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by fr11
2041 days ago
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Landlords provide benefits: renting a property means getting somewhere to live without being responsible for major systems if they break. Just because some landlords don't do a great job of maintenance doesn't change the fact that they are legally required to perform a minimum. In addition, property purchase is legally complex, time-consuming, and risky. If you cannot find someone to purchase the home that you purchased, you can't really get rid of it. Renting thus provides optionality - the choice to walk away. The landlord takes on the risk of not being able to find a renter and having to cover the mortgage and property tax costs for a space they're not using. If you think that'll never happen, take a look at Detroit. This is not to say that landlords are perfect, or that having them is better than the costs of them. But when you are going around making, in my opinion overly simplistic arguments, you weaken the strength of the underlying case. It makes it hard to take other things you say seriously. |
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