Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
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

All Forum Posts by: JR C.

JR C. has started 8 posts and replied 61 times.

Post: Hereos Act will hurt landlords in a bad way

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216
Originally posted by @Ricardo P.:

President Trump did also say it was DOA🤟🏽🇺🇸

 He did. So did the Senate. He also later said it was DOA as written. He wants a payroll tax cut added. He said he would work with the democrats on the bill. Now the senate has also said that “as written”, it is a democratic wishlist. The mentioned several things that were not going to happen. Never once has anyone said anything about the “housing” portion. That is worrisome. 

Post: Hereos Act will hurt landlords in a bad way

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

Property owners have to take out loans to cover living expenses, then pay it back with interest while the tenant stays free in your property without ever paying back rent. Also, if a property owner wants to sell a property and a tenant is still occupying it after the lease expires, too bad. 

I’m sure when tenants across the country realize they can get away with not paying rent and being able to stay free and with no repercussions, there will be millions of property owners out of luck. This will hurt the rental market long term.... less landlords willing to get into the business. Rentals will be scarce and expensive. Again, government getting involved and messing things up. 

Post: Hereos Act will hurt landlords in a bad way

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

Actually, the language states that landlords can not use past evictions against applicants again. It also takes away credit score checks, criminal checks, and mandates you rent to any section 8 applicant. It looks like government control of private property. 

Post: Hereos Act will hurt landlords in a bad way

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

I hope they don’t. It looks like the senate will take it under consideration in July. It does look like a vote will happen but on a scaled down version. What worries me is the things they mentioned wanting to “scale down” did not include taking out the eviction ban. I have a property ready to rent out but I will hold off until I see where this goes. If it passes, I think it is time to sell out. 

Post: Hereos Act will hurt landlords in a bad way

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

Forgive me if this has been posted before. A search didn't find anything. As you probably know, the Democrats in the House passed the Hereos Act, A part of this bill calls for a Federal Ban on evictions of any residential property for non payment of rent. This is extended for 12 month after the pandemic is over. No recourse for landlords. I rely on my properties (which are paid for) for my living expenses. Also in there is a provision stating the back rent will be forgivable. If the Senate passes this bill, I may be without income for a loooong time. Does anyone know any more about this?

Post: My tenant may file bankruptcy.....

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

I am placing the property for sale as soon as I can get her out. My question is whether she can force me to let her stay after the lease expires (in one week) if she files bankruptcy?

Post: My tenant may file bankruptcy.....

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

Before I start, I do have an attorney and will absolutely follow his advise, but in the meantime, I would like to hear all the opinions I can on this issue fro the vast experience on this forum.

I have a property that was a husband and wife with three children, The lease was set to expire on July 31st 2016. The husband left the wife and kids and she became habitually late each month on her rent. Since they are both on the lease, he asked to be released. I rejected his request. After speaking to the wife, she said she really couldn't afford the place so I offered he an early release from the lease (husband too) and she agreed. They both signed an early release form for the lease to now end on May 31st.

The wife now has a boyfriend who I suspect is giving her advise on how to scam me. She mentioned to me she may file for bankruptcy. I understand the idea of bankruptcy and the automatic stay provision if they are tenants. Now, here we are a week away from the new expiration date and she will not answer my calls or texts. The husband is also ignoring me. I am calling them both trying to set up a walk through time. I also drove by the property and rang the doorbell several times but she didn't answer. The cars were both there so I know someone was home. I looked in the window and didn't see any evidence of moving in process either.

My questions...... if she files for bankruptcy, will that over ride the lease termination date? Does it matter if she files before or after the expiration date? She and the husband are in process of getting a divorce so I imagine the bankruptcy would be just her? How would that affect the husband? Will I have to allow her to stay after the lease is terminated even though they both signed an agreement several weeks ago where I stated my position that I was NOT renewing the lease?

Any knowledge on this matter is appreciated. Thank you.

Check out erentpayment.com. They offer outstanding customer service and have some good features. $3 a property but they have been around a while and are not a newbie company that may go under.

Post: Tenant criminal history, whats so important?

JR C.Posted
  • Knoxville, TN
  • Posts 62
  • Votes 216

Zero. Ziltch. Nada. None. 

On my phone interviews, I make this plain and it weeds out most of the riffraff. 

Make things easy for yourself. Life is too short.