• Semi-Hemi-Lemmygod@lemmy.worldEnglish
    1·
    3 months ago

    Good ol’ vinyl wood-lookalike planks. Cheap to buy, cheap to install, easy to repair without tearing up the whole floor, glues right down to the beautiful hardwood underneath.

    No wonder landlords love them

  • tquid@sh.itjust.worksEnglish
    1·
    3 months ago

    This is my exact fucking floor.

    I have a heat pump and my landlord isn’t a psycho though, so the only way I’m moving is via the coroner’s van

  • FMT99@lemmy.worldEnglish
    01·
    3 months ago

    Now I don’t know Canadian taxes but just out of interest I investigated once what would happen if I rented out my house (it’s still newly under mortgage so I can’t but just to see what would happen.) I see some of my neighbors rent out theirs from for about this amount, 2500 euros.

    After taxes in my part of the world I would retain just under 18000 euros in profit per year, which is a return on investment (~500k) of about 3.5% And this is not counting any repairs or maintenance the house will invariably need.

    It’s a crazy amount of rent for the renter but it’s at best a poor return on investment for me, and if I’m a good landlord that actively maintains the place even worse. Sticking the money into even a so-so savings account will give a better return without any headache.

    Having rented for most of my life (until very recently) I feel your pain but the real problem is the insane cost of real estate.

    • AwkwardLookMonkeyPuppet@lemmy.worldEnglish
      1·
      3 months ago

      You can absolutely rent your house out while it’s still under mortgage, most rentals are not paid off. The profit starts coming in later. 10 years from now your mortgage will be the same, but rent will be $1000 more per month. Plus you’re getting someone else to pay off a major asset for you.

    • itslilith@lemmy.blahaj.zoneEnglish
      1·
      3 months ago

      But if you do that for as long as your mortgage lasts, at the end you have a house worth $500k, probably way more, you haven’t paid a single dollar of your own money towards that mortgage and still got $18k of profit per year.

      To put that money in a savings account you would need to have liquid $500k to begin with. With a mortgage, you borrow money and then rely on somebody else to pay it back

      Of course that tips ever more in your favor the more money you have to begin with. While I think anyone being landlord is unethical, by far the biggest problem are real estate investors that buy 100s or 1000s of homes