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Updated over 2 years ago on . Most recent reply

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David J.
  • Investor
  • shawnee oklahoma
148
Votes |
194
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Unfair madness! Landlords getting hosed.

David J.
  • Investor
  • shawnee oklahoma
Posted

Some Perspective... 0.15%

That's the percent of American people who have Covid-19 at the time of this writing.  NOT even 1% of the total population.

Suppose the disease were to quadruple before this is over, that would only be 0.6%. Still not even 1%

I am not saying the Covid-19 pandemic is not serious. It is serious! But bear with me, I'm going somewhere here.

Percent of tenants with eviction protection 100%

Specifically in California landlords have been totally neutered.

THIS IS NOT RIGHT, THIS IS NOT FAIR!

Private citizens should not be compelled by law to provide free housing at their own detriment. As a landlord for 20+ years this is the most backwards and un-American situation I have ever seen. What good are constitutional protections, checks and balances if they only serve us when convenient? We need our rights, and freedom most when times are difficult. Where is the ACLU?

Do I think a tenant who has suffered a hardship outside of their control should be thrown out into the street? No of course not. But, 99.9% of landlords will do everything in their power to work with a tenant ALREADY, if for no other reason because they don't want to pay for turnover and vacancy.

I think some responsible laws could be put in place that prohibit abusive landlords from unfair evictions and also require landlords to work with tenants, but the current situation is totally 1 sided and unfair!

Consider, if a tenant loses their job they have options. They can apply for aid, they can look for an online job. They could take a temp position at a grocery store if they like. However, if a landlord has a tenant who can't (or wont') pay rent they can ask for rent and hope for cooperation but can do nothing beyond that to improve their situation.

This absurd! Is anyone thinking this through? How can this possibly not end badly? Allow me to list some problems.

  1. If a tenant hears they "don't have to pay rent", many will simply push it as far as they can regardless of their actual ability to pay or not pay. Why not cease the moment? Wouldn't you?
  2. If a landlord does put a 3 days or quit notice and the tenant doesn't comply. Normal law states that the landlord can not collect anymore rent AFTER the 3 days are up, or the 3 day pay or quit notice is invalid. Does this mean landlords should just allow the tenant to live free till September or until (heaven only knows) when they are able to evict? Does letting a tenant free load till September seem like a good idea?
  3. Most landlords would agree that tenants who get behind really land themselves in a circle of debt they can't climb out of anyway. Thinking a repayment plan with landlords can work is basically fiction. AKA nonsense.
  4. How long till landlords start getting stretched too thin and start taking matters into their own hands? Anything is possible, Violence, fake insurance claims etc? That is a scary outcome that I don't want to even think about. (Please nobody do this)
  5. How long till landlords get fed up and say screw it and just let the bank have the property back?
  6. How long till word gets out about how landlords are being treated and many future (would be landlords) say, no thank you? How many current landlords will just get out of the game. (never want to take that risk again)

TL:DR; This is a disaster and I don't even know what to do anymore.

PS: I do have abusive tenants who are purposely leveraging the situation and not paying simply because they don't have to.

Most Popular Reply

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,942
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Originally posted by @David J.:

@Jay Hinrichs Simply because it's not a problem for you or 90% of others does not mean it's not a valid problem. Landlords are being denied their civil liberties and property rights. The implications of this are huge! 
Also restaurants and hotels all each have their own arguments to wage but it's apples to oranges. At least restaurants can do take out, and hotels can claim insurance or sell their space to the government as a make shift hospital. But I maintain this is out of scope for my point. Regardless, how unfair it is for them, it doesn't suddenly make this fair for landlords. Landlords should NOT be denied their rights!

@Amer Mallah I agree about not making projections. Only casting some perspective. We have a whole lot of fear and irrational thinking taking place. I sure hope we see some changes. We need solutions that protect tenants without allowing landlords to be helpless victims themselves. That's just trading one problem for another. 
I also agree that the screening process is going to get much more intense. Also, I wouldn't be surprised if rents go up to compensate for the whole new level of risk landlords were just made aware of. 

these are once in a lifetime issues ..  I mean just think of all the small business's that were forced to close.. who is going to rescue them

if anything landlords to my way of thinking have gotten massive help.. their tenants got 1200 bucks ( at least most) and increased unemployment.. then you have section 8.. If the tenants choose to pocket the money and not give it to the landlord that's not the govmits fault..  it just is what it is everyone is suffering..  I mean there is no bail out for us homebuilder developers  !!!  Or real estate agents who cant show houses  it goes on and on.. so like I said to me landlords have gotten huge help far more than many.. Not to mention mortgage forbearances etc..

If the landlord for whatever reason gets in financial difficulty because tenant misses one a few rent payments.. then I think landlord needs to revisit their reserves policies.

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JLH Capital Partners

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