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A comment on Rate The Landlord: Anonymously share information with tenants like you. Parent comment

Re:Rate The Landlord: Anonymously share information with ten... by AndrewKemendo on Sunday April 30, 2023 @06:06PM (#35767024)
You realize all those costs are baked into the rent right? Even with cost distribution among multiple properties or multi-family complex, the per-service fees often exceed what you would pay a tradesman and the lack of flexiblity drives certain costs up in renting situations like limitations on modifications.

In my experience (Owned 3 homes, rented 4 homes) it’s net-net between renting and owning across multiple factors including overall cost, and think I’m near the mean when it comes to handiwork - so it’s not like I’m doing all my electrical and HVAC myself and I’m in an expensive area.

[ Parent | on HN ]
Re:Rate The Landlord: Anonymously share information with ten... by Aloha on Monday May 01, 2023 @08:29AM (#35771871)
Thats kinda my point..

Yes, all of the costs are just baked into rent. They're not baked into a Mortgage, and people dont get that so they end up buying as much house as their rent was, and then get over their skis when they suddenly need to cough up 15k for a new roof?

If you're in the position where even paying the rent consistently is a marginally difficult problem, even if lending standards are relaxed sufficiently, how is this person going to pay for a new roof unless the price of that loan is subsidized to the point that it either has a zero or negative interest rate?

Not everyone can buy - either because of the work required, or because of the financial outlays needed. Also to be honest, not everyone wants that responsibility.

[ Parent | on HN ]