In the next couple of years my husband and I will most likely be able to rent out a house. Though from what I have seen is that as soon some people find out you are a land lord they hate your guts.
I think it is safe to expect this trend to increase significantly.
The underlying cause is probably a simple matter of inequality and legacy advantages. That is not to say that it is impossible to rise above or that people should not try to, but for simplicity's sake if we roll time back to the 40s a house would cost you about 3000$, or the equivalent of about 2 to 3 years of salaries (median vs average).
If we instead consider the case today the median salary in the US is about 34 000 $ (median) and the average house (same metric as used prior) now sells for about 408 000 $. - A nice round 12 years of salaries. Average salary would cost you 8 years. This number is getting worse.
As such with buying actual living accommodations becoming an increasing pipe-dream - these are costs assuming you cease eating and living after all - to many while people who are already in possession of them (e. g landlords) can, and do, extort a wealth from their tenants of course some grudges appear.
The basis of landlords extorting their tenants also comes from a simple time comparison where average rent now is about 1-1.1K in the us for a total of about 37% of the entire median salary compared to 50$(I shit you not!) in the 1940s which equals about 5% of the then median salary. Of course this reads and feels like extortion to absolutely anyone looking at it. It also means that saving up money for a house, or several, used to be relatively easy.
And while you and your partner may very well have earned it yourselves somehow in the current market, most landlords have not. They simply amassed fortune in an easier time and are now reaping benefits that the present generation are denied a shot at.
So well, the vilification makes sense. Of course this is more of a government failure than landlords being evil. We all try to act in our own interest. Quite frankly if my rent was a twentieth of what I earn I'd likely own more than a few properties at this point. Who wouldn't?
I have never run into anyone who hates landlords, but I know that some people do. Some people seem to hate anyone who has money, and they feel like landlords are taking advantage of people by charging rent. With lower priced housing, landlords often don't take good care of the property because low priced houses are not worth putting money into. For example it's not worth putting 10-20K into a house that's only worth 40K.
A well kept house is going to have higher rent. People have a choice of low rent or a nice house. So many people are self-entitled and think they deserve both.
Now the other side of the coin. Landlords hate tenants who are nothing but a pain in the ass. Tenants don't pay rent on time. They totally trash the place. They don't clean when they move out. They have a bunch of people living there who aren't supposed to be there. They don't move out when they are supposed to, and force the landlord into a lengthy and expensive eviction process.
I'm just saying the more people do this the higher house prices get. We end up with a housing shortage because majority of them are vacation homes or are being rented out.
@Smashingdoozy some places in the south of England and places like Lake District it’s almost impossible for anyone under 30 to buy, unless they have a large deposit.
They will get a flat or a small house.
Throw in a large student debts and almost zero saving % interest, trying to get a large deposit.
Also with two people earning $40000 a year, max mortgage is $382327
The thing is prices are far more than that.
This then means people can’t buy so must rent,,, guess what rental prices are similar to what you would pay for a mortgage. Now try saving for a deposit with renting and paying student loan back.
@harleigh90 house prices and buying a House where you live..
@chrismaster69 My 1 bed flat in Surrey about an hour from Central London, cost £245.000 with a deposit of £25.000 I now pay £900pm just mortgage. Work my back side off for 10 years to save for that deposit, while living in shared accommodation, studying and running a business. During covid I almost gave up. It 100% can be done, with two of you and a lot of determination.
@Harleigh90 yeah of course it can be done. in certain places. Have a friend in NZ who is completely priced out, it's fucked over there you need at the very least 600k to get a shared property.
@Smashingdoozy Thats ridiculous! It's so insulting to the hard working younger generation as well. Iv always said if you afford a rent from a landlord you can afford to buy. That deposit just kills people.
