Moratorium-17 months (by RentsDue [MA]) Jan 18, 2021 11:50 AM
Moratorium-17 months (by Doogie [KS]) Jan 18, 2021 12:07 PM
Moratorium-17 months (by LisaFL [FL]) Jan 18, 2021 12:16 PM
Moratorium-17 months (by Nicole [PA]) Jan 18, 2021 12:18 PM
Moratorium-17 months (by S i d [MO]) Jan 18, 2021 1:06 PM
Moratorium-17 months (by RentsDue [MA]) Jan 18, 2021 2:47 PM
Moratorium-17 months (by W [CA]) Jan 18, 2021 3:12 PM
Moratorium-17 months (by W [CA]) Jan 18, 2021 3:21 PM
Moratorium-17 months (by DJ [VA]) Jan 18, 2021 7:13 PM
Moratorium-17 months (by Robin [WI]) Jan 18, 2021 9:38 PM
Moratorium-17 months (by S i d [MO]) Jan 19, 2021 8:11 AM
Moratorium-17 months (by RentsDue [MA]) Posted on: Jan 18, 2021 11:50 AM Message:
The eviction moratorium started here in April 2020. The new administration has said that on Day 1 they are extending it until September. So , 17 months if they don’t extend it after that. For the sake of simple math, if the rent is $1000.00 per month ( cheap rent here) , just one unit could hypothetically owe $17,000.00. Not including any utilities that the LL had to pay. That money is lost. While I don’t have non payers (yet) , I have still lost due to a vacancy I am in no rush to fill. I’m not taking any risks.I’m not alone. I know of several other LLs who are letting them sit empty. I don’t know what the end game is here. I would have already sold if that was an option.
--75.133.xxx.xx |
Moratorium-17 months (by Doogie [KS]) Posted on: Jan 18, 2021 12:07 PM Message:
I have been thinking about that a lot as well. One of the things that I keep hearing is they want to extend it because they are afraid of the wave of evictions that will be filling up the court system. So extending the ban another 6 months will help with this wave? Um, no.
The other thing I keep hearing is that the tenants still owe the money. They will have to pay. To say this is laughable would be an understatement. You folks know as well as I do that if it goes past a couple months, the money will never be seen. That's why one of the big pushes on this site is zero tolerance. You lose FAR less money that way.
Of the comments I read of people against the LL, a lot of them say you shouldn't be able to rent out a house unless you own it free and clear. Excuse me?? I know some on this site can say they are in this boat. (Kuddos to you on that too!) The vast majority cannot. This also makes no sense whatsoever. There aren't a lot of businesses that don't have some form of debt. The majority of LL's would not have started if they had to buy with cash as well. So who provides the housing then?
Oy vey....
--70.179.xxx.xxx |
Moratorium-17 months (by LisaFL [FL]) Posted on: Jan 18, 2021 12:16 PM Message:
Actually I think those who have paid for their homes are hurt more or at least as much by this. They’ve actually already used their own money to pay for their asset and now it has been essentially taken from them unless they can non-renew and evict that way.
In one case you’re being denied access and control over something you fully own. If you have a mortgage you don’t actually own the asset. --216.186.xxx.xx |
Moratorium-17 months (by Nicole [PA]) Posted on: Jan 18, 2021 12:18 PM Message:
I own quite a bit free and clear ... because my tenants have paid me for over 40 years and I've worked ...and worked hard. So because I've worked for 40 plus years at being a landlord, I should hand over my hard earned cash as opposed to the 24 year old landlord that I used to be ...mortgaged to the hilt ... and then some !!
Just because you own it with no mortgage shouldn't mean anything at all.
Many on here have W-2 jobs with pensions, 401(k)s, etc. My retirement (by choice) is dirt and bricks. Does anyone have functioning brain cells that thinks about this stuff ?!?!? --72.70.xxx.xxx |
Moratorium-17 months (by S i d [MO]) Posted on: Jan 18, 2021 1:06 PM Message:
The moratoriums are an example of the overreaction by Govts. To add insult in injury, it is the only industry to my knowledge that has been forced to continue providing service at no cost to those who cannot or will not pay. If someone knows of any other basic service such as grocery stores, utility companies, gas stations, etc. that has been mandated by the Govt to continue providing services that users can rack up endless levels of debt on, let me know so I can amend my statement.
