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Landlords do provide value. The issue is that underlying asset they are renting is so massively and insanely over valued. If you could get housing for 10% of in
by Ekaros 3y ago
Landlords do provide value. The issue is that underlying asset they are renting is so massively and insanely over valued. If you could get housing for 10% of income, even 50% margin on top of that might make sense in many cases. As landlord would provide some value, like not needing to maintainenance and not needing to transact with property when moving.
- s1artibartfast 3y agoExactly. The main service/value a landlord provides is converting a massive down payment into a monthly payment and providing credibility to the bank. Maintenance is largely ancillary. Im a landlord. Maintenance is only like 2hrs of my labor per month. However, the unit purchase represents about 10,000 hours of my labor. The renter gets to pay maybe 40 hours of worth of labor per month.