They have confused a "landlord" with a "bank". When a bank owns your property but accepts monthly payments from you it's called a "mortgage", you build "equity" when you pay monthly. This is your "part ownership".
Landlords pay "mortgages" to banks and you pay landlords "rent' to live in a property with minimal time frame commitments, near zero repair and maintenance commitments and the ability to walk away from said property without having to sell the property or pay off a loan.
In what world would a landlord rent out a house if it meant they lose their own equity as soon as they get it??
AHAHAHAhahahaha
They have confused a "landlord" with a "bank". When a bank owns your property but accepts monthly payments from you it's called a "mortgage", you build "equity" when you pay monthly. This is your "part ownership".
Landlords pay "mortgages" to banks and you pay landlords "rent' to live in a property with minimal time frame commitments, near zero repair and maintenance commitments and the ability to walk away from said property without having to sell the property or pay off a loan.
In what world would a landlord rent out a house if it meant they lose their own equity as soon as they get it??
As a property manager, I've never had a renter take as good a care of a property as a homeowner.