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Reason I'm asking is because I have an aunt that owns like maybe 3 - 5 (not sure the exact amount) small townhouses around the city (well, when I say "city" think of like the areas around a city where theres no tall buildings, but only small 2-3 stories single family homes in the neighborhood) and have these houses up for rent, and honestly, my aunt and her husband doesn't seem like a terrible people. They still work a normal job, and have to pay taxes like everyone else have to. They still have their own debts to pay. I'm not sure exactly how, but my parents say they did a combination of saving up money and taking loans from banks to be able to buy these properties, fix them, then put them up for rent. They don't overcharge, and usually charge slightly below the market to retain tenants, and fix things (or hire people to fix things) when their tenants request them.

I mean, they are just trying to survive in this capitalistic world. They wanna save up for retirement, and fund their kids to college, and leave something for their kids, so they have less of stress in life. I don't see them as bad people. I mean, its not like they own multiple apartment buildings, or doing excessive wealth hoarding.

Do leftists mean people like my aunt too? Or are they an exception to the "landlords are bad" sentinment?

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[-] ManuLeMaboul@lemmy.world 12 points 1 week ago

We mean all of them. Being a landlord is racketeering other people's hard earned money for the human right of being housed, they're all parasites that grabbed the housing market to a point nobody else can buy anything to actually live in.

[-] ghurab@lemmy.world 12 points 1 week ago

What's with this black and white mentality? They're absolutely leaches, but that doesn't fully define then. They are probably other things as well, that are hopefully good.

[-] dangling_cat 11 points 1 week ago

Let’s say the city proposes a bill to build public housing apartments next to your aunt’s houses. This will guarantee reducing the rent and potential tenants your aunt collects. Now, because your aunt took so much loan from the bank and can’t pay it back, they will have to foreclose on the houses. Do they vote against the bill? You bet your ass they will.

[-] enbyecho@lemmy.world 11 points 1 week ago

I have several friends who could not possibly afford to own a home without renting out a room. I was in that situation myself for many years, having barely scraped together enough to buy the property for my farm. I mean without renting out a room I wouldn't have been able to eat, much less pay the mortgage.

But nope, apparently this makes us parasites judging from all the comments here, like this one:

"If you make a profit for allowing another person shelter (particularly if you don’t need that space for yourself and/or your own family), then you are a parasite."

Obviously there is some ambiguity around the word "profit" in this context. Owning land or a house is almost always "profit" but that "profit" isn't usually realizable except over very long time scales.

But hey, nuance I guess.

[-] PixellatedDave@lemmy.world 11 points 1 week ago

My biggest gripe is the system. I am deemed not financially able to own a mortgage but I am deemed able to pay nearly double to pay off someone else's mortgage.

Yes I am bitter and I don't see why someone should be able to make money off me like this.

[-] Maggoty@lemmy.world 10 points 1 week ago* (last edited 1 week ago)

Depends on the person. There are people that mean every landlord. Their reasoning isn't as bad as you might think either. The main issues are that they still exert control over property, a form of private governance; they're denying the same financial stability through housing equity to another family; and they can artificially raise the price of housing.

That happens at every level of being a landlord. Of course the systemic problems only get worse as the number of owned or managed units goes up.

Most people are thinking about the giant corporations holding thousands of units.

[-] ABCDE@lemmy.world 10 points 1 week ago

Those buying up properties which prevent people from getting on the property ladder, not owning a couple. I'm left-wing; I bought land, built a small house (small as in the size of a one-bed apartment), current rent it out which pays for my rent in another place. The landlords I've had over the past few years have been great, they are also living in the same place they rent out, those people are good.

[-] Nibodhika@lemmy.world 9 points 1 week ago

It's complicated, for me personally having one or two extra properties you're providing a service, not everyone wants to buy a house at every moment, e.g. I recently moved to another city and wanted to live in a neighborhood for a while before buying something. The more you have, the more part of the problem you become, because when someone wants to buy somewhere they now can't because people own it for renting. Also, again personally, if the value of rent is higher than the value of the mortgage, then you're ripping people off, because you're essentially buying the house with their money while they can't buy a place of their own. As an example, I want to buy a place of my own, but every place here is so expensive because people buy them to rent, because the rent is higher than the mortgage so if you have the initial money buying a house is essentially free money, however rent is so high that getting the initial money is really hard and people are stuck with paying more to own nothing.

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[-] yarr@feddit.nl 9 points 1 week ago

Meta commentary: note that "LEFTISTS" are not this bloc that is perfectly aligned. You need to ask the individuals whether they hate small scale as well as large scale landlords.

There is no universal "LEFTIST" belief. People exist at every point along the spectrum. Stop thinking in binary terms and you can have far more productive discussions with people.

[-] woop_woop@lemmy.world 8 points 1 week ago

If you do it for side money, you're only accomplishing that by fucking someone else over. Otherwise you wouldn't make money.

