"Housing prices would drop if it were truly like that and tenants were leaches."
It is like supermarket prices. The price honest shoppers pay bears a percentage for the shoplifters that don't pay.
Maybe prices would drop if all tenants looked after the property they rent. The cost of repairs and loss of income through unpaid rent is passed on to all renters.
Maybe there would be more places to rent if all renters looked after the rented home.
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