ID: A Sophie Labelle 4 panel comic featuring Stephie in different poses, saying:
Landlords do not provide housing.
They buy and Hold more space than they need for themselves.
Then, they create a false scarcity and profit off of it.
What they’re doing is literally the opposite of providing housing.
With homes i agree and with apartment buildings over 10 units it should be mandated to maintain 95% occupancy year round across ALL owned buildings. Only reason I say 95% is because there’s gonna be highs and lows so I think 5% is very fair for unoccupied space. This would also cover the in-between of someone moving out and needing to get the unit ready for another person. If a land owner can maintain that then I think it’s fair to let them continue growing and should they fail to meet the requirements then they can’t buy any more properties. I would recommend also that 1 single year of 95% doesn’t immediately qualify you for growth. A penalty of 2 years consistently having 95% must be required.
Not sure you thought through your numbers if only because 95% of 10 means you can only have half a unit unoccupied.
Round up dawg. Most apartments these days have 20+ units anyways.
But the comment says it would apply to buildings with over 10 units. So, for a building with 11 units, that gives 132 unit-months per year. With a maximum unoccupied rate, that’s 6.6 unit-months per year.
As the renter, I’d really appreciate my landlord wait until I’ve actually moved out to start showing my unit, although they don’t always do that. Assume all 11 units decide to move at the end of their leases, that means the owner has a little about 3 weeks per unit to clean, do any maintenance and repairs, and find a new tenant. If the unit needs extensive repairs/cleaning, the owner probably doesn’t want to even start showing it until the repairs are completed. Hopefully most tenants renew their leases and stay longer than 1 year, but the owner can’t count on that. Even on a larger building, the numbers still average out to 3 weeks per unit, but at least the effect of a few extra non-renewals is smaller.
I think a 90% occupancy rate would be a little more realistic, but would probably still need some room for exceptions.
Yeah, I don’t disagree with you. 95% is probably just a random number the other commenter came up with. Certainly if this system was to be put in place, we’d need to have a more flexible solution than just a plain percentage.