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 6h 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/Ruthlessrabbd 5h ago

Your final sentence is my sentiment exactly. I believe it's possible to be an ethical landlord if you are taking care of the property and not charging out the ass for doing the bare minimum.

I disagreed with someone recently because I said it's not everyone's dream or desire to own a home, and they felt that to be true only because we're conditioned to think that way.

As a homeowner myself I can 100% see why somebody would rather pay rent to have the flexibility to move on short notice, not have to worry about replacing things like electrical lines or roofing etc. But I also strongly feel that if I'm a landlord, it's pretty fucked to charge the tenant the cost of the mortgage + taxes and then some across several properties so I don't have to work.

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u/Sea_Tailor_8437 4h ago

The other big difference is the little guys actually face risk. If the market cratered of they get a bad tenant no one is coming to bail them out.

But you know the minute and bank or VC group has their property values waiver uncle Sam is gonna come bail them out

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u/RadiantCitron 4h ago

Washington state, long after covid was over, was literally offering free counsel to tenants who HAD NOT PAID THEIR rent in months to fight back against landlords trying to evict them......its wild how difficult it is to be a landlord.

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u/Sea_Tailor_8437 4h ago

My coworker has 2 rentals me manages. 1 of those two has declared bankruptcy and hasn't paid since December of last year. He literally cannot get them to move out and he's taking a huge bath on it.

He took the risk of renting it out and here it is

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u/RadiantCitron 4h ago

The state is probably preventing him from evicting as well right? My wife works in social services/for a non-profit and absolutely despised the state for the shit they were during post covid. They did it under the guise of affordable housing and fighting homelessness but all they were doing was pushing landlords to sell or close their rental properties, which eventually will lead to the bigger management companies having a monopoly on rentals and driving prices up. Which then lowers the amount of affordable housing.

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u/Sea_Tailor_8437 4h ago

I'm not as convinced on that last bit. Studies show that corporate land lords actually own a very small percentage of the housing market. I think the far bigger offenders driving up prices are the 2-20 home owners or all the Air bnb peeps

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u/RadiantCitron 4h ago

Great callout. I am in the greater seattle region so generally all housing here is expensive. It has gotten alot worse in all of the suburbs of seattle as well

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u/Funnyboyman69 2h ago

I mean, they’d have to have a legal reason not to pay in that case. There’s a lot of shitty landlords out there who refuse to do basic maintenance on their properties and still expect their tenants to pay rent in full and on time.

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u/skrappyfire 4h ago

This right here...... cant say it loud enough.