Personal Finance

3828 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

654

Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)

submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

185 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] Manmoth@lemmy.ml 0 points 1 year ago* (last edited 1 year ago) (1 children)

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.

[–] Olgratin_Magmatoe@startrek.website 2 points 1 year ago (1 children)

You getting exploited for free labor by your landlord grandparents only further proves my point that landlords don't actually do any work.

[–] Manmoth@lemmy.ml 1 points 1 year ago (1 children)

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.

[–] Olgratin_Magmatoe@startrek.website 1 points 1 year ago

You've missed my point.