Of all the anti-landlord arguments this has to be one of the dumbest. Of course a person is going to try to protect their income. I'm not a landlord but I'm not going to let anyone jeopardize my job.
"They might not treat you like shit, but when push comes to shove they will put their income before your wellbeing." Yes, you know, just like any business. Just like you do for them. Would you pay them extra rent to improve THEIR wellbeing? No? Why would you expect the opposite?
Just because you have a more personalized relationship with your landlord than the McDonalds down the street, why would you expect that they let you stay in their house for free when you lose your job? Do you expect McD's to give you a free meal if you walk in after you've lost your job? For a month? For 6 months?
I own a 2nd house across the street from mine that I rent to my parents. After I pay mortgage, taxes, and insurance, I probably lose about ~$100 each month in that arrangement. (This is cash flow. Increasing equity means I'm making money overall, but not a ton). I charge them $3000 per month which is actually below market rate here and they have good retirement savings so they can easily afford it.
If they were a normal tenant and they quit paying mortgage I would lose $3k out of pocket each month. $18k if they didn't pay rent for 6 months. $36k if not for a full year. For my parents I would just eat those costs. It would hurt, but I would get by. Do you all expect that I should do that for any random person I'm renting the house to? Should I also continue working for my boss also if he quits paying me? Do you pay rent for your neighbor if he loses his/her job?
I really don't get the landlord is evil view. The landlord has an asset (a building and property) and they're renting it out. It's a business, just like if they're a restaurant or a construction company. Unless they have a monopoly on the land and buildings in your area, I don't see how they're any more evil than the other businesses you're dealing with every day.
Best comment. Thanks 👍
There shouldn't be a conflict. We should want new landlords to enter the system and provide cheaper housing.
Cheaper housing aligns with renters interests.
There is no limit on the amount of housing that can be built.
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