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SuspiciouslySuspect2 t1_jd510it wrote

Reply to comment by TMayes86 in Kansas City prevented hundreds of evictions by providing attorneys. Now the program is growing by cragar79

If you didn't require proof of renters insurance (who you can go after in the event a tenant trashes you property, thereby eliminating a judgment-proof tenant), that is your fault. If you could not afford to lower the rent to make your rate of rent competitive when requiring this as a condition, this is again your own fault. If you lacked the resources to afford unforseen expenses related to property ownership and rising interest rates, this is again, your own fault.

Landlords have infinite recourse and ability to mitigate risk. I have been both a renter and property owner, I understand. I could be a landlord, I have the means. I choose not to, because it would be direct participation in an unethical arrangement.

There's nothing to get. Landlord's had enough money to buy ANOTHER house. There's no "woe is me" to be found here. Landlord's chose to make money from someone else paying for the majority of a house that the tenant likely could have afforded to pay for, if artificial, arbitrary barriers to entry were removed.

If you entered into the practice and ended up in a bad financial position as a result of stacking bad investment decisions, it's regrettable you're in that position, but it's entirely of your own making. You chose to engage in a practice that had risk to extract someone else's income as your own wealth.

Nobody holds a gun to a landlord's head to force them into it. You could have taken the thousands upon thousands of dollars and invested them elsewhere, preferably not a practice that makes the real estate market a tiny bit worse for everyone you're ahead of.

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TMayes86 t1_jd5lw81 wrote

You obviously don’t know how renters insurance works and are very ignorant of the full expenses that landlords take on. When you have a government that favors the renter so heavily there is no incentive to to be a landlord anymore. I’m getting out of the business myself due to this fact. You also have no pride of ownership of a property or understand the work that goes into that with a system that mid lease the terms change due to government over reach. Count on seeing far less private ownership of properties and far more of this going towards huge corporate entities. What the government has done during the Covid period has made being a small, private landlord no longer a logical move.

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SuspiciouslySuspect2 t1_jd5q1n4 wrote

Man, I feel so sorry for you hording all those homes to yourself and having others pay for your wealth with their income.

Must be so hard to sit on a property and passively collect cash. Go get a job.

You speak of pride of ownership. I own my home. I also pay for it with my own income, I don't have others pay for my property for me.

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TMayes86 t1_jd61hzw wrote

Here’s your issue. “All those homes” it’s 1 house. I work full time and literally drive for Uber on the weekends to save up enough for a down payment. What you don’t get is that once that house is sold and off the market it is one less house for people to rent and they will be forced to turn towards a giant corporate entity to rent which is always more expensive and less accommodating. Have fun renting from “insert giant corporation here” that will jack rates further and trash the market further because they can afford it. Most landlords only own one property outside of their primary home. It’s this mentality that lets companies like wal-mart destroy towns and run mom and pop businesses out. Wall Street becomes their landlord and they don’t give a crap about the renters.

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SuspiciouslySuspect2 t1_jd62bf6 wrote

Or maybe:

No landlords at all.

This seems to be the concept eluding you. I'm sorry you invested so much into such an unethical business model.

Hoping you choose better with your next venture. I recommend a pizza shop. Everyone loves pizza.

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TMayes86 t1_jd67e16 wrote

No landlords. No rentals. Sounds like a plan.

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SuspiciouslySuspect2 t1_jd7ez00 wrote

I mean yes?

People should be able to own their homes. Renting as be know it is a new phenomenon, rent used to be a pittance, not enough to cover a mortgage. Artificial scarcity and high purchase barriers to entry have twisted it from "gimme a few bucks and you can have a room" to "pay my mortgage and expenses for me and you can live in my property". It's exploitative.

That pizza shop sounds better by the minute.

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