Current Events > Twitter to landlords; investing is a risk don't be mad tenants cannot pay rent.

(+) Yeah! (+)

Especially during a recession

https://twitter.com/ashindestad/status/1422710312063623172?s=21

https://twitter.com/rev_avocado/status/1422730297314095114?s=21

Landlords are the only "investors" who think their "investment" should be completely risk free

Absolutely brilliant.

Thaumaturge posted...

Absolutely brilliant.

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Being wrong can sound very catchy to some people.

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And then you get people like our tenant that cut electric company locks and stole water, cut County water plumbing and stole water

Moved in and vanished from the face of the earth since last year in March
Doesn't answer the phone, doesn't come to the door

Started filling the yard with cars that they took apart, up to 7 now.

They were going to sell that house to a family but someone asked for a favor, losing their county housing if they can't find a place so the buyer said they will wait a month til they can find a place.

And here we are with a destroyed house with a kicked in front door and a destroyed yard, no idea what the inside looks like.

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cuh posted...

Are they wrong

The risk landlords didnt account for was the shift in the consciousness of our society to choose grace over greed

Yes, they are wrong. I invested in Tesla at a high. I don't get to rage to Tesla because the stock is now worth less. Landleeches don't get to rage that they aren't getting money because their tenants aren't getting money either.

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Sell the property

Fair.

However, "GTFO" should also be fair.

Landlords belong against the wall tbh

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A civil body or the government should manage property

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Man blind hate is great, become a problem yourself!

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Questionmarktarius posted...

Fair.

However, "GTFO" should also be fair.

Yeah.

Its a pretty weak comparison honestly.

Unless there's some stock trading rule ive never heard of where someone can say "no you're not allowed to sell this tanking stock. Fuck you. Keep it indefinitely and watch your money disappear," then that would be more comparable to being a landlord stuck with a non paying tenant you can't evict.

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SuperShake666 posted...

Landlords belong against the wall tbh

You're in favor of more homeless people?

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CanuckCowboy posted...

"no you're not allowed to sell this tanking stock. Fuck you. Keep it indefinitely and watch your money disappear,"

MTLQQ

@Shablagoo

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Eh it depends. Irresponsible tenants who are usually late on their rent and are trying to dodge their landlord, are damaging the landlord's property, or are problematic in general shouldn't get a break, but the landlord should have to provide proof and still give a eviction notice in adequate time prior to eviction. I hate slumlords who don't fulfill their end of the bargain towards their tenants and just buy up properties to load up people in to try and milk them for money, like the ones that are responsible for that condo collapse in Florida, but irresponsible scumbag tennants are pretty awful as well.

CanuckCowboy posted...

Yeah.

Its a pretty weak comparison honestly.

Unless there's some stock trading rule ive never heard of where someone can say "no you're not allowed to sell this tanking stock. Fuck you. Keep it indefinitely and watch your money disappear," then that would be more comparable to being a landlord stuck with a non paying tenant you can't evict.

Pretty sure landlords can sell the land whenever as long as the buyer assumes the role of landlord in existing contracts with renters.

In any case, people who talk about how hard they worked to earn the apartment complex or whatever... the truth is you're profiting off people's basic need for shelter, and for that reason I cannot sympathize with you.

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Questionmarktarius posted...

MTLQQ

I might have to read about that a bit.

I dont know much if anything about what happened to shareholders during that whole shit show.

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cuh posted...

I just want to clarify that I was in the renters side

My fault.

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financial and commercial activities in america in a nutshell: you eat your losses, the government eats your gains (unless you're ultra-wealthy)

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thats capitalism gotta take the good with the bad tbh

CanuckCowboy posted...

I dont know much if anything about what happened to shareholders during that whole shit show.

The "GM Shuffle" was a fucking brilliant financial maneuver.
Only in America.

Crabs in a bucket mentality. Can't be having people not as poor as them now, can we?

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Doe posted...

Pretty sure landlords can sell the land whenever as long as the buyer assumes the role of landlord in existing contracts with renters.

In any case, people who talk about how hard they worked to earn the apartment complex or whatever... the truth is you're profiting off people's basic need for shelter, and for that reason I cannot sympathize with you.

So are people who buy houses and flip them also assholes? What about someone who just happened to buy in a dip and sells for a huge profit? Is that wrong too since the market has now surged and housing is unavailable at the more affordable prices of 20 years ago?

I'm pretty sure selling a property that comes with deadbeat tenants you can't evict isn't really gonna be feasible.

What about the entire system that has lead to situations like the one here where house prices have gone up by 300% in under 20 years and gone up another 35 to 40% on top of that since just last year?

What makes landlords especially abhorrent?

I'm not super big on landlords myself (although mine is a decent guy) but that doesn't mean this is a solid gotcha by any means.

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CanuckCowboy posted...

So are people who buy houses and flip them also assholes?

Yes.

I bought my house for $50k from an ambiguous relative who courthoused it for $45k, and did nothing but change all the locks and mow a few times.
It's worth $135k right now, for no goddamn reason. I should flip the damn thing.

I cant sympathise with property investors. They have such a negative impact on society, I see them in the same light as the 1% and anti-vaxxers

genesis42 posted...

Crabs in a bucket mentality. Can't be having people not as poor as them now, can we?

Crabs aren't supposed to be in buckets, so the behavior is not anything like their normal day to day activities. Likewise, capitol isn't a natural thing, it's an artificial prison in which many are trapped without hope of escape.

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Maybe landlords should get a real job
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Holy fuck, I can rent my house for three times my mortgage payment. Why the hell am I still living here?

CanuckCowboy posted...

