5 ms·

I've heard this a lot, but is it true? I know some flats are empty because they're between tenants or being renovated, but how many are actually empty for years

by crummy 6y ago

I've heard this a lot, but is it true? I know some flats are empty because they're between tenants or being renovated, but how many are actually empty for years at a time? The idea that not earning any rental now (and paying tax on the place) in the hope that you'll bump up prices years down the line seems risky to me.

omnimus 6y ago
I am not sure. I know how is it in my city. It got bought out by few foreign companies. The property tax is not very significant compared to having much higher rent in a year for foresable future. Don't forget if nobody is renting then nobody is "destroying" the property. That's other tactic. You reconstruct everything so its "too good" to be rented cheap. This way you lower the pool of "normal" flats so their prices go up to a point where the "too good" is the only option. It's apparent from the increasingly huge differences between rent prices. Often times the longtime landlords who own maybe one building are renting so it makes them enough money to take care of the property + good profit on side and they are happy. They don't check market prices often and are 30%+ cheaper. The rent prices are completely fabricated with no relation to running costs or price of the property.
- literallycancer 6y ago
  Of course you will renovate it and rent it out to the top earners. You know what else? You'll ask for the highest deposit allowed since it doesn't cost you anything and filters out the problematic tenants. You can do it differently when you are on the other side of the table. However you'll soon find out that most of these things are done for a reason.
  - omnimus 6y ago
    It's pretty obvious that it's done for gatekeeping. Besides that whole insulting idea that lower middle class will trash your property. Much more important question is that who has the right to live in a city. Maybe most of the people living in there, people who give that city its purpose and take care of it, want older cheaper flats. Maybe these companies misjudged their customers and are just forcefully trying to feed on peoples need to live somewhere.
    - literallycancer 6y ago
      It may be insulting to you, it might be true that you or the people you know would never trash a property and still at the same time some people in your demographic might behave like that. Since it's zero cost to exclude the whole group, that's what the owner is going to do. People with money are not perfect or of inherently better character, the banker that does coke on Friday is just less likely to use the floorboards as kindling compared to a junkie with more congruent background.
      - omnimus 6y ago
        Wow now you threw lower middle class into same group as "floorboards as kindling". It has not been my experience with renting out flat at all. Username fits i guess.

by crummy 6y ago

omnimus 6y ago

I am not sure. I know how is it in my city. It got bought out by few foreign companies. The property tax is not very significant compared to having much higher rent in a year for foresable future. Don't forget if nobody is renting then nobody is "destroying" the property. That's other tactic. You reconstruct everything so its "too good" to be rented cheap. This way you lower the pool of "normal" flats so their prices go up to a point where the "too good" is the only option. It's apparent from the increasingly huge differences between rent prices. Often times the longtime landlords who own maybe one building are renting so it makes them enough money to take care of the property + good profit on side and they are happy. They don't check market prices often and are 30%+ cheaper. The rent prices are completely fabricated with no relation to running costs or price of the property.

literallycancer 6y ago
Of course you will renovate it and rent it out to the top earners. You know what else? You'll ask for the highest deposit allowed since it doesn't cost you anything and filters out the problematic tenants. You can do it differently when you are on the other side of the table. However you'll soon find out that most of these things are done for a reason.
- omnimus 6y ago
  It's pretty obvious that it's done for gatekeeping. Besides that whole insulting idea that lower middle class will trash your property. Much more important question is that who has the right to live in a city. Maybe most of the people living in there, people who give that city its purpose and take care of it, want older cheaper flats. Maybe these companies misjudged their customers and are just forcefully trying to feed on peoples need to live somewhere.
  - literallycancer 6y ago
    It may be insulting to you, it might be true that you or the people you know would never trash a property and still at the same time some people in your demographic might behave like that. Since it's zero cost to exclude the whole group, that's what the owner is going to do. People with money are not perfect or of inherently better character, the banker that does coke on Friday is just less likely to use the floorboards as kindling compared to a junkie with more congruent background.
    - omnimus 6y ago
      Wow now you threw lower middle class into same group as "floorboards as kindling". It has not been my experience with renting out flat at all. Username fits i guess.