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Don't hate the game, hate the players.
(lemmy.ca)
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this post was submitted on 09 Jul 2024
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I was a landlord for a while, only one rental property, but I refused to raise the rent along with market increases because the existing rent was sufficient to cover my property expenses. There was no financial need to raise the rent, except for personal gain, so instead I choose to show gratitude for what I already had and passed on the benefits to the tenant.
I think that's how it should be and probably used to be. A lot of landlords with very few rentals.
Nowadays, we have literal company optimizing everything to get the most out of their investment. If they can increase, they will.
A landlord that does this as a side business won't necessarily increase the rent because he will prefer to have a good relationship because he does not want to spend all his time searching for new tenants.
I feel like even a big company should want to have a good relationship with its tenants. If you lose just one month's rent, you're out over 8% of your annual revenue and you're lucky if that's even your profit margin in the first place.
That's why they're so quick to evict. If they keep everyone squeezed for housing, then resistive tennants can be replaced quickly, and prices can inch up even more.
In a working market, there would be a lower cost alternative, but if all options are high-cost then the only real alternative left is homelessness, which is already illegal and being persecuted more and more.