| ▲ | saalweachter 6 hours ago | |
I've dealt with two kinds of landlords. The good one(s) acted like their job was providing the service of housing. They had a budget and paid themselves a salary, and if there was money left in the repair budget at the end of the year they used it for improvements to the properties. The bad ones treated it as an investment. My rent money went into their own pocket, and any expenses -- repairs, taxes, mortgage payments -- had to come out of their own pockets, and they did their best to not pay for any of them. | ||
| ▲ | nerdralph 20 minutes ago | parent [-] | |
My wife and I have a few rental properties that I manage. They are investments, chosen based on return on investment and equity (ROI/ROE). Maintenance costs were factored into those calculations. We take care of repairs not because our job is "providing the service of housing", but because we are honest and would not sign a lease (or any contract) in bad faith. When the lease says the property includes appliances, then we ensure broken appliances are fixed or replaced promptly. If/when we can't make a reasonable ROE on a rental property, we don't cut corners to squeeze a bit more profit out of it, we sell it and invest the money elsewhere. | ||