What about the entire system that has lead to situations like the one here where house prices have gone up by 300% in under 20 years and gone up another 35 to 40% on top of that since just last year?

What do you think is causing that?

CanuckCowboy posted...

So are people who buy houses and flip them also assholes? What about someone who just happened to buy in a dip and sells for a huge profit? Is that wrong too since the market has now surged and housing is unavailable at the more affordable prices of 20 years ago?

I'm pretty sure selling a property that comes with deadbeat tenants you can't evict isn't really gonna be feasible.

What about the entire system that has lead to situations like the one here where house prices have gone up by 300% in under 20 years and gone up another 35 to 40% on top of that since just last year?

What makes landlords especially abhorrent?

I'm not super big on landlords myself (although mine is a decent guy) but that doesn't mean this is a solid gotcha by any means.

I didn't call anyone assholes, but I also wouldn 't extend particular sympathy to houseflippers gentrifying a neighborhood.

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Thaumaturge posted...

Absolutely brilliant.

Only a Sith deals in absolutes

Questionmarktarius posted...

Holy fuck, I can rent my house for three times my mortgage payment. Why the hell am I still living here?

Welcome to the other side of the treadmill. You can live there and rent out the spare rooms for $1500 a month and reinvest the extra cash into your next "home".

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CommonStar posted...

What do you think is causing that?

A few things. One is its just a desirable area.

2 is rich developers buying up every single even remotely affordable property, having the property rezoned, then building condos or apartments that start at 1400 a month for a single bedroom when the house they tore down was far larger and cheaper.

3 is gutless city councils who keep letting it happen.

And other factors I'm sure, but the developers and spineless politicians who dont gaf about the working class are the major reason.

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Sputnik1337 posted...

Welcome to the other side of the treadmill. You can live there and rent out the spare rooms for $1500 a month and reinvest the extra cash into your next "home".

It's a very small two-bedroom house with one bathroom, built in the 1950s.
Still $135k somehow.

Pay rent or lay on the street. It isn't really fair to the landlords.

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Questionmarktarius posted...

Yes.

I bought my house for $50k from an ambiguous relative who courthoused it for $45k, and did nothing but change all the locks and mow a few times.
It's worth $135k right now, for no goddamn reason. I should flip the damn thing.

My mom got super lucky. If she waited another 5 years she'd never have owned a home.

As is she got her first place for 89.5k and sold it within 6 or 7 years for 279k.

As for me I'm fucked unless I wanna move, and ice already made some fairly significant sacrifices to not have to move away from here so I'm not changing my mind now.

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Landlords are always exposed to a lot of risk.

Deadbeat tenants that don't pay and need evicting
Destructive tenants that damage your property
Decrease in housing and rent prices
Overall economic downfall, leading to increased vacancy rate and turn over rate
Maintenance

Now we get an act of God and the banks are bailed out, the tenants are bailed out, but the landlords are left holding the bag.

Fine, you want small time landlords out of the business? We'll leave. I'm sure you'll love the large companies that replace us.

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KILBOTz posted...

Landlords are always exposed to a lot of risk.

Deadbeat tenants that don't pay and need evicting
Destructive tenants that damage your property
Decrease in housing and rent prices
Overall economic downfall, leading to increased vacancy rate and turn over rate
Maintenance

Now we get an act of God and the banks are bailed out, the tenants are bailed out, but the landlords are left holding the bag.

Fine, you want small time landlords out of the business? We'll leave. I'm sure you'll love the large companies that replace us.

I mean just because it's an individual and not a corporation doesn't mean they're gonna be better or more reasonable to deal with.

Renting from property management places i didn't have the best experiences but the worst I had by far were two different small-time landlords. At least the larger outfits don't try and fuck you in obviously illegal and moronic ways.

The one dude was regularly coming into my place when I was out and I only discovered it cause I was home sick one day and ignored his knock.

Another one came by after my place had been broken into and proceeded to holler at me and demand payment for the window they broke while I was still processing the fact my brand new computer and the coin collection my grandma left me had been stolen.

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^I hope companies dont take over. They be on Agendas.



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Someone replied "what about student loans" to the 2nd tweet.

How do we justify that tho

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St0rmFury posted...

Someone replied "what about student loans" to the 2nd tweet.

How do we justify that tho

You can't.
College tuition bloated to hell exactly because student loans became dead-easy in 1992

95% of landlords are absolute pieces of shit.

Yes, there are definitely a few who really go the extra mile and stuff like that, but it couldnt be more than 5% of them.

They try to whine to the public, oh, this one tenant owes me $20k for a yearss rent. Okay? You should never have charged someone $20k for a year of rent. If it was $5k for the year (which is what it should be), then they probably could have come up with it. Zero sympathy for these slumlords demanding so much.

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Number090684 posted...

I hate slumlords who don't fulfill their end of the bargain towards their tenants and just buy up properties to load up people in to try and milk them for money

it was completely fine for the first 6-7 years. until it ran under new ownership. paid rent on time always but got rent jacked up 33% from 750$. because he wanted to make back the 535k he paid on the apartments. didn't have own hot water tank. showers always cold (1 hot water tank for 5 tenants).
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Goatsensation posted...

Shab

Houses are for living in, not for speculation.
-Xi Jinping

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KILBOTz posted...

Fine, you want small time landlords out of the business? We'll leave. I'm sure you'll love the large companies that replace us.

We want all landlords out of the business. Theres nothing good about them

KILBOTz posted...

Fine, you want small time landlords out of the business? We'll leave. I'm sure you'll love the large companies that replace us.

All landlords and property companies up against the wall.

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