• 1 Post
  • 514 Comments
Joined 1 year ago
cake
Cake day: July 12th, 2023

help-circle












  • but charging $1300 rent on a property with a $1000/mo mortgage isn’t unreasonable.

    No it’s just stupid. With those $300 dollars difference a landlord would need to cover insurance, property taxes, regular maintenance like replacing roof every 30 years, unplanned maintenance like a pipe bursts or aircon breaks. On top of that someone needs to act as the property manager/handyman so either the landlord takes that phone call on a Friday evening for the pipe that is gushing, or is paying someone to do that.

    Tenant moves somewhere else and the place is empty for a couple of weeks, no income.

    Oh and when you are done with all the above, depending on the country, those $300 count as income and get taxed (rightly so) so it’s not really $300.

    BTW I don’t like landlords, I am not one. I rented most of my life until recently as a choice, been able to move to a new city or country at the drop of a hat. Haven’t had to do maintenance and I’m only learning that now. Of course I paid for someone else doing all those things, and taking all the risks for me.

    But lemmy users seem to have a thing for over simplifying things and decide what is and isn’t excessive based on somethig that comes out of their ass. $300 dollars in this case.