Tough racket being a landlord. I have a friend that rents out apartments. He's told me some stories about departing tenants. You'd think animals lived in these places after he's gone in and described the conditions the apartments were left in. Disgusting. And most of the legal rights seem to favour the tenant more than the landlord. And he tells me that some folks get down on their luck and he's torn between wanting to let them slide on the rent and having his own bills to pay. And evicting people is his least favorite option, especially if there's kids involved. He really hates it. But you can't let people live for free unto infinity. And he's had to do it. I think people hate landlords because they envision them as ultra-rich vultures that just sit around counting all their money. Some are. But a lot of landlords aren't rich. They have all their money tied up in these rentals, a lot of investments, and they simply need tenants to pay their rent every month or they'll go under. They don't have vaults full of cash to cover deadbeats or the mess some of them leave behind. Anyway I wish you and your husband luck with that enterprise. I hope you do well. Really.
Thank you, My parents rent out some property that they have and have been very particular with their tenants and thankfully have never really had an issue. If it were me I would hire and rental agency to deal with the day to day responsibilities.
I think the name land lord within itself is vilifying. My wife and I own a rental portfolio out of state. We live in CA, and all laws favor the renter, so we didn’t want to take that risk. Property manager takes care of everything. I think people automatically associate wealth with greed and nasty characteristics. Truthfully, some of the nastiest people I’ve met have been broke rather than wealthy.
Real estate is a trickier asset class to make money in because it’s not just a numbers game. You’re providing housing for real people, and that should be taken into consideration. A lot of our properties are in Dayton, Ohio and it’s lower income. When covid-19 happened, we made contact with a lot of our tenants and let them know we won’t charge any late fees and will work with them if they lose their job. Every year my wife sends out a little gift basket for the holidays. Those little things make for loyal tenants who will respect you and take care of your property.
It’s a fine line, because you also still need to treat it as a business and can easily be taken for granted if you’re too relaxed about certain things. Ken McElroy has a great book on property management and real estate investing in general. David Greene from BiggerPockets is also another I’d recommend.
where i'm from i've tried to take numerous landlords and property managers to court over code violations and other issues regarding tenants and safety concerns but these crooked scumbag lawyers only represent landlords and property managers never the tenants
Anything that disproportionately causes the wealthy to benefit and the poor to suffer, tends to be unpopular. There's a housing shortage, and when too many people want to "buy to let" it drives house prices up to artificially high levels, which prices a lot of people out of the market (working hard is no longer enough - you *need* help/inheritance from parents) which in turn causes rent to go up as well, which makes buying to let more appealing, and so the cycle (some might say "bubble") continues...
I happen to live in a very beautiful rural area, popular with tourists. Average wages here are much lower than the rest of the country, and there's a *huge* problem with people from wealthier areas buying up all the houses as second homes or holiday lets, driving up the prices so people whose families have lived here for generations now don't stand a chance of being able to buy a house. What's more, it's not even easy to rent here any more - this summer there were 10,290 airbnb listings in the county, compared to just 69 houses being advertised for long term let. Of course, in the winter, most of these houses are empty, and it's like a ghost town.
I'm sorry did you just say "There's a housing shortage" in this or even let's say the most populated country in the world, you know China? I don't think you have been keeping up with just what a problem there is with an extreme over excess in the housing market that has the entire world concerned about the total collapse that may bring countries down. Here ya go, something to give you a wake up call: www.bloomberg.com/.../china-evergrande-crisis-furious-property-investors-demand-government-action
There are some landlords that do suck but also some that don’t.
i like to be more on in the latter.
i do it as a business and investment, however I appreciate it’s real people with real lives and problems.
over lockdown and furlough I halved all rents and in a couple of cases, worked out a legal contract where they paid no rent for a given period. They did however have to pay a% back from next January and will lose deposits.
As for basic homeowners, they don’t get vilified here.
Well let's just put it this way. If your on the poor end of things, and you rent a place normally the landlords don't bother helping take care of maintenance. But then also the poor person is kinda stuck into a position of not wanting to ask them either. Because if they fix such problems it can make the place more appealing to just rent to someone else with more money or put up rent.
