Current Events > Landlord: "the rent only pays for my mortgage on the property!"

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BathroomWater
03/16/20 10:08:48 AM
#1:


Uhh...yeah, seems like a pretty sweet deal for you.

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AlephZero
03/16/20 10:09:41 AM
#2:


landlords will be first to the gulag after bernie wins

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DevsBro
03/16/20 10:11:22 AM
#3:


BathroomWater posted...
Uhh...yeah, seems like a pretty sweet deal for you.
How so? Does the landlord live onsite and have a second job they use to pay for food and bills and stuff?

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Romulox28
03/16/20 10:12:43 AM
#4:


BathroomWater posted...
Uhh...yeah, seems like a pretty sweet deal for you.
breaking even is a sweet deal?

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Veggeta X
03/16/20 10:13:00 AM
#5:


How many rental properties is too many? My cousin literally owns like 5 houses he's rented out and he says it is a fucking nightmare and not worth investing in. He says the main problem are the tenants.

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Veggeta X
03/16/20 10:13:47 AM
#6:


Romulox28 posted...
breaking even is a sweet deal?
Yes because your bills are being paid and you get to keep it.

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averagejoel
03/16/20 10:15:02 AM
#7:


Veggeta X posted...
How many rental properties is too many? My cousin literally owns like 5 houses he's rented out and he says it is a fucking nightmare and not worth investing in. He says the main problem are the tenants.
the main problem is that he's allowed to be a leech

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EndOfDiscOne
03/16/20 10:16:16 AM
#8:


Maintenance? Property taxes? Insurance? Paying someone to manage the property or putting your own time in? The landlord is not breaking even if the rent only covers the mortagage.

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DevsBro
03/16/20 10:17:29 AM
#9:


EndOfDiscOne posted...
Maintenance? Property taxes? Insurance? Paying someone to manage the property or putting your own time in? The landlord is not breaking even if the rent only covers the mortagage.
I was assuming the guy was rolling all that up into "mortgage" as a sort of synechdoche.

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Veggeta X
03/16/20 10:18:31 AM
#10:


averagejoel posted...
the main problem is that he's allowed to be a leech
Huh?

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Southernfatman
03/16/20 10:20:55 AM
#11:


A lot of the property owners/renters that I've dealt with during my job seem to be doing quite well unless it's all just one huge front on their part and they're horribly in debt, which certainly happens.

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averagejoel
03/16/20 10:24:07 AM
#12:


Veggeta X posted...
Huh?
functionally, landlords are parasitic

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Tony_Biggie_Pun
03/16/20 10:25:06 AM
#13:


LandLORD think about that term...

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Kolibri X
03/16/20 10:30:19 AM
#14:


Real estate almost always appreciates in value long term so yeah, outright owning a property after only contributing 20% is a pretty damn good deal. Hilarious how land lords cry oppression when they're the oppressors.

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Solid Snake07
03/16/20 10:31:26 AM
#15:


Pretty dumb take.

Properties require maintenance, something you should be setting aside for out of every months rental payment. Besides, a rental property is an investment, and you're getting a pretty dog shit return, if anything, by just paying the mortgage every month.

That said, if the property is being rented at market value and your landlord is only barely covering the mortgage they fucked up.

Why are you even discussing this with them?

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Romulox28
03/16/20 10:31:41 AM
#16:


i will never understand the landlord whining from the left, it feels totally detached from reality. what is the alternative? everyone gets a free house that they magically will not have to maintain?

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Solid Snake07
03/16/20 10:34:44 AM
#17:


Veggeta X posted...
How many rental properties is too many? My cousin literally owns like 5 houses he's rented out and he says it is a fucking nightmare and not worth investing in. He says the main problem are the tenants.


The thing is, people act like renting is a simple as buy a property and find a tenent. Property management is a job, which is why there are people who will manage your properties for you for a fee.

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DevsBro
03/16/20 10:35:30 AM
#18:


Romulox28 posted...
i will never understand the landlord whining from the left, it feels totally detached from reality. what is the alternative? everyone gets a free house that they magically will not have to maintain?
The government will pay for everyone's housing using that money they conjure up from nowhere

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AngelsNAirwav3s
03/16/20 10:36:04 AM
#19:


Veggeta X posted...
How many rental properties is too many? My cousin literally owns like 5 houses he's rented out and he says it is a fucking nightmare and not worth investing in. He says the main problem are the tenants.

He should really use a property manager instead of doing it himself with that many houses. I have a property manager, they get like 6% of the monthly rent collected, and they do everything for me, I have never even talked to my tenants, all that happens is my manager calls me when something big happens (like washer/dryer breaking down), and I give them the OK to hire a repair man, boom done. When the tenants move out, the property manager also takes care of all the advertising and application process for new tenants.

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Solid Snake07
03/16/20 10:37:55 AM
#20:


averagejoel posted...
functionally, landlords are parasitic


They're offering to furfill a need for a price. You're more than welcome to go buy your own property if you don't want to rent.

