You still take someone elses money, just less of it.
Comment on Fucking leeches
DrFistington@lemmy.world 1 day ago
I used to have my own place before my wife and I got married, and she had her own house too. When I moved in with her I decided to rent out my place to a friend, otherwise I’d have to still pay like $650 a month for my mortgage. I set my friends rent at $900 a month for him and a friend, with cats. I paid my mortgage and had some extra to save up in case a repair was needed. Average rent for an apartment (not a house) was 1200-1500 in the same area. My renters ended up taking better care of the house than I ever did. It was beautiful when they lived there. I ended up making about 5k to 10k extra bucks over the course of a few years and my mortgage was paid for me. Eventually they had to move out due to some issues between the two at which point I sold the house and made over six figures, off a house that cost less than $80,000 when I bought it.
See what I did there? I charged a reasonable rent and still made a totally stupid amount of money off of just one property. I wasn’t a goddamn parasite who tried to bleed my tenants for everything they were worth.
People like these total shitbags. They’re the reason why America’s youth have no future
thisfro@slrpnk.net 1 day ago
singletona@lemmy.world 1 day ago
See, when the Landlord charges reasonable rates, and actually provides services in exchange for that rent (helping update appliances to newer, having paperwork on hand for any code/inspections needed for property changes (that the landlord would ultimately benefit from,) and in general treating it as a matter of ‘I have obligations’ instead of ‘I will do nothing but I will absolutely blame the tennants for the inevetable crumbling of the property.’
I dislike the concept at base level, but that is a someone who is trying to not be a scumbag.
thisfro@slrpnk.net 1 day ago
The renting part isn’t even that bad, the owning part is the problem.
phindex@lemmy.world 11 hours ago
The renting part isn’t even that bad, the owning part and selling for profit is the problem.
What are you talking about? I buy a house for $200k in 2012, real estate market goes crazy and now my house is worth $500, selling it for market value iis… wrong?
Devanismyname@lemmy.ca 1 day ago
Can we not shit all over normal people for doing normal stuff? This dude doesn’t run Blackrock, he had a single rental property.
GoodEye8@lemm.ee 1 day ago
Hundred years ago it was normal to beat women of they were out of line. Millenia ago it was normal to own slaves. It’s also “normal” for the US Healthcare to screw over people who need Healthcare. Just because something is “normal” doesn’t mean it’s somehow right. Slavery was normal but then different societies over time understood that slavery is not right and it stopped being normal. Beating women used to be normal but over time we learned that’s also not right and it stopped being normal. I don’t know about you but I don’t think ripping people off is right. However ripping people off has been normalized for capital owners (including land lords).
Nobody should be wishing for his demise (compared to Blackrock and its kin, who I do think should cease to exist), but at the same time he shouldn’t be padded on the back for not ripping off his friend as much as he could’ve. What he did shouldn’t be normal.
Devanismyname@lemmy.ca 1 day ago
He didn’t rip off his friend at all. He took just enough to pay the mortgage and save something up in case of repairs. That isn’t ripping him off. That’s doing him a favor since he charged him so little.
TiggerYumYum@lemm.ee 1 day ago
[deleted]Crikeste@lemm.ee 1 day ago
Dude, they explained perfectly well how they ended up with two houses. 2 people had houses, they got married and only needed one. They weren’t preying on people, it just happened to them.
SkyezOpen@lemmy.world 1 day ago
Not everyone is in a situation where they can or even want to own a house. Renting is much safer in terms of sudden emergencies. Water heater blows out in a house? Fuck you, 3k to replace at least. In an apartment? That’s a landlord problem.
thisfro@slrpnk.net 1 day ago
So?
SkyNTP@lemmy.ml 1 day ago
There’s a line to draw between exploiting tenants, and compensation for providing dwelling.
You might even argue the OP creates this ambiguity based on interpretation of the wording, or poor communication.
For a productive conversation, let’s be crystal clear where that line is drawn.
lakemalcom10@lemm.ee 1 day ago
This is something I think gets left out, but understandably so when there are so many issues with landlords.
But, as a property owner, you’ve got all the liability and are responsible for repairs and ensuring that the property is livable and usable. I think there’s a level of compensation you can be earning from your time, but I think that having extremely high rent PLUS the ROI of your property increasing in value over time is double dipping. When you consider that your money is invested in property and you’re getting value that way, it IS leeching IMO if someone else is doing all the upkeep and paying a premium for that.
