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Topic	Seriously, never be a landlord
adjl 12/08/21 10:25:30 AM #62:	Far-Queue posted... Even though I own the property (as long as I pay my taxes, anyway) I can't just build whatever I want. I'd have to look into the building statutes and zoning and everything, as well as submit plans to the town and put in for permits, but I believe in that town I would have to convert that particular building into a two-family condo if I were to go that route, which would require a near-complete remodel. Might be more cost-effective to demo and rebuild honestly. But any major construction would put my tenants out, which is something I wouldn't want to do. That's why I think that sort of change has to happen at a regulatory level. If you've got two families (or three, or whatever) living in there now, I see no reason those units couldn't be sold to two families as condos without making any significant changes (except possibly adding extra meters or otherwise tweaking utility provision). The only thing preventing that is the local zoning regulations, and saying "this can be rented individually as flats but not sold individually as condos" is really pretty arbitrary. There are indeed a lot of houses that have been broken up into apartments because they're too large for single-family homes, and I agree that pushing to have them remodelled into single-family homes and sold isn't really going to help the housing issue much, but treating those houses as rental units forever isn't the only way to move forward. Incidentally, for what it's worth, I appreciate that you generally try to be a good landlord. You are still part of the problem of real estate investors injecting themselves into the market as middlemen and driving prices up by artificially inflating demand, but I recognize that your personal contribution to the problem is pretty minimal and that you can't really do much to change it yourself. Your properties would indeed just be bought up by somebody that's likely worse than you if you were to decide you didn't want to be a part of the paradigm anymore, so I'm not about to suggest that you sell when you're being a decent person about it. --- This is my signature. It exists to keep people from skipping the last line of my posts. <cite>adjl posted [p:960726716] in Seriously,... [t:79800222]...</cite> <quote>Far-Queue posted... </cite> <quote>Even though I own the property (as long as I pay my taxes, anyway) I can't just build whatever I want. I'd have to look into the building statutes and zoning and everything, as well as submit plans to the town and put in for permits, but I believe in that town I would have to convert that particular building into a two-family condo if I were to go that route, which would require a near-complete remodel. Might be more cost-effective to demo and rebuild honestly. But any major construction would put my tenants out, which is something I wouldn't want to do.</quote> That's why I think that sort of change has to happen at a regulatory level. If you've got two families (or three, or whatever) living in there now, I see no reason those units couldn't be sold to two families as condos without making any significant changes (except possibly adding extra meters or otherwise tweaking utility provision). The only thing preventing that is the local zoning regulations, and saying "this can be rented individually as flats but not sold individually as condos" is really pretty arbitrary. There are indeed a lot of houses that have been broken up into apartments because they're too large for single-family homes, and I agree that pushing to have them remodelled into single-family homes and sold isn't really going to help the housing issue much, but treating those houses as rental units forever isn't the only way to move forward. Incidentally, for what it's worth, I appreciate that you generally try to be a good landlord. You are still part of the problem of real estate investors injecting themselves into the market as middlemen and driving prices up by artificially inflating demand, but I recognize that your personal contribution to the problem is pretty minimal and that you can't really do much to change it yourself. Your properties would indeed just be bought up by somebody that's likely worse than you if you were to decide you didn't want to be a part of the paradigm anymore, so I'm not about to suggest that you sell when you're being a decent person about it. --- This is my signature. It exists to keep people from skipping the last line of my posts.</quote> ... Copied to Clipboard!
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