this post was submitted on 05 Sep 2023
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What service? They own something I need to live. Landlording is inherintly exploitative, there is really no way I can think of that renting out a property is ethical.
Before you say no I can't live in a tent or my car that's a crime. Sure technically I could but I wouldn't be able to park or put up a tent without tresspassing or violating a no parking order, also not allowed to live in a caravan park either.
They provide a place to live that you can move into almost immediately with little upfront money, and with no worry about any maintenance costs that are associated with owning a property.
It's very useful for social mobility as it allows people to move around for work relatively easy if they plan on relocating, especially when they're young.
Buying a property not only takes a sizeable upfront amount of capital but it's also a very slow process. I think it took 6 or 7 months for us to go from putting an offer in to getting the keys.
That's the service and that's why a rental market is important. I'm not defending scrupulous landlords here, they're 100% an issue and there definitely needs to be changes to address that.
Problem is that the upfront cost for renting is still steep. One months rent as a deposit (which 9/10 you won't even get back even if you left the property pristine) on top of your first months rent is quite expensive, and most mortgage payments people make are also usually cheaper than what they would pay renting but they do not have the startup capital to even get on the ladder.
you also have to ask permission to even decorate the place and more than likely if you do you then have to put it back the way it was. So you are stuck with lovely magnolia walls, and if you want to redo the bathroom you best be careful that the landlord doesn't decide your renovations increased the value and charge you more rent because of it.
Of the people I know who rent, which is basically everyone in my age bracket, they want to own a property but cannot afford to it's a massive issue.
I agree buying properties takes ages I cannot dispute that, and you can still get screwed by unscrupulous sellers.
The place I live now is the best rented property I have and that is only because the estate agents actually listen to me and fix issues promptly. Which as far as I am concerned is the bare minimum which most just don't do, you also have no recourse because the landlord has way more power over you.
Don't get me started on flat inspections every 3 months is a piss take.
No, owning rental property is not exploitative. It gives people a choice of where to live. No one rental property is required for anyone to live -- there's millions of choices in the United States alone for places to live.
And yes, camping is legal. People camp every single day in the United States. And yes, people own RVs. They live in them and travel around the country. This is legal. Both of these give even more options for places to stay.
It doesn't though you get a property you don't own and you enrich someone else instead of making enough money to actually own a property which you won't be able to afford anyway
Good for the USA I suppose not for me though, and that falls apart if the person wants to live in or near a city
Paying rent is trading money for a service.
Owning a property means shelling out money, sometimes unexpectedly. The furnace goes out in the middle of winter? Better fix that quick. Don't have the money? Let it get to freezing now your pipes burst and that's just thousands of dollars more to spend on top of the thousands of dollars to replace the furnace.
If I owned the property I could get the boiler fixed faster but seeing now I have to wait on the landlord and hope he understands the urgency, or I fix his property and good luck for me getting that money reimbursed.