You are viewing a single comment's thread. View all
8
konoplya on scored.co
1 year ago8 points(+0/-0/+8Score on mirror)1 child
they provide housing for those that can't afford to buy a home and need a place to live. they also are legally bound to maintain the property if things fail. there are literal laws for that. most states' laws are heavily leaning on the renter's side as well. its very difficult to evict scumbag nigger renters that destroy property and stop paying rent.
its not often higher than the mortgage. if you were to get a mortgage right now for a 400k house at 6.5% rate 30 year fixed with 20% (80k) down you'd be around $2400/mo. the rent here is about 2k/mo for a 3bed/2bath in the same neighborhood. sometimes the rent is higher than the mortgage, sure, but people rent because they can't qualify for a mortgage and don't have 20% to put down. there's a trade off in everything.
Then why is rent often higher than a mortgage? Not saying I hate landlords on principle, but modern real estate is jewed to the max.