4 ms·
"Damn tenants, paying rent and then acting all "entitled" to having a home and not buying gifts or thank you cards for their landlords!" Really? Some tenants
by autoexec 4y ago
"Damn tenants, paying rent and then acting all "entitled" to having a home and not buying gifts or thank you cards for their landlords!" Really?
Some tenants really are just terrible, and I can sympathize with landlords stuck with the messes they cause, but I'd guess that far more often good tenants are being overcharged for rent that goes up every year in amounts far exceeding any increase to their income, are screwed out of security deposits they should have gotten, are forced to let strangers into their homes with little to no notice, and all while having to deal with the countless other indignities that so often come with rental living (forced to get up at 5am to move your car every morning there's half an inch of snowfall, old inefficient appliances, putting up with loud neighbors and a general reduction in privacy, running out of hot water, etc).
You can argue that anyone who doesn't want to put up will all of that should just buy a home, but I think many if not most renters would much rather be home owners yet simply can't afford it. They've got little choice but to rent and because of a huge lack of affordable units are often forced to pay more than they'd like for housing. Just a couple generations ago home ownership was far more accessible and a little before that it was commonly attainable on just a single person's modest salary. Because home ownership is out of reach for so many landlords have been able to take advantage of the situation. As for renters being litigious I'm guessing most couldn't even afford a layer while property management companies have far more resources giving them a huge advantage in our pay-to-win legal system, the laws themselves are often stacked against renters too. Renters also have a reputation at stake as well. Depending on the area, a bad rental history can limit your options severely.
Landlords can have a difficult time too, but I don't think renters brought this on themselves, I think properties have been being bought up by investors (foreign and domestic) who would rather list those properties on airbnb where they have fewer regulations and tenant's rights to worry about. It lets them rake in fast money at variable rates often from wealthy vacationers as opposed to being locked into year long leases from families and professionals looking for a home. It's lower risk since vacationers don't often have problems paying because they were laid off or because they got sick and were unable to work. It's a great deal for property owners, but it drives up prices and limits options for everyone else.
- hitovst 4y agoWould you rather more revenue, and deal with happy, and appreciative, tenants, or less revenue, more liability, and adversarial tenants?
- autoexec 4y agoI agree, the core of the issue that real estate investors are incentivized to act this way. Whatever makes them more money is going to win every time, which is why when the things that make them the most money are pushing costs and problems onto the public (and the housing market in general) we need regulations put in place to restore order. I imagine a lot of the problems could be improved with zoning changes limiting the amount of properties that can be rented out for short terms, and by shoring up tenants rights to cover gaps in protections for renters.
- hitovst 4y agoI'd suggest that regulation is typically the issue, and it is in the case too. Investing in real estate is not for everyone, and not just based on the merit of one as a landlord. Some states are complete nonstarters unless you can pay for influence. The only legitimate role of the state is to defend the inalienable rights of the individual. They should not be interfering in contracts. This type of meddling overreach is usually the issue, but is always an issue. There are many consequences, both intended, and unintended, and recognized, and unrecognized.