this post was submitted on 12 Jul 2023
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Agreed. Pretty much any property a person owns past the first single-family home or equivalent should be treated as income and business expense and should be taxed as such. There should be a bigger incentive when you move homes to buy a new home and sell your previous. Rather than buying a home when you move and putting the previous up for rent, slowly accumulating properties to be used as passive income and denying homeownership to younger people.
I'm not 100% sure we should even allow corporations to own housing property at all, but that's a bigger question.
Unfortunately, in the case of housing a lot of the abuses of tenants' rights tends to be caused by amateur landlords (who don't know how to properly plan ahead). There are a lot of laws to know and unexpected costs involved, so having a larger building management entity makes sense here. It would be cool if non-profit renters' co-ops (like the people in Hamilton trying to buy their apartment building) could be successfully formed.