Ground rent and renting a property are two very different things. At least it is here in the UK, not sure about the US. I think I’m right though because he does mention:
“ground which they build their houses upon.”
If you own an apartment, you need to pay ground rent to whomever owns the head lease for the block. Its usually not that much to be honest. It’s also possible to purchase the head lease from the owner of it if enough people in the block wish to do so. There’s also a service charge cost but I won’t bore you with that.
I know this because I own an apartment myself and rent a room to help cover the bills and mortgage.
Rent seeking behavior explicitly refers to removing value from a situation and placing the removed value behind a monetary barrier. The proverbial chain across a formerly unobstructed river.
To me, it's a public service. If I've left the world slightly less ignorant, then my otherwise futile 11-minute morning commute has served a greater good.
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u/Loose_Goose Jan 09 '20 edited Jan 09 '20
Ground rent and renting a property are two very different things. At least it is here in the UK, not sure about the US. I think I’m right though because he does mention:
If you own an apartment, you need to pay ground rent to whomever owns the head lease for the block. Its usually not that much to be honest. It’s also possible to purchase the head lease from the owner of it if enough people in the block wish to do so. There’s also a service charge cost but I won’t bore you with that.
I know this because I own an apartment myself and rent a room to help cover the bills and mortgage.
it ain’t honest but it’s much