Quote:
Originally Posted by MonkeyRonin
In most places it's probably not an issue, but in more competitive, high-cost markets it absolutely is a real possibility. Rapid gentrification and price increases aren't common; or, the more likely scenario is if a building is sold to a new landlord, that they're likely to jack up the rents to recoup the cost of the sale.
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In a free market economy that is the property buyer’s right.
One of the things you aren’t acknowledging is that “ownership” gives you rights that “lessees” don’t have, but being the owner you also have burdens that lessees don’t.
Owners have to maintain the building at their own costs. Tenants dont.
Owners have to pay the property tax and insurance on the property. Not tenants
Owners have to pay the mortgage, tenants don’t
Owners have to deal with zoning issues, not tenants
Owners have to deal with any medico-legal liabilities related to their property, not tenants
So if the owner is going to be stuck with all this, then they deserve certain rights, such as deciding what to charge to live in
their property.
Tenants can’t have their cake and eat it too. You can’t have all the benefits of being a tenant while also have the rights of ownership. If you want to have the rights of ownership, then go buy your own property.