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A comment on Even the Rich Are Being Priced Out of Central London. Parent comment

Re:Even the Rich Are Being Priced Out of Central London by ddalex on Friday September 02, 2016 @05:17PM (#12416351)
They don't care. When you have billions in the personal bank accounts, the few tens of thousands you would collect per month from a luxury house in London means nothing.

It would be more of a nuisance - the tenants need registering, then you have to pay taxes, for what gain?

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Re:Even the Rich Are Being Priced Out of Central London by randyrand on Friday September 02, 2016 @05:24PM (#12416385)
A $5 million home rents for roughly $20k a month, or $240k a year.
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Re:Even the Rich Are Being Priced Out of Central London by ddalex on Friday September 02, 2016 @05:48PM (#12416524)
Probably the owner of said home makes more money than that in his/her sleep.
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Re:Even the Rich Are Being Priced Out of Central London by rahimnathwani on Saturday September 03, 2016 @05:04AM (#12418427)
Passive income on capital assets (e.g. letting out property) is exactly how they make that money.
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Re:Even the Rich Are Being Priced Out of Central London by GreaterFool on Friday September 02, 2016 @06:21PM (#12416687)
You hardly have to do anything. Various agencies will do everything for you. You'll never hear about your tenants.
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Re:Even the Rich Are Being Priced Out of Central London by pjlegato on Friday September 02, 2016 @06:35PM (#12416762)
The point is, why would they bother even with the minute hassle of vetting and hiring an agency just to make a few pennies every year as compared to their existing billions?

It's not even worth their time to do that much, apparently, since the houses in question are sitting empty in a high-rent area.

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