Yeah it's not mom and pop that just bought my apartment complex and increased rent 120 dollars while also saying we gotta pay the water bill now (another effective rent increase)
That's why I specified single family homes. BlackRock and other large institutions have dominated multi-family properties for a long time. It only became a media story when they got into single family rentals. It became a story because the local petty capitalists were upset they had bigger competition, plus some higher end PMC who are getting priced out of single family homes.
Also something broke a while ago, smaller landlords started demanding the rent pay the mortgage and bills. Previously, they'd eat a bit and rent under mortgage because they get equity out of it and eventually in 40 years rent is just pure passive profit. Now we gotta pay their mortgages and a lil profit and they don't service or maintain.
I swear it's cause everyone got leveraged to the tits and they can't handle even a couple hundred bucks a month.
Yeah it's not mom and pop that just bought my apartment complex and increased rent 120 dollars while also saying we gotta pay the water bill now (another effective rent increase)
That's why I specified single family homes. BlackRock and other large institutions have dominated multi-family properties for a long time. It only became a media story when they got into single family rentals. It became a story because the local petty capitalists were upset they had bigger competition, plus some higher end PMC who are getting priced out of single family homes.
Also something broke a while ago, smaller landlords started demanding the rent pay the mortgage and bills. Previously, they'd eat a bit and rent under mortgage because they get equity out of it and eventually in 40 years rent is just pure passive profit. Now we gotta pay their mortgages and a lil profit and they don't service or maintain.
I swear it's cause everyone got leveraged to the tits and they can't handle even a couple hundred bucks a month.