this post was submitted on 07 Aug 2024
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A Boring Dystopia
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I have a real problem with landlords. It feels like an especially predatory business. Some things just shouldn't be for profit. I mean, when you own something that people universally need, and charge as much as you possibly can for it, to maximize your own profit, for nothing other than just being the owner, it feels really scummy.
I own my home. I may rent it out when I retire because I sure as fuck won't have any money. Maybe we'll get an RV or move to the Philippines. Dunno. But I need to get paid on that home.
For one, renters are likely to fuck shit up, because it's not theirs, they have no stake in the property. They may simply be ignorant and ignore problems that cost $100 to fix today, $1,000 to fix tomorrow. Also, I need to buy extra liability insurance.
Then there's routine stuff. When my ex and I bought the place we took payday loans for 2-months just to get the tools and stuff we needed to care for the place. And nearly everything we bought was used. Paid them off responsibly and quickly, but it was costly.
Ever priced a new roof? Hell, within the last 30-days our sink stopped up, the washer died, fridge finally died. and that's only the big stuff. Even buying off FB, that was $1,000 in new appliances and repairs. Oh, and the hot water heater leaks, but that's under control for the moment. And the roof needs patched. I'm scared to even price that, can't afford it ATM anyway.
So yeah, I need serious "profit" just to break even.
EDIT: Do you idiots think I'm currently renting this home? FFS, try reading from the beginning.
If you plan on moving out anyways, why not just sell the house? It'd give you a large up front sum of money, and you would never have to worry about maintenance or bad tenants again.
Fair question! Two reasons:
I'm not the picture of fiscal responsibility. Be much more comfortable with a predictable income, especially since I'll be too old to work.
Selling the house would be a last resort for two reasons. My wife is foreign and would be lost without me. I want to know she will always have a roof to sleep under, no matter what. Two, I really want to be able to leave it to my children, give them a jump in life when we're both gone.