My advice is one of two things:
1) Get out of investing in MA. You have been put on notice that your property is no longer yours in any real sense of the word. It has been taken from you without due process and without compensation. There is no reason to expect these moratoriums will end any time soon, nor is there any reason to expect you will be paid what you are owed. Therefore, the only logical answer is to sell them--probably to owner occupants or slum lord investors who use self-help evictions to remove people thru intimidation, etc--and reallocate your investment dollars elsewhere while you still can.
2) For all of the reasons set for in #1, sell all your properties except for those that cater to wealthy, respectable individuals for whom getting even a tiny black mark on their past would destroy them professionally, so they have every incentive to do what is right even when the Govt is looting you with impunity. Think people who have a large community presence, big bank accounts, and security clearances. Any of those will suffer shame and loss of privileges if their name ends up on a court docket and are easy to collect from.
The most dangerous legal concept isn't a left wing nut job with socialist ideas: rather, it's precedent. They HAVE done it before; they ARE DOING IT now....ergo, they WILL DO IT again and be able to cite what is going on now to justify their behavior.
"I didn't know they could/would do this" is no longer an excuse in the Liberal East and the Left Coasts. Red signs are flashing: "GET OUT NOW!"
--107.216.xxx.xxx |
Moratorium-17 months (by RentsDue [MA]) Posted on: Jan 18, 2021 2:47 PM Message:
After Wednesday, I don’t think the state you live in will matter. They’ve also got big plans for immigration. Where are they going to live? Are LLs supposed to take on that for them too? They have already made it illegal ( Federal) to evict for non payment. What is to stop them from demanding we house the immigrants they intend to let in? Right now , we all have screening in place to prevent people who can’t pay from moving in. That doesn’t work for their agenda so it would be foolish to believe that will stop them from making their own rules for our properties. They are already doing that. The utility companies can’t shut anybody off now either. They have a lot more money and pull than LLs, so will they push back or will the government just supplement them . --75.133.xxx.xx |
Moratorium-17 months (by W [CA]) Posted on: Jan 18, 2021 3:12 PM Message:
Remember reading about a man who built a low maintenance, low stress bungalow 4plex. No landscaping, all concrete exterior and sunken floors in all the units. Oddly, when a tenant was late on the rent, often the plumbing would back up and fill the sunken concrete tiled floor that unit . . . Must have had a bad plumber who installed the plumbing, but if the T had the rent now, he said could could call a better plumber to fix the problem and drain the water asap . . . --174.65.x.xxx |
Moratorium-17 months (by W [CA]) Posted on: Jan 18, 2021 3:21 PM Message:
Moral of the above story about the low stress apartments is that in the future, apartments should be designed to reduce the stress caused by deadbeats or moratoriums . . . and including an incentive to pay money owed or conserve utilites paid by the owner. I've noticed in Mexico, some low cost hotels oddly enough have glitches with the showers such that people don't want to use the water very long - either too cold or too hot never a comfortable temperature, which seems to save the hotel money on long showers. A bug or a feature? --174.65.x.xxx |
Moratorium-17 months (by DJ [VA]) Posted on: Jan 18, 2021 7:13 PM Message:
I assume you are talking about the new Federal administration - incoming executive branch, and therefore the CDC moratorium being extended? But that didn't start in April.
At least that one isn't as bad as many implemented at state levels.
It does require some proof & may be challenged.
Unless you are referring to a different moratorium?
There have been / are soooo many....... --68.229.xxx.xxx |
Moratorium-17 months (by Robin [WI]) Posted on: Jan 18, 2021 9:38 PM Message:
Sid, in answer to your question, hospitals are required to provide care for free to those who can't afford it. Of course, they're also given financial relief, unlike landlords.... --104.230.xxx.xx |
Moratorium-17 months (by S i d [MO]) Posted on: Jan 19, 2021 8:11 AM Message:
Robin, thank you for the recap....yes, I am aware of the hospital gig. I was thinking in terms of businesses that have had this burden placed on the since the C-19 mess began. But you are correct, and the effects of "free" emergency room medical care can been seen in increased prices for everyone who doesn't get it.
Just so for rentals. The payers will end up paying for the non-payers. There is no free lunch. --107.216.xxx.xxx |
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