Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Unemployment is a mess, you can’t even get ahold of someone. You have to put in for a “call back” online. My wife hasn’t received a call in over 6 weeks.
A lot of people haven’t even sniffed a payout yet
In that case blame the state. Actually call your local state representative and demand action.
Report from the trenches... so far all tenants are receiving benefits... (CA)
Just spoke to one a few minutes ago... She is a server... With a 15 year old son...
They actually have more coming in now... her weekly benefit unemployment + federal is $997 which would be more than 50k... last year working full time she made 42k. Plus she is also receiving the 500 for her child...
Report from the trenches... so far all tenants are receiving benefits... (CA)
Just spoke to one a few minutes ago... She is a server... With a 15 year old son...
They actually have more coming in now... her weekly benefit unemployment + federal is $997 which would be more than 50k... last year working full time she made 42k. Plus she is also receiving the 500 for her child...
That make no sense. $500 is only one time for Federal stimulus payment. I do not believe California is paying $500 for a child. It seems California is doing much better compare to other states.
That make no sense. $500 is only one time for Federal stimulus payment. I do not believe California is paying $500 for a child. It seems California is doing much better compare to other states.
In NY, my two tenants now get $1145.00 each a week on unemployment...almost $2000.00 more a month than what they usually make. My tenants are good people and would never think of stealing my rental income. The know that my mortgage payments is way more that what they pay in rent.
BTW...principal & interest...$294.00 a month
Taxes and insurance...$1700.00 a month.
So you can see that a motgage forbearance will not help me nor will it help most homeowners in Ny.
Report from the trenches... so far all tenants are receiving benefits... (CA)
Just spoke to one a few minutes ago... She is a server... With a 15 year old son...
They actually have more coming in now... her weekly benefit unemployment + federal is $997 which would be more than 50k... last year working full time she made 42k. Plus she is also receiving the 500 for her child...
Good to hear.
I am interested in hearing about the statistics across the board. I hear some anecdotal stories of people not getting paid unemployment weeks after the fact (and others about people getting paid), but that doesn't really help the conversation much if these are one off cases . . . not that I'm claiming that they are.
In any case, assuming that claims are being delayed to many people, folks should still be relatively whole for the most part when the claims are paid out, as I'd imagine they'd be getting back pay. Thus (and no one is allowed to legally evict during these times), tenants should be able to make up for back rent when the payments are released generally speaking.
I am a die-hard conservative (at least financially). So much so that I'm not really a fan of Donald Trump because I think he's a RINO. I am 100% against socialism in the United States. I am 100% pro-landlord, pro-business owner, pro-make your own way.
With all of that said, the statements I've read here and elsewhere from landlords makes me chuckle a little bit.
a) Landlords always preach that tenants should have 6 months+ savings. Let's be real -- there would be a lot fewer landlords out there making money if this were the case. Also, I think some of the more frantic and angry landlords in this situation are worried because they, themselves, don't actually have 6 months+ in savings. It's very easy to overextend yourself when investing in property.
b) I hate to use such an overused word right now, but the current situations in the US (and around the world) truly is "unprecedented." So many people are and will be affected by this...it most certainly isn't just restaurant and retail store workers. We see right here that real estate investors are seriously impacted, or will be. My main line of work is in online marketing....do you think business is booming for me? Marketing is a quick line item to wipe out of the budget for a company that might lose everything, that doesn't know when they will open, that doesn't know IF they will open. Heck, even healthcare workers -- typically one of the most stable and reliable jobs on the planet -- are being laid off.
c) People keep bringing up all of the free money that their tenants are getting. Newsflash...states all over the country are having SERIOUS unemployment system issues. People have been unemployed for 7 or 8 weeks and still haven't received a payment. The sites don't work, the phone lines don't work. As for the "stimulus checks," they have been a nightmare...a lot of "wrong" people got them (including dead people and foreign workers), and a lot of "qualified" people haven't received them yet. My mom JUST got approved for her unemployment after 7+ weeks. She still only got the amount from the state, though...nothing about the $600/wk from the feds, at least not yet.
d) Other than the most extreme of people, I don't think anyone actually thinks that landlords should be giving FREE rent. From what I understand, the #CancelRent hashtag was SUPPOSED to be in support of Rep. Ilhan Omar's bill, which "cancels" all rent and mortgage payments for a year. If you read the bill, landlords who lose rental income are supposed to ask the federal government for it. Seems like those who are so amped up about tenants getting all of this "free money" from the government would be excited and supportive of this bill, since it would guarantee a year's worth of rent from all of your tenants, without worrying about their late payment issues. But let me guess...you don't find it exciting because you know how government anything works. Bureaucracy sucks, there is always some reason why YOU aren't eligible, there's TONS of paperwork to fill out, there are long lines or long phone call wait times, and it might be months before you get your money...if at all. Revisit my point C.
