I agree that’s the problem. Property taxes go up, rent has to go up to cover it. If property taxes go up by X amount but you can’t raise rent the appropriate amount then there’s a problem.
You could just make slightly less money. It is allowed. It isn’t like chemical reaction balance thing. It isn’t even that they are losing money, they are just making less than they want.
I am sure with all the lawyers and accountants that work in Washington DC they can easily structure it to deal with a few edge cases. I am pretty sure my dumbass could figure it out. Maybe a tiered system looking at the last few years, ones that are on there verge of failure have more control compared to ones doing well.
I agree that’s the problem. Property taxes go up, rent has to go up to cover it. If property taxes go up by X amount but you can’t raise rent the appropriate amount then there’s a problem.
We need to cap both.
You could just make slightly less money. It is allowed. It isn’t like chemical reaction balance thing. It isn’t even that they are losing money, they are just making less than they want.
Make slightly less is one thing. Going negative is another. Many landlords work on a shoe string budget.
Oh darn. Maybe they should get jobs if money is so tight!
I am sure with all the lawyers and accountants that work in Washington DC they can easily structure it to deal with a few edge cases. I am pretty sure my dumbass could figure it out. Maybe a tiered system looking at the last few years, ones that are on there verge of failure have more control compared to ones doing well.
These two things are not linked. Rent already is as high as the market will bear, property taxes will come out of landlord profits.
Likely not, I think if taxes go up 10% rent will go up 10%+ percent.
Yeah, that doesn’t math out.
Also, my rent got hiked 13% last year, despite the taxes remaining the same. Which is why I threw everything I had into getting out of renting.
How are they not linked? The taxes have to be paid. The money comes from the rent.