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^^^^ This is ridiculous. Being a landlord is a business arrangement, not a charity.
Landlords are not obligated to support tenants. When a landlord and tenant enter into a rental agreement, they are in business with each other. Each has an obligation to the other. Why should the landlord be forced to let the tenant live for free? It’s not the landlord’s problem if the tenants lose their jobs.
If the government doesn’t want hordes of homeless on the streets, they should pay the landlords the rents—at least 75% of it. I feel so sorry for the smaller landlords.
^^^^ This is ridiculous. Being a landlord is a business arrangement, not a charity.
Landlords are not obligated to support tenants. When a landlord and tenant enter into a rental agreement, they are in business with each other. Each has an obligation to the other. Why should the landlord be forced to let the tenant live for free? It’s not the landlord’s problem if the tenants lose their jobs.
If the government doesn’t want hordes of homeless on the streets, they should pay the landlords the rents—at least 75% of it. I feel so sorry for the smaller landlords.
You're late to the thread. I suggest you re-read it thoroughly, and in its entirety, and come back.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
I wouldn’t be a landlord again for nothing …we sold out over the last 15 years and it is nuts being a landlord in this state …it is so pro tenant ……
The federal govt didn’t help matters either with their mandates .
There are to many easier ways to invest than to tolerate this crap
Any serious landlord knows about landlord insurance and rent default riders
I'm not sure what this post has to do with the link I posted. I don't feel any way about not being sure what you mean either, because I'm not a LL. Please explain.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
When you own rentals you need special landlord insurance not typical homeowners …..that insurance aside from only protecting the structure and not the contents does very specific things .
For one thing it breaks the link between your tenants being household members and covered under your policy .
Have a tenant committed vandalism ,arson or steal from you and it is an insurance job under regulation homeowners since they are covered the same as you .
You can add rent default insurance riders to your policy too ..the insurance company will cover a tenant that stiffs you ..but that kind of insurance is very costly .
You should not be buying a property that you can't cover the bills for yourself precisely for instances like this
Especially for a 3 family bldg that is owner occupied
I own a decent amount of rentals. They key is not to own in NY, CA or other tenant friendly states. I have done 4 evictions all cost me under $300 and took 3 weeks in Florida except for the covid one.
I had a tenant during the ban in Florida tell me I'm not paying you I don't have to. I said great your lease is up in a month better find a new place. 2.5 months total (covid BS) Got him evicted and due to the migration to Florida and escalating prices I painted the place put in a 3k kitchen and some used stainless steel appliances and jacked the rent from $1800 to $2750! If this was in NY this degenerate would of lived in my place for 18 months free all while I was paying $800 a month to the bank. Im not the gov, I provide housing for profit not to be nice.
Landlords shouldn't have to worry about covering bills if NY allowed evictions it wouldn't be an issue as non payers would be out in a month.
I own a decent amount of rentals. They key is not to own in NY, CA or other tenant friendly states. I have done 4 evictions all cost me under $300 and took 3 weeks in Florida except for the covid one.
I had a tenant during the ban in Florida tell me I'm not paying you I don't have to. I said great your lease is up in a month better find a new place. 2.5 months total (covid BS) Got him evicted and due to the migration to Florida and escalating prices I painted the place put in a 3k kitchen and some used stainless steel appliances and jacked the rent from $1800 to $2750! If this was in NY this degenerate would of lived in my place for 18 months free all while I was paying $800 a month to the bank. Im not the gov, I provide housing for profit not to be nice.
Landlords shouldn't have to worry about covering bills if NY allowed evictions it wouldn't be an issue as non payers would be out in a month.
Would you live in the same mortgaged building as your tenants? Most LLs crying in NYC are doing precisely this. And these aren't rent stabilized units we're talking about, the building has to have at least six units to fall under rent stabilized guidelines.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
the insurance company will cover a tenant that stiffs you ..but that kind of insurance is very costly .
Costly? As opposed to not getting any rent at all? Well that seems just dandy to sit back and pray every month and hope the tenant pays.
Can you provide an approx. number figure so that we can have a better understanding of how much more costly it is, or do you not have this information?
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
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