Hi Chapos throwaway for obvious reasons.

I’ve managed to buy an apartment, two bedrooms. I live in it, but I rent the other room out. Is it unethical for me to hide that I’m the owner?

I don’t really lie-lie, like if I’m asked straight up I’ll answer, but I’ll avoid it if possible.

It’s mostly because it creates an odd power dynamic and I’d rather have a flatmate than a tenant if that makes sense.

Reason I bought is I don’t want to deal with landlords, obviously.

Do I get the wall?

  • LanyrdSkynrd [comrade/them, any]
    ·
    3 months ago

    I think there's a way to be this kind of micro landlord in an ethical way, but it's really tricky. Rent tied to expenses with a small amount of pay to you for the actual time spent managing it, and money into an repair/emergency fund. You should also consider the equity gained if it's financed. I've known landlords that say, "I'm barely making any money", ignoring the fact that they'll own the property outright at the end of the mortgage.

    The fact that it makes you more comfortable to hide the fact that you are the landlord makes me think the arrangement you're considering isn't fair. We're living under capitalism, so do what you gotta do, but if you're going to exploit someone have the decency to not act like you're in it together with them.

    • GuiltyConscience [he/him]
      ·
      3 months ago

      You should also consider the equity gained if it's financed. I've known landlords that say, "I'm barely making any money", ignoring the fact that they'll own the property outright at the end of the mortgage.

      Yeah this is valid. At current interest rates, and assuming average capital growth, and accounting for the benefit of my own room, I’m pretty much breaking even, just doing napkin math and not accounting for tax. (If interest rates drop then I’ll be sitting prettier.)

      The way I see it is, I’m doing this so I don’t have to deal with landlords. I’m not able to live rent free, nor can I share that. But I can share the experience of being landlord free. (Sort of.)