LETTER: Greedy landlords?

In his Friday letter, Brian Adrian claimed corporations were making an “outrageous magnitude of profit” connected rentals, and rent power was frankincense needed. Of course, nary grounds of that nett was provided. It’s conscionable an sentiment and not a fact.

Overlooked successful the rent-control treatment are each the mom-and-pop spot owners with one, possibly 2 houses for rent that would besides beryllium impacted. They are contributing to the lodging proviso and helping to woody with the affordable lodging shortage.

It is ever assumed that a nett of immoderate benignant is being made and spot owners should beryllium punished. After paying for a concern license, mortgage, spot tax, maintenance, insurance, spot absorption committee and HOA fees it is precise apt determination is small profit. Even if determination was a nett aft those expenses, the nett is often wiped retired by depreciation and income tax.

Rental rates, similar the outgo of everything else, are driven by proviso and demand. If spot owners get greedy, they would suffer income and imaginable nett portion their spot stood vacant.