e) PLEASE stop using the gas station and grocery store analogies. If a customer leaves a grocery store with a cart full of groceries, those groceries no longer belong to the grocery store...they're gone. If a tenant doesn't pay rent for a month, the property doesn't suddenly belong to the tenant...it STILL belongs to the landlord. Same thing with the landlords who are crying about how they still have mortgage payments and property taxes, etc. due. You aren't paying property taxes for your tenants...you are paying property taxes on property that YOU own. You aren't even paying mortgage payments for your tenant. At the end of the day, the property still belongs to YOU, and the bills that you are paying (property taxes, mortgage, etc) are for a property that you do and will continue to own. And if your tenant moved out tomorrow, all of those things would still be due. (Now, I do feel extra sorry for landlords who have to pay utility payments for their tenants right now...ouch.)
f) You aren't the only ones who are losing money or going without income right now. IT SUCKS FOR ALMOST EVERYONE RIGHT NOW. They should have never "shut the country down" in the first place...then, we wouldn't all be in this mess. But they did, and almost all of us are affected in one way or another.
I read the comments on here and the landlords come off as whiny, entitled bullies. In the CARES Act, homeowners got a major deal, as they are allowed to skip payments for up to a year if government-backed mortgages. Every unemployed tenant in the United States could get 12 months of full rent relief.
Tenants need the government payments. The regular unemployment is not enough to pay bills. The CARES act, supplemental unemployment of $600 a week should go for 12 months, not 4.
Re-employment in the worst job market in 90 years will take 6-18 months for the white collar layoffs. The blue collar and service sector layoffs/furloughs have it easier since they'll be immediately called back. The average line cook will be re-employed before the average marketing professional.
#CancelRent
Coronavirus has made me more socialistic. The safety net needs to expand. Unemployment should be extended permanently from 26 weeks to 99 weeks and it should cover 100% of one's previous income. Ideologically, I have been more conservative than liberal over time, but U.S. capitalism (really corporatism and not pure capitalism) has failed my generation (Millennials) twice in a 12 year period.
I am a die-hard conservative (at least financially). So much so that I'm not really a fan of Donald Trump because I think he's a RINO. I am 100% against socialism in the United States. I am 100% pro-landlord, pro-business owner, pro-make your own way.
With all of that said, the statements I've read here and elsewhere from landlords makes me chuckle a little bit.
a) Landlords always preach that tenants should have 6 months+ savings. Let's be real -- there would be a lot fewer landlords out there making money if this were the case. Also, I think some of the more frantic and angry landlords in this situation are worried because they, themselves, don't actually have 6 months+ in savings. It's very easy to overextend yourself when investing in property.
b) I hate to use such an overused word right now, but the current situations in the US (and around the world) truly is "unprecedented." So many people are and will be affected by this...it most certainly isn't just restaurant and retail store workers. We see right here that real estate investors are seriously impacted, or will be. My main line of work is in online marketing....do you think business is booming for me? Marketing is a quick line item to wipe out of the budget for a company that might lose everything, that doesn't know when they will open, that doesn't know IF they will open. Heck, even healthcare workers -- typically one of the most stable and reliable jobs on the planet -- are being laid off.
c) People keep bringing up all of the free money that their tenants are getting. Newsflash...states all over the country are having SERIOUS unemployment system issues. People have been unemployed for 7 or 8 weeks and still haven't received a payment. The sites don't work, the phone lines don't work. As for the "stimulus checks," they have been a nightmare...a lot of "wrong" people got them (including dead people and foreign workers), and a lot of "qualified" people haven't received them yet. My mom JUST got approved for her unemployment after 7+ weeks. She still only got the amount from the state, though...nothing about the $600/wk from the feds, at least not yet.
d) Other than the most extreme of people, I don't think anyone actually thinks that landlords should be giving FREE rent. From what I understand, the #CancelRent hashtag was SUPPOSED to be in support of Rep. Ilhan Omar's bill, which "cancels" all rent and mortgage payments for a year. If you read the bill, landlords who lose rental income are supposed to ask the federal government for it. Seems like those who are so amped up about tenants getting all of this "free money" from the government would be excited and supportive of this bill, since it would guarantee a year's worth of rent from all of your tenants, without worrying about their late payment issues. But let me guess...you don't find it exciting because you know how government anything works. Bureaucracy sucks, there is always some reason why YOU aren't eligible, there's TONS of paperwork to fill out, there are long lines or long phone call wait times, and it might be months before you get your money...if at all. Revisit my point C.
e) PLEASE stop using the gas station and grocery store analogies. If a customer leaves a grocery store with a cart full of groceries, those groceries no longer belong to the grocery store...they're gone. If a tenant doesn't pay rent for a month, the property doesn't suddenly belong to the tenant...it STILL belongs to the landlord. Same thing with the landlords who are crying about how they still have mortgage payments and property taxes, etc. due. You aren't paying property taxes for your tenants...you are paying property taxes on property that YOU own. You aren't even paying mortgage payments for your tenant. At the end of the day, the property still belongs to YOU, and the bills that you are paying (property taxes, mortgage, etc) are for a property that you do and will continue to own. And if your tenant moved out tomorrow, all of those things would still be due. (Now, I do feel extra sorry for landlords who have to pay utility payments for their tenants right now...ouch.)
f) You aren't the only ones who are losing money or going without income right now. IT SUCKS FOR ALMOST EVERYONE RIGHT NOW. They should have never "shut the country down" in the first place...then, we wouldn't all be in this mess. But they did, and almost all of us are affected in one way or another.
plus you have those who like to throw out the 2400 couples got to cover the rent . but landlords got the same money to offset their expected losses too from the loss of income from tenants not paying .
a) Landlords always preach that tenants should have 6 months+ savings. Let's be real -- there would be a lot fewer landlords out there making money if this were the case. Also, I think some of the more frantic and angry landlords in this situation are worried because they, themselves, don't actually have 6 months+ in savings. It's very easy to overextend yourself when investing in property.
