Reason I’m asking is because I have an aunt that owns like maybe 3 - 5 (not sure the exact amount) small townhouses around the city (well, when I say “city” think of like the areas around a city where theres no tall buildings, but only small 2-3 stories single family homes in the neighborhood) and have these houses up for rent, and honestly, my aunt and her husband doesn’t seem like a terrible people. They still work a normal job, and have to pay taxes like everyone else have to. They still have their own debts to pay. I’m not sure exactly how, but my parents say they did a combination of saving up money and taking loans from banks to be able to buy these properties, fix them, then put them up for rent. They don’t overcharge, and usually charge slightly below the market to retain tenants, and fix things (or hire people to fix things) when their tenants request them.
I mean, they are just trying to survive in this capitalistic world. They wanna save up for retirement, and fund their kids to college, and leave something for their kids, so they have less of stress in life. I don’t see them as bad people. I mean, its not like they own multiple apartment buildings, or doing excessive wealth hoarding.
Do leftists mean people like my aunt too? Or are they an exception to the “landlords are bad” sentinment?
I would say that if you live on site, in one of the units of the rental property, then no, you are not a parasite. So, live in one side of a duplex, or in one unit in a quadplex that you own, no problem. But, if you’re renting out a unit where you don’t live, you’re some degree of parasite, yes. Maybe you’re just an an annoying little gnat, rather than a 40’ intestinal worm, but yeah, you’re still a parasite.
There are other, less-parasitical methods of investing involving real estate. Your aunt could offer the propert(y|ies) for sale with a private mortgage, or under a “land contract” (a sort of rent-to-own arrangement). Because equity is transferring to the occupant, and the terms are fixed for the life of the agreement, this arrangement is mutually beneficial, rather than parasitical.