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Old 05-04-2021, 11:58 AM
 
Location: Lone Mountain
315 posts, read 127,646 times
Reputation: 441

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Quote:
Originally Posted by Dom Cobb View Post
It’s unfortunate for that landlord, but if he was so leveraged to buy all of those properties and could not pull equity out, apply for a PPP loan ect, that he could not maintain his portfolio makes him partially culpable for his plight. He bought that house a long time ago and should have little to no mortgage on it, so I’m guessing that he’s leveraged to the max.

Yes, it’s a shame that the tenant is refusing to pay rent. But, that’s the risk you run when your a landlord for lower income renters. There needs to be a way to make the landlord partially whole here but like any business he’s assumed some risk.
I think you're missing the point. Tenants got a pass with no evictions etc as well as
checks for unemployment yet the landlord still has his same bills. You're also incorrectly
assuming that he is rending to lower income renters. There is plenty of the middle
class that also lost jobs during COVID...it wasn't restricted to just lower income and
service industry workers.
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Old 05-04-2021, 12:03 PM
 
5,684 posts, read 10,048,143 times
Reputation: 5093
I don't buy the premise of that many "small landlords" as sold by this story. Most people that they seem to be getting at are people who just rent out prior residences. I do that and a lot of my friends do the same. Most of us are still on standard residential mortgages that we could have gotten a forbearance on if it was necessary. A few friends did do a refi along the way to take some cash out, but usually only after a rehab so it wasn't like they maxed out their loan capacity. For all the talk about high-level real estate investing by some, this method is the easiest and usually surest way to make some wealth out of real estate. But its not without lean years at the start and some hairy moments along the way with bad tenants, vacancies and repairs to deal with.

I'm sure there are a small number of people who are in tough times collecting rent because they did build up a portfolio of houses and multi-units to rent to lower income people. While these times are harder than most for them, these are always a challenge and why some landlords despite their initial instinct will take Section 8 for their lower end rentals. But to characterize these people as large in number seems very sensationalized.
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Old 05-04-2021, 02:18 PM
 
220 posts, read 97,404 times
Reputation: 475
Quote:
Originally Posted by Mariza160 View Post
I think you're missing the point. Tenants got a pass with no evictions etc as well as
checks for unemployment yet the landlord still has his same bills. You're also incorrectly
assuming that he is rending to lower income renters. There is plenty of the middle
class that also lost jobs during COVID...it wasn't restricted to just lower income and
service industry workers.
Did you read the article? It’s in upstate NY, in Schenectady - a rust belt town where median household income is 30k. He even talked about renting to lower income people. The dude lost his job working at a kitchen, which is why he stopped paying rent. Yes, lots of people, even high income white collar earners (people I know) lost jobs - not sure what your point is at it related to the article.

Again, the landlord not a good example as clearly he could have done some things to limit his risk and taken advantage of mortgage forgiveness/forbearance.

The notion that this landlord or others like him ( or even large companies like airlines, or hotels) should get a free pass and bailed out creates more risk and a moral hazard. It’s basically saying, they should benefit from all risk with keeping all profit but when risk creates income shortfalls they should automatically be made whole? I like that game of heads I win tales you lose.
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Old 05-04-2021, 07:40 PM
 
Location: Irvine, CA
332 posts, read 191,218 times
Reputation: 955
Quote:
Originally Posted by RationalExpectations View Post
What do you use instead? (I'm neither a landlord nor a renter, but I'm just curious).
I use Zillow only. I think they have the most rental listings (no duplicates) and are the most current because when the property is gone most come down pretty timely. There's also no way to spam so that's not an issue, and scammers are few because Zillow does basic screening. I have found my last two places on Zillow so it seems to work pretty well for me...
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Old 05-05-2021, 01:25 PM
 
Location: Southern Highlands
2,218 posts, read 1,408,044 times
Reputation: 1938
Finally, as expected: http://https://www.documentcloud.org...8579-show_temp


Ordered that the nationwide eviction moratorium issued by the Centers for Disease Control and Prevention, and currently in effect at 86 Fed. Reg. 16,731, is VACATED.


Quote:
"The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not."
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Old 05-05-2021, 07:15 PM
 
Location: Las Vegas (Winchester)
776 posts, read 499,161 times
Reputation: 960
https://www.msn.com/en-us/news/us/a-...cid=uxbndlbing
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Old 05-06-2021, 08:13 AM
 
902 posts, read 377,943 times
Reputation: 1064
Quote:
Originally Posted by Cold Warrior View Post
Finally, as expected: http://https://www.documentcloud.org...8579-show_temp


Ordered that the nationwide eviction moratorium issued by the Centers for Disease Control and Prevention, and currently in effect at 86 Fed. Reg. 16,731, is VACATED.


I imagine state and municipal eviction moratoriums will remain in place though!?
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Old 05-06-2021, 09:25 AM
 
1,295 posts, read 1,596,844 times
Reputation: 2457
Quote:
Originally Posted by longviewJoe View Post
I imagine state and municipal eviction moratoriums will remain in place though!?
Most of them are due to expire shortly anyway. The free ride is almost over.
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Old 05-08-2021, 06:22 PM
 
9,397 posts, read 3,135,093 times
Reputation: 16537
Quote:
Originally Posted by longviewJoe View Post
I imagine state and municipal eviction moratoriums will remain in place though!?
The order only effects the CDC's over-reach. The original legal theory allowing the CDC to impose a moratorium was the idea that some evicted people might cross state lines to go live with friends or relatives elsewhere, potentially taking the virus with them across state lines.

Now that pretty much anyone can get a vaccine anywhere, anytime, the CDC's foundational argument about the interstate spread of the virus is weak at best.

States & municipalities have police powers that do not depend on the CDC or on interstate transmission of the virus. Thus, state and municipal orders are not part of the court's order. The court could not use the same logic - a lawsuit would have to have other merits.
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Old Yesterday, 12:07 PM
 
Location: Las Vegas, NV
252 posts, read 344,889 times
Reputation: 306
Default Rentometer

Complete info's not free anymore but it does give averages/percentiles.

https://www.rentometer.com/
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