So it basically becomes put up with it or your out. But it's kinda daft when this starts happing with basically everything in that house. You might as well just be paying for walls. And it's pretty obvious the landlord would be aware of this too but they keep you in that position to see how long you will keep paying them for there lacklustre effort or when you will complain and they boot you out or put up rent.
I am sure this happens on levels of wealth, but at least at more moderate wages the person would have a better choice about just paying a bit more or moving.
This is to keep the rent down. You have a poor person living in a dump. The landlord can either fix it up and make it beautiful and now its worth twice the rent but the person living there cannot pay so they need to evict them. Or they can leave it as is so the person can stay because its affordable. The reason why places are so unaffordable is rising inflation. If we lived in a stable inflationary economy and one without government controls on housing and employment the rents would stay quite stable however thats not the case so rents need to increase year over year to keep up with inflation.
@bamesjond0069 So you blame it on government and inflation, and probably suggest anarchy too? and maybe without probably knowing much about those 3 words. But if you do and are suggesting such things then that's one point of view that for sure exists. But my point of view is socialism would fix things not anarchy so i want the government to control housing for sure and have no private property therefore things would be more stable. But if you think people just making up there own prices on there own whim and full control seems like it would work, then carry on to think so just i don't agree. Since there the problem in the first place not the government. But it would be pointless to argue about such things if were both on opposites sides of the spectrum like this.
Um no. I just dont think the government should have inflationary money which is purposely done as a tax on poor people. Nor should govt do things like have an eviction moratorium.
I dont think socialism would fix anything because either its done through lower socialism like UBI in which there is extreme inflation which will just make all rent increase basically to whatever the UBI payout is. Or through extreme socialism policy like communism control levels in which there is no benefits to building houses or apartments and there will be shortages unless the government builds its own housing which historically government housing looks like your local city projects at best and refugee camps at worst. Not sure thats an improvement for most people.
Eh inflation is fine but people often get weird ideas about it, which is a common problem people have, they blame a lot of things on inflation, but inflation matters not. Since what actually happens as things get inflated all they do is pay more wages so it evens out. That's why today we don't have half a dime no more or have things that cost 5 cents for a comic. Because that comic is now about couple pound these days but we also get paid in quite a lot of pounds for our work. We don't get paid nickels no more.
Inflation just means in years and years time £100 will been seen as the next pound and we will be getting paid £900 a a hour. Now I do understand in America though for some odd reason, they really bad at putting up minimum wage, which completely screws everyone over because inflation would demand more minimum wage. Over here we don't have such problems.
And socialism would stop inflation all together if they did it right. Not that i think inflation needs to be tbf. But socialism would mean they could have a flat rate for everything due to the fact everything can be more controlled and businesses cannot just price things up when they want. It would become more of everything will always remain these set prices, just like houses would all be ideally built equally therefore ones rent cannot be more than another if there the same. It would become a more regulated and easier thing to handle money if everyone is on a equal level. No filthy rich no extreme poor. And they can pretty much pay everyone the same amount therefore no one ever feels like there something they cannot buy since all the things to buy would be within range of that money. Idealistic but would work.
Then UBI is not really socialism i know it could be aruged it's sorta socalism but not really, it's more of basically a supplement for capitalism that is the problem in the first place with companies been able to increases prices when they want and other things.
So overall, i don't think it's a problem as such and the way to actually solve it tho ironically is an aftereffect of the way i want things to go. And anarchy simply means to make the government has less control in affairs, and become smaller which would be ideal for your lines of thinking if you don't want such government to control housing and etc.
I always hated rented out houses. If I can't sell it, I rather leave the house empty from now on.
I had renters that sub rented out the house and moved a drug dealer and Method cooker. House gets raided, drug dealer destroyed the House. What ever they didn't destroy. The cops finished it off.
