But you are being cheated due to the landlord earning equity on your dime.
FYP.
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The Ballad of the Poor, Poor Landlords
The landlords could learned to code.
Do the landlords have to go to Starbucks?
Maybe the landlords should have saved some money.
If you have any info on going from squatting raw land to building a house on it and owning it, Iād be interested. A number of vehicle dwellers have bought remote land intending to have a permanent place to park only to find that it can be illegal to live in your vehicle in your own property in the middle of nowhere.
I just went over a dozen multi unit listings on MLS in my city and did the math on them. I live in a city of 4M people.
At the prices advertised and the rental amounts (about 15-16x difference), I have yet to see a building cashflow.
I am incorporating insurance / taxes / school / mortgage / property management / heating / capital reserves / vacancies.
Yeah the landlord will make money on capital paydown and rent appreciation. But we can solve those issues of excess with higher tax rates or removing capital gains taxes.
This is much ado about nothing.
What about capital gains?
I donāt have any specific knowledge at all. So Iām just talking in generalities and anecdotal gossip.
Today, in pretty much every jurisdiction, you need to have some kind of permanent sewer treatment abilities. You also need effective vehicle access, and installed access to some utilities (electricity and usually water). Thatās going to be true in 100% of urbanized areas, and 100% in areas like almost all of undeveloped SoCal (deserts, canyons, mountain sides, other sensitive areas, etc).
Iām pretty sure Slab City is tolerated, not to code.
You need to find land you can camp on legally & build on legally. This will more often be found in areas with more rainfall than SoCal.
As a historical note: renting camp ground like spaces as permanent housing was pretty wide spread in SoCal until the 1920s. At that time racism (primarily), fire safety, and things like the flu pandemic of 1918-1920, led to the wholesale outlawing of this practice. The lots in the older part of Missile Beach, where my shack is located, we originally rental camp ground like spaces until 1916, then were sold off as individual lots.
lol Iāve seen the books of about 130 properties with over 4000 units in the last year and 90% of them had a pretty good return with the other 10% around breakeven
Well, if itās all much ado about nothingā¦ no need to bring back the bad old days with the violence of evictionsā¦ correct?
The next time you ask how housing is built, I promise not to answer that āIt can only be built because of people that havenāt been born yet.ā
Please lord, let me resist that temptation.
And thatās without accounting for capital paydown and rent appreciation, which danby correctly pointed out. On top of that, include things like depreciation and then the ability to later do a 1031 tax deferred exchange, etc etc. The real estate tax code is basically a funnel that is designed to take peopleās rents and put as much as possible into LLās pockets.
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Well you know, Georgist systems only require tax changes too. In fact, an actual single tax plan would eliminate all taxes except property taxes, while excluding all improvements from taxation. A hybrid system with other taxes added in, as I understand they have in Singapore, works in much the same manner.
So would you consider this approach -vs- going back to the bad old days?
Slab City is sort of tolerated. Itās under constant threat, which makes it so investment in anything that would last is hard. On much of the remote public land in the West (BLM or national forest) you can camp free for 14 days and then you have to move about 20 miles.
On private land there are a lot of places that are remote that allow septic and some people have installed septic with no intent to use it just so they can stay. A lot of places just require a permanent house with restrictions like being bigger than 500sf if you live on the property more than x days a year. In some places itās 6 months and some people camp on their property half the year.
Most desert land is too fragile for permanent camping. Same with other kinds of land, like wetlands and flood plains. One of places where permanent camping is viable is forested rainy mountain land. There are areas in the Sierras, and IIRC as close as near Big Bear, where you can buy accessible camping lots. Most national parks/etc have private camping lot enclaves.
The problem there is is that it is quite common to ban new permanent buildings on legal camping lots.
Septic counts where legal. Some highly urbanized areas require septic for various reasons. OTOH almost anywhere where sewer service is available, even if not accessible, has banned septic. Also septic is going to be banned in most sensitive areas, like deserts/etc.
The game changer is legalization of car camping on public streets. Which they did here in San Diego for about six months last year.
Property tax accounts for 4.8% of government revenue in Singapore.
Not very long ago the SCOTUS decided cities canāt ban car camping unless they have available housing, which none of them have. There are lots of parking restrictions, including on vehicle size, but under 20ā long and 7ā high and I think all cities are being forced to do some accommodating.
Eta: correctionā¦it was a lower court decision. SCOTUS refused to hear the case
Eta: San Diego is still doing some ticketing despite a court order
Eta: I give up. San Diego is going back and forth. LA has a map of where you can park. If I need to car camp in San Diego how about your driveway? (Probably still illegal)
I think legalized car camping is inevitable, and what weāre seeing now is just a rear guard movement. And only in CA: because of prop 20, when this all happens, the beach zone will be wide, wide open.
And in other newsā¦
Isnāt the expected useful lifespan of new construction today >>>> the expected useful lifespan of planet earth under capitalism ??? Do we really need to build any more new houses ever, if thatās the road weāre going to take?
Dude, I just got off the phone with my friend/slumlord. OMG!
A lot of these rentals have tenants who are section 8. The government pays $600 of the $800 in rent. Note that the $600 covers all of the LLās expenses, with $40 left over.
If the tenant stops paying their share of the rent($200), the sheriff evicts them after 28 days(lol tenant rights in Arkansas). Meanwhile, even if the tenant stops their portion of the rent payment, the government still does their share($600), which again is enough to cover all of the LLās expenses + $40.
sec8 : landlords :: gas : arsonists
Thatās legal as long as the vehicle is legally parked, on private property, the house itself is legally habitable, and it doesnāt put you over an occupancy limit (where applicable). Itās pretty common at the beach for folks to use a Winnebago as guest quarters.
ETA: Or unless thereās a deed restriction. All the above would exclude incidental use. Also this would be code (you might get a call for zoning), not criminal.
Goodluck PocketChads.
I am doing well financially so I wonāt be doing a rent strike.
I foresee your movement getting crushed though when things open back up. El Trumpo isnāt on your side and evictions will be back on the table in about 1 or 2 months.
You should think about your credit though. If you go through an eviction that stays on your record and will be hard for you to get housing in the future.
This feels like a mini occupy wall street where the movement just gets crushed. The momentum isnāt there I feel.
I wish you well though. No hard feelings at all.
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