Comment

Comment on When leftists say "landlord are parasites" or similar dislike of landlords, do they also mean the people that own like a couple of houses as an investment, or only the big landlords?

masterspace@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

Lots of perfectly nice, pleasant, and moral people do jobs that make the world a worst place because of the circumstances they find themselves in.

Unless your aunt is only charging them what it costs her to operate the buildings + a reasonable hourly wage for the actual time she spends on the house every year, then yeah it’s immoral.

If she puts in 10 hours a month and charges rent that is equal to her costs (not the property / mortgage costs, but just the operating, and maintenance costs) + 120hrs of her time per year x ~$25/hr (or whatever wage is livable in your area) then it’s fair, but realistically that would mean she would be charging ~$800 / month for that town home, and I’m guessing she’s charging a lot more. In effect, that means that she is making renters pay for her mortgage while she’s not working, and at the end of the day will end up a multimillionaire off of her tenants’ hard work.

source

Sort:hotnew top

mke_geek@lemm.ee ⁨4⁩ ⁨weeks⁩ ago
By your logic, what happens when the roof needs to be replaced and it costs $15,000 to do that? The rent goes up by $15,000 that year? That’s ridiculous.

This is why rent is higher than a particular year’s costs – it includes capital costs over a period of time. $15,000 over 15 years is $1,000/year or about $84/mo. Add that to the cost of landscaping, utilities, turnover costs, plus a wage for the owner. Why is the wage $25/hour? Why not $100/hour? It’s a skilled job.

source
- masterspace@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago
  
  By your logic, what happens when the roof needs to be replaced and it costs $15,000 to do that? The rent goes up by $15,000 that year? That’s ridiculous.
  
  This is why rent is higher than a particular year’s costs – it includes capital costs over a period of time. $15,000 over 15 years is $1,000/year or about $84/mo.
  
  I was including ongoing building maintenance costs spread over time as part of operating costs.
  
  Add that to the cost of landscaping, utilities, turnover costs, plus a wage for the owner. Why is the wage $25/hour? Why not $100/hour? It’s a skilled job.
  
  Lmao, no it’s not. It does not require a degree or any kind of specialized training. And tell me what landlord actually spend 10 hours per month working on an individual property, every month. If you want to nitpick the example we should lower that to probably 1.
  
  source
  - mke_geek@lemm.ee ⁨4⁩ ⁨weeks⁩ ago
    How long have you been a landlord to know exactly how many hours a landlord works in a month?
    
    source
    masterspace@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago
    I’ve been in contract with them for 15 years and have a pretty exact idea of how much work they put in and how much they spend, read: far less than their own house and 1 hr a month on average is about right.
    
    source