Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not.
Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not.
A city Independent Budget Office report examines vacancy data from the state’s housing agency amid concerns of "warehousing."
cross-posted from: https://lemmy.crimedad.work/post/12162
Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.
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You’ve just eliminated perhaps the safest, most attainable method for the average person to achieve passive income.
And? Should we be trying to help people earn income for doing dick all?
For doing dick all
Yeah because they just plucked the property off of a tree... people often work years and years to get enough for a property investment and it can take 30 years to pay it off. Throughout all that time they are responsible for maintenance, insurance and a litany of other things to keep it from falling into disrepair.
it can take 30 years to pay it off.
It can take 30 years for the tenants to pay it off. Landlords aren't paying for that out of the goodness of their hearts. It's instead ultimately the tenants.
Throughout all that time they are responsible for maintenance, insurance and a litany of other things to keep it from falling into disrepair.
They hire people to do that, they don't do it themselves.
They hire people to do that
This is why you don't get it. I spent my childhood cutting grass and repairing shit at a property owned by an elderly family member on a fixed income. We didn't have money to hire someone to do it and tons of people are in the same boat. We did it for free because it was the best thing for everyone involved including tenants who often stayed for years because it was a nice place to live. No one got rich off of that property believe me.
You getting exploited for free labor by your landlord grandparents only further proves my point that landlords don't actually do any work.
They managed it as long as they could. Have you ever had a family before? You're supposed to help each other. It's what people have done for all of time.
You've missed my point.
What do you think "passive" means in the term "passive income"? I don't care if it becomes harder to earn "passive income", especially if it's coming from people just doing what is necessary to survive.