Current Events > Maybe landlord should just pull themselves up by their bootstraps stop being

(+) Yeah! (+)

SamuelLJackdson posted...

The dunking on landlords is so weird to me. Lets classify as someone being evil for making a smart financial investment.

we're not classifying them as evil

---

CE_gonna_CE posted...

So is August landlord topic month and were done with pitbulls?

There will be an aftershock, but for the most part, probably.

---

Returning_CEmen posted...

Landlords usually do have jobs. The property is an investment for them, like stocks.

then they should be prepared to deal with the risk of not turning a profit, or even losing money on it. you know, like other investments

---

SamuelLJackdson posted...

The dunking on landlords is so weird to me. Lets classify as someone being evil for making a smart financial investment.

It's no longer a smart financial investment when they are losing money on it. Not sure why landlords think they are immune to investment risk.

---

Let them evict so they can make money off people that can pay the rent duh.

---

theAteam posted...

It's not longer a smart financial investment when they are losing money on it. Not sure why landlords think they are immune to investment risk.

This. When renters cant pay rent, theyre evicted. When investors lose money on the market nobody bails them out. When corporations and landlords start to lose though they get bailed out or cry about it.

I dont feel bad for them. Now you have to play the game of life like everyone else. Theres risk. Deal with it.

The people that arent paying rent will have to deal with the consequences too eventually.

---

Questionmarktarius posted...

That's how class warfare works, yes.

The average CEman must be dirt poor and living in their parent' basement. That's my takeaway from all these landlord topics.

My Sister has a small house from the 1950s that she rents out to college students for like $1000 a month and her mortgage is around $500 a month. That's just being smart with the little money you do have.

Lonestar2000 posted...

Food prices haven't exploded like housing has.

Kind of a different argument though. Food prices are prohibitive for lots of folks.

---

The problem with bunching all landlords together is you're mixing in the companies that own 40 housing complexes with the small time dudes like me who own one house and rent out half of it to someone. Am I an asshole for doing this?

What would you have me do? NOT rent it out? I can do that too but then someone, somewhere, is out a house to live.

---

Lonestar2000 posted...

Food prices haven't exploded like housing has.

this is right.
---

kelemvor posted...

The average CEman must be dirt poor and living in their parent' basement. That's my takeaway from all these landlord topics.

My Sister has a small house from the 1950s that she rents out to college students for like $1000 a month and her mortgage is around $500 a month. That's just being smart with the little money you do have.

Is it smart or is it selfish? You just said yourself what is a $500/mo home is now $1000/mo simply so she can profit. Now apply that to the entire economy and maybe you can see why people dont like landlords.

Rent prices artificially inflated due to false scarcity so a select few people can make a profit. Sure its smart glad shes making money but dont expect everyone else to kiss her ass for it. Landlords say people should just buy their own home when they are jacking up prices making it harder for less fortunate people to do so.


---

I hate socialism. Entitled bunch of crying babies.

---

Beveren_Rabbit posted...

land lords aren't as rich as you think

Then its time for them to sell every5ing, down to their refrigerator if they have to.

---

shiby with it posted...

I hate socialism. Entitled bunch of crying babies.

How dare people think they should have a home!

---

MrDrMan posted...

How dare people think they should have a home!

They don't own it lol

---

kelemvor posted...

The average CEman must be dirt poor and living in their parent' basement. That's my takeaway from all these landlord topics.

My Sister has a small house from the 1950s that she rents out to college students for like $1000 a month and her mortgage is around $500 a month. That's just being smart with the little money you do have.

She needs to let the students deal with buying and selling the house every other year. It's only a few thousand to do and a bunch of time

---

Fucking farmers and grocery stores exploiting peoples' need to eat for money. Makes me sick.

---

WrkHrdPlayHrdr posted...

The problem with bunching all landlords together is you're mixing in the companies that own 40 housing complexes with the small time dudes like me who own one house and rent out half of it to someone. Am I an asshole for doing this?