I own a house, renting is cheaper, so stop whining

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BathroomWater
03/16/20 10:46:53 AM
#21:


AngelsNAirwav3s posted...
He should really use a property manager instead of doing it himself with that many houses. I have a property manager, they get like 6% of the monthly rent collected, and they do everything for me, I have never even talked to my tenants, all that happens is my manager calls me when something big happens (like washer/dryer breaking down), and I give them the OK to hire a repair man, boom done. When the tenants move out, the property manager also takes care of all the advertising and application process for new tenants.

You sit around and collect 94% of the revenue while doing nothing? Damn, nice.

DevsBro posted...
I was assuming the guy was rolling all that up into "mortgage" as a sort of synechdoche.

Yes, thank you. Good word btw

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kingdrake2
03/16/20 10:47:50 AM
#22:


Solid Snake07 posted...
renting is cheaper, so stop whining


wish i had a lower rent :(.
back then i had to pay 750$. until new landlord came in and jacked up the rent to 1k.

he did give 3 months notice before doing so but it's really hard to find dog approved place (especially for a large dog) previous landlord didn't mind any domestic pet (even giant dogs).
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DevsBro
03/16/20 10:49:29 AM
#23:


BathroomWater posted...
You sit around and collect 94% of the revenue while doing nothing? Damn, nice.
Yep, the reapirs he memtioned are all done for free and the bank doesn't even expect mortgage payments.

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averagejoel
03/16/20 10:51:24 AM
#24:


Romulox28 posted...
i will never understand the landlord whining from the left, it feels totally detached from reality.
it's not whining. it's a description of what they do.

what is the alternative? everyone gets a free house that they magically will not have to maintain?
that's not what I'm talking about right now

Solid Snake07 posted...
They're offering to furfill a need for a price.
irrelevant to whether or not they're parasites

You're more than welcome to go buy your own property if you don't want to rent.
cool. that doesn't mean landlords aren't parasites

I own a house, renting is cheaper, so stop whining
you owning a house has no bearing on whether or not landlords are parasites.

renting being cheaper also has no bearing on whether or not landlords are parasites.

I am also not whining. I am giving a description of what they do.

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Maeiv
03/16/20 10:51:55 AM
#25:


How has no one mentioned property taxes yet?

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Solid Snake07
03/16/20 10:52:25 AM
#26:


BathroomWater posted...
You sit around and collect 94% of the revenue while doing nothing? Damn, nice.


You still have to pay the mortgage, taxes, maintenance, ect ect

The 6% is off the gross, not the net. So no

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teepan95
03/16/20 10:53:59 AM
#27:


Romulox28 posted...
i will never understand the landlord whining from the left, it feels totally detached from reality. what is the alternative? everyone gets a free house that they magically will not have to maintain?

I have nothing against landlords per se, but they have too much power in the US, from what I gather

https://www.evz.de/en/living-in-germany/renting-in-germany.html
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CruelBuffalo
03/16/20 10:54:12 AM
#28:


TC is calling the children of undocumented immigrants parasites and its disgusting.
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Solid Snake07
03/16/20 10:55:16 AM
#29:


averagejoel posted...
irrelevant to whether or not they're parasites


Right, anyone selling anything ever is a "parasite"

Cool logic man

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PCgamingIS_Best
03/16/20 10:57:13 AM
#30:


Dunno why people who rent property to others are considered to be so bad...
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averagejoel
03/16/20 10:58:18 AM
#31:


Solid Snake07 posted...
Right, anyone selling anything ever is a "parasite"

Cool logic man
that is not what I said. do not misrepresent what I said.

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averagejoel
03/16/20 10:58:44 AM
#32:


PCgamingIS_Best posted...
Dunno why people who rent property to others are considered to be so bad...
"bad" is imprecise. they are parasitic.

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Veggeta X
03/16/20 10:59:36 AM
#33:


Hire a property manager?

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Solid Snake07
03/16/20 11:01:08 AM
#35:


PCgamingIS_Best posted...
Dunno why people who rent property to others are considered to be so bad...


Because they've put up a significant amount of personal capital to provide people affordable housing that tenents don't have to be anchored to with the goal of making a modest return on their investment of time and money.

Evil bastards

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Balrog0
03/16/20 11:01:39 AM
#36:


'affordable'

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Solid Snake07
03/16/20 11:04:07 AM
#37:


averagejoel posted...
that is not what I said. do not misrepresent what I said.


Okay, so what's the difference between a landlord that rents you a place to live and the supermarket? They're both selling you something you need at a price the market dictates with the goal of turning a profit

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PCgamingIS_Best
03/16/20 11:04:45 AM
#38:


averagejoel posted...
"bad" is imprecise. they are parasitic.

Why? They are providing a place to live.

Balrog0 posted...
'affordable'

Well if you're trying to live in a high cost of living area but you're skills only net you a minimum wage job, that's your problem...

