Technology

60083 readers

4481 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago

MODERATORS

391

RTO doesn’t improve company value, but does make employees miserable: Study (arstechnica.com)

submitted 9 months ago by L4s to c/technology

30 comments fedilink hide all child comments

RTO doesn’t improve company value, but does make employees miserable: Study::Data is consistent with bosses using RTO to reassert control and scapegoat workers.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 9 months ago

Wouldn’t you just take the depreciation now and write it off on your taxes if you own the building?

These people don't "own" the buildings though. Most of them have mortgages and if there's not enough, or no, tenants then they can't make their mortgage payments, they go into default, and then the Bank is left holding a property that's worth a lot less than what it was in 2019. This wouldn't be a problem if it was a few buildings in a few cities but when it's tens of thousands of properties in every city in the United States...well...we could watch a replay of the 2008 Crisis and it could be even worse.

If you are the lessor, why wouldn’t you keep pushing WFH so you can get a lower rate if you decide to renew the lease at expiration?

A lot of lessors are also owners or they have investment in CRE. Meta for instance may not own one building it's in but it could easily own another one in that city and they DEFINITELY own large expensive buildings in other cities! They have a strong financial interest in not allowing a CRE price collapse, it'd cost them way more money than they'd ever save negotiating down a lease rate on a rental property.