munchingzia t1_j8n8uc4 wrote
Reply to comment by E0H1PPU5 in What can I do about exorbitant rent increase? I know all municipalities have their own laws regarding rent increase, but who do I contact? by AhoyGoFuckYourself
since you mentioned you hate landlords themselves , im curious to hear your solution
E0H1PPU5 t1_j8ndyvv wrote
My man….since the dawn of man kind, people have struggled with finding places to live. For all our brilliant minds and trillions of dollars, no one has come up with a solution that actually works.
And you think I can solve the unsolvable in a single Reddit comment? Adorable.
Here’s a start- things that are necessary to sustain life shouldn’t be profit centers for corporations or governments. How’s that?? Human beings, by right, should be granted the food, shelter, water, and medicine that they require to stay alive. The fact that we have turned all of those things into multi-billion industries is despicable.
So step 1- Federal restrictions on for-profit use of any fundamental, life sustaining, resource.
munchingzia t1_j8neo5t wrote
who said anything about corpos and governments? alot of landlords are homeowners too, especially in NJ.
i cant speak for corpos and LLC owned apartment complexes, nor do i want to defend them.
E0H1PPU5 t1_j8nfamq wrote
Federal restrictions on for-profit use of any fundamental, life sustaining, resource.
I think that’s pretty damn clear.
munchingzia t1_j8nh3om wrote
so if i own a house in NJ, u dont want me to let anyone rent it?
E0H1PPU5 t1_j8nhl0a wrote
Are you renting it at a reasonable and fair cost that covers the cost to pay the taxes and maintain the property??
Or are you renting it at an unreasonable cost that covers all of the expenses of owning and maintain that home…..plus enough for you to pay most of a mortgage on a second home?
This are two very different things, no?
munchingzia t1_j8niksp wrote
it was a yes or no question , but yes those are 2 different things. I think we’re clear now.
Btw if a price really is as unreasonable as you say, people arent going to rent from you. theyll move to another house, or another town before they do that. People arent that dumb, give them some credit.
and who the heck charges enough to afford a second mortgage? Thats actually crazy talk.
E0H1PPU5 t1_j8nk9kx wrote
Ummmmm literally every landlord in this state??
In my county, my sister owns a home she purchased 6 years ago. Her mortgage payment is $800 a month. The home directly next door to hers, purchased two years before hers and being used as a rental is being leased out at a rate of $2300 PER MONTH.
The home I purchased this year….my mortgage is $1900 a month. And this is for a house on a substantial piece of property. The rental I left 9 months ago was a home 1/2 the size in less than a tenth of the property and I was paying $1700 to rent that place in a really awful and dangerous town.
If people weren’t making huge profits on leasing out properties, why would anyone be doing it?? Who are you kidding?
As to your comment that “no one would lease if it rent was too high” that’s BS and you know it. To get a mortgage and buy a home you need excellent credit, you need thousands and thousands of dollars in savings. You need thousands more in liquid funds. Buying is just not feasible for many people. The alternative is renting.
Landlords don’t need to compete, there is no surplus of housing….there’s a shortage. They have the luxury of pricing their units and whatever they want and people are still begging to be granted leases. It’s because the alternative is homelessness.
munchingzia t1_j8nm4ap wrote
i usually dont entertain personal experiences , but $2300 in rent is indeed absurd so fuck em, move on.
and i doubt someone is making a profit on a tenant paying $1700 like you keep claiming. Especially in rural Jersey. You really think some landlord in rural Jersey is making enough from their tenants to afford a 2nd mortgage?
if i decided to rent out my first floor, im not going to do it for 700 or $800 . thats not worth the hassle . its not worth having random ppl in my house . so no , not everyone has the luxury of choosing the price. and furthermore, Nobody is going to pay $3000 for a rental in some impoverished town in So. Jersey
E0H1PPU5 t1_j8nn4vz wrote
Buddy. Look at what you’re writing. You really want to sit here with a straight face and tell me that landlords aren’t making profits…they are just buying and renting homes out of the goodness of their hearts?
That’s really what you believe???
munchingzia t1_j8nne9i wrote
im not talking about people who invest in property and flip houses , etc for a living. Im talking about the average person who owns 1 home and rents it out.
either there is some serious miscommunication here , or we both fail to acknowledge each others points
E0H1PPU5 t1_j8nq68q wrote
You think anyone is purchasing an additional home and leasing it out just for fun??
You don’t think that those people are doing it to earn extra money?
munchingzia t1_j8nrfo6 wrote
how many times do I have to repeat myself? I’m starting to sound like a broken record. An average person who owns one house
E0H1PPU5 t1_j8nsbsa wrote
AN AVERAGE PERSON THAT OWNS ONE HOUSE ISNT RENTING OUT THAT HOUSE
munchingzia t1_j8nto5k wrote
cool. but if i decide to rent out one floor or one room, im not making any profits. you were arguing tht literally every landlord in the state was making huge profits.
E0H1PPU5 t1_j8nv9ue wrote
You’re ridiculous. Scroll back to the original comments here and take a look at how far you moved the goal posts.
munchingzia t1_j8nvua0 wrote
in the same way i sound ridiculous to you, you too sound ridiculous to me. i feel like im talking to someone that doesnt speak english.
E0H1PPU5 t1_j8nwl0l wrote
I feel like I’m talking to someone who can’t cope with being proven incorrect and instead of just walking away, keeps doubling down despite there being a written trail of them changing their argument and having to grasp at straws.
munchingzia t1_j8nxsvd wrote
now youre just accusing me of things. whatever. you are not my problem. your opinions are not my problem.
E0H1PPU5 t1_j8nxxcx wrote
It’s not an opinion when it happened….in writing. I am accusing you of things. If you didn’t want to be accused of those things you shouldn’t have done them.
imchasingentropy t1_j8nmeo0 wrote
Simple, set a national tax on rental income over a certain percentage of rental cost. For example, if a rental property costs $1,000/month for mortgage/taxes/etc, allow landlords to charge up to $1,200/month with standard taxes. Anything above $1,200 is taxed at 90%.
It's the basic solution to most problems of wealth inequality in this country, except the rich own this country, so it won't happen.
munchingzia t1_j8nnken wrote
it wont happen cuz at that point its not worth the trouble, and then youre back at square one.
imchasingentropy t1_j8no1g4 wrote
See that's why we need massive taxes on massive profits. People will still provide a service for a fair profit, it will just keep people that are greedy out. This idea that business will dry up if people can't become insanely rich is a lie that doesn't play out in any other developed nation with sensible tax laws.
munchingzia t1_j8npge3 wrote
i wouldnt rent out part of my house for a measly $200 thats just me. Its not worth my time or the hassle.
and pls explain to me how im making a profit if my mortgage + taxes are 3000$ a month? theres no profit in it, its just being used to cover costs.
imchasingentropy t1_j8nq6sk wrote
To answer your first point, good. You're obviously the type of person that would not be a good landlord. The tax works.
To your second point, I clearly used $1,000 as an example. So if your actual costs were $3,000, maybe $3,600 would be fair.
I'm going to stop responding because I get the real feeling that you're not interested in actually considering solutions to this crisis, but simply want to justify your own greedy thoughts. Take care friend.
munchingzia t1_j8nrm5r wrote
Nice job taking the high road. Make a bunch of assumptions, and hit the road. Nice strategy.
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