Depends on who you talk to. I personally am against making money off merely owning land or buildings, but that's just me. Most people seem to loosely define an evil wealth level as "significantly more than what I have".
this post was submitted on 09 Dec 2024
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Owning houses you don't live in is bullshit
I do believe a lot of landlords don't care and will make decisions based on what makes them more money versus the well-being of the people living in their property. But I don't agree that landlords as a concept are bad, and that they all should sell their extra properties to reduce the crazy prices we're having.
There are plenty of reasons someone would prefer to rent than to buy, and if there are no landlords or rental houses what happens to those cases? I personally have attended university not at my home city, and I rented an apartment with other students. It makes no sense to buy in that situation. People who intend to live somewhere temporarily would mostly prefer to rent, what would happen then?
There is a problem with regulation, big companies owning whole apartment buildings, and generally small greedy landlords what will make their tenants life hell. But cutting out the whole concept is trading one issue with another.
Renting is a good choice for people who can't immediately absorb big expenses. If your furnace quits, it can be really nice to phone the landlord and ask them to fix it. Homeowners have to have ready access to cash, and not everyone is in that situation - especially when they are starting out.
I agree with this. We have rented houses when we didn't want to buy a house. Even though technically we probably could have bought one, it's a pain in the ass to purchase and expensive to maintain and even now I'm not quite convinced it's worth it. Housing is important but not everyone wants to be a property owner.
It's more like the whole system is fucked, housing is too expensive and part of that is because of rental profit but it's not the whole problem. We paid less per year to rent than we do to own, for similar properties. Even though the landlords made money.
People who are renting out their basement or spare room are fine. They are living on their property and making space for someone else to live there as well.
Someone who owns property they do not live on, and are profiting off their renters just because their name is on the deed is the definition of parasitic behavior. There's a reason "rent seeking behavior" is a derogatory term.
There are parasites and there are big parasites. Being a land lord is inherently parasitic to a certain extent. And we were ourselves landlords for a while. When a job took us out of state, we didn’t want to leave where we were so we rented out our house for under market rate until we returned. In my opinion, we were still being parasites to a limited extent.
Meta commentary: note that "LEFTISTS" are not this bloc that is perfectly aligned. You need to ask the individuals whether they hate small scale as well as large scale landlords.
There is no universal "LEFTIST" belief. People exist at every point along the spectrum. Stop thinking in binary terms and you can have far more productive discussions with people.
Individual landlords can be the worst ones. Here’s what that often looks like:
- individual inherits a home
- they rent it out and quit their job
- the rent is their only income so they are really cheap about maintenance and repairs
- they make any repair the tenant’s “fault” and force them to pay for it
- they raise the rent at every opportunity to the maximum the market will bear, because that is the only way their own income ever rises
- they do repairs and maintenance themselves, even though they are unskilled, because that’s cheaper, and the quality of all the work is poor, using the cheapest materials possible (I once had a landlord paint our house puke orange because she got a deal on that awful paint).
Landlordism is parasitic. The point of Leftism isn't to attack individuals, but structures, and replace them with better ones. Trying to morally justify singular landlords ignores the key of the Leftist critique and simplifies it to sloganeering.
Thank you! Nicely put. The problem isn't people like your aunt, its massive shareholder-controlled investemet machines that own thousands or even millions of homes. Your aunt probably knows eafh renter by name - there can exist a personal relationship. There's two things limiting your aunt becoming a money-hungry antisocial ghoul:
- raising the rent is a relatively large amount of work for relatively small of a reward. If she raises rent she has to write these 4-5 renters a letter explaining why she has to increase it. Those renters might disagree, have objections, ask for reasons and proofs (like the central heating bill or maintanance costs etc). If she raises the rent by lets say 2% it's 2% of not that much money (with her single digit number if houses).
- she is raising the rent on people she knows. She is taking money away from people she even may like - have a personal relationship with.
So increasing rent is a lot of hassle and her renters might like her less after that - which might be a factor.
Now lets think of the hugr real estate company. They have thousands of renters and maybe hundreds of employees. They have lawyers employed. If they raise rent by 2% they have to send thousands of letters. But these letters are sent by people whose job it is to do so. Tyey can calculate in advance that from their renters X% will just accept the nrew rent, Y% will require some manouvering, Z% might move out and so on. They can estimate the cost of raising rent pretty well based on experience and compare to the profits they make. And with thousands of apartmants 2% is a lot of profit. The employees have no relationship to the thousands of renters. Renters are just numbers anyway. Everything is much more efficient. Also: Shareholders. They demand profits and dont't care how. They care even less aboht the renters. They demand more profit and will just say "make it happen". If thr ceo doesn't raise profits - with whatever means necessary - the shareholders will replace the ceo.
The soltion IMHO would be some progressive tax That makes it basically unprofitable to have more than 10 apartments. And to prevent legal entities owning other legal entities owning apartments in order to circumvent this. If there exists (and can reasonable exist) a personal relationship between landlord and renter everything is alright in my opinion. People usually are not animals to eaxh other if they know eaxh other personal.
And to prevent legal entities owning other legal entities owning apartments
This is one huge issue I have with our current end stage capitalistic system. If corporations are "people" then how can they own other corporations, which are also "people" right?
If shareholders want to own shares in multiple companies, they can still do that.
When people said "slave owners are evil pieces of shit" do they also mean the people who only owned 1 or 2 to help out with the family, or only the large plantation owners?
That's definitely not a great comparison 😂
All 4 mentioned parties are pieces of shit! ^Although ^2 ^of ^em ^are ^far ^bigger
Property can be affordable or an investment, not both.
Those using property as an investment are contributing to it not being affordable.
Does your Aunt get paid rent from the people living in those houses? Is that rent more than it costs to own and maintain the properties? Yeah, thought so. Yes, your aunt is a parasite. She is extracting profit from other people simply by virtue of being the one to own the property that she doesn't live in. She isn't providing value, she's restricting access.
She may be a lovely lady the rest of the time, I'm sure she lives a vibrant and full life elsewhere, but that doesn't change what she's doing. Nobody owns "a couple of houses as an investment" if they're not making money off of them, and they're only making money by extracting it from the people who have to rent.
Typically small landlords (I was one) are not the problem, But they aren't making things any easier. They still take up houses that they don't need that should be on the market, and they charge about twice what thier mortgage rate is to renters, which then artifically inflates housing prices, while also restricting home inventory. People with a handful of properteries aren't really the main driver of the issues though. One corporate landlord with 500 properties would do much more damage, but they all harm the market to an extent.
Well the proper lefty take is supposed to be that the system is bad - not that anyone who profits from the system is a bad person.
I'm sure your aunt doesn't mean any harm, but she is still part of the problem. Those 3-5 properties are 3-5 fewer homes available to own for new families and are a small part of perpetuating the housing crisis.
There are no good landlords. Every small landlord contributes to the housing crisis by hoarding housing that should be on the market for new buyers.