this post was submitted on 21 Jun 2024
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Question: my landlord ethically renovated and rented out a historical building. There are a lot of nuances with the upkeep that none of the tenants would necessarily be qualified to handle on their own. The landlord has educated themselves on the historical and legal needs of the building, sourced period accurate replacement parts for repairs, renovated and continually upkeeps an antique elevator, organizes cleanings and inspections for our antique windows, and a whole lot more. At times that tenants have experienced financial hardship (pandemic), they have even adjusted rent to match financial ability.
How is that not a job?
No doubt that some (maybe even most) landlords out there exploit their position to get money for nothing, but there are also those out there who are doing the job properly as a caretaker for the property.
The parts that are work are the job, but extracting rents for owning something is not work. I realise it's not a clean break, but the idea is landlords usually get a lot more value than they put in.
Whereas most of us work jobs that take more value from our labour than they'd ever actually pay us for.
In my opinion, the work and the liability are both part of the job. If something goes terribly wrong in this place, I am not on the hook for it. I can call them at any time to report a problem, and they are now going to be the ones to have to fix it—not me.
That is a benefit I get from renting that I wouldn’t have if I owned the place. Even cooperatives, which I have lived in several times before and that eliminate the existence of a traditional landlord, are not without the need to collect additional funds to offset the liability of major repairs in the future.
It seems like the primary difference with a landlord is that a salary gets calculated into that, and people often perceive that salary as too high.
Compensation regulation seems more reasonable than cursing all landlords, in my opinion. I think there is a realistic use for people who want to be a steward of homes for other people who aren’t ready for the responsibility of ownership.