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And this one is funny:
“Seller Refuses to Leave Home - Overstays a Year”
https://www.youtube.com/watch?v=6-XnKJDqA7c
here come the Chinese buyers...
Fortunately all 3 of my tenants have been paying largely on time. Two on time like clockwork (one that just moved out yesterday), I have it under contract to sell for 40% more than I bought it for a few years ago. One of my tenants has been behind a bit but has been catching up a bit each month and is running only a week late at this point. Quality screening on tenants is crucial for renting. I do not look to max the rent - I like to rent $50 under market, which gives significantly better quality applicants, and also usually provides less turnover.
“Who didn’t see this coming?”
Apparently my BIL and SIL. They are stuck with two rentals that won’t pay and cannot get them out. June 30th look for the moratorium to be extended to Sept 30th.
Sounds like a 5th amendment violation of taking private property for public use without just compensation
The concepts of money, property, rule of law mean nothing to government any longer.
Many politicians do not even identify as socialists, but they are all blind, arrogant central planners.
The idea that landlords should just have to keep housing people for free indefinitely while Syria gets 600m is too much to stomach
A friend of mine manages the maintenance department for a large apartment management company with thousands of units.
They’ve been sending out notices reminding the deadbeats that the free ride will be ending and when it does, every penny they owe will be due immediately or out they go followed immediately by all their stuff.
I tried the landlord game for a short time 25 years ago. We had to evict a deadbeat.
A girl from our Bible Study group got all over my case because I so heartlessly threw this guy out on his butt. I remember trying to explain to her bleeding heart that the guy was a thief and was stealing from me. He deserved to be treated as a thief.
i know we are hot to unload our rental in Virginia.
I don’t want to wait until it all goes south.
A car payment is like rent. Tell them you live in that car at least some of the time and refuse to pay per the state’s orders.
Hi.
If it’s plausible, sell the house/condo/duplex.
The new owners will have no lease, and can evict.
5.56mm
This is easy.
Landlord = 1 vote
Renters = 20 votes
Renters get attention from politicians.
The answer is to divide up your property into small units, perhaps 1 bedroom at a time, and sell them to the renters, converting them into owners. Easy to turn a profit.
The legal term I Tenancy In Common (TIC).
Cheapest way into real estate ownership.
Historical precedent: A round of just that sort of thing happened in NYC in the 1970s with rent control and jacking up property taxes.
By a miracle I sold all 4 of my rentals last spring just as COVID hit. I thought the buyer would back out but he closed.
Now I just buy land.
I really think this is an unconstitutional government taking.
The government can issue a moratorium on evictions, but the government should have to reimburse any lost rents. The government can then try to collect rent from the renter or decide to write it off.
Would be a nightmare to administer and probably some fraud would occur.
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I don’t want a lot of people to be homeless, but these “don’t have to pay rent/mortgage/etc.” supposed “laws”/royal decrees/etc. are the government stealing property owners’ property(s) from the property(s) owners, and making the property owners HOMELESS, etc.
The obvious solution is to ban sales of properties that have tenants, right?
Maybe talk to a bankruptcy lawyer to see if the landlord could file Chapter 11 and reject the leases? Depending on the court and the skill of the tenant’s attorney, it might work. But watch out for Sec. 365 (h)(1)(A)(ii). I wouldn’t want to predict an outcome.