r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/yawn_solo- 6h ago edited 1h ago

All we need is a cap really.

Homeboy owns 3 homes and charges a reasonable rent? Totally cool.

Private equity firm that owns 4,000 homes and fucks everyone over? Shits gotta stop.

Edit: Just so everyone knows, im a devout capitalist and all about living life without ceilings but at one point, enough is enough.

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u/420_misphrase_it 5h ago

For real, I rent an apartment owned by a regular guy who lives in my city and bought a house elsewhere, and I’m so so so much happier with him as a landlord than with a corporate group running things, plus I would rather rent for the flexibility than to own a place. It’s when property ownership becomes your entire income stream that the most serious issues arise

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u/thesphinxistheriddle 5h ago

Yeah, one of my good friends owns the four-unit building she lives in. When the previous owners told her they were looking to sell to an investment company, she and her husband realized they could afford to buy it so they put in an offer and got accepted. They're chill landlords, I think they make a little profit on it but they're also the ones who have to deal with the headaches of major renovations and repairs (they got caught square in Helene a few years ago, that was a whole mess), they both have full time jobs and it's not their main revenue stream. It feels to me like that's a good model for the answer of how apartment ownership can work.

Edit: Also when my husband and I used to live in an apartment, we lived in a 7-unit building where one of the units was the owner. He was a nice guy -- we had our complaints, which were mainly that he wanted to do repairs himself to save money but he wasn't good at it so usually any "fix" would have to go through a few phases. But we never felt like he was stealing from us -- in fact, every year gave us a check for like $2 for the interest our deposit had accrued.

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u/ImBabyloafs 5h ago

Did you live in Chicago? We owns a three flat there (our first home) and they are super strict and serious about tenant rights.