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Updated almost 5 years ago,
Sorry California Multifamily owners (I'd be panicking)
I don't panic often, but if I was a LL in California I'd be freaking out. I've said in the past I invest in Houston because I don't fear hurricanes or floods. I only fear what the government may decide to do to me. So I want to invest where I have less chance of the government smashing my face.
No evictions until 90 days *AFTER* this is over? Tenants could literally squeeze half a year of rent before you can get them out.
"Empowered by Governor Gavin Newsom with expanded emergency authority, the Judicial Council of California voted at its emergency meeting to suspend all unlawful detainer actions until 90 days after California’s COVID-19 State of Emergency ends or until the Judicial Council rules are amended or repealed. The only exceptions are cases where public health or safety is involved."
How can they tell people (with a wink/nod) that rent doesn't have to be paid, yet have no plans to help the people who have bills to pay FROM that rent? If the government wants to help make sure people are not evicted, come up with a plan that helps them pay rent. Otherwise you just shift the pain from one person to another.
I guess they assume if they tell a 30 unit building "no rent!", they gain 30 votes (tenant) and lose only one (LL)