What would you have me do? NOT rent it out? I can do that too but then someone, somewhere, is out a house to live.

recognizing landlording as an inherently exploitative practice is descriptive. telling someone what they should or shouldn't do is an entirely separate conversation

---

ThePrinceFish posted...

Fucking farmers and grocery stores exploiting peoples' need to eat for money. Makes me sick.

If the landlords were settling the land and then building the houses, you might have a point.

---

They are, by running a business that people are paying them for.

averagejoel posted...

then they should be prepared to deal with the risk of not turning a profit, or even losing money on it. you know, like other investments

landlords should have a 3 month buffer for unexpected expenses, but a year and a half of tenants not paying rent due to a pandemic is going to hurt everyone.

---

shiby with it posted...

They don't own it lol

Because assholes bought all of the houses so they could rent them out.

---

ThePrinceFish posted...

Fucking farmers and grocery stores exploiting peoples' need to eat for money. Makes me sick.

Grocery stores aren't creating a food scarcity and charging ridiculous prices for something the person doesn't even get to own

---

averagejoel posted...

recognizing landlording as an inherently exploitative practice is descriptive. telling someone what they should or shouldn't do is an entirely separate conversation

I get what you're saying and just to be clear I'm not saying I'm okay with the large companies that buy whole complexes and that's how they make their money.

But SOMEONE has to own property. And there's properties that are set up or were built to be two different apartments. So no one should own those? Only someone who plans on turning apartments into one large house for them should be allowed to own it? Like there's realizing there's a problem, and then there's fixing it.

---

theAteam posted...

It's no longer a smart financial investment when they are losing money on it. Not sure why landlords think they are immune to investment risk.

You think it's investment risk when someone is robbing you?

How else would you classify tenants not paying and staying in their rented property?

---

Squall28 posted...

That doesn't change what the stance is unless you are one of those my guy vs yours people.

so trumps a lefty now?

theAteam posted...

This. There's literally more money allocated by the federal govt towards rent relief than the amount of rent debt that currently exists. They're just too incompetent to dole it out.

its easier to blame renters/landlords/the federal government then it is to admit that your own state and local government are fucked up.

---

Ilishe posted...

You think it's investment risk when someone is robbing you?

Yes, when your investment relies on the income of tenants who are now unemployed/underemployed due to a pandemic who are nonetheless bound by a contract you created.

---

Ilishe posted...

You think it's investment risk when someone is robbing you?

How else would you classify tenants not paying and staying in their rented property?

Bad tenants have always been a risk to landlords everyone knows that.

---

I don't understand why landlords act like the "risk" part of investing doesn't apply to them

---

monkmith posted...

its easier to blame renters/landlords/the federal government then it is to admit that your own state and local government are fucked up.

The "they" here was meant to apply to all levels of govt.

---

Butterfiles posted...

I don't understand why landlords act like the "risk" part of investing doesn't apply to them

Anytime anything is at risk because the government essentially steals from you is worrisome at the least

---

theAteam posted...

Bad tenants have always been a risk to landlords everyone knows that.

Unevictable bad tenants have never been a thing though

---

Unsugarized_Foo posted...

Unevictable bad tenants have never been a thing though

True and in response there's more than enough relief money allocated by the govt to rectify the issue.

---

theAteam posted...

True and in response there's more than enough relief money allocated by the govt to rectify the issue.

and yet they don't. the governments are the ones fucking up this situation, yet lots of misguided posters here believe the answers lies with the government.

---

Returning_CEmen posted...

landlords should have a 3 month buffer for unexpected expenses, but a year and a half of tenants not paying rent due to a pandemic is going to hurt everyone.

why do you think an investor should be entitled to guaranteed return on their investment? they're supposed to understand this risk before investing in the first place

---

theAteam posted...

