Ethel mermania wrote:Nobel Hobos 2 wrote:Insofar as all those are even done (taking out the trash? really?) they all have a market value measured by what the landlord can employ someone else to do. Which quite often the landlord does.
Then there is profit on top. You're saying the landlord earns the profit, by the "work" of employing contractors to repair, etc.
Back in the real world: if the landlord couldn't make a profit by receiving rent and subtracting costs, they would sell the property.
It's a classic case of "returns on capital", exactly what you're scoffing at, and if it wasn't profitable they would sell. Unicorn your way out of that.
In this country, Most small landlords, especially those buildings with 6 units or less do that work themselves
Fine, they do the work themselves. Plumbing, electrical it's all good. Tenants can't sue when they're dead, right?
Since economics seems fo be a weak point. Rent is what the tenant pays for those services, we call that income. The landlord either pays someone to do it or does it themselves. Those are called "expenses", which do not go away based on whether there is income pays or not.
Since economics is my weak point, you think you can just lie to me? Rent is what the tenant pays for the services AND for use of the accommodation AND profit for the landlord. Do you seriously expect me to be believe that landlords do a straight deal on their personal services and are allowing the tenant to use the building for nothing?
If no one pays rent a rental building has no value and is not sellable as such.
For now.
All those expenses still have to be paid. If the landlord cant make money those buildings do not get repaired,
For now. And over time that is going to suck for the tenants. But for now, I imagine they're pretty happy with some lights not working, having to take out their own garbage, etc, in exchange for not paying rent.
they become abandoned
They only become abandoned when the landlord evicts the tenants. You don't think tenants are going to move out of a place they previously paid rent for, because now they can live there for no rent? That's crazy shit you invented to get to your conclusion of urban decay. Landlords are taking it on the chin, I admit, but landlords by definition have assets. If loss of part share in their asset is the price they have to pay, for the government-inflicted recession we're in, then tough luck for them. Others are suffering more.
The black and white image of urban decay was a nice touch Ethel, but the crippled argument leading up to it rendered it rather ineffective.