Jan 9, 2016

101 reasons why landlords should not receive rent

Once upon a time, a hundred owners of a hundred apartments in a big downtown apartment block decide together that they will rent out their apartments. They appoint an agent to manage the property.

As months pass without any rental distribution, a few landlords ask for their rental income. Surprisingly, many landlords argue that the rents should not be distributed to the landlords.

The economists among the landlords argue that rental distribution will lead to inflation. Economic statistics and wisdom show convincingly that more money will lead to inflation. Inflation, as we all know, is a monster that must be avoided at all costs.

The social scientists come out and warn everybody that rental income will make people lazy. People will simply laze around and their minds and bodies will be wasted. The country will be ruined.

The community-minded landlords want the money to be used for the benefit of everyone. It is better to use it for building a grand fountain instead of distributing to everyone.

The forward thinkers propose a basic income for all landlords. Many landlords are skeptical that there is enough money. Nobody could agree on what is a basic amount, and the arguments could not be settled to the satisfaction of all landlords.

The agent further warns that rental distribution will draw down the property management reserve. That slippery road will turn the apartment block into a slum.

The agent even set up welfare funds. Poor landlords can apply for welfare. Of course, rich landlords sneer at the welfare cheats and complain bitterly that their money is being used to subsidize the lazy landlords.

And so on and so forth.

The landlords are convinced by the 101 reasons.

As a result, the property management reserve grows and grows. The property gets a fresh coat of paint every year. Every apartment is on an annual upgrading plan. Fresh carpets are laid. Interiors get redesigned. The agent even hire security guards to patrol the property and even the other houses of the landlords. The property stands out as the best property downtown. And everybody lives happily ever after.

(This post is inspired by this book: 101 Reasons for a Citizen's Income: Arguments for giving everyone some money, by Malcolm Torry)

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