11–20 of 37 posts
Hope they ban investment properties for residential addresses. Investment properties should really only be for business buildings.
Does someone who rents two houses count as "investment properties"? How about someone who owns a complex with 50 units? How about a corporation that owns a complex with 500 units?
Hope they ban investment properties for residential addresses. Investment properties should really only be for business buildings.
What definition of "investment properties" are you using? Does someone who rents two houses count as "investment properties"? How about someone who owns a complex with 50 units? How about a corporation that owns a complex with 500 units?
What I mean, is that laws are useless if there is no means to for them to be seriously enforced, which is the case where I live.
On the other hand, if I were to create my own Airbnb website in that same country, I'd be shut down by the end of the week and put in jail facilitating illegal renting listings, while Airbnb executives risk absolutely nothing since they live in USA.
Earlier quoted context omitted.
What definition of "investment properties" are you using? Does someone who rents two houses count as "investment properties"? How about someone who owns a complex with 50 units? How about a corporation that owns a complex with 500 units?
I thought the definition was fairly clear and agreed upon?
Of course, my examples are intended to show that there is no "clear and agreed upon" definition.
Hope they ban investment properties for residential addresses. Investment properties should really only be for business buildings.
What definition of "investment properties" are you using? Does someone who rents two houses count as "investment properties"? How about someone who owns a complex with 50 units? How about a corporation that owns a complex with 500 units?
1) Occupied at least a certain portion (let's say 10%) of the year
2) Occupied by the owner at least twice as often as occupied by non-owners
Can be considered a personal residence in my book. Anything not meeting this is an investment property.
Earlier quoted context omitted.
What definition of "investment properties" are you using? Does someone who rents two houses count as "investment properties"? How about someone who owns a complex with 50 units? How about a corporation that owns a complex with 500 units?
A residence which is both: 1) Occupied at least a certain portion (let's say 10%) of the year 2) Occupied by the owner at least twice as often as occupied by non-owners Can be considered a personal residence in my book. Anything not meeting this is an investment property.
Consider a friend of mine who owns two houses. If he lives in one, the other will be "investment property" if he rents it a significant fraction of the year and thus banned. He can't move back and forth to avoid that because there are only 12 months in the year and it takes at least 8 months (per house) to satisfy the "twice as often" requirement.
The only way out is for him to leave the second house vacant the vast majority of the year. That pretty much defeats the purpose of owning a rental and it means that someone who'd want to rent is out of luck.
Earlier quoted context omitted.
A residence which is both: 1) Occupied at least a certain portion (let's say 10%) of the year 2) Occupied by the owner at least twice as often as occupied by non-owners Can be considered a personal residence in my book. Anything not meeting this is an investment property.
Under that definition, almost all rental residences in the US are investment property, and thus would be banned under the proposal. Consider a friend of mine who owns two houses. If he lives in one, the other will be "investment property" if he rents it a significant fraction of the year and thus banned. He can't move back and forth to avoid that because there are only 12 months in the year and it takes at least 8 mo…
Owning property for the purpose of renting it has serious negative effects on communities and society. Communities thrive when people live in them and value them, not when random people come for a few days, abuse the commons, and leave for somewhere else. If not banned, I'm all in favor of heavy regulation and taxation of investment properties, with a maximum number allocated as a percentage of the available housing. If renting becomes unpopular, people will actually have to sell and free up inventory, dropping prices.
Earlier quoted context omitted.
Under that definition, almost all rental residences in the US are investment property, and thus would be banned under the proposal. Consider a friend of mine who owns two houses. If he lives in one, the other will be "investment property" if he rents it a significant fraction of the year and thus banned. He can't move back and forth to avoid that because there are only 12 months in the year and it takes at least 8 mo…
What is a rental property if not an investment property? You are renting with the explicit goal of getting more returns (rent/equity/appreciation) than your costs. Owning property for the purpose of renting it has serious negative effects on communities and society. Communities thrive when people live in them and value them, not when random people come for a few days, abuse the commons, and leave for somewhere else.…
That said, I see renting as a good option for many people.
For example, I didn't have the money to buy after college so I rented.
Even if I could have bought, I probably wouldn't have because I was reasonably sure that I wanted to move in a year or two.
If there weren't rentals, what should I have done?
Earlier quoted context omitted.
What is a rental property if not an investment property? You are renting with the explicit goal of getting more returns (rent/equity/appreciation) than your costs. Owning property for the purpose of renting it has serious negative effects on communities and society. Communities thrive when people live in them and value them, not when random people come for a few days, abuse the commons, and leave for somewhere else.…
I appreciate that you're honest about wanting to ban renting residences. That said, I see renting as a good option for many people. For example, I didn't have the money to buy after college so I rented. Even if I could have bought, I probably wouldn't have because I was reasonably sure that I wanted to move in a year or two. If there weren't rentals, what should I have done?
That's not what's happening with AirBnB. That's turning the limiter supply of ownable property (condos and houses) into short term rentals for the owner's profit at the community's expense.
Also, I never said that outright banning is the proper option. Heavy taxation on strictly limited rental options (liter to a level where the community is still able to thrive) is also reasonable.
Earlier quoted context omitted.
I appreciate that you're honest about wanting to ban renting residences. That said, I see renting as a good option for many people. For example, I didn't have the money to buy after college so I rented. Even if I could have bought, I probably wouldn't have because I was reasonably sure that I wanted to move in a year or two. If there weren't rentals, what should I have done?
Apartments are perfectly fine and should be encouraged, as they're dense and serve an important purpose. That's not what's happening with AirBnB. That's turning the limiter supply of ownable property (condos and houses) into short term rentals for the owner's profit at the community's expense. Also, I never said that outright banning is the proper option. Heavy taxation on strictly limited rental options (liter to a…