743
Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)
submitted 3 years ago by to c/personalfinance@lemmy.ml
412 comments fedilink hide all child comments
 

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

you are viewing a single comment's thread
view the rest of the comments
[–] 71 points 3 years ago (5 children)

Landlords should pay 100% tax on their empty rentals.

You'll see how fast they will accept any and all new tenants, at a much lower price.

Which would also flood the market with housing, lowering the prices even more until renting becomes an actual beneficial option compared to buying and paying off a loan.

Real estate would also not be seen as an investment anymore.

  • permalink
  • fedilink
  • source
  • hideshow 10 child comments
    •
  • [–] 6 points 3 years ago

    In this case landlords could just pay some money to fake tenants to make their rentals appear occupied (at a ridiculously low price). Rental prices could even rise because of free rentals number reduction and necessity to cover additional expenses.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 5 points 3 years ago* (4 children)

    Real estate should be considered an investment. It's one of the few things people invest in that is actually valuable. It's the speculative and labrynthine financial markets that are the problem in that regard.

    The only reason mega-renters like Blackrock and Vanguard are able to monolithically buy property in the first place is because of dubious speculative earnings and government bailouts.

    It's not surprising that home ownership was actually a lot higher 60 years ago.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 8 child comments
    •
  • [–] 4 points 3 years ago (1 child)

    100% on $0

    Genius

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •