In the future, only investment firms will own homes and everybody will be renting their whole life. At the end of their lives, they will have no inheritance to pass on to their children.
You will own nothing.
You will own nothing.
the big business only cares about getting their rent in time. if there is something damaged, the maintenance department takes care of it. at least in germany responsibilities and rights are regulated by law, and the businesses know what they can and can't do. a small landlord takes every issue personal, and you have to negotiate.
i don't live in the same city as my parents, and i'd have no use for any property i would inherit from them.
so yeah, your future is my preferred reality.
I saw some of these properties (Progress Residential) and the properties were not maintained in the slightest. These were move in ready propeties that haven't had an ounce of cleaning or maintenance.
They'll take your rent, ignore your maintenance beyond the required minimum and evict you if you don't pay.
> if there is something damaged, the maintenance department takes care of it.
In 3 weeks. At 11:15 AM. On a workday that you have an important meeting at 11:30 AM and cannot miss. Oh, you need a different date? Well, how about in 2 months at 11pm on a Sunday? Of course, we won't be able to actually do any of the work that late because of noise issues, so you'll need to schedule a follow-up maintenance appointment. (I'm only roughly paraphrasing what happened to a friend when their dishwasher broke.)
On the other hand, renting from a private landlord who's renting out their old home or similar has been much more fruitful for me. Perhaps it's because I spent the time to vet the landlord a little bit as well.
There are good management companies, and there are bad ones. There are good private landlords, and there are bad ones. Companies, and more specifically the people at those companies, also take things personally.