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Comment by turtledove | Hacker News Reader

Landlords don't need to raise rent if their costs aren't rising.

Landlords don't need to raise prices. They want to. We all want to have more dollars than everyone else and landlords are no exception.

Disagree that this is a universal desire. We don't all want to have more money than everyone else. Plenty of us just want to have enough money to live modestly and comfortably.

You might, but most people do and creating policies/laws that they don't is naive and won't work.

Sure, don't disagree. The parent poster said all. I was simply pointing out that all is the wrong word.

> have enough money to live modestly and comfortably

That necessarily means having more money than everyone else. If you don't, the people who do can and probably will make things very uncomfortable for you.

Landlords who acquired property 20 years will use 'market rate' as a justification. I know of someone making a living from such a building consisting of 2 small apartments and a single office. He doesn't have a job, just idols away at home at all day getting anxious about climate change and identity politics.

landlords are definitely taking advantage of the situation, but that's a consequence of the bigger picture. In EU the constant influx of immigrants from 3rd world countries is creating demand and raising the prices while decreasing the salaries since they work for half the price and quality than locals but companies hire them regardless and they don't mind living 5 people in 2 bed flat. Moreover overseas oligarchs and cartels are buying out properties and raising the prices even more.

We should enforce this with the law. Right now, landlords raise rents anyway. I've never once heard of a landlord lowering the rent once they finish paying their mortgage, even though their expenses are now far lower.

Let me be the first then. I've been a landlord for a decade. I've paid back each and every one of my tenants the rent I collected in surplus to costs. Adjusted upwards to reflect the appreciation of the unit.

I now rent at cost, choosing to believe that it's better to help the people who live with me establish themselves and build financial safety.

> help the people who live with me

are you saying you and them live under the same roof? i.e. they're your roommates?

In some cases we have rented a mother in law unit. Are different apartments in the same building under the same roof?

I tend to be broader about community then many folks in the States. Imo, you live with the people in your local area, whether that's house, apartment building, or block.

That's certainly remarkable. You are indeed the first person I've ever heard to do this.

I was inspired by someone else who did it and posted about it on Reddit somewhere a long time ago. So there are at least two, but likely many more than two of us out there.

> I now rent at cost

Be very careful. If you are in the US, you might want to speak to a tax attorney.

The IRS treats property rented out at less than fair market value as a personal residence.

Your tenants may have to treat the difference as income, and you are not eligible for many of the usual deductions for investment property.

I have, but that's good advice.

Housing investment is a business. Buying the house is a risk, and you sink money and effort into it in the early phases, in the hope of getting profit out of it in the later phases.

If you are going to make that business unprofitable then no one will do it. People won't sign up for the risk, cost, effort and frustrations of being a landlord with no upside.

While we're on the topic, why not prevent programmers from putting their salary up? After all software is essential to society these days?

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