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I’m actually a landlord and my management company literally just has a list of all the rents being paid in my condo complex. Once I saw that I basically gave on
by zxxh 2y ago
I’m actually a landlord and my management company literally just has a list of all the rents being paid in my condo complex. Once I saw that I basically gave on my job as a SWE. We are just working for our landlords, you can’t win.
- neilv 2y agoDo you know how they got that list? (Do they just manage the property and collect condo fees, or do they also collect rents?)
- alchemist1e9 2y agoIn markets it helps greatly to have prices published publicly. Perhaps private rental transactions in apartment buildings should be required to be posted publicly?
- nothercastle 2y agoIf you monitor the public for rent posts you could mine that data over time. Most units turn over every couple years it wouldn’t take long to get a complete picture. You just wouldn’t know the incremental adjustment though you might be able to buy that from a broker
- neilv 2y agoI'm asking because it might be evidence of pricing collusion.
- sfifs 2y agoDepends on the market. For instance in my country, all rentals need to be register and the cost is public.
- neilv 2y agoWhich is why I want to know how they got that list.
- nothercastle 2y agoI don’t think there is significant desire to prosecute so non issue
- LeafItAlone 2y agoI’m not sure what you are trying to say here?
- addicted 2y agoI don’t understand it either. Wouldn’t the people who collect the rents in the building have a list of all the rents in the building?
- whoknowsidont 2y agoHe's saying that land lords were dramatically increasing prices because they could, in spite of supply and demand. Another reason why landlords need extreme oversight.
- chii 2y ago> increasing prices because they could, in spite of supply and demand. you mean _because of_ supply and demand, rather than in spite of? So to fix the problem isn't to regulate landlords (aka, attempting to legislate price controls), but to produce more supply.
- Findeton 2y agoIn my experience there are too many people that don't want to understand that.
- richbell 2y ago> So to fix the problem isn't to regulate landlords (aka, attempting to legislate price controls), but to produce more supply. It's both. Producing more supply works best when it isn't being sabotaged by landlords intentionally keeping units vacant.
- chii 2y ago> intentionally keeping units vacant. they should be free to do so. They have a holding cost, which they're going to have to pay. I mean, why don't wheat farmers intentionally hold sales of wheat to force the price higher?
- rco8786 2y agoYou saw that people were paying rent, so you gave up on your SWE job? I don’t get it.
- esalman 2y agoI think OP meant how much people were paying in rent. "We're working for our landlords"- bulk of people's salary is spent on rent, so it's more profitable to become a landlord rather than grinding and paying rent.
- SoftTalker 2y agoRent (or mortgage) is typically the single highest expense for most people, always has been. If your are paying more than a third of your income in rent, you need to downsize or get a better job.
- fouc 2y agoIMO if you're paying more than 1/4th of your income in rent, you need to downsize or get a better job. The 1/3 rule is crazy high IMO.
- esalman 2y agoAgreed, 1/3 rule definitely does not work in VHCOL areas. I pay 28% in rent, that cuts down the commute and allows us to live at a stone's throw from good schools, grocery stores and small airports.
- rco8786 2y agoObviously the lower the better, with 0 being the ideal for anyone. But most people cannot afford a reasonable home on 1/4 of their income.
- 38 2y ago> downsize or get a better job wow great idea, why didn't I think of that
- deleted 2y ago[deleted]