Society/Culture Landlords - What is the point?

[TheBigHorne]

Landlord demands 60% increase in rent from Brisbane tenant amid Queensland housing crisis

Tenants Queensland says the hike is far more than the average increase of 35% that renters seek advice over

www.theguardian.com

So this came up on The Guardian today...

Why are these people allowed to have the jobs they have?
What is the justification for being able to hike prices higher than inflation rates?
Why don't we have more public housing?

There are a lot more vacant houses than homeless people in Australia, so what's the point for all of this?

 

[owen87]

Landlord demands 60% increase in rent from Brisbane tenant amid Queensland housing crisis

Tenants Queensland says the hike is far more than the average increase of 35% that renters seek advice over

www.theguardian.com

So this came up on The Guardian today...

Why are these people allowed to have the jobs they have?
What is the justification for being able to hike prices higher than inflation rates?
Why don't we have more public housing?

There are a lot more vacant houses than homeless people in Australia, so what's the point for all of this?

I'm not really sure what you're asking?

What 'jobs' do landlords have?
The justification is a supply shortage and weak tenancy laws meaning nothing is stopping them doing it if they're so inclined. Yes it's shitty. You can contest unreasonable increases at VCAT in Victoria from memory, not sure about elsewhere.
Because Governments think short-term and have largely ignored building more, because most voters don't give a s**t about the homeless.

 

[Reynolds Number]

Landlord demands 60% increase in rent from Brisbane tenant amid Queensland housing crisis

Tenants Queensland says the hike is far more than the average increase of 35% that renters seek advice over

www.theguardian.com

So this came up on The Guardian today...

Why are these people allowed to have the jobs they have?
What is the justification for being able to hike prices higher than inflation rates?
Why don't we have more public housing?

There are a lot more vacant houses than homeless people in Australia, so what's the point for all of this?

To utilise those who need shelter as commodities to make a profit.

AirBnB contributes to the vacant housing. I never use them unless there's no other options.

 

[Nuggs Bunny]

Tenancy didn't used to be this way and mostly you can blame Howard for it.

Pre-1990, capital growth was variable and slow, negative gearing wasn't a thing so if your property didn't make a rental return of 10% it was a poor investment. Most landlords rented out houses that already had a lot of equity in them, so were more sheltered from interest rate rises. The proportion of landlords in the overall market was lower and they were more likely to be older and richer because of the equity needed to make a good return.

Post-2000, 10% p.a. capital growth and negative gearing make rental returns redundant. Most investors prefer to borrow to the hilt to buy an investment property to make maximum use of leverage. The increase in popularity of things like rentvesting creates a new generation of landlord that's incredibly sensitive to interest rate rises. The increased proliferation in the market of "mum and dad" investors creates a false narrative that landlords are often just working class, ordinary people that deserve shelter from when their investment backfires.

 

[Fadge]

Pretty simple.

Supply and demand.

If you think you can get better value accommodation, move elsewhere.

Or buy your own house.

Managing investment properties is a business, not a charity.

 

[TheBigHorne]

Pretty simple.

Supply and demand.

If you think you can get better value accommodation, move elsewhere.

Or buy your own house.

Managing investment properties is a business, not a charity.

So we should just treat housing, a need for human life as some enrichment tool and allow price gouging? Also if people could buy or get better accommodation so easily, they would.

 

[FRUMPY]

To utilise those who need shelter as commodities to make a profit.

AirBnB contributes to the vacant housing. I never use them unless there's no other options.

so you have and do use them.....cool brag

 

[FRUMPY]

So we should just treat housing, a need for human life as some enrichment tool and allow price gouging? Also if people could buy or get better accommodation so easily, they would.

Government needs to step up, its not up to investors to solve the issue. They can and should be able to charge what they want, its their asset.

 

[owen87]

So we should just treat housing, a need for human life as some enrichment tool and allow price gouging? Also if people could buy or get better accommodation so easily, they would.

Government regulation effectively encourages housing as an investment class, so it would take some fairly big Government regulation overhauls and a drastic rethink over people's investment ethos' to fix it.

 

[TheBigHorne]

Government needs to step up, its not up to investors to solve the issue. They can and should be able to charge what they want, its their asset.

Agreed on the first part, but, just because something is legal doesn't mean it's moral.

 

[owen87]

Agreed on the first part, but, just because something is legal doesn't mean it's moral.

