One aspect of being a landlord that is often forgotten (especially in this exuberant market) –
Expect routine cash outlays. Rental properties aren’t all about money coming in. You’ll probably need to paint apartments (or offices) between tenants and every few years for remaining tenants. Rugs will need to be replaced, locks changed, various repairs and upgrades made. If you want to attract and keep tenants, your property should look clean and decent.
A Justice Department antitrust suit against the National Association of Realtors raises a tricky legal question: Who controls information about homes listed by brokers as available for sale?
And yet we have to admit the Realtors have a legitimate claim that they created and own the local MLS database of homes for sale. They are thus within their rights to use their private property as they wish, even if that includes denying access to competitors. As an economic matter, there are no natural barriers to entry here; anyone can start a competing listing service if he desires. The Justice Department’s lawsuit would require that all homes be listed on the MLS even if home sellers don’t want them to be.
There are alternative business models and multiple websites for searching for homes, that are privately held as well. The biggest difference is that these other sites do not comprise nearly as large piece of the market as does the MLS. Should these alternative sites be forced to open to their competitors as well?
