NY Bill Would CANCEL Rent for 90 Days, Not Postpone.
Most Popular Reply
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6yI wouldn't touch NY with a ten-foot pole.
172 Replies
- Member since 2017 · 66 posts · 91 votes6y
Someone needs to start a website listing all the tenants that are refusing to pay rent. That way when these people escape NY and go to other areas of the country we will know who not to rent too.
- Flipper/Rehabber · Pittsburgh, PA · Member since 2020 · 29 posts · 17 votes6y
It seems unlikely that this will withstand constitutional scrutiny. I am not a lawyer, but....
The government doesn't have the authority to take your property without compensating you. This action would seem to violate that principle. I'd be interested to hear from actual lawyers as to how this will play out.
I live and have two properties in NY ( far away from nyc). I’m fortunate cause I have specific rentals and good income tenants. AnywAys, this Cuomo is crazy doing what he’s doing. I KNEW he’d extend this. I don’t see how he gets away with changing contract law. If I were a LL with multiple properties and with low-middle working income I’d be very anxious. Section 8 the only way to go or higher end rentals (even those will have issues)
I live in NYC I’ve already been hearing horror stories from other property managers who have tenants choosing not to pay even though they are employed because they saw on social media they don’t have to pay right now... I’m afraid of what all of this will do to real estate in general in New York...
- Rental Property Investor · NY · Member since 2015 · 49 posts · 20 votes6y
Such an intelligent man.
- Lititz, PA · Member since 2013 · 595 posts · 272 votes6y
Do no forget: This proposed bill is theft and is an unprecedented attempt to take by politicians seeking votes. It requires that someone provide a service and a product for free for three months. If you do the maintenance on your own properties you are working for free. If you hire maintenance done, there is no reimbursement for their costs. If the housing provider pays the utilities, they are not being reimbursed. There is no forgiveness/cancellation of the multitude of high property taxes that New York housing providers pay. There is no reimbursement/cancellation of insurance costs.
It provides no reimbursement for the majority of the providers expenses, and zero reimbursement if there is no federally backed mortgage (which many housing providers don't have and is only one of several bills a housing provider is responsible for).
Originally posted by @William Coet:
Do no forget: This proposed bill is theft and is an unprecedented attempt to take by politicians seeking votes. It requires that someone provide a service and a product for free for three months.
Being from NYC, I can assure that this has nothing to do with seeking votes.
People like Cuomo, Mayor de Blasio are neoliberals. Neoliberals are people whose entire purpose is to work in favor corporate and elite interests. Because they don't want anyone to know what they're up to, they'll always hide their intentions by pandering to populist Rightwing or Leftwing movements.
In the case of NYC, the entire goal of Cuomo, de Blasio and company has been to destroy the small business and small property owner class in order to hand it over to their fat cat developer donors and buddies. Of course, they can't do this outright, so true to the shadiness of neoliberalism, they've been passing laws or using protocols under false pretenses, pretending to do it in the name of progressivism (pro-tenant rights" and "pro-affordable housing"). However, if you look at how these protocols and laws played out, every single one of them were nothing more than power plays designed to bankrupt small property owners or erode property rights in such a way as to push them into cashing out to developers or make it easy for the city to steal property for developer interests.
For example, de Blasio invoked Third Party Transfer to snatch property from elderly black homeowners in Brooklyn. He did it claiming that he was doing it for "affordable housing," but he was using Third Party Transfer to take property from holdouts in gentrifying parts of NYC that had refused to sell out to developers.
Cuomo, de Blasio and these other NY politicians' jumping on the #cancelrent movement have join the anti-landlord/pro-tenant populist brigade for the same reason. They're pandering to this crowd with these b.s. eviction moratoriums to make it look like they're bleeding heart liberals who care about tenants struggling under COVID-19. But the whole point is to collapse the real estate market so that the last remaining number of small property owners are destroyed, much in the way they completely destroyed small business in NYC.
I am not saying that buying votes isn't playing a part in all this. It's just not the most important goal. More important is the end game--setting the mechanisms in place to collapse the market. And the only way they can disguise the end game is by subterfuge, as in pretending that it's all in the name of progressive ideals.
This end game is why none of them seem to not give a damn about all the legal and Constitutional implications of what they're doing. They know that by the time this is contested, the damage will have been done. By the time laws reestablish property rights, the fat cat developers will be the only people holding property and the small property owners will have all been gone by then.
- Real Estate Agent · Scottsdale, AZ · Member since 2019 · 448 posts · 320 votes6y
Well, I am glad not to live in a blue state.
- Flipper/Rehabber · Cincinnati, OH · Member since 2020 · 300 posts · 417 votes6y
@Doug Smith That's what I'm thinking. I'd also be curious to hear a lawyer's perspective on this, as well as on the measures in L.A. (and proposed in other cities) to defer rent payments for 12 months. Isn't this still taking the landlord's property? If a tenant doesn't have to pay for a whole year, but the landlord has to pay mortgages and/or utilities during that time, many landlords could potentially lose their properties and their livelihoods.
- Investor · Litchfield County, CT · Member since 2017 · 54 posts · 9 votes6y
Folks, We're not powerless. If we stand together, we can fight the insidious, mendacious, unconstitutional #CancelRent movement. There are numerous steps we can take to combat this lunacy. PLEASE JOIN BELOW TO FIND OUT HOW
https://www.facebook.com/group... [ https://www. facebook.com/groups/BoycottCancelRent]
We all wish to help those in need, but forcing Property-Managers, Landlords, and Real-Estate owners to give away their only product for free isn't the answer. JOIN NOW! Open to all Investors, Landlords, PMs, Realtors, Americans (including even Tenants) who are proud to honor their word and are annoyed by freeloaders & those who won't, and all other supporters of Private Property rights.
