Great questions!
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Yep, you can sell it* to someone else. Or it’ll just sit there and then I would advocate for some kind of common sense squatters law to take effect.
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Short answer: See 1; long answer: you could find somewhere run by e.g. a housing co-op, or a (long-stay) hotel, or a property management company* and stay there.
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Yes I’d be fine with that, caveats:
- You are also benefitting from someone tending to the house while you’re gone, so I’d expect the amount to be commensurate with that*.
- You’re not going on holiday to another one of many other properties you own which you also rent out when you’re not in them.
Note: All my answers involve exchanging some kind of value (indicated by *) for money, and that’s my key point. If you’re actually contributing something then I have no problem with that. But that’s not what being a landlord is. A few ways this is evident:
- We already have words for all the jobs: Architect, building super, cleaner, designer, engineer, landscaper, manager, plumber. These are useful skills, people should get paid for them, but:
- A landlord is different. They make money by rent seeking, per Wikipedia: “the act of growing one’s existing wealth by manipulating the social or political environment without creating new wealth”. They don’t do anything except own a piece of paper (and the blessing of our current laws) which says they can do that.
Now, the water can get muddied when people are both landlords and do the other jobs (e.g. cleaning), but it’s pretty easy to think of other examples of this:
I also skim money out of the register, but I also get paid to work in the store. In both cases (rent seeking and skimming) I’m making money, but not actually adding any value.
Or, to my original example: Scalping tickets. I’m not putting on the show, I’m not the talent, or involved with the venue, I’m not printing or shipping the tickets. I’m not doing anything except gaming the system to make money.
Just like robbing a bank, just like ponzi schemes, and just like Sam Bankman-Fried: Gaining money, not adding value (aka creating wealth).
The only difference is we decided (as a society) some are legal, and some are illegal, and I have a good idea why (see Figure 1.).
How would you defined a what a landlord does, then?
I’m happy to use a different word if that would help, but whatever you call it, there is a structure in place that allows people who own property to make money by doing nothing. Call it ‘land lording’, call it ‘passive income’.
Yes, but only if it’s:
a. Legal, and: b. Some people can accumulate enough wealth to buy up multiple properties, and: c. Some people are too poor to afford any property (or qualify for financing).
Which is the situation we’re in.
Well we can agree on this. But I’d go further and say that’s always going to be the case, because:
a. Housing isn’t something you can opt out of. b. The people who own the homes have all the bargaining power. c. The more money you can accumulate through renting the more power you have.