This is 100% false. Your mortgage goes up every single year.
TL;DR the insanely vast majority of landlords are normal people, don’t have much money, and are just investing in real estate for retirement, rather than an IRA. Which means instead of some corporation benefitting from my retirement plan to grow my money over time in stocks, American families benefit from my retirement plan to grow my money over time.
I had to raise my rents on my rental properties 24% this year just to keep up with my mortgage and not bankrupt myself. Who lied to you that mortgages are static? They rise right along with inflation and property value. A mortgage is PITI. Principal, interest, taxes, and insurance. Taxes and insurance are directly affected by inflation and property appreciation. I’m jacking up my rents through the rough and barely staying afloat. If even one tenant stops paying, I’ll immediately have to list that property for sale.
I don’t know where people get this insane idea that landlords are these wealthy people rolling in money and fucking over renters. We’re normal ass people, that just put our old houses up for rent rather than sell them. I’m just a normal guy that might sit next to you at the next wing commanders call. If I’m raising rents, it’s because I HAVE to raise rents. I’m not some greedy asshole stroking my mustache making money hand over fist. Hell, one of my houses the property manager rented for too low and let the tenant sign a 24 month lease. I’ve been losing $200/mo for almost 2 years. So yeah, when that lease it up in a couple months, I’m going to raise it up to current market rent of +$500. Landlords take on all this risk, and spend tens of thousands of dollars, and provide homes to 50% of Americans, and somehow, people collectively hate landlords. I’m just trying to give people a home to live in, basically using my retirement money. Instead of investing my money in the market with an IRA, and letting that grow in value to retire on; I’m investing my retirement money into a house, providing someone a home, and letting that retirement money grow to retire on. It’s the same thing. If I don’t raise rents, that house will soon not be mine, and the tenant won’t live there at all and have to find a new home.