I like the idea, but realistically those bastards would probably find some backdoor deal so they can both profit off of you.
Capitalism doesn't need to be fixed, it needs to be dismantled.
this post was submitted on 13 Apr 2024
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Either that or companies like Walmart would buy a 6 unit building in any town they had a store then rent them for like 250 bucks a month so they had to pay like 4 bucks an hour.
I can taste the black mold and dangerous living conditions already!
Was also thinking about how they could bring the average down by offering near uninhabitable rooms for $10/month. Rooms need to be 2 m² and have a communal bathroom on each floor, of course.
They wouldn’t fight the landlords because a lot of them are landlords.
They would simply lobby to have the law repealed or, more likely, vetoed before passing. Failing that, they would exploit every loophole and edge case to take advantage of it and cry to lawmakers and voters that the law is the problem rather than their circumvention of it.
What about differently sized apartments with different amenities? Sounds like this would force standardization and a race to the bottom on minimal amenities.
The issue is that you'll just have an influx of the highest yield housing types. I think the best bet would be requiring a percent of your owned properties in a market, say 20%, to have rent not exceeding a cap tied to minimum wage. That'll ensure at least 20% of the rental homes are at an affordable price for minimum wage earners, and open up the other 80% to be higher cost, better amenities, etc.
The NL has a points system with its rent caps, so nicer flats have a higher cap. I'm not saying there isn't a housing crisis in the NL though.
Interesting! Do you see more builds being built at the higher cap, thus attributing to the housing crisis? Thank you for taking my question seriously.
@Ookami38@sh.itjust.works's idea of having a portion be mandated for Minimum Wage rent has some teeth.
To be honest, what I see is that the market is frozen, and while there are a lot of different houses, almost all are occupied. I rent from a corporate landlord in a high-rise, and the law keeps them decent. That said, their occupancy is basically single digit units free out of tens of thousands in the NL. It's bonkers.
I guess what I'm saying is that these measures, like min wage help band-aid over the absolute worst problems, but they don't make the market good. More building, more units, especially if built by the government to alleviate problems, would be good. If I understand correctly however, the previous few governments were all leaning neoliberal, so that did not happen.
There is no need to reinvent the wheel. Just implement good old rent control that limits the price per square meter/square foot.
There wouldn't even be a class warfare because bosses are landlords. We are seeing this now already, bosses are forcing people back into office because their real estate is losing in value. So they would fight the law just as they are doing with rent control.
And the second proposed system could even be heavily abused and create a worse situation for everyone. For example, landlords have 0 incentive offering bigger units anymore. So they mostly offer the legal minimum to fulfill all regulations. Bigger homes would become "benefits" offered by your job. But obviously if you lose your job, you will lose the housing provided.
I think an interesting side effect would be the massive reduction of houses being bought as rental properties. If you had no real way to cover a mortgage or even some of the absurd property taxes with the rent you could get, your wouldn't invest unless you really believe in the area or are buying to fix and sell.
It would basically tank the housing market and put everyone who owns a house with a mortgage under water. Would suck for me, and I'm not a landlord.
Oh noes! We're so worried for the lords of land and property owners. If you have owned your property for more than 3 years please step out of the conversation.