All Forum Posts by: Account Closed

@Jason Allen

I read more. And I’m baffled even more by your ideas.

Tenants should keep their retirement accounts, keep college fund savings, but we should offer them a rent reduction? I’m retiring in three years and I have two kids in college. But that doesn’t matter. I should work longer and my kids college doesn’t matter. Got it. Thanks.

Tenants aren't my children and they aren't my responsibility.  Tenants are adults that need to learn how to make good decisions and take care of their basic needs, housing being second most important after food.  Tenants need to tap their OWN resources before I should be expected to dip into mine to help them.  This doesn't show a lack of empathy for the situation, but rather the reality of being an adult.  

Note: I placed the following on a thread and I am putting it here as as well:

"Hello All,

I’d like to put this in the tenant’s perspective. I rent and that rent check is ready to go for April no matter what. I’m a health care worker but mid-March, we were sent home and may not return for another couple of weeks. Ugh.. I’m keeping a high chin and know that we’re going to come through this without adding to my landlord’s worries. But the rent will be paid

I’m sure some of your tenants have thoroughly considered, “hum that money I do have, I will instead save it for food and hoard more toilet paper”. This is a scarcity mentality. Perhaps this is a time when you can help bring education into the picture. Sometimes we assume people know about savings and emergency funds, etc.; I mean it does sound quite basic, right? Think about that time when you read “Rich Dad Poor Dad” and your mind did a 360 pivot and lo and behold a new perspective. Your tenants could probably use some pivot in their use of money. You may not see it as your job but here you are worrying about money yourself. What can you do to bring a little enlightenment to your tenants?

Communication with your tenant and encouraging your tenant to stay in touch is of utmost importance. Here’s a little story about my negotiation as a tenant: There was a time when I lived in Jersey, and went through surgery, chemo and radiation. I wrote a proposal to my landlord stating the situation and gave my BOLD proposal which was: asking to her to reduce my rent by $200 (from $1300 to $1100) for six months, then in 6 months I will pay her $1500/month until caught up. This angel landlord approved it; I was elated and I fully complied with that agreement and paid her despite working part time and four children to feed. Previous to this scenario, I had made other proposals that were all win-win. Let’s not go into agreement with scarcity. How can you and your tenants get in touch to create a win-win scenario despite Covid19?"

@Jason Allen

I understand you just fine. And your message is very poorly written. My tenants financial well being is not my responsibility. And that is not “immoral”. We aren’t dealing in moral agreements here. We are dealing in a business transaction. I provide housing for rent. Nothing more, nothing less. And, tenants can break their lease any time they want. I am not forcing them to stay. But you wish for all landlords to act as parents, not landlords. You want us to help tenants financially, make the tough life decisions for them, and act as their security blanket during tough times. Why? Apparently, because we have more money than they do.

You’re not even asking for landlords to work with tenants, or defer rent payments. Nope. You said; let them leave with no consequences or allow them to pay less rent for 90 days. You said all of us should be doing this out of a sense of morality.

I honestly don’t care what others are doing. It’s their business to run as they choose. But you feel a sense of superiority in telling everybody what they should be doing. That is beyond the pale. So yes, I understand you just fine. I just don’t like it.

@Jason Allen Oh ok! So in your logic it's my fault this happened and I should eat some of their rent or move back in with their parents and out of the lease? Just keep teaching them the lesson that life doesn't come without consequences because they cant save. I'm not saying I wont work with my tenants, because we've had conversations on this issue.

A lack of planning on YOUR part doesnt constitute an emergency on mine.

 That is what I plan to do, but I also know most of my tenants live in an area where the government will pay landlords $500 a month directly if the tenant has problems paying.  the tenants have to apply for this.  I think most of my tenants are good and we work well together-if they need something they have no problems asking.

@Jason Allen

Just so we are clear, “we” should have reserves and be able to give free rent, but it’s mean to expect anything close to the same for tenants? Are you being serious? FYI: the government is giving $1,200 per person, $500 per child, unemployment benefits up to their full salary, and perhaps more. But I, Mr. Small Business Owner, should offer free rent or be ok with letting all tenants move out?

Next up, nobody should pay any bills, because life isn’t fair...

@Account Closed

 "If this includes dipping into retirement funds, extending CC debt, or securing government help, that's what needs to happen."

 Do you think it's practical to ask Grocery stores to give discounts on food whenever someone is having a tough time? Should Walmart do the same when they're selling t-shirts? Where do you draw the line?

While I don't necessarily disagree with you, do you think I should start a thread stating "Banks... stop being so hard on your owners"?