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Don't be fooled Billy, it's not really a job, more of a parasitic relationship (lemmy.world)
submitted 2 years ago by to c/memes@lemmy.ml
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[–] 16 points 2 years ago (9 children)

Landlords actually do a lot of work. Maintenance and dealing with tenants can easily become a full time job if you have multiple properties. A lot of people buy rentals thinking it's "passive income" and then end up working twice as hard as before.

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  • [–] 35 points 2 years ago

    They're supposed to do all those things but most don't. I'm a condo super and the owners who own and rent multiple units are the worst. Their tenants are always calling me about every issue, and I have to remind them that I deal with the common areas, not the interior of their unit unless there's a flood. Those landlords tend to own multiple units and just assume I will deal with their issues, but I won't. When you own, you're the super, manager, admin, etc. But most landlords I've encountered just wanna collect the check

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  • [–] 14 points 2 years ago (6 children)

    They also assume all the risk of the property too. Tenants can leave as they please but landlords are stuck with the property if the market turns.

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  • [–] 19 points 2 years ago* (last edited 2 years ago) (3 children)

    Landlords also absorb all the risk if the tenants skip out on two months of rent and leave the unit with no appliances, dog piss stained floors, a body sized hole in the bedroom wall, a toilet that leaked noticably but never reported resulting in extensive water damage, etc.

    While its guaranteed that theres a lot of shitty landlords out there, and a ton of price-gouging corporate management companies (who are the real problem these days eith affordability).... I'm fully convinced every user who says "landlords are the devil" are they, themselves, the Tenants from Hell who do not pay the building they live in the tiniest modicum of respect; then wonder why every landlord hates them and hassles them.

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  • [–] 14 points 2 years ago (1 child)

    People will assume you are exaggerating but I will back you up here. These things happen and can all easily happen at one property.

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  • [–] 9 points 2 years ago

    Oh yeah. I've lived it and breathed it... a few times. Cleaning up a ruined house fucking sucks and it's expensive too. Makes me wonder how some people stay alive with how quickly they wreck stuff.

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  • [–] 9 points 2 years ago

    Agreed, there has to be a level of understanding. Just because you live in a space and pay rent doesn’t mean you can go wild and let the place crawl with refuse and roaches. I have an upstairs neighbor in my apartment complex that is the quintessential definition of the renter from hell. And we get all their roaches even though we keep the place spotless. And not to paint the landlords as martyrs here, as they have their own issues, but some people have a bad case of main character complex and think the rest of us that have to suffer with the stench and infestation are just the NPCs.

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  • [–] -5 points 2 years ago (1 child)

    What risk? A landlord that isn't a complete idiot would have set aside some of their extortion money or required a deposit.

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  • [–] 2 points 2 years ago (1 child)

    Do you know how easy it is to do a rental deposit's worth of damage to a property?

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  • [–] 0 points 2 years ago (1 child)

    Do you know how easy it is to extract other people wealth enough to fix it?. Shit happens. Use your that extortion money you've been saving.

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  • [–] 4 points 2 years ago

    Oh wow boo hoo, they have so much risk 😔 they have an entire house that they can sell at any time, who someone else is paying the mortgage of. Oh, the horror! If the market should crash they'll lose the equity another person paid!

    Really the landlords are the victims here, not the tenants paying their mortgage for them plus a little extra for profits. Clearly the tenants have committed the crime of not having good enough credit for a loan, or the crime of not having enough for a down payment, so they aren't worthy of owning property.

    No no it's the landlord who has the real problems, because they could ein a shaky financial situation of "selling the second house iown" if the market dips!

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  • [–] 4 points 2 years ago (1 child)

    Which hasn't, ever.

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  • [–] 2 points 2 years ago (1 child)

    So the 2008 economic crisis never happened? Where I live (Europe) houses are actually going down in value right now too.

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  • [–] 5 points 2 years ago (1 child)

    Going down fractionally, after having grown an incredible amount in the last 3 years. Please don't swallow this obvious bullshit. Prices are high, prohibitively high, and are going to stay that way until everyone bar a few is forced to rent.

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  • [–] 14 points 2 years ago (2 children)

    The places I've stayed so far pay a company to deal with these issues in place of the owner.

    I can't speak on what that costs, however.

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  • [–] 7 points 2 years ago

    Management companies typically take a percentage of the monthly rent (can vary wildly from 8% up to 25%+). This also means they have a vested interest in increasing a building's rent by the maximum legally allowed amount every single year, because it means they make more without doing additional work.

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  • [–] 5 points 2 years ago* (1 child)

    If you have multiple properties you hire someone to do that work. 'Landlords' include property companies that own hundreds of units, which is the majority of ownership in the US. Do you think the owners of these companies are doing maintenance and dealing with tenants? The executives are in effect the landlords, and all the work they do is figure out how to make more money off of their company's investments, aka figure out how to better extract income from tenants.

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  • [–] -1 points 2 years ago (1 child)

    If you're talking about the owner of a property company, that's a company owner not a landlord. Still a tough job to run a company.

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  • [–] 2 points 2 years ago (1 child)

    What does it mean to be a landlord then? Are you saying the properties owned by these companies have no landlord? I don't doubt it's a tough job to run a company, I still don't think that justifies the amount of our profits we give up to ensure we have shelter.

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  • [–] 2 points 2 years ago

    Properties owned by a corporation do not have a landlord. They are owned jointly by a group of investors who assume the financial risk. You can be a property company investor too if you want, there are a number of such companies called REITs that sell shares on the stock market and return a quarterly dividend.

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  • [–] 5 points 2 years ago

    It's genuinely not easy, both my parents have owned rental properties at some point in their lives, as a retirement investment. I'd never consider a rental property as an investment myself as a result of what I've seen tenants do to a property.

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  • [+] -12 points 2 years ago (1 child)

    Yeah, these memes are made by kids who have never actually worked at all, much less at upkeep on a property they don't live at. They probably whine about taking out the trash every week and beg their mom for new games while thinking they're independent somehow.

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  • [–] [S] 7 points 2 years ago (1 child)

    Apparently you think Adam Smith is an immature child.

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  • [+] -8 points 2 years ago (2 children)

    Who?

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  • [–] [S] 4 points 2 years ago* (1 child)

    It’s not my job to educate you.

    You expect too much of me to succeed where others have clearly already failed.

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  • [–] 1 point 2 years ago

    I'm not sure if you're serious, Adam Smith was one of the most influential political thinkers during the development of modern western governments and capitalism. His views shaped the discourse of politics heavily in the last three hundred years.

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