“Property management” is what a landlord does in a functioning housing market (I.e. one where the price of housing is holding steady, so a landlord can’t make money just renting while the land value goes up on its own). It’s what makes renting preferable to owning in a functional market - you pay extra for convenience and flexibility.
What you’re saying is that most landlords don’t do their job. Which is correct, and also why everyone hates them.
They do repairs on time (which can be quite costly), takes care of most HOA stuff (and fees), pay quite a lot of taxes (depending on where you live, of course).
Personally I inherited part of my grandmother home (the other part being owned by my father). When she died, I redid most of the isolation, electrical and paints, costing me 75k, and had to do paint again (10k) after the first tenant (they ruined it, it went from white to dark yellow due to how much they smoked).
We had some water damage, which was caused by the town (they refused to pay for the damages, invoking a impossible to follow law), and another one (caused by the neighbor, which refuses to do the repairs), which is still pending (we reduced the rent due to that).
Add to that the taxes, which basically reduce our “earning” by 40% where I live, 6 years after my grandmother passing I just started to see any income from the property.
So yeah, there are bastards amongs us, but abput as much as in any group of people. That’s not homeowning that make the bastard, they’d be bastard, home or not.
I think there’s a difference between like a landlord and a property management company.
Property management that fixes stuff, cleans up common areas, and such adds value. They do labor that’s useful.
A landlord that just gets money because they legally own the place is not adding value. That’s what most people hate.
You can, of course, have horrible people assigned to manage the property.
“Property management” is what a landlord does in a functioning housing market (I.e. one where the price of housing is holding steady, so a landlord can’t make money just renting while the land value goes up on its own). It’s what makes renting preferable to owning in a functional market - you pay extra for convenience and flexibility.
What you’re saying is that most landlords don’t do their job. Which is correct, and also why everyone hates them.
Sounds like Satyrn to me. Six one way, Hexagon to the peak.
A good landlord do add value.
They do repairs on time (which can be quite costly), takes care of most HOA stuff (and fees), pay quite a lot of taxes (depending on where you live, of course).
Personally I inherited part of my grandmother home (the other part being owned by my father). When she died, I redid most of the isolation, electrical and paints, costing me 75k, and had to do paint again (10k) after the first tenant (they ruined it, it went from white to dark yellow due to how much they smoked).
We had some water damage, which was caused by the town (they refused to pay for the damages, invoking a impossible to follow law), and another one (caused by the neighbor, which refuses to do the repairs), which is still pending (we reduced the rent due to that).
Add to that the taxes, which basically reduce our “earning” by 40% where I live, 6 years after my grandmother passing I just started to see any income from the property.
So yeah, there are bastards amongs us, but abput as much as in any group of people. That’s not homeowning that make the bastard, they’d be bastard, home or not.