People refuse to pay their rent

I really believe that the collapse was going to happen even before Corona.
I think Corona is a perfect excuse to be blamed for the misery and suffering that is to come.
It will certainly add to it.

Here are some thing's I've observed.

People are not paying rent, even if they have the money. (This is crazy)
I'm not a renter or landlord, but I frequent architectural forums etc. Some of the posts shocked me.
Many people, not just one or two, believe that charging rent, ANY rent is unethical... They were calling for
rent strikes across the nation.

On another local forum, a man was in the process of being evicted, and had the rent money
but didn't want to pay it unless he was going to get his security deposit back. When people told him to pay his rent, he
gave every excuse in the book.

Yet another forum a landlord was exasperated. She had inherited a house, and instead of selling rented it out. The renter is refusing to pay and she
can't kick them out. Her mortgage is due, but she is not able to get mortgage forbearance (not sure all the details). The comments shocked me.
Many feel she is rich for having two houses and she should suck it up.

I think this trend will cause a lot of mom & pop type of landlords to get out of the game. That will leave only corporate type
of landlords, and we know what a big heart they have. (sarcasm)
In the end, I think a lot of renters are shooting themselves in the foot and they don't even know it.

a reply to: JAGStorm

It’s a viscous circle. I see both sides of this debate. We are damned if we do and damned if we don’t.

This is a lose lose situation for the common person. But a BIG WIN for large corporations, as you mentioned.

I do not look forward to seeing where we will all be in a couple years.

a reply to: JAGStorm

My friend just got some units completely transformed, up and running. She put in her own labor, along with friends, and did all of the hustle for investments, etc. It took about a year and a half of work (not full time) to finish her project and she had filled all of her units in February. To think of the entitled thought process which would lead to a person thinking he/she deserves a free roof over his/her head is mind bogglilng.

Let me see??? Money for rent or money for food???? Yes, there will be people taking advantage of the situation as an excuse not to pay the rent, but the landlord MUST recognise that some people who are thrown out of work cannot pay both. Yes the landlord can demand his money but in that situation I would do exactly the same.

a reply to: crayzeed

The problem is that landlords need to buy food as well.

a reply to: crayzeed

I have several rental properties and have only one renter that is laid off.
She's actually getting more unemployment than if she was working thanks to the $600 stimulus check.

originally posted by: zosimov
a reply to: crayzeed

The problem is that landlords need to buy food as well.

Most landlords have savings accounts. That’s why they are called the ‘land lord’. Your average tenants do not.

originally posted by: KKLOCO

originally posted by: zosimov
a reply to: crayzeed

The problem is that landlords need to buy food as well.

Most landlords have savings accounts. That’s why they are called the ‘land lord’. Your average tenants do not.

They also have mortgages, insurance bills and high taxes. It's not all sunshine and lollipops.

a reply to: JAGStorm

We have and will continue to pay our rent. When the official State of Emergency is expired and all of that past due rent is all due at once the eviction courts will be full and many will be homeless. There's no such thing as a free lunch.

Before I moved to Kentucky six years ago I lived on the SE Texas Gulf Coast. After major natural disasters there is often a suspension of rent and utility payments. Once they get the lights and water back on for most people all of those payments become due almost immediately and those who didn't bother trying to make some sort of arrangements to pay start scrambling for their lives and the results are never pretty.

a reply to: KKLOCO

I think the word "lord" can be misleading. But I think you have a point in some cases. Either way in my opinion, integrity means honoring one's contracts.
As I wrote before, my friend put in a year and a half's work into her properties. Could you honestly support another person in benefitting from my friend's labor if she could not?

I had a rental home for several years and was blessed with great tenants. I’m glad I sensed it was time to sell it last year because it would be extremely difficult to have to pay two mortgages.

I know this because we had to pay both for about 5 months. We had to make improvements on weekends before putting it on the market and then, the lengthy closing period. It was stressful as hell and wiped out almost all savings plus, happened during the holidays. I’m so glad it’s sold considering the state of things now.

Sooooooo in Seattle we have a person or an enitity called Kshama Sawant. She is a Seattle council woman who has been advocating for all the socialism agendas you can think of. and one of them is rent control. Yes this has been happening before pandemic. But you have lots of people trying to use this as a way to not pay rent. Even esteemed council leaders.

slate.com... eattle-rent-kshama-sawant.html

Kshama and her Swat teams have been notorious for asking people to sign this petition and that petition in regards to rent control. ( I just thought of that name for them, I like it haha.)

originally posted by: zosimov
a reply to: KKLOCO

I think the word "lord" can be misleading. But I think you have a point in some cases. Either way in my opinion, integrity means honoring one's contracts.
As I wrote before, my friend put in a year and a half's work into her properties. Could you honestly support another person in benefitting from my friend's labor if she could not?

Like I said, I see both sides of this. I lost my company instantly when Trump announced the travel ban March 12th. I haven’t had any income since March 15th. I’m still paying rent. Fortunately, I saw the writing on the wall very quickly. Moved very fast to consolidate expenses.

I’m blessed with the ability to make life changing decisions very quickly, with no hesitations. That’s another reason I felt fortunate in this situation. Many are still clinging to hope — that isn’t there.

It’s pretty simple, if you can’t pay your bills — consolidate ANYTHING unnecessary. Pool resources with other people. That’s what I had to do.

originally posted by: KKLOCO

Most landlords have savings accounts. That’s why they are called the ‘land lord’. Your average tenants do not.

WRONG.......

I and members of my family have been landlords in the past, not only

were we only averagely employed, at the time we had no savings the properties

we were letting were on mortgage, as instead of selling when we moved on we

just bought another property...... the rent was paying the mortgage and that

was what would be our pension fund (savings)


However we all got out when the law was changed to the benefit of the tenant

and you wouldn't believe the disgusting state many tenants left the

properties in........disgusting is not strong enough!!


Human nature has it that most people do not take care of anything that doesn't

belong to or is owned by them.

a reply to: American-philosopher

I dont suppose she has advocated for lower taxes for the landlords.

I would wager not.

a reply to: KKLOCO

It's a shame to hear your life was so badly impacted by this crazy unforseen tragedy. I am glad you were able to figure out a quick plan b.

True, not everyone can do this. These are really tough times.

originally posted by: zosimov
a reply to: crayzeed

The problem is that landlords need to buy food as well.

I don't see how their situation differs.

I think the renters and your friend should be pissed that banks are getting bailed out while they're suffering. Your friend should get relief and she should pass it on to tenants. Then when the economy starts neither she nor the tenants is financially destroyed. If we have to, and it's getting pretty clear we do, bail out banks once a decade then we need to see some of the benefits at the ground level.

a reply to: Bluntone22

I dont suppose she has advocated for lower taxes for the landlords.

Hahaha. thats so funny.

www.bizjournals.com..." target="_blank" class="postlink">www.bizjournals.com... tle/news/2017/11/03/kshama-sawant-landlord-relocation-pay-rent-hikes.html

a reply to: Ksihkehe

It differs in that one is providing services/goods to the other.

originally posted by: Bluntone22

originally posted by: KKLOCO

originally posted by: zosimov
a reply to: crayzeed

The problem is that landlords need to buy food as well.

Most landlords have savings accounts. That’s why they are called the ‘land lord’. Your average tenants do not.

They also have mortgages, insurance bills and high taxes. It's not all sunshine and lollipops.

Mark this day...I agree with you. My sister, for instance, has a self contained rental apartment in her house and it helps to pay the mortgage. Without that income, she's sunk. My thing has always been, first you make sure you have a roof over your head!