well, let’s see
My renter’s rent is subsidized by the fact I can take tax deductions and depreciation (which I am forced to take)- otherwise I’d be losing money every month - negative cash flow after I pay the mortgage, taxes (which are 50% higher than residences in this town for “non owner occupied” property) and all other expenses. His washer quits? I replace it. His refrigerator quits. I replace it. He trashes the place? I fix it.
I look forward to renters sharing the cost of reducing the federal deficit by paying higher rent, with those leases that allow rent increases in line with owner cost increases. My lease doesn’t allow that but it will from now on.
And may the rent increases be as swift and as steep as the cost of owning property will be if mortage deductions are eliminated on people who made their purchase decisions and budgets based on long time (decades old) tax codes.
AMEN!
Eyes