this post was submitted on 23 Dec 2023
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[–] [email protected] 1 points 11 months ago

I was a landlord for a little while, renting 1 unit in a 2 unit house.

I could have afforded my mortgage and taxes without the tenant.

They couldn't have qualified for a mortgage, and couldn't afford to rent a place half as nice anywhere else in the city because I was charging about half of the market rate.

That's not the same as profiteering corporate landlords, no. But a one-size-fits-all solution isn't going to get people where they need to be either.

[–] [email protected] -4 points 11 months ago (13 children)

Everyone paints landlords as money grubbing evil people. I own a couple rental houses and set prices so that my return is 7% annually. While that may paint me as the description above realize this; that price was set when I set a tenant and only increases with inflation. The majority of my units are 25% below market rates because once I have a good tenant I don't see a reason to make more work for me. 7% return and I never hear from them is worth it in my mind.

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