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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by looker009
Do not pay it. I am pretty sure that millions of people will be defaulting on their property taxes this year
WA penalties on unpaid property taxes are substantial + interest due. (1st half due April 30th= $15,500 due from me)
All "retired renters" have paid in full.
Families who chose to be unemployed since Nov do not have COVID reason, but they really like the Gov idea "don't pay your rent). Eviction courts are closed through 29 July when they will have a 4 month backlog.
Renters are loving this.... But...
It will result in substantially higher rents in future.
The Federal Government pushing off rents was unnecessary license for renters to steal. (Yes it costs landlords substantial capital to keep the tenant's doors open). When the government gets involved with anything... costs skyrocket and services diminish. And 'free market' rates and benefits get destroyed.
I'm sincerely sorry that you find it offensive. Ignorant though. Nope. Was a landlord just like you with 7 years of overseeing the lovely property.
I know that as a one unit lease it's easier to have a mutual regard. But I ask you to step back and take your landlord hat off and put on and walk in the shoes of the tenant. None of us wanted this pandemic to bring us to this beggars level of pleading for some leniency in rent. Our shelter (rental unit)is necessary to not spread this virus.
I'd encourage you to take advantage of the rental tax breaks that are on local/state levels. Heck depreciation is still allowed last I recall. Are you saying that is no longer an option? Anytime I made improvements..new windows or weatherizing...could be written off. Maybe I'm misunderstanding your side. Or you have a tax advisors that isn't given you all the breaks. You wouldn't be a landlord out of the goodness of your heart...it's a profit driven equity. And as you stated, in an indirect way...your giving no relief to your lessee. Seems they are helping you.
Undercapitalization is common as is negative cash flow... with the carrot being appreciation.
WA penalties on unpaid property taxes are substantial + interest due. (1st half due April 30th= $15,500 due from me)
All "retired renters" have paid in full.
Families who chose to be unemployed since Nov do not have COVID reason, but they really like the Gov idea "don't pay your rent). Eviction courts are closed through 29 July when they will have a 4 month backlog.
Renters are loving this.... But...
It will result in substantially higher rents in future.
The Federal Government pushing off rents was unnecessary license for renters to steal. (Yes it costs landlords substantial capital to keep the tenant's doors open). When the government gets involved with anything... costs skyrocket and services diminish. And 'free market' rates and benefits get destroyed.
You will be able to request waver as result of this virus. I will be shocked if government will deny it.
Living in a house and owning a house are two seperate things. Being a broker is common and irrelevant.
I own a house and pay mortgage on it. Being a broker means i understand how real estate works especially being it's higher license which gives me authority to supervise employees.
I'm sincerely sorry that you find it offensive. Ignorant though. Nope. Was a landlord just like you with 7 years of overseeing the lovely property.
I know that as a one unit lease it's easier to have a mutual regard. But I ask you to step back and take your landlord hat off and put on and walk in the shoes of the tenant. None of us wanted this pandemic to bring us to this beggars level of pleading for some leniency in rent. Our shelter (rental unit)is necessary to not spread this virus.
I'd encourage you to take advantage of the rental tax breaks that are on local/state levels. Heck depreciation is still allowed last I recall. Are you saying that is no longer an option? Anytime I made improvements..new windows or weatherizing...could be written off. Maybe I'm misunderstanding your side. Or you have a tax advisors that isn't given you all the breaks. You wouldn't be a landlord out of the goodness of your heart...it's a profit driven equity. And as you stated, in an indirect way...your giving no relief to your lessee. Seems they are helping you.
Yes I think you should look at it from as a tenant. First for them this was foreseeable and a normal risk. No different then normal risk in life for them. Like losing a job and the income. This is something they even teach in high school. Be responsible and plan for these very common risk and have 6 to 8 months of income for living expenses. Since it is a common risk you save or pay when you gamble. Dont make enough. Live with 4 roommates in a two bedroom or tent until you do. Not fair a landlord should pay for their gamble.
Then add in with this vase most lower income may have even more than when working. With the stimulus unemployment income.
And if you want to give free housing fine. Dont make a select few like LL pay for it. All taxpayers should.
And a lot of tenants will blow this money and still not learn. Run up a high balance with their landlord. And then skip out when their is a eviction. Most Americans have poor credit so they dont mind if they do have a judgement against them. Then you will have the ones that just file bankruptcy. So make more money and minus rent their expenses are 50% less.
Then you have small LL and their retirement income is from profits from a rental property. Instead of more they lose all income. And unlike tenants this was not foreseen, taught in high school or a normal risk.
Any normal risk to that income. They could evict. Then get a new tenant or get the property ready for sale.
So who could have foreseen a problem like this more? Tenants or LL. Who chose to ignore common financial advice and take a gamble?
Yes I think you should look at it from as a tenant. First for them this was foreseeable and a normal risk. No different then normal risk in life for them. Like losing a job and the income. This is something they even teach in high school. Be responsible and plan for these very common risk and have 6 to 8 months of income for living expenses. Since it is a common risk you save or pay when you gamble. Dont make enough. Live with 4 roommates in a two bedroom or tent until you do. Not fair a landlord should pay for their gamble.
Then add in with this vase most lower income may have even more than when working. With the stimulus unemployment income.
And if you want to give free housing fine. Dont make a select few like LL pay for it. All taxpayers should.
And a lot of tenants will blow this money and still not learn. Run up a high balance with their landlord. And then skip out when their is a eviction. Most Americans have poor credit so they dont mind if they do have a judgement against them. Then you will have the ones that just file bankruptcy. So make more money and minus rent their expenses are 50% less.
Then you have small LL and their retirement income is from profits from a rental property. Instead of more they lose all income. And unlike tenants this was not foreseen, taught in high school or a normal risk.
Any normal risk to that income. They could evict. Then get a new tenant or get the property ready for sale.
So who could have foreseen a problem like this more? Tenants or LL. Who chose to ignore common financial advice and take a gamble?
The risk is on everyone. If a landlord doesn’t have “emergency funds” which is talked about constantly in these forums pertaining to tenants not having them, they are just as bad as said tenants. It’s no different.
The risk is on everyone. If a landlord doesn’t have “emergency funds” which is talked about constantly in these forums pertaining to tenants not having them, they are just as bad as said tenants. It’s no different.
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Even if the LL has the funds, that still doesn't entitle the tenants to stay for free. The contract is for the tenant to pay for housing, not the landlord provide it for free. The LL's emergency funds are to cover the period between tenants while the place is being readied for the next tenant, replacing appliances, carpet, and all the damage that a few tenants manage to leave behind.
Even if the LL has the funds, that still doesn't entitle the tenants to stay for free. The contract is for the tenant to pay for housing, not the landlord provide it for free. The LL's emergency funds are to cover the period between tenants while the place is being readied for the next tenant, replacing appliances, carpet, and all the damage that a few tenants manage to leave behind.
as a landlord myself i can tell you that these kinds of things are no different than stock market drops are for investors ...there are always black swan events that can produce negative return years . no one is ever guaranteed a profit year after year ... in markets we have market returns , rates and inflation to contend with . in landlording we have repairs and tenant situations to deal with
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