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The point of individualistic free market deal making is that it forces two people to find an overlap in their interests, then hold each other to operating within that overlap.
According to the theory of class interests, deals only happen when someone is being bamboozled. According to the theory of individual interests, deals happen when two people find an overlap in their interests.
I rent my house to a woman who worked as a server in a restaurant until Covid. When restaurants were forced to close she offered me half of the rent as that was all she had. I told her to keep it, not worry and stay safe. This was when there was still a lot of uncertainty. After 3 months she started paying me again without me asking. Do you think I'm a terrible person?
You are a landlord, you have to be evil /s
That's why having a good relationship with the landlord or your renter is just good for everyone.
Where are all these single owner landlords? Everything here is owned by management companies and the 'landlord', more propertt manager, is an employee who gets a free rental unit to live in while they have the job.
In my country it's bad in a different way - there are no single owner landlords that actually manage their lads, they all hand it over to a management company.
I miss the days where you could find a landlord who was an old Italian dude who would manage it all himself. My parents had multiple rentals that was like that. One of them the landlord lived across the street. And all of them the properties were well maintained and we could actually get stuff fixed. And half the time we'd end up staying there 2-6 years longer than the lease agreement.
Now you can't find that to save your life, our current house, sure rent is comparatively low as we got in before the rental crisis. But they don't fix shit and when they do, it's half assed and dad ends up having to fix the fix.
The lack of communication and human connection between tenant and landlord results in problematic treatment and negligence. That connection honestly keept the landlord honest. We were friends with all our single owner self managed landlords, and any inspections we had usually meant cracking a beer in the backyard.
Of all the anti-landlord arguments this has to be one of the dumbest. Of course a person is going to try to protect their income. I'm not a landlord but I'm not going to let anyone jeopardize my job.
Collecting rent as an income is different than having a job.
So?
"They might not treat you like shit, but when push comes to shove they will put their income before your wellbeing." Yes, you know, just like any business. Just like you do for them. Would you pay them extra rent to improve THEIR wellbeing? No? Why would you expect the opposite?
Just because you have a more personalized relationship with your landlord than the McDonalds down the street, why would you expect that they let you stay in their house for free when you lose your job? Do you expect McD's to give you a free meal if you walk in after you've lost your job? For a month? For 6 months?
I own a 2nd house across the street from mine that I rent to my parents. After I pay mortgage, taxes, and insurance, I probably lose about ~$100 each month in that arrangement. (This is cash flow. Increasing equity means I'm making money overall, but not a ton). I charge them $3000 per month which is actually below market rate here and they have good retirement savings so they can easily afford it.
If they were a normal tenant and they quit paying mortgage I would lose $3k out of pocket each month. $18k if they didn't pay rent for 6 months. $36k if not for a full year. For my parents I would just eat those costs. It would hurt, but I would get by. Do you all expect that I should do that for any random person I'm renting the house to? Should I also continue working for my boss also if he quits paying me? Do you pay rent for your neighbor if he loses his/her job?
I really don't get the landlord is evil view. The landlord has an asset (a building and property) and they're renting it out. It's a business, just like if they're a restaurant or a construction company. Unless they have a monopoly on the land and buildings in your area, I don't see how they're any more evil than the other businesses you're dealing with every day.
Best comment. Thanks 👍