Then I get fines from the city because of the shape of the house
I had people not pay rent and had to take them to court
Had a renter remodeled the house without my permission and cause multiple code violations. Again made the house unrentable
And bunch of other BS
I will sell from now on, screw try making extra money. Most likely you will loose it in repairs or damage done by renters
@Rob17792 I tried to take people at face value. I hated the idea of doing background check and all the BS they do now.
I even rented to. my own kids and they screwed me over to.
I just sold the place for pennies on the dollar. Just to get rid of it. In the end it would have been cheaper to tear the house down and build a new house for a little less money.
Thats how bad the damage was done to house.
Pitty and all I wanted was an investment, not a money pit
It depends on how you are. Have you ever been a renter? Someone that had to pay a landlord?
I have. I have had just one single landlord that i was ok with. She was friendly, took care of issues usually with in 24 hours, unless it was a weekend. And because of that i was with her for 8 years as a tenant.
Every single other landlord i ever had was impossible to reach, and would only fix things if i threatened to not pay rent and instead hire someone to fix it.
The reason landlords are so hated, or vilified, is because for every good one there are 50 bad ones.
It's people that have a certain amount of control over you, that's already a dislike to most. "I want to check out the house tomorrow" - "Tough shit, I don't feel like cleaning today", generally not acceptable, lol. I had some bad experiences with a few homeowners who were very annoying and I heard from them like once a month if not more often, I don't even want to know that you exist, I want to live my life. Without having to act like I'm the best renter, preferably. I'm messy, deal with it.
Most people who have to rent, resent the fact they will likely never be able to own their own house... through no fault of their own. Prices of houses in many areas have gone up SIGNIFICANTLY over several decades and it's not a realistic option anymore in some areas even in spite of earning a decent income.
as long as the land lord is polite and honors their side of the agreement i dont much care. I'm on pretty good terms with mine tbh. We're somewhere between friends and acquaintances. she doesn't really bother me and gives me a lot of flexibility. Just no painting or decorating the walls. Sucks having all my walls just white and boring but i can do pretty much whatever I want. she even let me have a dog so that was nice.
Envy and entitlement. Some people for one reason or another can’t afford to buy a house.
There are legitimate qualms about (mass inflation in the real estate market). But also people have made made bad personal decisions (not saving or planning) that has also lead to their predicament. Now they just want to point their fingers and complain. It’s a two way street.
I have a rental property too, and I think some people do look negatively on landlords thinking they are getting rich off of someone's misfortune, which is not the case 99% of the time. I'd say ignore them as quite a few of them are just jealous you have put yourself in a better financial situation than them.
Because you're authority and demand money and accountability by the renters. Any renter that hates the landlord before having years of faulty plumbing and heating and no assistance from the landlord to fix said issues is one step up from government housing and living on foodstamps.
Fuck ‘em. Some people just refuse to accept that you have to put in some effort in some form to get ahead in life. Sure life would be great if we could just get everything for free but that’s just not reality I plan to pick up a couple rentals in the next few years, I want to be able to kick back and not worry about money while I’m still young enough to enjoy it
Depends some are slumlords and allow dirty ghetto people to move in & some do dirty tricks such as moving people in to get extra money & then saleing the rented property out from underneath them. But renting a house from a good landlord is better then an apt because some apts are ran with dirty stupid people no matter how high the price is. It's a smart business venture but it can be looked at in so many ways.
I have had tight arse landlords who try and ‘fix’ everything themselves- they apparently claim they are a qualified electrician, plumber, etc. if landlords do the right thing and not cut corners they are appreciated not hated.
Let me rephrase, landlords profit passively from holding a deed and not from any productive labour, benefiting idly from a system that gives you a mortgage and not to those who can clearly afford it in that they pay your rent but cannot qualify for a mortgage. There is no such thing as an ethical landlord.
@Zeldaismyqueen Now exactly why is it that these oppressed renters can afford to pay rent and yet can't qualify to get financing for a secured loan? Granted, since I am a veteran and that allowed me to get a VA loan to finance my home, even if I did not have that option available, there are so many programs and ways to become a homeowner... that renting has only been an option for on a short term basis.
