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Pure profit? That has to be one of the most ignorant comments made to date. Go ahead start renting out properties under your own terms and let us know how that works out for you.
This person obviously has no experience in actually renting a home and seeing net profit.
Shelter is among the number one most critical and basic human needs, along with air, food, and water. Rentals are nearly pure profit, even after taking into account millions of dollars in renovations across multiple properties, as well as maintenance and upkeep. It is profiteering in its truest form, taking a rare resource of a critically needed commodity to exploit the desperate through price gouging and price fixing. In any other industry, this would be a heinous crime, but somehow landlords have been overlooked by the legal system.
We have a landlord problem in America. Why is this a landlord problem? It is a landlord problem because as need has gone up and income has gone down, which should have drastically reduced rents, rents in America are at an all-time high in many major cities, and are still going up every single year. Effectively, landlords are pricing half of Americans out of having a place to call home. It is not a wonder why the homeless population in every major U.S. city is skyrocketing. The problem of income in America is not in fact income. The problem in America is the cost of rent.
It's time to hold the landlords directly responsible for their crimes against humanity.
Good Luck!
Oh come on. One owner here who has a rental unit works as a tech in a hospital. He is not at all rich. He depends on the income generated to pay his own mortgage.
After dues and property taxes and repairs when needed, it is not mostly profit.
It takes capital and risk to harvest profit from rentals — just like stocks or anything else. Are you railing against the people that steadily invest say $150/week in the stock market for 40 years — harvesting any dividends along the way?
If rental property was the be all end all of investments — to the point of being comically profitable — EVERYONE would do it. HOWEVER, there are plenty of people with money who never owned a rental property.
And like I said — do you also support free food for everyone? Free clothing? Free transportation? Free electricity/water?
Where do you draw the line on this slippery slope? Do you set the prices of homes? Is their some sort of lottery to have a chance at buying the artificially low valued homes? Couldn’t we just have government ran apartment buildings that can house thousands upon thousands in subsidized housing?
My Dad had a couple of rental houses when I was young. One of the renters fell on hard times. My Dad didn't do anything about non payment of rent for 6 months, because he is a very kind person. Didn't want to put anyone out, but he eventually had to, as he couldn't afford not to get a paying tenant in.
They destroyed the house. No more rentals for him after that.
And like I said — do you also support free food for everyone? Free clothing? Free transportation? Free electricity/water?
Let me give you an example of illegal profiteering because you obviously don't get it. If food becomes suddenly scarce during this Covid 19 pandemic and stores exorbitantly raise the price on food, they are guilty of the crime of profiteering, which comes with strict legal penalties and jail time. The same would go if all Pharmacies colluded to raise the price of face masks and hand sanitizers to unreasonable levels. However, when landlords do it, no one seems to bat an eye.
It seems that no one has ever brought suit against landlords and a property management agencies for profiteering, despite it clearly being just that. Moreover, with decreased incomes and a desperate job market, rents are getting so high in some areas, that the landlords are directly responsible for the homeless problems.
This is a sociological problem, an ethical problem, a moral problem; and as such needs to become legally enforced. When it comes to regulating the parasites of America, there is none that is in greater need of extreme regulation than America’s landlord market.
Let me give you an example of illegal profiteering because you obviously don't get it. If food becomes suddenly scarce during this Covid 19 pandemic and stores exorbitantly raise the price on food, they are guilty of the crime of profiteering, which comes with strict legal penalties and jail time. The same would go if all Pharmacies colluded to raise the price of face masks and hand sanitizers to unreasonable levels. However, when landlords do it, no one seems to bat an eye.
It seems that no one has ever brought suit against landlords and a property management agencies for profiteering, despite it clearly being just that. Moreover, with decreased incomes and a desperate job market, rents are getting so high in some areas, that the landlords are directly responsible for the homeless problems.
This is a sociological problem, an ethical problem, a moral problem; and as such needs to become legally enforced. When it comes to regulating the parasites of America, there is none that is in greater need of extreme regulation than America’s landlord market.
Good Luck!
the crime is not profiteering, it's called price gouging and yes it is regulated because it occurs spontaneously to sudden movements in the markets resulting from disasters. The rental market is hardly one that is subject to this kind of price manipulation due to the longer term nature of the rental agreements.
You're delusional and your anger is completely misdirected. You've obviously had something happen to you that is coloring your view of this issue. Your anecdotal experience is not something that is widespread even if you believe it to be.
Now go get some therapy to get over your anger issues.
Let me give you an example of illegal profiteering because you obviously don't get it. If food becomes suddenly scarce during this Covid 19 pandemic and stores exorbitantly raise the price on food, they are guilty of the crime of profiteering, which comes with strict legal penalties and jail time. The same would go if all Pharmacies colluded to raise the price of face masks and hand sanitizers to unreasonable levels. However, when landlords do it, no one seems to bat an eye.
It seems that no one has ever brought suit against landlords and a property management agencies for profiteering, despite it clearly being just that. Moreover, with decreased incomes and a desperate job market, rents are getting so high in some areas, that the landlords are directly responsible for the homeless problems.
This is a sociological problem, an ethical problem, a moral problem; and as such needs to become legally enforced. When it comes to regulating the parasites of America, there is none that is in greater need of extreme regulation than America’s landlord market.
Good Luck!
Houses are not a consumable product like hand sanitizers or TP. The analogy doesn't really make much sense because hand sanitizers can be used up fairly quickly while houses are not.
That group will not be evicted, nor do they have any obligation to those who CHOSE not to pay.
In a crisis, there is no foolproof way of knowing who chose not to pay and who couldn't pay. Give them the benefit of the doubt. They should still get black marks on their credit if they don't pay, but the eviction should be delayed until July 1st. In other words, for the few months, it should be like credit card debt where you pay it in order to preserve your credit and avoid garnishment, but not under the threat of homelessness.
In a crisis, there is no foolproof way of knowing who chose not to pay and who couldn't pay. Give them the benefit of the doubt. They should still get black marks on their credit if they don't pay, but the eviction should be delayed until July 1st. In other words, for the few months, it should be like credit card debt where you pay it in order to preserve your credit and avoid garnishment, but not under the threat of homelessness.
There are lots of people not experiencing any financial trouble who aren't paying because they feel they don't have to.
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