People refuse to pay their rent

a reply to: JohnnyCanuck

Every now and then even a blind squirrel finds a nut.....lol

a reply to: crayzeed

hopefully you are decent enough to pack your bags and live the place nice and clean.
There are food banks and other methods for food - you want a roof or your phone / tv / internet is today's drain.

a reply to: JAGStorm

It is not just rent, but mortgages too.

Govt is telling mortgage companies to allow forbearance. The problem is the originators of those loans might be on the hook for a default is someone requests a forbearance. For example, mortgage companies that made loans in December and earlier this year may be liable if someone takes a forbearance for their May payments. Regardless of what the Feds say, that may constitute an early default and the originator of that loan is liable.

When you give people an inch, they will take a mile.

The problem with this shut down is that at least 50% of the populace lives paycheck to paycheck. The same with businesses.

It is easy for bureaucrats and politicians to just shut things down and not feel the consequences of the decision themselves. The average man on the street has to weight the options / risks and if it is worth it to them. Bills don't just disappear.

I do understand some people have to make a choice as to which bills to pay (not withstanding those that will take advantage of the situation). At the same time, people also need to be more proactive in preparing for any kind of financial hardship. Too many people live like their checks won't ever stop coming.

I saw an article where someone was saying half the NBA players are living paycheck to paycheck and may be going broke now.

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.

Nah. Typical small residential landlord is paycheck to paycheck too.. I know, I finance them for a living.

Most won't go broke after a month or two of vacancy or nonpayment, but they most certainly will be hurting. Most landlords are leveraged up so the rent they receive is barely covering the mortgage debt / other costs.

There was an article the other day in Wall Street Journal discussing how a lot of AirBnB landlords are imploding right now. They have no bookings but a ton of debt on their properties.

originally posted by: Edumakated
a reply to: JAGStorm

It is not just rent, but mortgages too.

Govt is telling mortgage companies to allow forbearance. The problem is the originators of those loans might be on the hook for a default is someone requests a forbearance. For example, mortgage companies that made loans in December and earlier this year may be liable if someone takes a forbearance for their May payments. Regardless of what the Feds say, that may constitute an early default and the originator of that loan is liable.

When you give people an inch, they will take a mile.

The problem with this shut down is that at least 50% of the populace lives paycheck to paycheck. The same with businesses.

It is easy for bureaucrats and politicians to just shut things down and not feel the consequences of the decision themselves. The average man on the street has to weight the options / risks and if it is worth it to them. Bills don't just disappear.

I do understand some people have to make a choice as to which bills to pay (not withstanding those that will take advantage of the situation). At the same time, people also need to be more proactive in preparing for any kind of financial hardship. Too many people live like their checks won't ever stop coming.

I saw an article where someone was saying half the NBA players are living paycheck to paycheck and may be going broke now.

All true. That's why they have put in rent and loan payment holidays for everyone. Just roll loans to the end of the note. For rent, provide some assistance to landlords. Had we done this we wouldn't have had to spend the many trillions of dollars and everyone could have come out of this much better than they will after the actions that have been taken.

a reply to: Edumakated

When you consider that the first three months rent pays the property taxes it takes a different perspective.
Another month for insurance.

It's depressing to see the bills.

a reply to: GeauxHomeYoureDrunk

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.

Exactly. That's why I'm bothered. Student loans also. Jubilee. Start from where you are, clean and debt-free. Maybe our species will survive.

originally posted by: zosimov
a reply to: Ksihkehe

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

Some of the renters may have been providing goods/services too prior to being shut down by the same government sending hundreds of billions to banks ¯_(ツ)_/¯

Do you think your friend and her renters should go without food or the financial institutions?

originally posted by: zosimov
a reply to: JAGStorm

The logic I've seen is if someone owns a house they can rent out.... They're "rich".

Never mind that many of these people are still getting paid, in many cases more than when they were working.

People can really suck.... And it's a shame they don't realize many people work their ass off to ensure they have a comfortable retirement.

a reply to: JAGStorm

yep both sets of my tennants arent paying rent currently and i know they have the finacial means they are just like hahaha screw paying rent so as soon as legal in my state they will be getting booted

Our landlord got rid of late fees. We were late two weeks but are now two months ahead. I doubt we would have paid ahead like that had he been an ass about the situation. So my question is, landlords, what are you doing to work with your tenants. If you can't or won't work with them, why should they work with you?

Ours treats us well, so we do the same.

originally posted by: Ksihkehe

originally posted by: zosimov
a reply to: Ksihkehe

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

Some of the renters may have been providing goods/services too prior to being shut down by the same government sending hundreds of billions to banks ¯_(ツ)_/¯

True, and just imagine if their employers had refused to pay them for their labors! It would be fairly reprehensible.

originally posted by: RalagaNarHallas
a reply to: JAGStorm

yep both sets of my tennants arent paying rent currently and i know they have the finacial means they are just like hahaha screw paying rent so as soon as legal in my state they will be getting booted

Good. They're not the types of people you want renting.

