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Updated over 2 years ago, 07/10/2022
Non renewal to Sec 8 tenant
One of tenants who is on Sec 8 got the non renewal letter today in the mail annnnd as expected, she threw a fit and blame us investors for "buying everything up and kicking us out". Now alittle back story I purchased this duplex with tenants in them that have been paying at least 35% below market in rent so unfortunately I can't afford to keep them. Their lease expires in October which now gives them more than 2 months to find something AND I gave them the option if they found something before then, I'll gladly allow them to break their lease to move. Just makes me feel uneasy alittle thinking that someone feels like I'm making it personal. Just a little venting....
Any recent stories with you guys?
I’ve run in to a very similar situation. If you know this isn’t personal and that you would work with them if you could, then I wouldn’t lose sleep over it. Unfortunately section 8 doesn’t always pay market rent and that is not your fault. You’ve made amply accommodations for them. That said, I empathize with their position. Many landlords won’t accept vouchers even if the amount is sufficient.
Quote from @James York:
I’ve run in to a very similar situation. If you know this isn’t personal and that you would work with them if you could, then I wouldn’t lose sleep over it. Unfortunately section 8 doesn’t always pay market rent and that is not your fault. You’ve made amply accommodations for them. That said, I empathize with their position. Many landlords won’t accept vouchers even if the amount is sufficient.
In my opinion vouchers seem like the most stable forms of rent so yeah I agree completely.
- Real Estate Broker
- Cody, WY
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Quote from @Mo Maktari:
One of tenants who is on Sec 8 got the non renewal letter today in the mail annnnd as expected, she threw a fit and blame us investors for "buying everything up and kicking us out". Now alittle back story I purchased this duplex with tenants in them that have been paying at least 35% below market in rent so unfortunately I can't afford to keep them. Their lease expires in October which now gives them more than 2 months to find something AND I gave them the option if they found something before then, I'll gladly allow them to break their lease to move. Just makes me feel uneasy alittle thinking that someone feels like I'm making it personal. Just a little venting....
Any recent stories with you guys?
It's life. I'm not happy that gas is 2.5x higher than it was two years ago, but I don't stand at the gas station screaming at the lady behind the counter who's trying to support two kids. Individual Landlords don't control the market; we just offer our product at what market supports.
Maybe if she spent that energy on pursuing a better job...
- Nathan Gesner
"You bad landlords that are trying to kick everyone out" and us that are not putting the effort to better ours lives in terms of developing and learning new skills to contribute in the market and getting paid for it. "You bad landlords" and us that have gotten used to socialist programs that are paid for by taxing the very same landlords.
You should not loose sleep over it if you run it as a business. Your business is selling a product that is 35% cheaper than your competitors for no reason.
@Nathan Gesner said it very clearly with his post.
Quote from @Galen Ikonomov:
"You bad landlords that are trying to kick everyone out" and us that are not putting the effort to better ours lives in terms of developing and learning new skills to contribute in the market and getting paid for it. "You bad landlords" and us that have gotten used to socialist programs that are paid for by taxing the very same landlords.
You should not loose sleep over it if you run it as a business. Your business is selling a product that is 35% cheaper than your competitors for no reason.
@Nathan Gesner said it very clearly with his post.
Not that you should keep them, but you could ask the local housing authority to raise the rent, mine just requires a simple form.
*clap clap clap clap*
A much maligned group, we saw the double standard during the pandemic: "you businesses stay open and continue to provide your services even if your customers are not paying you" and it continues with the inflation-based rent increases we are forced to levy today in order to stay solvent.
Quote from @Michael P.:
Quote from @Galen Ikonomov:
"You bad landlords that are trying to kick everyone out" and us that are not putting the effort to better ours lives in terms of developing and learning new skills to contribute in the market and getting paid for it. "You bad landlords" and us that have gotten used to socialist programs that are paid for by taxing the very same landlords.
You should not loose sleep over it if you run it as a business. Your business is selling a product that is 35% cheaper than your competitors for no reason.
@Nathan Gesner said it very clearly with his post.
Not that you should keep them, but you could ask the local housing authority to raise the rent, mine just requires a simple form.
@Michael P. many limit the increase to 2% which in today’s market will lead to disaster even if you’re at market price now. I’ve expressed this concern to my housing office and told my tenants they should advocate for themselves and tell the housing office they need to reconsider the policy. No private landlord should be stuck between evicting a decent tenant and accepting below market rent because the system doesn’t keep up with rent growth.
Quote from @Michael P.:
Quote from @Galen Ikonomov:
"You bad landlords that are trying to kick everyone out" and us that are not putting the effort to better ours lives in terms of developing and learning new skills to contribute in the market and getting paid for it. "You bad landlords" and us that have gotten used to socialist programs that are paid for by taxing the very same landlords.
You should not loose sleep over it if you run it as a business. Your business is selling a product that is 35% cheaper than your competitors for no reason.
@Nathan Gesner said it very clearly with his post.
Not that you should keep them, but you could ask the local housing authority to raise the rent, mine just requires a simple form.
The tenant is on a fixed income and can't afford to stay to match even alittle inflation. Sucks but it is what it is.