this post was submitted on 22 Oct 2023
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While I agree to a point, apart from property tax and employees there's more costs that i face so the tenant doesnt have to.
Insurance (both from natural causes and unnatural damages), the aforementioned property tax, waste and fresh water, appliances that have to be replaced, corrosion damage, trash disposal, street cleaning etc.
I get the slight feeling that you only ever rented? This is all part of the rent. You are paying a part of all this with your rent. I get an average of 400 before tax a month on each unit.
You think the eingle mother of 2 could afford a mortgage of more than the rent (US centric, in Europe it'd be a loan) and all the running costs?
Wherever I have rented, I paid for my electricity and water usage. So unless you're talking about your own electricity and water usage, I'm not sure what you mean by "facing costs so the tenant doesn't have to". Structural insurance is not a cost the tenant would bear themselves if you didn't, since they can't take out insurance on a structure they don't own. So if you weren't bearing that cost, your property would simply be uninsured. The rest are pretty much your business costs.
You'd be mistaken. I have been in the fortunate position of not having to rent for the past ten years - I've dealt with too many shitty landlords and middlemen to ever want to do it again. And the same way you don't care if a tenant's salary is going up enough to be able to afford your rent increases, I don't care what you make on renting out a unit. You could be breaking even for all I care. Your business model is predicated on people being able to afford your rent, and if purchasing (or, if you will) renting power is reducing across the board due to ever increasing cost of living, well, then you don't have a viable business. Nobody forced you to be a landlord, nobody ever said your investment was going to be risk-free.
In many markets, private landlords set their rent so that the renter is pretty much paying the mortgage on the rented property, plus the running costs. The Australian market in particular is so inflated right now that many renters would actually be better off paying a mortgage on the same place they're renting.
Ok, cool. My Tenants don't.
Cool, not Australian.