You need to apply for section 8 housing and get roommates, or move.
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Questionmarktarius
03/16/20 11:06:15 AM
#39:


AlephZero posted...
landlords will be first to the gulag after bernie wins
...and then what?
Local governments aren't going to want a bunch of "communal" buildings that generate no property tax revenue.
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gunplagirl
03/16/20 11:06:38 AM
#40:


PCgamingIS_Best posted...
Dunno why people who rent property to others are considered to be so bad...
They go out buy 5 houses off the marketplace that they don't need, denying people who'd want to buy a house those as options. Then they get them paid for by their tenants while putting in the bare minimum maintenance they'd have had to handle had they intended to use the property to begin with.

As for the guy who said renting is cheaper than buying, there's this really old excerpt from a book about shoes. A rich person can pay $40 for a nice pair of shoes that'll last for years and keep their feet nice and dry. A poor person will pay $10 for shoes that last a season, and in the end his feet still end up wet. Or else, for a comparison more modern. You can buy some roller skates, or over time you can pay way more than that to rent them. In the end you'll still never actually own them.

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gmanthebest
03/16/20 11:07:03 AM
#41:


Solid Snake07 posted...
Okay, so what's the difference between a landlord that rents you a place to live and the supermarket? They're both selling you something you need at a price the market dictates with the goal of turning a profit
Don't ask him questions he doesn't know the answer to. I'm sure it's very embarrassing for him.

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Tupacrulez
03/16/20 11:07:23 AM
#42:


No smart landlord only covers their mortgage.

That's a sob story they tell people.

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Balrog0
03/16/20 11:07:34 AM
#43:


PCgamingIS_Best posted...
Well if you're trying to live in a high cost of living area but you're skills only net you a minimum wage job, that's your problem...

There's plenty of blame to go around for both low wages and high housing costs, no need to be hyperbolic

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BathroomWater
03/16/20 11:08:04 AM
#44:


DevsBro posted...
Yep, the reapirs he memtioned are all done for free and the bank doesn't even expect mortgage payments.

Solid Snake07 posted...
You still have to pay the mortgage, taxes, maintenance, ect ect

The 6% is off the gross, not the net. So no

https://www.investopedia.com/ask/answers/122214/what-difference-between-revenue-and-profit.asp

CruelBuffalo posted...
TC is calling the children of undocumented immigrants parasites and its disgusting.

I haven't called anyone a parasite.

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Oatcakes
03/16/20 11:08:36 AM
#45:


I pay a little bit more for my mortgage per month (17 year one) than I did for when I rented a house that was less than half the size. Both in similar areas.
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Romulox28
03/16/20 11:08:47 AM
#46:


gunplagirl posted...
As for the guy who said renting is cheaper than buying, there's this really old excerpt from a book about shoes. A rich person can pay $40 for a nice pair of shoes that'll last for years and keep their feet nice and dry. A poor person will pay $10 for shoes that last a season, and in the end his feet still end up wet. Or else, for a comparison more modern. You can buy some roller skates, or over time you can pay way more than that to rent them. In the end you'll still never actually own them.
jesus christ

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averagejoel
03/16/20 11:08:53 AM
#47:


Solid Snake07 posted...
Okay, so what's the difference between a landlord that rents you a place to live and the supermarket? They're both selling you something you need at a price the market dictates with the goal of turning a profit
the owner of the supermarket is parasitic in the same way that the landlord is. they are exploiting a basic human need for profit.

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gunplagirl
03/16/20 11:10:37 AM
#48:


averagejoel posted...
the owner of the supermarket is parasitic in the same way that the landlord is. they are exploiting a basic human need for profit.
Ehhhh. At least with the supermarket the people going into there own the stuff they're paying for. Renters on the other hand have some protections but mostly just ones keeping the landlord from evicting them overnight.

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gmanthebest
03/16/20 11:11:39 AM
#49:


Lol, averagejoke at it again. Wanna eat the rich and kill their children?

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Veggeta X
03/16/20 11:11:50 AM
#50:


Tupacrulez posted...
No smart landlord only covers their mortgage.

That's a sob story they tell people.
But once paid off you can sell it for much more money?

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PCgamingIS_Best
03/16/20 11:13:54 AM
#51:


gunplagirl posted...
They go out buy 5 houses off the marketplace that they don't need, denying people who'd want to buy a house those as options. Then they get them paid for by their tenants while putting in the bare minimum maintenance they'd have had to handle had they intended to use the property to begin with.

As for the guy who said renting is cheaper than buying, there's this really old excerpt from a book about shoes. A rich person can pay $40 for a nice pair of shoes that'll last for years and keep their feet nice and dry. A poor person will pay $10 for shoes that last a season, and in the end his feet still end up wet. Or else, for a comparison more modern. You can buy some roller skates, or over time you can pay way more than that to rent them. In the end you'll still never actually own them.

A person who owns a home would put in only the minimum amount of maintenance too. Your argument is just full of flaws. If the landlord isn't doing a good job, they won't have consistent renters and those renters won't take care of the place anyway.

If you want to own 5 houses, go fucking work for it. Make a budget, get your spending in order, and prepare yourself for a good career.

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