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by bdowling 737 days ago
> that they own 100%

You might be surprised to learn that many small rental properties are heavily mortgaged. Along with insurance and property taxes, the biggest cost is usually mortgage interest. Some owners even lose money for a few years until the rents rise to meet the costs so that they can break even. (These owners are playing the long game, believing that rent and property values will go up over time and eventually their investment will be a good one compared to their other investment options.)
1 comments
carlosjobim 737 days ago
I'm very aware of that, which just makes it worse. You now have multiple levels of strangers that are living on your back. Landlord, banker, insurance seller.

> the biggest cost is usually mortgage interest.

The tenant is paying for that.

The situation is absurd. The tenant is paying the entire mortgage and interest for the property and can be kicked out at any time, while the landlord does basically nothing, pays nothing, and the bank can not kick him out just because they please.

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