All Forum Posts by: Amer Mallah

https://www.nmhc.org/news/press-release/2020/nmhc-rent-payment-tracker-finds-79-percent-of-apartment-households-paid-rent-as-of-august-6/

"This is a 1.9-percentage point, or 223,000-household decrease from the share who paid rent through August 6, 2019 and compares to 77.4 percent that had paid by July 6, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price."

This is based on data from larger, professionally managed properties (not BPers), but based on this it seems like people are still paying as much rent as they did last year, which is good for everyone.

https://fivethirtyeight.com/features/this-first-time-homebuyer-needs-rent-to-keep-his-house-but-his-tenants-are-broke/

Looks like this guy is one of us - house hacking, but COVID-19 wrecked his plans. It's also one of the rare articles which mentions that landlords are mostly normal people who are making a few hundred bucks a month per door and not huge corporations trying to get one over on the little guy.

Yes, of course, that is a link to the actual bill that passed the house. Not sure why the snarky response, your original comment was very specific and my comment was clearly not directed towards you.

Is it really productive for everyone to just shout their thoughts into the forum referencing page X of unknown bill Y? If there is a particular bill and proposal at hand, let's put it up here and discuss what we say to our legislators. If we're not going to be specific and just want to vent, there's Facebook

Cash for keys might work here to get your property back so you have a shot of renting it to a tenant that might pay. I know it sounds painful, but it's one last financial loss to stop the bleeding. The ability to make excuses based on the disruption of COVID19 is not ending any time soon, so if you can get him out without waiting for eviction courts and rent to a tenant that needs it, that is a better long-term plan.

For the next time - late penalty, strictly define and enforce lateness - and if you think you aren't going to be able to pull that off in a disciplined and emotionless way, then get a good PM to do it for you. (Finding a good PM is not easy either.) Good luck!

Strength in numbers is right, but Facebook Security can't handle the number of bots being thrown at it. Unless the strategy here is to use bots and hackers to squash this movement through a FB disinformation campaign, you're better off with another forum.

Personally, I wouldn't continue the business relationship with someone who clearly didn't want to continue the relationship with me by not offering a renewal, but I don't know the whole story.

You signed a contract committing to September 2021 and you're saying there is *no* early termination clause? Then I would say you are lucky to even have been offered a way out that is less expensive than the remaining 16 months of rent you promised to pay. I don't know the laws in your area, but if you want to get out of this lease without a lawyer, you're going to have to point to something in the lease which defines the conditions that you can get out.

You're probably going to get yelled at by a lot of stressed out landlords with this post.

That being said, you signed a lease in December 2019 for a year starting nine months later? Why?

We rented our first home out and got an umbrella policy to protect ourselves. Some advice from our experience: look into a property manager with a great reputation and interview them like its a job interview (use BP advice to make sure you know what questions to ask). The list of advice is much longer if you are going to try to manage the property yourself, but if you have a full time job and this is a secondary venture, a good property manager will own those responsibilities.

Good luck! It's worth it!

Is there any hope of renting it to someone else or has COVID shut down your area completely? If you can find a replacement at 100% of rent, maybe it's worth it to cut the tenant loose.