True and hilarious. A lot of the smaller landlords, who are the vocal ones on here are likely not in great financial shape. I rent from a corporate entity. They are just bigger bullies than the whiny, entitled ones on here.
Quote:
Originally Posted by lkmax
b) I hate to use such an overused word right now, but the current situations in the US (and around the world) truly is "unprecedented." So many people are and will be affected by this...it most certainly isn't just restaurant and retail store workers. We see right here that real estate investors are seriously impacted, or will be. My main line of work is in online marketing....do you think business is booming for me? Marketing is a quick line item to wipe out of the budget for a company that might lose everything, that doesn't know when they will open, that doesn't know IF they will open. Heck, even healthcare workers -- typically one of the most stable and reliable jobs on the planet -- are being laid off.
It is astounded that even some healthcare workers are getting laid off right now.
As for marketing, I have heard that Google is laying off because they are collecting less ad dollars. If marketers are cutting Google spend, that's big. Google spend is seen as an inexpensive alternative to television.
Decades of recessions have taught us that cutting marketing spend is the worst thing to do in a recession. However, at every downturn, almost every business cuts their marketing/advertising spend.
The ad agencies are getting killed in this. Even the top tier ad agencies (ones owned by the Top 5 holding companies like Publicis, Omnicom, etc) are laying off. The small agencies were laying off before the WHO even declared it in a pandemic on March 11. It takes almost nothing for an ad agency to lay off, even in good times. When one or two clients have budget problems and cut budget, that's when ad agencies lay off.
Internal, corporate marketers are not doing well either.
Quote:
Originally Posted by lkmax
c) People keep bringing up all of the free money that their tenants are getting. Newsflash...states all over the country are having SERIOUS unemployment system issues. People have been unemployed for 7 or 8 weeks and still haven't received a payment. The sites don't work, the phone lines don't work. As for the "stimulus checks," they have been a nightmare...a lot of "wrong" people got them (including dead people and foreign workers), and a lot of "qualified" people haven't received them yet. My mom JUST got approved for her unemployment after 7+ weeks. She still only got the amount from the state, though...nothing about the $600/wk from the feds, at least not yet.
Everyone that I personally know who is unemployed got their checks already. However, this is not surprising.
Quote:
Originally Posted by lkmax
d) Other than the most extreme of people, I don't think anyone actually thinks that landlords should be giving FREE rent. From what I understand, the #CancelRent hashtag was SUPPOSED to be in support of Rep. Ilhan Omar's bill, which "cancels" all rent and mortgage payments for a year. If you read the bill, landlords who lose rental income are supposed to ask the federal government for it. Seems like those who are so amped up about tenants getting all of this "free money" from the government would be excited and supportive of this bill, since it would guarantee a year's worth of rent from all of your tenants, without worrying about their late payment issues. But let me guess...you don't find it exciting because you know how government anything works. Bureaucracy sucks, there is always some reason why YOU aren't eligible, there's TONS of paperwork to fill out, there are long lines or long phone call wait times, and it might be months before you get your money...if at all. Revisit my point C.
Landlords should be supporting the Rep. Omar bill. Agree completely. Maybe the landlords would stop whining if the government made them whole.
Quote:
Originally Posted by lkmax
e) PLEASE stop using the gas station and grocery store analogies. If a customer leaves a grocery store with a cart full of groceries, those groceries no longer belong to the grocery store...they're gone. If a tenant doesn't pay rent for a month, the property doesn't suddenly belong to the tenant...it STILL belongs to the landlord. Same thing with the landlords who are crying about how they still have mortgage payments and property taxes, etc. due. You aren't paying property taxes for your tenants...you are paying property taxes on property that YOU own. You aren't even paying mortgage payments for your tenant. At the end of the day, the property still belongs to YOU, and the bills that you are paying (property taxes, mortgage, etc) are for a property that you do and will continue to own. And if your tenant moved out tomorrow, all of those things would still be due. (Now, I do feel extra sorry for landlords who have to pay utility payments for their tenants right now...ouch.)
f) You aren't the only ones who are losing money or going without income right now. IT SUCKS FOR ALMOST EVERYONE RIGHT NOW. They should have never "shut the country down" in the first place...then, we wouldn't all be in this mess. But they did, and almost all of us are affected in one way or another.
Agree completely. On the whole, the tenants are worse off than the landlords. Tenants are the ones who have to interview for new jobs right now, not landlords. Tenants are the ones who should be receiving rent relief subsidies in addition to unemployment.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
