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> property owners provide almost no value I think you have no idea how much things break and need fixing. I have a friend that owns a few houses that he rents
by dukeofdoom 4y ago
> property owners provide almost no value
I think you have no idea how much things break and need fixing. I have a friend that owns a few houses that he rents out, and it's a part time job just keeping up with fixing things. Between them, there's a few thousand items that can and do break and need maintenance. He would not be profitable if he hired out to fix things. Outside Labour can easily be $100/hour and if you need something even a little bit more serious its easily $1000/day.
This is the hidden cost of manufacturers making things as cheaply as possible, and often out of plastic. Property taxes and utility bills and problem with tenants. Navigating disputes, noise complaints, missed rent, move outs and move ins, signing new lease agreements, landscaping, leaky plumbing, damaged flooring, overgrown trees, it's endless. It's a part time job.
- rcpt 4y agoThat's property management, not property ownership. Maintaining and improving structures is work. Nobody disagrees with that. Simply owning the thing is not work. Churchill said it best: https://www.landvaluetax.org/history/winston-churchill-said-it-all-better-then-we-can https://www.landvaluetax.org/history/winston-churchill-said-...