Looking at the OP that way shows that those people are just exploiting others. But I do think there is such a thing as ethical landlording. But I think generally we’re not there.
phindex@lemmy.world 11 hours ago
If you start treating everyone who’s making a profit by owning a property and renting it out, as a piece of shit, soon you’ll have everyone avoiding renting property altogether, and simply selling, and investing their capital in something that returns a profit. You know the stock market, Bitcoin. The bottom line is a rental property is just a business like anything else
greenashura@sh.itjust.works 1 day ago
Someone who needs a place to live in and doesn’t have the money to buy their own place. IMO, it is a fair trade as long as the landlord isn’t a cunt. The reasons to why they don’t have enough to buy their own place have nothing to do with a single landlord, some people don’t want to take roots in a single place. If you wanna go to war with someone, go to war with companies, ban companies on owning and renting places, not people.
queermunist@lemmy.ml 11 hours ago
The incentive structure for landlords creates these conditions, it’s not some individual failing of their moral character. Individual tyrants aren’t better than corporate tyrants.
thisfro@slrpnk.net 1 day ago
go to war with companies, ban companies on owning and renting places, not people with that I can agree. But taking money is still taking money.
greenashura@sh.itjust.works 1 day ago
By that thought everyone should be doing everything for free.
the_q@lemm.ee 1 day ago
Your “friend” still paid a substantial portion of your mortgage and gained nothing from it beyond being out of the rain. You used him and paint it as mutually beneficial.
tankfox@midwest.social 1 day ago
How is a stable comfortable place to live ‘nothing’? If being out of the rain was all it took we’d all live in tents and this conversation would not occur. Owning a house and keeping it repaired/functional is hard and expensive. You don’t do your side favors by acting like our boy kept his friend in a locked closet when we all know that isn’t true.
the_q@lemm.ee 1 day ago
I’m not going to argue with you. Shelter is not a commodity.
phindex@lemmy.world 11 hours ago
Of course it is. If it wasn’t, I wouldn’t be able to sell it, take the money and invest in something else.
commander@lemmings.world 1 day ago
Why do you get extra properties to rent out to others while he has to pay the rent?
The only reason why he doesn’t have enough is because people like you have too much.
We’re coming for you.
phindex@lemmy.world 11 hours ago
The only reason why he doesn’t have enough is because people like you have too much.
This should be satire.
TiggerYumYum@lemm.ee 1 day ago
[deleted]jaschen@lemm.ee 1 day ago
Are hotels parasites too? When you lease a car, are the dealers parasites? How about short term rentals for traveling nurses. Are those parasites too?
If I own a house and have roommates, am I a parasite too?
Grow up man. Renting a home has advantages that people like me pay for.
The place I’m renting is in an amazing area that I would never be able to afford. My son goes to school in a nicer, safer area.
I can move out whenever I want to without worrying about selling my place.
When something breaks, 1 phone call and my issue is fixed.
I pay less than a mortgage and the money I save, I guess to diversity my retirement/investment. Instead of dumping my entire asset in a home.
thisfro@slrpnk.net 1 day ago
Are those parasites too? Yes?
phindex@lemmy.world 11 hours ago
wtf. You people are nuts.
objject_not_found@lemm.ee 1 day ago
I live in the UK and many neighbours of mine are “professional landlords” and it is so annoying seeing them so relaxed and doing nothing while I am stressed and anxious at my job.
prole@lemmy.blahaj.zone 21 hours ago
You made a profit from people who thought they were your friends. Classy.
DrFistington@lemmy.world 12 hours ago
Yes, it’s called mutually beneficial. They saved hundreds of dollars every month since I was charging them way under market for rent. They were actually able to save up a substantial amount. I mean they were planning on having to pay at least 1200 a month for a shitty place, instead they got an actual fucking house for 900.
When his mom was dying of cancer, he had room for her to stay with them after chemo sessions. Since the house was in a great location near the hospital
finitebanjo@lemmy.world 1 day ago
TBH I think you’re even overstating how lucrative it is for the average person. Most houses don’t double in value, most areas don’t rent for $1500 USD, most tenants don’t maintain properties well.
commander@lemmings.world 1 day ago
That’s nice, but you shouldn’t have an extra property to rent out to others when there’s not enough to go around.
underisk@lemmy.ml 1 day ago
Using my “friends” to, pay off a personal debt while making $250/mo in profit off the,. See, it’s possible to be a good landlord, everyone!
Did you share any of what you made from the sale with your “friends” who helped you pay for it and kept it in good condition for you?
blandfordforever@lemm.ee 1 day ago
It seems like it was a situation where everyone felt like they got a good deal and nobody felt taken advantage of.
Stop trying to make it sound like he was exploiting his friends. There are costs and liabilities to owning a house. It’s not just free once you’ve paid it off.
Nastybutler@lemmy.world 1 day ago
Did those friends run the risk of having to pay for a new roof or anything else that can go wrong with a house? Tell me you’ve never owned a house without telling me you’ve never owned a house
czardestructo@lemmy.world 1 day ago
Don’t try to talk sense into the senseless.
underisk@lemmy.ml 1 day ago
Did the landlord have to risk losing his own home when the person who owns it decides they are done being a decent human and kicks them out for a higher paying tenant, or sells the property to another landlord who will do the same? Do they have to beg someone to come fix their shit in a timely manner or do they just call a repair man who doesn’t charge them $250/mo for the privilege of paying off someone else’s mortgage so they can call the repair man for you?