Comment on Confiscate properties from rogue landlords, says senior Labour MP
hellothere@sh.itjust.works 10 months agoPay is often linked to the risk you have invested in your business.
This line is routinely trotted out by people who do not understand the very basic facts of limited liability.
It is trivally simple to establish your business as limited by guarantee, and when done so the risk is literally £1.
If anyone establishes a business where they are personally liable for any debts, or losses acrued, by thag business then they need to seriously reconsider if business management is for them.
Now, people may well choose to invest personal savings to start a business, rather than take out a loan, but again, rule number 1 of investing is not to invest more than you can afford to lose, so, again, the actual risk is £1.
Maalus@lemmy.world 10 months ago
Not how it works everywhere. Also - bullshit on the actual risk being so low after investing all you can afford to lose - you just lost all you could afford to lose which could be thousands.
The reality of it is - you rent out an apartment and need to keep it up. I had landlords come in with powerbanks and extension cords in the middle of the night when the breakers failed. I had them loaning me an AC units. They would renovate regularly.
And I could’ve been a shitty tennant that messed their modern flat, didn’t pay them rent and refused to move out. They would lose a place they lived in for years to some rando off the street.
hellothere@sh.itjust.works 10 months ago
You’re clearly American, why are you commenting on a thread about UK landlords, and UK company law, using examples not from the UK?
Maalus@lemmy.world 10 months ago
I’m European. Stop assuming shit about people.
hellothere@sh.itjust.works 10 months ago
My apologies, but same question.