The group is just starting so it needs your support... Let's help each other out!
- Investor · Wichita, KS · Member since 2014 · 47 posts · 15 votes6y
These rules are going to end up destroying property values in these states, it is a very sad experience to see the amount of socialistic attacks from people in the states right now, especially on the coasts. I feel very blessed to be in the Midwest during times like this although there are definitely socialistic trends in our area that will need to be stood up against to prevent similar outcomes.
- Member since 2017 · 66 posts · 91 votes6y
As if NY was alone read what Congress is about to do to all of us....
If you own regular rentals, be prepared to subsidize your tenants.
Unfortunately, there is a whole lot less help if you own regular rentals. The following applies for all property, referred to as “covered dwellings” in the Act:
Basically, all residential rental property falls into this category.
Here is what is said,
The period to be covered is from the date of enactment of the bill until 6 months after the end of the emergency declared on March 13, 2020 (page 526).
That means that the landlord can’t evict a tenant who doesn’t pay. It also means that the landlord can’t evict a tenant who vandalizes a property, rips out all the appliances, equipment, furnishings and floor coverings or who is threatening to other tenants. It also means you can’t evict for petty crimes. You can only evict if there is a serious criminal act that threatens your life or that of other tenants.
That’s a pretty broad window.
Read More here.....
I’m a LL for only two whole house properties. I have great tenants and high value properties so I’m lucky. What scares me about this proposition is not the fact tenants can choose not to pay, and I don’t care if Govt subsidizes and pays the rent but the mere fact Govt takes away your rights to control YOUR property. Really feel for LL about to get screwed! So unfair
A
- 6yRobert SchulmeistersPro MemberMember since 2019 · 35 posts · 29 votes
In an interview in the New Yorker Mayor DeBozo said that if it was up to him, The mayor's office would control who bought what property, where and how for how much. That's not affordable housing or cooperate buy outs, that is socialism.
Originally posted by @Robert Schulmeisters:
In an interview in the New Yorker Mayor DeBozo said that if it was up to him, The mayor's office would control who bought what property, where and how for how much. That's not affordable housing or cooperate buy outs, that is socialism.
It's not socialism if the end goal of #cancelrent is to bankrupt small property owners so that the banks, fat cat developers, banks and the city winds up owning all the property and no one in the future will be allowed to own a piece of real estate to invest in or even own their house. That is flat out neoliberalism.
Of course, from the way these fake progressives talk (De Blasio, Cuomo, etc.), you wouldn't think that. It sounds like they're "progressive" and "socialist." But they're not. They are in the pockets of developers, who have been working over time to "liquidate" properties owned by small property owners and force increasing numbers of people to be condemned to renter-serfdom. If this sounds like Tin Foil Hatism, the proof is in the pudding:
Developer with ties to Cuomo gets $2M tax break amid bailout
https://nypost.com/2017/07/04/...STATE FINES DEVELOPERS FOR THEIR ‘GIFTS’ TO MAYOR DE BLASIO
https://thecity.nyc/2019/09/st...Developer paid de Blasio-linked lobbyist, lawyers for East Village petition
https://nypost.com/2020/01/14/...Kiryas Joel-based developer is Cuomo’s top donor this year
https://therealdeal.com/2015/0...Part of the revolting strategies these neoliberal fauxgressives have been employing to get things rolling is co-opting progressive causes to make it look like they're doing it in the name of "affordable housing" when the end game is to help fatten the pocketbooks of their developer-donors or "gift" them increasingly larger shares of real estate.
That is all this "#cancelrent" nonsense amounts to. It's another power play. No one in politics or real estate doesn't understand the Real World implications of canceling rent. Everyone knows that all that would happen is that ain a year's time, all of the small landlords would be cashing out or going into foreclosure. They also know that once that happened, the renters would all be forced out into the street anyway, defeating the whole point of "canceling rent."
Cuomo knows this. De Blasio knows it. AOC knows it. Michael Gianaris knows it. All of these other fauxgressive hacks know it. But they want to keep pretending they don't understand, blinking their eyes innocently as if they don't understand that this would be the precise outcome of #cancel rent. All the better a year from now to pull a Mortimer Snerd when the you-know-what hits the fan. "Oh, gosh, hyuk hyuk! All of these low income minority renters in these gentrifying neighborhoods have to move because their buildings are being seized or cashed out from under them as the banks, city and developers take over? I didn't see that coming! No sirree!"
So, I repeat, this isn't socialism. It's neoliberalism. And the sooner people realize that it's these political crony neoliberal hacks driving this b.s. #cancel rent movement, the sooner we'll get a better handle on it and fight it.
- Member since 2017 · 66 posts · 91 votes5y
Well it looks like the next battle is about to begin with the CDC finally loosing is scamdemic eviction moratorium.
Can't wait to see the tsunami of evictions that will be occurring.
The leftists have ruined many landlords with is B.S.
- Investor · Hicksville, NY · Member since 2014 · 23 posts · 8 votes5y
@William Coetzee
Thank you William I will express my opinion against that absurd bill. That bill appears to be sponsored by the same clown that opposed Amazon moving their headquarters2 to Long Island City.
Join the conversationCreate a free account to reply, vote on answers and follow this thread.