There's Not Enough Money in the World To Make Me Become a Landlord Again
By LooeyVille
@LooeyVille (122)
United States
June 27, 2026 11:44am CST
Once, very briefly, I owned rental property. Just one house. I rented it out for one year and then sold it when the tenants' lease was up. They wanted to buy it but had bad credit. They were usually a few days late with the rent each month, but they paid the small penalty fee ($5 or $15 or something) and always paid. They didn't tear up my property and they didn't complain.
But I don't have the temperament for that kind of financial risk. They could have trashed the house. It had a wood-burning fireplace in it so they could have burned the house down to the ground. Anything could have happened. So I don't buy rental property anymore.
Fast forward to 2020 when "the government" put a moratorium on paying rent and on evictions during COVID. Everybody took advantage of that. The landlords got screwed because they still had to make their mortgage payments, etc.
Mayor Mamdani in New York City has just announced rent freezes on a million established apartments in NYC. How can he do that? That's totally unfair to the owners and landlords of those properties who do this for a living. Housing is not a charity.
Would you like to be an owner of rental homes or apartments?
5 people like this
6 responses
@xFiacre (14871)
• Ireland
7h
@looeyville No way. Too risky. Church I worked for had a spare house that it rented to very respectable, well-to-do people and without even asking they threw out the expensive carpets and painted the raw floor boards white. Painted all the oak kitchen cabinets, replaced kitchen lights etc.
3 people like this
@LeaPea2417 (40098)
• Toccoa, Georgia
5h
No, I would not. Too many bad stories I have heard and read about.
2 people like this
@JudyEv (383382)
• Rockingham, Australia
Just now
It's certainly a bit of a lottery as to whether you get good or bad tenants. I don't need that kind of stress either.
@LooeyVille (122)
• United States
7h
The Mayor is saying that whatever amount of rent the landlord is charging now is "frozen" and that they can't raise their rent.
2 people like this
@Wrexxo (2668)
•
7h
@LooeyVille that's so unfair. The tenants will love that though. .. maybe he feels that the landlords just increase their rent anyhow
2 people like this