For that reason alone, I refuse believe that renters are exploited, since there are benefits to renting and do so in order not to have pay the property taxes, school taxes and the multitude of expense that must be met as a homeowner. In that sense, I don't believe in an ethical renter as being anything other than doing so for their own convenience.
I doubt that those renters would be happy if they suddenly could no longer had that place to rent. With everyone having to go through process of financing a home. Having do on short basis would be a nightmare. Landlords provide an in demand service that must be available for people to be able to have place to live. Somebody has to do it and I'm glad that some people have the means to be able to do so.
@Zeldaismyqueen so building a house is not labor? Maybe landlords should just sell the house for labor. And since you seem to think mortgages are unethical... landlords would be great people if they just sold all the labor for say market value cash only. wouldn't that be ethical? Smh. You know that would make most people homeless right? Excuse me renter paying $1000 a month. What I've been doing is unethical. So either but the house now for $300k cash or move out. aren't i such an ethical good person for doing this? *facepalm*
@bamesjond0069 building a house is labour sure, you should be paid for that. And paid well! You shouldn't be paid to just sit around and collect rent cheques though. That's exploitation, and you're an ass for doing it.
@Zeldaismyqueen So, what is your solution to this? If there are no longer any landlords (since they are so evil they should not be allowed to exist) and thus no places to rent... Yet, you can't qualify for a mortgage since the skills you have will not allow you to make enough money to do so. Now what? Hoping you can live with your parents until they die and inherit their house... and continue to live there? Is that your plan on maintaining a place to call your home? Perhaps, you feel that the government should provide you free housing?
@Jaumet non-profits, co-operatives, social housing. There are whole neighborhoods in my city that are all co-operatives, and it works amazingly well. Beautiful 3 bed places near a subway stop, what more do you want?
@Zeldaismyqueen but you didn't answer my question... "Excuse me renter paying $1000 a month. What I've been doing is unethical. So either but the house now for $300k cash or move out. aren't i such an ethical good person for doing this?"
@Zeldaismyqueen Nah, I've lived in one of those communities before with their co-ordinators and covenants. Nope, too much like a Jim Jones "Jonestown" place to ever be acceptable.
because most landlords are slumlords. they rent out apartments that are run down with building code violations and they rent to ghetto trash people who buy and sell drugs and blast shitty ghetto rap music
where i'm from i've tried to take numerous landlords and property managers to court over code violations and other issues regarding tenants and safety concerns but these crooked scumbag lawyers only represent landlords and property managers never the tenants
in my state trying to take a landlord or property manager to court isn't cost effective and no lawyer will represent a tenant or if they do they'll be extremely shitty at it and will cost a fortune to do because the landlords and property managers pay off city councilmen and when i confronted the attorney generals office about the bribery and payoffs taking place by the property managers and city councilmen one of the guys who works for the A. G. didn't deny it when i called him out twice on it but when i spoke to a woman about it at the A. G she told me oh if that were true they would be arrested and i told her well why aren't they and i told her i was going to start naming names and dropping names and when i said that to her she turned white as a ghost and didn't say a word and was in shock dead shock. my counselor was the same way doesn't say a word when i tell him as well and about to drop names as to who's getting paid off to look the other way on code violations and other safety concerns taking place
trying to take a landlord or property manager to court in my state is almost impossible if you're a tenant since no lawyer is willing to represent you in court
Part of it is because of the AirBnB era, and there are people who just don't like that notion of the place they live next to could be rented tenants. Also pandemic fights between tenants and landlords over rent money.
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No idea. I own my home and the land it's on. I've even had people on here tell me I should give up my land to the poor and to stop being greedy. I dont get people
This is mostly true in fully deregulated housing markets. The view on landlords is not the same in eg. Sweden, where the market regulates itself. But housing prices are still out of control even here.
26.4K opinions shared on Society & Politics topic.
