Quote:
Originally Posted by TheIronMaiden
People who can't pay their mortgage without their rent income make some of the worst landlords. In my experience they are price gougers who constantly raise rent, unreasonable expectations for damage deposits and never fix anything when its broken.
I once rented from a millionaire and they were the best landlord I had. The price was low because they wanted me to stay, when something broke they would fix it right away, and when I moved out they took a little money for a minor thing and ignored the rest.
It's not entirely an investment problem so much as people enter it like its nothing but numbers. Yeah it's your house, but while I am renting this place is my home.
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You'd be shocked at how many renters don't treat it that way. It goes both ways. There's plenty of renters who don't enter the agreement in good faith.
The landlord takes all the financial risk, they need to be able to pay their mortgage, I don't even know why that's controversial.
Renters can abuse the system and completely take advantage of landlords as well. Check out this story in Toronto -- $41000 in unpaid rent and can't be evicted.
https://globalnews.ca/news/10688780/...nt-cant-evict/
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A few weeks after crashing head-first into the boards (denting his helmet and being unable to move for a little while) following a hit from behind by Bob Errey, the Calgary Flames player explains:
"I was like Christ, lying on my back, with my arms outstretched, crucified"
-- Frank Musil - Early January 1994
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