There is a difference between someone taking advantage of a situation, and someone who reaches out and asks for help. I'd be willing to bet most landlords would work something out with tenants if they reached out and described their situation and were reasonable at making an attempt to make things right.

Ironically, these are the same types who say screw the man, we're for the little guys.

They're so short sighted, they don't realize many landlords have a family and a pretty modest background. They buy properties and rent them so when they come to the age of retirement, they can sell the property or continue renting it for passive income.

What gives someone the entitlement they can pass off their woes (which many don't even have right now) to someone else just because they tried their best to do the most with their life?

originally posted by: zosimov

originally posted by: Ksihkehe

originally posted by: zosimov
a reply to: Ksihkehe

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

Some of the renters may have been providing goods/services too prior to being shut down by the same government sending hundreds of billions to banks ¯_(ツ)_/¯

True, and just imagine if their employers had refused to pay them for their labors! It would be fairly reprehensible.

I've been working every day through this. I've gotten my salary cut 10% from start till June. No 401k matching until further notice (this part sucks the most IMO).

I bet I could have just asked to be layed off... And I have the means to not work for a year if it irked me enough.

But instead, when my second job opens back up, I'm going to invest every spare dollar so in a few years I'm not at the mercy of anyone else. I'll decide my own fate, and that's true freedom and liberation.

No one will make things better for you other than yourself. And you can spend your whole life blaming things on other people, but the world was far more metal just a few generations ago.

Our nation, and developed world has become a whole bunch of entitled sissies. Those who lived and strives through the depression are rolling in their grave watching this absolute sh** show.

a reply to: Edumakated

Yup, there is a lot of money to be made on the AirBnB’s right now. I live in a small tourist town. It’s said that half the houses (over 5k of them) are Vacant AirBnB’s.

You cannot let properties just sit for months with no attention. If you’re smart, you’ll pick up what I’m puttin down.

I’m going to start an inexpensive inspection service for the owners.

Think about this, charge $99 per month to show up once per week. Take a short video of the property with notes pertaining to damages / needed repairs, vandalism, squatters, etc.. Send it off to the owners.

This nets you about $25 per visit. Each visit would take roughly 15 minutes. All you need is 100 people to sign up, and that’s $10,000 per month.

All you need to get going is a website, cell phone and a contact list from a local title company of all the non owner occupied properties.

The only reason I’m giving this idea out is because I’m pretty sure no one on here lives where I do. So feel free to steal the idea and use it in your region.

I’m waiting another month to start. By then, I believe the response will be overwhelming.

You’re welcome.

a reply to: KKLOCO

I hope this works out well for you. That's a fair service that I'm sure many owners would be happy to pay for.

Might even work out long term as many owners don't live in the same area. They'd probably be gleeful to have someone reliable check in on it after guests check out and tidy the place up.

originally posted by: Puppylove
Our landlord got rid of late fees. We were late two weeks but are now two months ahead. I doubt we would have paid ahead like that had he been an ass about the situation. So my question is, landlords, what are you doing to work with your tenants. If you can't or won't work with them, why should they work with you?

Ours treats us well, so we do the same.

That's great that you have a good arrangement.

If people chase all the small landlords away, (many said they are just going to sell) there won't be these types of
arrangements, there will be corporate arrangements.

originally posted by: CriticalStinker


No one will make things better for you other than yourself. And you can spend your whole life blaming things on other people, but the world was far more metal just a few generations ago.

Ha ha what an awesome quote man.
All the best on reaching your goals!

a reply to: JAGStorm

I like my landlord, and considering some of the bastards i have come across, he's the last person i would wish to stop paying, as he has to eat and pay the piper just like the rest of us.

originally posted by: KKLOCO
a reply to: Edumakated

Yup, there is a lot of money to be made on the AirBnB’s right now. I live in a small tourist town. It’s said that half the houses (over 5k of them) are Vacant AirBnB’s.

You cannot let properties just sit for months with no attention. If you’re smart, you’ll pick up what I’m puttin down.

I’m going to start an inexpensive inspection service for the owners.

Think about this, charge $99 per month to show up once per week. Take a short video of the property with notes pertaining to damages / needed repairs, vandalism, squatters, etc.. Send it off to the owners.

This nets you about $25 per visit. Each visit would take roughly 15 minutes. All you need is 100 people to sign up, and that’s $10,000 per month.

All you need to get going is a website, cell phone and a contact list from a local title company of all the non owner occupied properties.

The only reason I’m giving this idea out is because I’m pretty sure no one on here lives where I do. So feel free to steal the idea and use it in your region.

I’m waiting another month to start. By then, I believe the response will be overwhelming.

You’re welcome.

My family has a second home on Martha's Vineyard. There are a few housekeepers that do exactly what you are talking about during the off season. Homeowners pay them to check on houses during the winter making sure no burst / frozen pipes, fallen trees, etc. It is a good hustle if you can build the client base and trust worthy.