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> real estate speculation I suspect many wanted an arm's length almost passive investment, and so they are putting the maintenance burden on to their guests.
by JJMcJ 3y ago
> real estate speculation
I suspect many wanted an arm's length almost passive investment, and so they are putting the maintenance burden on to their guests.
Expecting cleanup for a three month summer rental tenant is one thing.
Expecting that for a three day guest is another.
- acdha 3y agoAlso, I’d bet there were some very optimistic assumptions about overhead – retirees often make terrible landlords because they’re trying to hit targets for monthly profit and don’t have enough liquidity absorb cost increases. I suspect a lot of AirBnB hosts were in a similar boat where something like rates for cleaners going up really eats into the margin they are counting on.
- JJMcJ 3y agoThe landlord who complains that rents aren't enough to make the mortgage, for example. In an area like Silicon Valley, someone who buys a small property new and tries to rent it most definitely will not make the mortgage from rent, especially a single family house.