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even The puppet president admits that it’s unconstitutional what he’s doing to you Landlords. And the left had the gall to call Trump a dictator. Anyways to the landlords out there do you think you’ll be able to pay your property taxes, mortgage, creditors..etc
Biden new eviction freeze, admits likely unconstitutional
I will. I am also selling whenever anything becomes vacant. I feel terrible about that because my area has a huge shortage of rental homes/apartments and everything is very highly priced now. But really, when any protections you have under the law are no longer enforced it would be financial suicide to take the risk any longer.
My existing tenants have shown what kind of people they are. I have no desire to take on such risk with new, unknown and unproven tenants in the future. I haven’t suffered any losses caused by non-paying tenants. But I am beyond appalled by this gross government overreach and failure to do their jobs.
This is a good opportunity for large companies to start buying up single family homes and just hold on to them for a few years while most people have got out of the landlord business. Then magically laws will become enforceable again and these large companies who are mostly controlled by politically connected people whether on their board of directors or in leadership positions will own a significant stock of housing and then they can charge whatever they want for rent and there will be nothing that the average person can do about it and they will continue to enrich themselves. Don't you love these public/private partnerships?
Also I wouldn't be surprised if there are subsidies for landlords in the future to help diversify neighborhoods.
The federal government made funds available for rent payments. The states dole it out, or not.
My state has only used 10% of that money.
Huge investors are buying up all that comes on the market. One person's firm has bought 1/4 of the houses sold in Houston.
Yesterday's Chronicle did a story about a firm spending 15 billion in Texas paying cash for 150000 houses. One of their investors is a State of Texas pension fund.
That whole deal looks incestuous to me.
The landlords are getting as screwed as the taxpayers. And who pays for this kind of help?
We will survive it but it has left a very bad taste in my mouth that I may never get over. The government assistance by the way, at least in the two places we have tenants in arrears, expect you to agree to take 60 cents on the dollar. We aren’t doing it. We are working with the one family, they paid something all along, communicated with the property manager when it started being an issue, and have promised to eventually pay it back. They ran into childcare issues because of school closings. I honestly feel bad for them. I can live with slowly getting paid back, we can afford to give them the time, and will waive all late fees as long as they keep trying to do the right thing. The other... grr..... he’s on the curb the minute we are allowed to do it. Between the two so far we are out around 20 grand. Had this occurred earlier in our lives it would have sunk us.
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even The puppet president admits that it’s unconstitutional what he’s doing to you Landlords. And the left had the gall to call Trump a dictator. Anyways to the landlords out there do you think you’ll be able to pay your property taxes, mortgage, creditors..etc
Biden new eviction freeze, admits likely unconstitutional
Professional landlord here. I have a rental business. Yes, the moratorium kinda hurt a little but then I very quickly figured out how to turned a profit from it. Almost doubled my earnings during the pandemic. And no, we never got any assistance from either of the stimulus package.
Cannot speak for other landlords, but the new Biden moratorium will not affect us any. Still glad Joe beat Donny.
I was caught up in the eviction moratorium last year.
I filed for eviction on non-paying tenant (pre-pandemic) and several days before the court date, the original moratorium came into play and everything got kicked down the road.
I was finally able to get them out October 31 - but that was only by reducing the amount they owed me via a judgement by half. I was actually prepared to pay THEM to gtfo.
That unit was my only real problem during the last year - but it could've been much worse: we sold one of our properties the two years prior that for certain would've had the entire building not pay rent. Those losses taking into account rental loss and property taxes, insurance, and landlord paid utilities would've been north of $150,000. (And I think I'm most likely underestimating and not including typical wear and tear and repairs.)
That's the first time I did that math ^. I'm counting my lucky stars right now.
I was caught up in the eviction moratorium last year.
I filed for eviction on non-paying tenant (pre-pandemic) and several days before the court date, the original moratorium came into play and everything got kicked down the road.
I was finally able to get them out October 31 - but that was only by reducing the amount they owed me via a judgement by half. I was actually prepared to pay THEM to gtfo.
That unit was my only real problem during the last year - but it could've been much worse: we sold one of our properties the two years prior that for certain would've had the entire building not pay rent. Those losses taking into account rental loss and property taxes, insurance, and landlord paid utilities would've been north of $150,000. (And I think I'm most likely underestimating and not including typical wear and tear and repairs.)
That's the first time I did that math ^. I'm counting my lucky stars right now.
Ouch...... my ~$20K is pretty small potatoes.
__________________
When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.
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