Does having an AirBNB setup make someone deserving of the guillotine or does that only apply to owners of multiple houses? What about apartments?

Please explain your reasoning as well.

  • Neuromancer@lemm.ee
    414·
    7 months ago

    People have some myth of passive income. I sold all my rentals because they were taking to much time. I never turned a profit but it was good for my taxes. If you want to slum lord you can turn a profit but even I dislike those people.

    • antlion@lemmy.dbzer0.com
      4·
      7 months ago

      Market rent is basically set by current home costs. Any long term owners who have 15+ year old tax base essentially get to pocket the difference due to lower property taxes. Any newer buyer who is renting can only cover costs.

      • Neuromancer@lemm.ee
        27·
        7 months ago

        That is incorrect. I can tell you’ve never rented to people rent is set by the market. Supply and demand.

        It doesn’t matter if the house cost 800k. If the market rent is 2k a month. That’s all you’ll get.

        In the area where I had my rentals, the houses are 500k but the rent is only 1k. Now I bought in 2008 and only paid 120k. So only lost some money but I made it up in tax benefits.

        People really don’t understand the economics of landlords. They think it’s all money in the pocket. It’s not. It’s a very thin profit margin with most the benefit being taxes.