[-] thenextguy@lemmy.world 8 points 1 week ago

In order for there to be any rental property at all, someone has to own it and be the landlord. Unless they think it should be the state. Or unless they think that everyone should always own the property where they live.

I didn't think there is much of a logical argument for having no landlords whatsoever.

Who owns a hotel? Isn't that just another type of landlord?

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[-] AbouBenAdhem@lemmy.world 8 points 1 week ago* (last edited 1 week ago)

There are lots of kinds of “leftisms” with lots of different attitudes toward landlords—but to take Georgism as a concrete example that exclusively focuses on land ownership:

Georgists would say that the portion of the rent equal to the market rent of the unimproved lot—including the value generated by the presence of the surrounding community and infrastructure—should go back to the community rather than the landlord, but the portion of the rent contributed solely by the presence of buildings and other improvements should go to the owner of the improvements.

[-] grumpasaurusrex@lemmy.world 8 points 1 week ago

I actually have a related question that I'm curious to hear takes on. I'm a leftist, and I own a 1-bed apartment where two good friends of mine rent the apartment right next door. Their landlord is planning to sell next year, and they don't have the ability to buy it. So depending on who does buy the place, my friends could be out of a home. My sister and I could combine finances to buy their unit (with a mortgage), and ensure that my friends could stay where they are. This would be a bit of a financial burden but doable, and we would need to charge rent to pay back the mortgage.

Would this be a net good or a net evil? I feel very conflicted about potentially being a landlord (especially for friends) but also don't want them to need to move.

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[-] CodeInvasion@sh.itjust.works 8 points 1 week ago* (last edited 1 week ago)

Based on the amount of vitriol I've personally received on this site for renting one property while I am temporarily relocated to attend school, the answer is yes.

For some reason everyone views being a landlord as easy money. But in reality returns on investment are worse than the stock market for being the landlord of a single family home.

Edit: Isn't it funny how the critics below didn't even ask questions about a specific situation where it does make sense to rent out an owned home? Instead of trying to understand why someone might make the choice they make, they sling insults and make wide sweeping assumptions to reinforce their skewed world view. Honestly it's this shit that's why Trump won. Leftists can't see the forest for the trees and are willing to engage in ever escalating purity tests that only alienate other sympathetic voters to leftist causes.

I worked hard to be able to own my own house. Saved money and took out a loan. I never received a penny from my parents or some inheritance from a family member that died. A greater return on investment can absolutely be made by investing in the SP500, returns on investment for single family homes will be worse. The SP500 can be expected to rise an average of 10% per year. A single family home on the other hand will increase by 4.3% per year. With interest rates being higher than that level appreciation, there is effectively no profit from the leverage that can be typically seen by borrowing money. Renting is typically 37% cheaper than buying on a month-to-month basis. Owners don't expect to Break-even on a home until after 5-10 years of ownership (depending on the city). Over 2/3 the cost of a mortgage go towards loan interest and taxes. Now what does a house get you then if there are all these downsides? Freedom. Freedom to decorate how you choose. To remodel, to build a deck, install Ethernet throughout the house, add an extension. But most of all, it gives long-term stability. After that 5 year period where a homeowner is taking a loss because of buying, they are finally ahead financially of a renter. This is why it doesn't make sense to sell a home due to short-term circumstances, because owning a home is inherently a long-term benefit. Especially when one loses 10% of the the value of a home selling it when it would take 3 years for the home to even grow to the point where that cost is covered by increases in home value, which is not even remotely guaranteed, as evidenced by home values only increasing 0.12% after falling by 5% the previous year.

[-] kryptonianCodeMonkey@lemmy.world 7 points 1 week ago* (last edited 1 week ago)

So as always, it depends and there is a spectrum. The scum of the scum are slum lords, i.e. landlords who buy property, do not fix up or maintain it, fill it with any old tenant that is desperate enough to take it, will evict someone at the drop of a hat, and constantly charge exorbitant amounts on property the own outright because the property value went up this year. It doesn't necessarily have to be that bad, but people that buy property simply as an "investment", i.e. get passive income from people with less money than them to buy property, are leeching off the less fortunate. There are certainly scales of badness to that, but that idea is simply immoral.

But there are other situations where one may be a "landlord" and it's not really a moral problem. For example, a cousin of mine had to work overseas for a bit over a year and was put up in a hotel during that time. He didn't want to sell his home, as he would be returning to it later, but also didn't want it to sit empty. He ended up signing a year long lease over to a couple students, charged them little more than the mortgage (enough to cover the mortgage, taxes and any minor repairs that may be needed after they left) and returned home to a house that was still in decent shape, hadn't had any break ins, infestations, or damage from the elements, and the students got some inexpensive housing for the year. No one was taken advantage of and he wasn't just milking poor people for profit. Everyone won. That is clearly different.

[-] Free_Opinions@feddit.uk 7 points 1 week ago

You asking wether people making blanket statements have any nuance in their views?

In the most cases I'd say no.

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this post was submitted on 09 Dec 2024
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