People. especially liberals want what you have worked hard to achieve. They believe that nobody should have to work hard and everything should be free. This is Obama's America.
I would never ever rent a house. I will buy one but never rent one, simply because if you decide to leave their's no money back from it. All your basically doing is buying a apartment. I rather not do that
I'm a landlord and my tenant thinks I'm the best thing since sliced bread !!! :) Guess it's because I take care of the property, and I expect my renters to do the same.
I love these comments. So i guess you think people who can only afford the lowest of low rent should be homeless? If those landlords fix the places really nice then they can and financially have to rent to people who will pay what those rents go for. So if a guy has a slum house and he rents it for 400 a month for a single parent of 5 who lives there. He fixes it up which costs him maybe 10,000 and now it rents for 1200 just like all the other homes. Where does this single parent with 5 kids live now?
@bamesjond0069 no I think the living space should be a livable condition. To start with. If you’re going to have low income housing in an apartment or a actual house. Then it should be in a livable condition. That means the toilet should be working and at least be up to code. Also if y’all both put in the work to fix it up then he should be able to give the money time an effort that it took to do that back to the occupant. Especially when they leave. There’s already a bunch of gentrification happening everywhere. So it’s already pushing people out of neighborhoods. Have you seen the show “shameless”
I haven't seen the show. What you're saying is still gentrification. You either must have gentrification or slums. There is no scenario where neither is happening. Whats generally best for poor people is having options and neither extreme gentrification or extreme slums and its happening at slow even rate.
There are people renting garages to live in that have no toilets for even cheaper. there's always a person in a worse situation. If there truly had to be a working toilet even to legit force that would cause some man paying $100 to live in a storage shed to be homeless now. Im not saying thats how things should be but thats how things are. Its an observation about reality of housing.
Generally gentrification and slums are brought about by market forces primarily demand not supply in this instance. So if some rentals turn slums or if a neighborhood is gentrified its because thats what renters want. If a house with holes in the wall and leaking pipes is so disgusting and terrible nobody would rent it... except if someone prefers a rent they can afford more than a nice place they rent it. Its that simple. These processes are as a whole happen to cater to renters desires.
@bamesjond0069 honestly where are the Pham it is currently happening both sides involve situation. What is scenario there is this slumlord who was in a custody battle over his property he never fix anything then gentrification came in for Waze 830 day notice for all of the tenants and the tenants could not come back and everybody had to go to different places. It may not happen where you’re at but in these cases it is happening and some in at the same time. The tenants had to still pay their rent then where is the new owners coming in they had to pay them as well so they didn’t know who to pay. It was a whole mess matter fact oh neighborhood just about got bought out and everyone was given 30 day notices. If you didn’t on your home there was nothing you can do. And the houses were in that shape no one was coming out even if they called so some tenants put in work on their houses by themselves did not get paid for them when they were pushed out at least that they did
Well thats great you feel that way... and whats the solution? Nobody in the entire world has been able to figure it out. I don't know why you would hold it against landlords
@bamesjond0069 I only hold the landlord that doesn’t up keep their property. Such as working toilets or broken windows. People are still paying their money and work hard. Even if they make as much as as some 6 figure salary person. Have some decency.
There are some solutions out there. Such as bill assistance programs, squatters right, homeowner program that help with understanding taxes and rent to own projects. Conclusion treat your tenant with respect not scum they are doing the best they can with what they have. If owners doesn’t want to take the time to fixed there are way to do so. Even case the renters put in so much work kept up property taxes and win the property legally.
Sounds great but thats not how real life works. And this is why many places have homeless problems. Places like california give homeless people beautiful little townhouses to live in and they have terrible homeless issues and terrible housing prices... they do everything wrong basically.
@bamesjond0069 that’s not right you know there are tenants unions. It’s happening all over. And some win. And we do live in the real world and people have power. It’s how you use it or if you choose to just stay the way it is. There’s homelessness everywhere.
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