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I was a landlord. I preferred to receive the rent late from someone that didn't want to be evicted. The maximum profit is renting to someone that can barely af
by hermannj314 5y ago
I was a landlord. I preferred to receive the rent late from someone that didn't want to be evicted.
The maximum profit is renting to someone that can barely afford to pay, but also desperately doesn't want to leave. In total, I probably made a 13th months rent each year in fees. You are leaving money on the table renting to people that can afford to pay on time.
- ModernMech 5y agoYou're proud of the fact that you exploited your tenant's desperation to extract an extra month's rent when they can barely afford 12? For everyone wondering why landlords get a bad reputation, this right here is the reason. It's also what people mean when they say "It's expensive to be poor".
- hermannj314 5y agoYes, I am fine with it. There are a lot of nuanced variables that are hard to enumerate, but maximizing revenue is not evil. My tenants voluntarily chose to sign a rental agreement, were aware of the terms of that agreement, I was always in compliance with all applicable laws on rent and fee collection, and when my tenants lease was terminated, it was always voluntarily and with all parties leaving on good terms. I agree it is expensive to be poor, but I disagree that maximizing fee collection is why people hate landlords - lying about terms in the lease, violating local laws, denying applicants based on protected status, refusing repairs, trespassing, unlawful evictions, etc. You can hate me for what I did though, I can't change that. I wish you luck.