cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there’s still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

  • Olgratin_Magmatoe@startrek.website
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    1 year ago

    it can take 30 years to pay it off.

    It can take 30 years for the tenants to pay it off. Landlords aren’t paying for that out of the goodness of their hearts. It’s instead ultimately the tenants.

    Throughout all that time they are responsible for maintenance, insurance and a litany of other things to keep it from falling into disrepair.

    They hire people to do that, they don’t do it themselves.

    • Manmoth@lemmy.ml
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      1 year ago

      They hire people to do that

      This is why you don’t get it. I spent my childhood cutting grass and repairing shit at a property owned by an elderly family member on a fixed income. We didn’t have money to hire someone to do it and tons of people are in the same boat. We did it for free because it was the best thing for everyone involved including tenants who often stayed for years because it was a nice place to live. No one got rich off of that property believe me.