
    People who are getting evicted are stressed. They often trash the property or behave in such ways that others don't want to live near them. For the ll, it is money; for their neighbors it is their life.
    - tartoran 6y ago
      What does that have to do with sharing the loss but not the profit?
  - ensignavenger 6y ago
    There aren't too many landlords earning 30% profits over the long run. If they are, they are doing an exceptional job managing those properties.
  - AnthonyMouse 6y ago
    > But if the profit is 30% nobody’s getting it but the landlord. What profit? The landlord has a $10,000/month mortgage payment and 10 tenants who pay $1000/month rent. If three of the tenants stop paying their rent and you can't evict them and replace them with paying tenants, you still have a $10,000/month mortgage, so now you have to raise the rent on the others by >$400/month each just in order to make the payment. It's systemic, so all the other landlords are in the same situation and have to do the same thing, which means you can raise the rent by that much without losing tenants to the competition. The people getting the extra money that the other tenants are paying aren't the landlords, they're the tenants who are living there without paying rent because they can't be evicted. And you can imagine what happens when the other tenants can't afford the higher rent and stop paying too.

A good portion of rent covers eviction risk. Increase cost of evictions results in an increase in rent. If lower affordability is your goal we should make it harder to evict.

AnthonyMouse 6y ago

People don't want to hear it but it's true. The landlord has to pay the mortgage on the building. If they end up with 30% non-paying tenants who they can't evict, everybody's got to pay 30% more rent.

tartoran 6y ago
But if the profit is 30% nobody’s getting it but the landlord.
- gbronner 6y ago
  People who are getting evicted are stressed. They often trash the property or behave in such ways that others don't want to live near them. For the ll, it is money; for their neighbors it is their life.
  - tartoran 6y ago
    What does that have to do with sharing the loss but not the profit?
- ensignavenger 6y ago
  There aren't too many landlords earning 30% profits over the long run. If they are, they are doing an exceptional job managing those properties.
- AnthonyMouse 6y ago
  > But if the profit is 30% nobody’s getting it but the landlord. What profit? The landlord has a $10,000/month mortgage payment and 10 tenants who pay $1000/month rent. If three of the tenants stop paying their rent and you can't evict them and replace them with paying tenants, you still have a $10,000/month mortgage, so now you have to raise the rent on the others by >$400/month each just in order to make the payment. It's systemic, so all the other landlords are in the same situation and have to do the same thing, which means you can raise the rent by that much without losing tenants to the competition. The people getting the extra money that the other tenants are paying aren't the landlords, they're the tenants who are living there without paying rent because they can't be evicted. And you can imagine what happens when the other tenants can't afford the higher rent and stop paying too.