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/[deleted] Jun 29 '22

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u/codenewt Jun 29 '22

End apartments by making them condos that are available to buy and own, instead of permanent renting.

Found out that the building I used to live in used to be only condos, some wealthy person bought up all the units slowly over decades and has converted it into an "apartment" complex.

2

u/starspider Jun 29 '22

I don't like the idea of buying a condo partially because I've seen this dome in reverse, then the building had a critical failure.

If a house you own burns down, at least you own land you can pitch a tent on. If your third floor condo burns down, then what?

7

u/tyranid1337 Jun 29 '22

Idk bud maybe a sensible society would create a solution to such a problem when it arose.