Quote:
Originally Posted by Great68
And before the other guys come in with the "But but but, that'll cause people to pull units from the market". I personally don't think so. People want their rental income. When the rules around renovictions and compensation got more strict a few years ago, available market units never decreased. At all.
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I know what you're saying here, and while it may be true that available market units have not decreased when the rules tightened, let's not forget who the landlords are could very well have changed.
This is purely anecdotal evidence that I have seen myself, and I recognize that it may or may not be true across the board. But what I have been noticing is that the number or percentage of scumbag landlords -- or at least, shady landlords -- have increased as the rules got tighter. My personal theory is, as the rules got tightened, potential landlords that would have played by the rules figured that they weren't able to get the ROI that they expect, so they got out of the (landlordship) game. Meanwhile, you have other people with higher "risk tolerance" -- ie. more willing to do shady stuff to not play by the rules to take up landlording because there is still money to be had.
So of course the natural outcome from all this is -- a larger share of shady / scumbag landlords, and a residential rental climate that is worse off than before.
As an example of 1, I am one of those people who gave up the landlord gig because it was just too much of a PITA, and the ROI from renting my place out just wasn't worth it anymore.