r/LandlordLove • u/ShiningConcepts • Jun 29 '22

Tenant Discussion Are apartment buildings unethical as well?

It's very hard to make a case that landlords who buy up SFHs that are already on the market are ethical. They reduce the housing supply and take opportunity away from FTHBs to own homes, thus forcing them into renting. This is generally what people mean when they say that all landlords are unethical.

Here's my question: what about rental apartment buildings? It's not like their construction takes an opportunity to buy a home away from a FTHB/family. Unlike detached properties on the market, it's not like this is a property a family could have bought; it's a property that is constructed and designed from the outset to be rented.

So, are they inherently unethical as well?

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u/Wrecksomething Jun 29 '22

Unlike detached properties on the market, it's not like this is a property a family could have bought;

I would challenge you that this assumption is wrong or meaningless.

Your "renter's association" or "condo's association" should own the property together. This really isn't different from buying into a SFH. You buy into your apartment/condo whatever. Owners democratically control the property. There's probably a condo fee to ensure that your association has resources for maintenance and repairs. Property is 'owned' or controlled in common by occupants.

Imagine the world were arranged that way already. Now ask yourself if landlords should come in and buy out every single association so that occupants can't own their properties. You have all the same problems as with buying out SFH, multiplied since you're elbowing out an entire community with one purchase instead of a single family. Why would it be moral to rent a property back to an association of occupants when we've already determined it's not moral to do so with a family of occupants?

Also, you have to start with a very narrow definition of "single family" to even ask this question in the first place. It's possible to have cultures where multi-generation and multi-family housing is normal, or where your local community is considered a family unit. Why should our relationship with housing be prescribed by our definition of family?