741
Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)
submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml
430 comments fedilink hide all child comments

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

you are viewing a single comment's thread
view the rest of the comments
[-] Olgratin_Magmatoe@startrek.website 1 points 1 year ago

but property ownership still comes with a level of long-term required investment that many people simply do not want and cannot afford.

That's largely due to the lack of supply of housing. And that's why I think the government should be absolutely spamming housing units. Even if we kept landlords, they'd have no leverage to keep rents sky high.

People like me need to rent, and thus we need to rent from somebody.

And I think that your choice for that somebody should be better than some rich fuck who owns half the city's housing (mildly exaggerating).

you’ve got the existence of an intermediate owner that performs maintenance and searches for tenants, with the bonus and curse that that intermediate has no profit motive to actually perform that work.

The person who does that work doesn't need to be the owner though.

[-] BraveSirZaphod@kbin.social 2 points 1 year ago

You know, so long as we can agree that lack of supply is the core issue, the rest of all that is really just details haha. I'm not hugely confident of public housing's track record in the US (though there's obviously a lot that went into that), but whether it's new public housing or just loosening zoning and allowing the market to actually meet demand, I don't really care so long as there are units.

[-] Olgratin_Magmatoe@startrek.website 1 points 1 year ago

You know, so long as we can agree that lack of supply is the core issue

It's one of the core issues. I think there is a lot more baked into this, but if this is one of the things we can agree on then so be it.

I’m not hugely confident of public housing

While I do think public housing is a part of the solution, and has a lot of mistakes to learn from, I think co-ops should be the main workhorse/end goal for government built housing.

public housing or just loosening zoning and allowing the market to actually meet demand, I don’t really care so long as there are units.

I say, all of the above. Any possible way to increase the supply is a good thing.

this post was submitted on 24 Aug 2023
741 points (88.5% liked)

Personal Finance

3778 readers
1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago
MODERATORS
WandererLagomorph799@lemmy.ml
nieceandtows@programming.dev
nieceandtows@lemmy.ml