As a homeowner who’s mortgage goes up every year thanks to insurance and taxes. I’ve started to understand why rent always goes up.
Where do you live that any of that is legal? The USA?
As a USian, my experience with the rental market was “move every 12-18 months to get the Teaser Rate for your unit, receive a notice from your landlord that the price of the unit is going up hundreds (if not thousands) of dollars, pick up and move to a new unit”. I once moved across the hall because the unit next door from me was being advertised at $200 less than the place I was staying. I only started looking because my smaller unit was getting a $300 rental increase. So, net $500, because landlords are insane. US Rental markets are an absolute clown parade.
I think people should take some responsibility and choose to be born earlier next time. If somebody buys a house before you do, we’ll… That’s on you.
So long as they’re paid I don’t think they care. If everyone came together to refuse paying rent then that would get the message across.
This is mistaken. They don’t ask why tenets hate them. They don’t care. Tenents are just part of business, so they aren’t people in that case.
That said, I do know some human landlords, they do exist. They aren’t bad people. And they do care about the quality of repairs and such.
It’s a terrible incentive structure. Tenants have no motivation to repair the place they aren’t going to live in a year from now and landlords only have to put a bandaid on any problem until a tenant falls for it.
Either a tenant plans to be at a place long enough to invest their time/money or the landlord has to be selfless and repair the house cause it’s the right thing to do.
Capitalism in a nutshell.
There was a local law coming up that essentially said that landlords would be required to fix properties within a 3 month period (I think) or the county would seize the property and auction it to the public, then whoever buys it would have the same amount of time or same thing. I could see it being abused somehow but it sounded good on paper.
It’s the price fixing. If the market was the way it used to be, you could afford rent.
Refusing repairs is a dick move, but raising rent can be a consequence of rapidly rising property taxes and increasing insurance premiums. Would be nice if renters got an actual itemized invoice showing what goes into the rent cost.
Itemized invoice would be killer! There’d have to be an item called “pure profit”, shining some light on their greed.
Property taxes and insurance premiums on what is mostly passive income. No invoice needed. For most of us, rent is the majority of our paychecks, which are earned by working.
So you’re saying that landlords are keeping prices down out of the goodness of their hearts, and it’s external costs causing the increase?
That’s very anti capitalism. You’re supposed to charge as high as you can at all times, regardless of costs.
My region has legal language called the Landlord and Tenant Act, which prohibits the landlord from raising the rent by more than 2% per year. When one vacates, the new tenant of course will have their rent start at ‘market rate’, but at least while living there one’s rent is protected. As well, if reno-victed, the tenant must be given similar space for similar rent once renos are complete.
This falls down a bit, as transgressors get to go against an adjudication panel, and that sometimes goes all-in for the landlords. But mostly it keeps the dickishness down.
I am very lucky to have gotten a cheap apartment by town, and it gets cheaper by comparison way faster than it gets rent increases. The market average is about £400 higher now
