Only if they’re selling the house. Owning builds equity but you can’t live off that unless you sell the asset to get access to the money. In order to live off of it the profit has to come directly from the renters.
I don’t understand the law you’re proposing.
It was a hypothetical to prove a point, not an actual proposed law. I would propose a significant tax increase on any residential land a person owns but doesn’t live on. This would have no affect on hotels, resorts, lodges etc. because there is a well defined difference between commercial and residential. This would affect apartment buildings by heavily encouraging the owner to live in one of the apartments, which would also encourage them to keep everything in the building running smoothly.
Only if they’re selling the house. Owning builds equity but you can’t live off that unless you sell the asset to get access to the money. In order to live off of it the profit has to come directly from the renters.
It was a hypothetical to prove a point, not an actual proposed law. I would propose a significant tax increase on any residential land a person owns but doesn’t live on. This would have no affect on hotels, resorts, lodges etc. because there is a well defined difference between commercial and residential. This would affect apartment buildings by heavily encouraging the owner to live in one of the apartments, which would also encourage them to keep everything in the building running smoothly.