True and in response there's more than enough relief money allocated by the govt to rectify the issue.

There is?

---

WrkHrdPlayHrdr posted...

I get what you're saying and just to be clear I'm not saying I'm okay with the large companies that buy whole complexes and that's how they make their money.

But SOMEONE has to own property. And there's properties that are set up or were built to be two different apartments. So no one should own those? Only someone who plans on turning apartments into one large house for them should be allowed to own it? Like there's realizing there's a problem, and then there's fixing it.

"fixing it" would involve removing the possibility of housing as an investment in the first place

---

Unsugarized_Foo posted...

Unevictable bad tenants have never been a thing though

The eviction process has become slow and expensive, essentially everywhere.
Also you can't really adequately pre-screen tenants anymore in some places, because that's "racist" now.
Also you're limited on how much you can raise the rent in those same places.
Now, you can arbitrarily be forced to let deadbeat tenants live there, indefinitely.

So, about all you can do is start the rent at a bloated price, raise it exactly the legal maximum every year whether you need to or not, or just use the property as an airbnb instead of long-term, or convert a building into condos.

Or, just sell to a "flipper", who's going to superficially pretty up the place and resell above-market anyway. Possibly even flip it yourself.

Or, skip all of the above and build "luxury units", along with the mandatory minimum set-asides that won't have access to the pool and squashball court.

ScazarMeltex posted...

Maybe they should get a job instead of expecting people to give them money for owning stuff. Real estate is like any other investment, susceptible to market forces.

Maybe they should pay their rent instead expecting people to give them free housing. A contract is a contract and is susceptible to punishment for breaking it.
---

Unsugarized_Foo posted...

There is?

https://home.treasury.gov/policy-issues/coronavirus/assistance-for-state-local-and-tribal-governments/emergency-rental-assistance-program


---

Landlords are overrated. Tenant farming is your next best hope


---

averagejoel posted...

why do you think an investor should be entitled to guaranteed return on their investment? they're supposed to understand this risk before investing in the first place

Because they are providing a good and service and should be compensated as agreed to.

---

Cheap apartments exist, even in NYC. They just tend to be illegal for various well-intentioned reasons.
https://www.nytimes.com/interactive/2019/10/23/nyregion/basements-queens-immigrants.html

averagejoel posted...

why do you think an investor should be entitled to guaranteed return on their investment? they're supposed to understand this risk before investing in the first place

why do you think a bilateral contract should be able to be ignored/voided by one party with no repercussion?

---

Returning_CEmen posted...

Because they are providing a good and service and should be compensated as agreed to.

landlords do not provide a good or a service. they own a building and charge money, which prevents people from living in it.

---

krazychao5 posted...

why do you think a bilateral contract should be able to be ignored/voided by one party with no repercussion?

I don't. but that isn't what's happening.

---

averagejoel posted...

I don't. but that isn't what's happening.

That's...exactly what's happening. Unless we're talking illegal under the table arrangements, every renter signs a contract.
---

voldothegr8 posted...

That's...exactly what's happening. Unless we're talking illegal under the table arrangements, every renter signs a contract.

no, it is not what's happening. because the renters still have to pay back owed rent once the eviction ban is done. that is not "no repercussion"

---

voldothegr8 posted...

That's...exactly what's happening.

Not really.
A third party told one party that it doesn't have to fulfill its end of the contract, while telling the other party that it has to.

averagejoel posted...

I don't. but that isn't what's happening.

but they agreed to pay $x amount of rent by so and so day for the rights to live in that premise. it is all stated succinctly in the contract (well sometimes they are obtuse and in private dealings they might be sparse) but it outlines everything and conditions and what happens.

if they are not paying rent as they agreed to, they are breaking their side of the contract and should not live in the dwelling.

also landlords have taken on risk before, and that is part of the game. one bad tenant can wipe years of rent income. in one day. that should be the risk, not so much the governemnt allowing people to freeload.

---