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Really sick of people bashing landlords

Answered 3 years ago

This is more of a vent than a question. Why is everyone bagging 'greedy landlords' for putting up ren't? I know not all landlords are good but neither are all tenants. Most landlords are average mums and dads trying to get a nest egg for their or their kids future. At the end of the day, it IS about them making money. No different to investing in shares or a business or Bitcoin or any other investment - anyone investing in anything is hoping to make money. I have an investment property. The rent has stayed the same since we bought it 4 years ago. Many other costs have gone up. Our tenant now doesn't want to sign a new lease because he doesn't know what he's doing (buying or building himself). We are putting his ren't up $20 a week and we could get even more if we got a whole new tenant in. The house still costs us more than we get from ren't and is worth less than we owe. However, this is a long term investment and down the track we will subdivide and that's how we will make some money. Our kids are in their mid teens so down the track its somewhere they could possibly live. I do genuinely feel for people struggling to find housing, but i think it's on the government to figure out this rental crisis, not for investor's to become a charity. It's all about the basic supply and demand. A few years ago it was taking months for houses to rent and prices were dropping. It's all swings and roundabouts.


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ANSWER
3 years ago
Good on you for planning for your future & not draining the system.

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REPLY
3 years ago
How are they not draining the system? Where do you think the money comes from for negative gearing? Do the magical money fairy's drop it in their bank accounts. It comes from the government who took it from your taxes. So essentially you are helping paying for their investment property.

REPLY
3 years ago
We pay well over $100k in tax every year, so if we can can get a bit back through negative gearing i am not going to feel guilty about it! We have friends that earn $300k per year, own a business, claim everything on that, pay not even $20k a year tax, get their 'incone' so low with deductions that they can claim all sorts of government benefits both personally and for their business. They own several 4x4s, a boat a caravan, motorbikes, large property that they are building on and got government grants for due to 'creative accounting'. They are taking a hell of a lot more of your tax dollars than we are with negatively gearing 1 investment property. You really dont get a lot from negatively gearing, maybe we should clamp down on the people wroughting the system, than those paying plenty of tax already and trying to pay their own way both now and in old age. Our qccountant has actually told us, that having an investment property isnt going to do anything to reduce the tax we pay. We have it, hoping it will go up in value and we can make money out of it in 10-15 years when we sell, after we then pay capital gains tax! - which cancels out any negative gearing benifits!

ANSWER
3 years ago
No offense, but everyone is biased, if you own are home as an investment property then you are biased, to think that this is to make a good return. So when it doesn"t you complain, you get negative gearing and subdivide to lower the quality because your intention is one way. To me you are complaining..fancy saying you are comparing yourself to a charity when you yourself are saying this is long term and how your want to make money.

Home investers also complain loudly when their vaule goes down UNLIKE bitcoin or other investers.. you expect government bailout. What someone pays in rent is irrelevant to your investment, you are looking for property value and increase..except when it doesn't. If you signed into something that isn't making the return you want, who's problem is it seriously?

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REPLY
3 years ago
I have never complained. All investments go up and down. Just need to buy in the right areas, be willing to wait and sell at the right time. Overall you will make money long term. And people do complain when the stock market crashes and companies expect the government to bail them out. If you can't afford an investment property and weather the ups and downs then dont buy one. Don't know how much you know about negatively gearing but you don't make a heap of money because of it. You are still generally better off to be positively geared, but it depends on your situation, plans and goals. We have bought a new house and moving. We are renting our current home, in the hope that property prices will continue to go up and we can make more money by selling it in a year or 2 and putting that money into our new home (renos and mortgage). We own it outright so it will be positively geared. Our investment property is negatively geared and we plan on having that for another 10 years and subdividing or selling to a developer or having it as a first home for our kids. It is all about making money for our/our kids futures. We are not a charity. We want to make money.

REPLY
3 years ago
This reply that starts with "no offense" is absolute rubbish!!!
What does shitcoin have to do with it??
Sounds like a 'bot' response to me.

To the OP- 100%. I get it. I'm not a landlord investor. Plenty of landlords aren't trying to get rich and many are just trying to cover costs. I get it.
You shouldn't be penalised for putting money into shelter instead of shares.

REPLY
3 years ago
A bot?! Ha ha ha. If someone disagrees with someone it must be a bot. Very intelligent.

REPLY
3 years ago
I think it is important to listen to other opinions and note the bias. Bitcoin was brought up by the op, and thrown in as a backup to an argument which it really so different to property investing. but some, or most, just do not read the responses they want to hea. There is a lot wrong with the arguments or venting.. and i get they are frustrated, just not clearly at who. Seems tenant, government, and the people saying greedy .. negative gearing is a government bailout..what other type of investment has this? Also look into the tulip boom, and this is how many see the property boom, it makes little sense that property should go upas it is, due to demand, the real issue is a lack of regulation. So, really if you invest in an industry that has no regulation, ie no real rules for house maintenance, pricing guide, if your investment then goes down, please don't complain or say that your property was vacant ..and how much it costs to maintain etc. You don't see this as you are protected so much by the governemnt to prop up your market, if housing collaspsed so would most of you with your "investmentsl, so banks, and government are desperately keeping it running. It works that you don't realise how much.

REPLY
3 years ago
Definitely agree with you. I feel this deserves a round of applause 👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏

ANSWER
3 years ago
I agree expecially the last part
It’s funny how it’s suddenly unfair when the market dips in favour of the “other side” but no one gives a shit of the periods they go un rented.

If you don’t want to rent buy your own damn property.
If you want to use someone else’s property you’ve got to pay for it.
I never had this entitlement when I was a renter. I always understand I was using someone else’s property. I was not entitled to their property it was a contract between them and I.