• spittingimage@lemmy.world
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    4 days ago

    My first landlord gave me a plank to hold the door shut so he didn’t have to repair the lock and another plank to put over the hole in the bathroom floor that you could fall through to the foundations.

    ‘Safe’ living.

  • altphoto@lemmy.today
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    5 days ago

    How much would you expect back if you gave someone a loan for $500,000.00 after 3 years, 5years, 10years?

    Calculations:

    After 3 years: 500,000×(1+0.0430⋅3)=500,000×1.129=564,500.
    After 5 years: 500,000×(1+0.0438⋅5)=500,000×1.219=609,500.
    After 10 years: 500,000×(1+0.0468⋅10)=500,000×1.468=734,000.

    Ok so 64,500/3/12=$1792.00 would be your fair monthly rent since the landlord would put that money away and expect a return for that investment.

    For 5 years it would be $3,042.

    For 10 years it would be $6500. Clearly a better investment.

    Except that when they get your rent they can put that money into the investment system again and get much more money overtime.

    First month say 1000 (super cheap tent on a cardboard box behind a Wendy’s).

    Second month 2040 assuming 4% per month.

    $41,000 after 3 years, $67,000 after 5 years, 170,000 after 10 years at 4.3% APR.

    If the rent was 3000, that would be $510,000 after 10 years. This is not a good investment if you paid $900,000 for that house. You want the return in 5 years so the rent would be $5708.00 per month.

    And that right there is why our rent is so expensive. We are basically ensuring the profit of a nice steady percentage to some investor. Now, if you didn’t ever invest in the house, your house would eventually become land. So you do want to pay to keep that thing looking good, but maybe not 4.3% per month?

    • DreamlandLividity@lemmy.world
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      4 days ago

      What in the world are you talking about? The rent only paying for the interest? You know buildings are not eternal, right? They depreciate in value. They have maintenance costs. And a hundred other things a good landlord should be taking care of.

      • altphoto@lemmy.today
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        4 days ago

        This is panda level… No, sun… No, koala! Bear minimum. Yeah, you start thinking about maintenance, depreciation, dog damage, robot attacks, invasion by aliens, heck… A pandemic! Now we’re talking serious money. Lol… Not lol.

    • SpaceCowboy@lemmy.ca
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      5 days ago

      Only when you’re selfish.

      Come to think of it, if being selfless is a burden to you then you aren’t really selfless.

  • Jankatarch@lemmy.world
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    5 days ago

    Do NOT be kind to your landlord.

    My landlord lost their house gambling so I offered them to rent one of my rooms at discount as a roommate.

    Now whenever my rent increases due to cost of living, I increase their rent due to cost of living.

    We are in a sick perpetual cycle and both our rents went up 5000% yesterday. We are comrades in this pain and promised to protect each other if liver selling operation goes wrong.

    It’s a hateful bond, an adversarial friendship, and a dying survival. Somebody please help!

    • Polisheocket@lemmy.zip
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      5 days ago

      New fridges are a joke anyway. Mine broke after 5 years. I have a garage fridge better then my new one

    • X@piefed.world
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      5 days ago

      Have you sincerely and cheerfully wished your multibillion dollar corporation landlord a happy and prosperous birthday, and have you gratefully and bravely remitted no less than three (3) months of your (useless to you) money?

      No?

      You’re what’s wrong with society.

    • db2@lemmy.world
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      5 days ago

      If that fridge is still happily running then be happy, they literally don’t make them like that anymore.

      • bloogoose@lemmy.zip
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        5 days ago

        It leaks water on the floor, causes my power bill to go up and grows mildew around the seals weekly…

        • db2@lemmy.world
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          5 days ago

          It’s low on refrigerant and effectively unfixable. Depending on where you’re at you can probably withhold rent by putting it in an escrow account until the landlord fixes the problems. You have to tell them by certified mail, and if appliances aren’t included in your rent agreement don’t do it because you’re already screwed. In that case get your own fridge and keep the receipt.

          • bloogoose@lemmy.zip
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            5 days ago

            Nah it’s Indiana. This state is arguably the most pro landlord state with very little tenant rights hence the old fridge among other issues that get bandaids instead of repairs/replacement.