this post was submitted on 13 Sep 2024
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They do create value. They provide maintenance free housing as well as short term housing (short term as in 1-3 years.) Not everyone wants to stay in the same location for 5+ years. If you move around alot It you want to rent is usually the better option.
Now sure you could argue they are over charging for that service but that doesn't mean they aren't providing value.
The only reason why we are having issues is because there is a housing shortage that is raising the price and large companies have taken advantage of this by buying up all the houses at the crazy price and renting them out at crazy rent prices eating up the market for actual people to want to buy a house.
The ability to rent is useful, but the idea that endlessly profiting off of the same property and doing minor maintenance is creating Value is silly. There's no Value being created through simply owning something. Maintenance creates Value, yes, but that does not make up anywhere close to the profit of landlording.
Value is created by the use of something. If someone is living in a house then it is providing value.
As long as the something is useful it can provide value endlessly.
What is "Value?" We are talking about different things here under the same term. You are referring to "Use-Value" as Value itself. A Use-Value being created has a Value, it will provide it's Use-Value until it is consumed fully.
No. It's not large companies. It's a sickness inherent in the system and exactly what this is taking about. The only service being provided is leveraging their own credit to get a mortgage from the bank and then paying that mortgage and taxes with rent. They do that because it will decrease supply and increase value. And that's a parasitic practice done not just by large companies by any means. In my city they even subcontract for maintenance and also pay for that out of the rent. If we're doing this shit, why exactly aren't we just letting the renters own their equity for paying the goddamn mortgage. It's a disgusting system.
Keep in mind this isn't always the case. Landlords where I used to live are increasingly requiring tenants to pay for some maintenance costs. A past landlord had us pay for anything $300 or less.
Where in the world is that? I have never heard of renters paying for maintenance.
In fact, every single rental agreement I signed over 25 years said "contact the landlord if there is a problem" which was backed up by state law.
Idaho, the South of the North. I now live in Washington, where that kind of shit doesn't fly.
This incentivizes the tenant to worsen any problems so the landlord has to pay.
"Free" as it isn't the renters responsibility. If something breaks they call the landlord and say fix it.
Obviously the maintenance cost will be baked into the rent cost, or as an added fee as shown in your example.
We had to fix it or arrange to have it fixed, then the landlord would verify it was fixed to their satisfaction. The landlord was otherwise hands off until it exceeded the cost limit. This was the norm for the area.
Ahh ok, I miss read your comment.
No, you're fine! I didn't specify. I lived with it for so long, it didn't even occur to me to outline the process.
Robbing tenants of potential equity is not a service.