The minute someone owns a house, their sense of morality regarding costs of said property vanish pretty quickly.

 

[Reynolds Number]

so you have and do use them.....cool brag

Booked hotels through their websites for both my weekend regional stays this month.

 

[Evolved1]

Landlords provide a service that's in high demand, take on high risk due to variability in quality of tenants, the property market, and laws that protect shitty tenants, and have to service debt from their investment.

As others have said, landlords are operating an investment rather than charity.

As for the specific example in OP, it may be that the landlord wants them out. It's possible the landlord is looking to sell or he may want to find a better tenant that maintains the property and pays on time.

 

[burge13]

The answer to all four of these questions is that capitalism is an evil soul-sucking worldview, and landlords will be the first ones on the guillotine when the revolution begins.

Imagine the no hopers in this group. Instead of improving themselves they complain about the system. This revolution wont last long, as soon as it gets a bit hard they'll ask the government for a handout

 

[Evolved1]

Imagine the no hopers in this group. Instead of improving themselves they complain about the system. This revolution wont last long, as soon as it gets a bit hard they'll ask the government for a handout

They'll glue themselves to art. That'll learn 'em evil capitalists.

 

[Lethality]

We should normalise adults living with their parents. It's a win win compared to paying money to a stranger and real estate agencies.

Your parent gets a bit of help with the power bills, extra money, some company especially if they're a single parent, some help with certain tasks, etc

The adult child gets to save money to buy a house, better accommodation than what their first rental would be, perhaps a parent who finds some purpose doing the cooking and laundry while you're at work.

Everybody wins

 

[rye]

systematic failures to regulate the housing market in a manner that looks towards the future from both major parties and a class of voters who were happy to sell out their children's future so they could maximise their own wealth at the expense of social and economic equality in this country

politically it would be suicide to try change the system now after so heavily incentivising property as an asset

compare the growth in housing prices with the growth of wages in this country and the picture becomes incredibly clear

to a lesser extent air bnb and other such services also pushes houses out of the rental market altogether further inflating prices

 

[Seeds]

We should normalise adults living with their parents. It's a win win compared to paying money to a stranger and real estate agencies.

Your parent gets a bit of help with the power bills, extra money, some company especially if they're a single parent, some help with certain tasks, etc

The adult child gets to save money to buy a house, better accommodation than what their first rental would be, perhaps a parent who finds some purpose doing the cooking and laundry while you're at work.

Everybody wins

We should do the opposite. People should move out and become their own people at 18-21. It will dramatically improve their well being if they do. young people need to become their own people. Build their own path. Its key to finding meaning and contentment.

plus it will make it way easier to get a partner.

 

[spinynorman]

Echoing some of the posts here.

 

[kickazz]

Pretty simple.

Supply and demand.

If you think you can get better value accommodation, move elsewhere.

Or buy your own house.

Managing investment properties is a business, not a charity.

Mate it's a charity - on the receiving end from the taxpayer.

 

[Fadge]

Mate it's a charity - on the receiving end from the taxpayer.

Risk and reward, like most things in life...

 

[lloydbraun]

We should normalise adults living with their parents. It's a win win compared to paying money to a stranger and real estate agencies.

Your parent gets a bit of help with the power bills, extra money, some company especially if they're a single parent, some help with certain tasks, etc

The adult child gets to save money to buy a house, better accommodation than what their first rental would be, perhaps a parent who finds some purpose doing the cooking and laundry while you're at work.

Everybody wins

 

[morningbrown]

Quite simply, housing should be a right, not an investment. But here we are.

 

[Lethality]

We should do the opposite. People should move out and become their own people at 18-21. It will dramatically improve their well being if they do. young people need to become their own people. Build their own path. Its key to finding meaning and contentment.

plus it will make it way easier to get a partner.

You can be your own person while living with your parents. It just means your landlord is a relative and you keep money in the family. Renting is for suckers, or as a last resort

 

[Frank Grimes]

You can be your own person while living with your parents. It just means your landlord is a relative and you keep money in the family. Renting is for suckers, or as a last resort

I think everyone is different. Some people may become independent while living with their parents, but there is a risk of the person becoming a Kidult.

It can also be awkward taking a date back home in your mid-late 20's while living with your parents.

However, due to the expensive housing situation at the moment it is understandable (and becoming more common) for parents to have their children live with them while saving a deposit for a house.