Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Please log in or sign up for a free account to continue.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

28,153
Posts
41,241
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,241
Votes |
28,153
Posts

Small Landlords are choosing to sell

Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorPosted

More Landlords are choosing to sell, and I can't blame them.

https://www.cnbc.com/2021/03/2...

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
167 Reviews

Most Popular Reply

User Stats

9,999
Posts
18,564
Votes
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
18,564
Votes |
9,999
Posts
Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied
Originally posted by @Nathan Gesner:
Originally posted by @Aj Parikh:

“So if you happen to be in a jurisdiction that allows you as the property owner to work on behalf of your resident, to be an advocate, to get those funds into their hands as quickly as possible, then you’re going to be much more successful,” said Robert Pinnegar, president and CEO of the National Apartment Association. “If you’re in jurisdictions that have taken an approach that is not so customer service friendly, then it’s going to take longer.” 

I am in Fairfax County, VA and we have a landlord assistance program but the requirement is that the tenant has to sign a form and submit pay stubs. I don't know how any tenant who has not been paying rent would help out a landlord to get funds. For example, my tenant has not paid rent in the past 3 months and has refused to answer calls, texts or emails and has not followed any of the notices we have posted on her front door.

That's exactly it. The current system requires the Tenant to participate. Since a large percentage of them are capable of paying rent but simply refusing to do so, this doesn't help the Landlord.

Simple fix: Create a government affidavit that must be filled out by the Tenant to show they are suffering a hardship due to COVID. They attach any supporting documentation and authorize the Landlord to use the information to apply for assistance. Landlord uses the form to apply for assistance. Any renter failing to pay rent and failing to fill out an affidavit is still subject to eviction.

Problem solved.

 Slow down, we can't actually solve problems. We sure can't solve a problem with one paragraph. Here is the better approach:

1. Have politicians debate it for months.

2. Pay people to study the issue.

3. Have politicians debate the issue more.

4. Draft a gigantic bill to address the issue and include a thousand unrelated things in the bill. (Mostly payoff for political supporters).

5. Allocate billions to the solve the problem.

6. Repeat steps 3-5.

7. Have the media write articles about how the problem is evil business owners. Make people argue with each other, so they don't see the real problem. This prevents the naïve masses from realizing the politicians are the problem.

8. Politicians run for re-election and offer to solve the problem. They blame the other party for not solving it and offer to fix all your problems.

9. Go to step 1 and repeat the cycle.

  • Joe Splitrock