"An eviction tsunami"

[Burning Man]

anyone looking to sell res property in CO or WA or OR, give me a shout at [email protected]

Things are about to get sporty

"Anyone like you who buys investment property is a greedy cunt putting out people on the street and making them homeless"  - A likely @Shortforbob and @Ease the sheet. quote

 

[Dog]

My advice to landlords...If it's at all possible, rent to gays. In our experience they are the best.

 

[mikewof]

There’s no injunction as of yet so sit tight til appeal period runs. 
 

anyone looking to sell res property in CO or WA or OR, give me a shout at [email protected]

Things are about to get sporty

Look at Wyoming. More inventory. Laramie, Cheyenne, for the Colorado industrial creep, Sheridan for the Montana spillover.

 

[Dog]

There’s no injunction as of yet so sit tight til appeal period runs. 
 

anyone looking to sell res property in CO or WA or OR, give me a shout at [email protected]

Things are about to get sporty

Why do you think this is a good time to buy?

 

[mikewof]

But yet ETS says you're greedy and meli thinks all landlords are millionaires and can't let their renters stay for nothing forever.  

That's definitely the narrative. I had a small claim against me, tenant changed her mind about a rental on the fourth of the month, her mom decided that the neighborhood had too many non-caucasians to be safe for her adult daughter. Wanted it all back, I offered deposit and half a month, I was willing to eat the other half. I never thought judge would find for her, sure enough, the evil landlord lost.

 

[kent_island_sailor]

Gotta stand up for Dog here. Wise investment, particularly after the 2008 crash. 

I also am not sure what is wrong with owning an apartment building

 

[Mark K]

No decent property owner wants to evict tenants, it's a lose-lose proposition.

But the moratorium says that the tenant needs to only file the COVID exemption and then they can stop paying rent.

In my case, I have a mortgage and lots of costs on my grandmother's old house, I rented it to a tenant who needed it, and they filed the COVID exemption days later. The exemption claims that the tenant lost their jobs due to COVID, but they still need to attempt to pay some rent. In my case they still have jobs and have paid no rent since October. They won't pay gas, electric or water, and I can't shut it off, so I have to pay that for them. They've broken doors and walls and get into raging fights that end with visits from the police. And eviction is not allowed.

We have social safety nets to prevent homelessness, it's called Section-8 and I'm happy to rent Section-8, I have in the past. But there is no compliance check on the COVID exemption, it's just a blanket permission to not pay any rent.

Yes, I'm sure that it does help some people who have been genuinely impacted, but it's also apparently abused. If you feel proactive Meli, why not rent out your home to someone who breaks down doors and walls and doesn't pay rent. Then you'll have "skin in the game" too! Whee!

Suck it up, Buttercup. You rented the house to a bunch of animals. Deal with it. 

 That said start talking to some lawyers, the eviction ban does not preclude the ability to seek damages after all this is over, and it will be over. Also review your landlord's house insurance policy. I'm sure a brilliant guy such as yourself bought the rider for vandalism, and is aware the ruling of one Texan judge in such matters is worth less than a moderately sized burrito fart. 

 

[AJ Oliver]

We own a apartment building and my wife screens the tenants. She's tough and as a result we have never had to evict anyone. I joke that I wouldn't qualify to live in my own building.

Your wife is a sharp cookie  . . 

I wouldn't rent to you either. 

 

[AJ Oliver]

What's wrong with that, Komrade Meli?  Who is supposed to own it?  The state?

Why not ??  About time the US caught up with the civilized world.  

FYI, the global capital of social housing is Vienna . .  

"Vienna’s city government owns and manages 220,000 housing units, which represent about 25 percent of the city’s housing stock." 

https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_011314.html

 

[billy backstay]

But yet ETS says you're greedy and meli thinks all landlords are millionaires and can't let their renters stay for nothing forever.  

Don't recall who ETS is?  If I were greedy I would not try to work with people in their difficult times, and would simply boot them out instead!  I guess you could say I'm nearly a millionaire based on our equity in Real Estate, but it's not a liquid asset, and doesn't always pay the bills.   Tax consequences of selling are very onerous, as opposed to decent income once all are paid off, and all tenants are paying again...  I'm 65 now and bought first 2-family when I was 27, and running a maxi race boat, this has been a very long term retirement plan.

 

[Burning Man]

Why not ??  About time the US caught up with the civilized world.  

FYI, the global capital of social housing is Vienna . .  

"Vienna’s city government owns and manages 220,000 housing units, which represent about 25 percent of the city’s housing stock." 

https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_011314.html

I guess Vienna's other 75% are just Greedy Kapitalist Kunts who haven't woken up to the New Socialist World Order yet.  Ammiright, aj?

 

[Burning Man]

Don't recall who ETS is?  

@Ease the sheet.

 

[Burning Man]

Don't recall who ETS is?  If I were greedy I would not try to work with people in their difficult times, and would simply boot them out instead!  I guess you could say I'm nearly a millionaire based on our equity in Real Estate, but it's not a liquid asset, and doesn't always pay the bills.   Tax consequences of selling are very onerous, as opposed to decent income once all are paid off, and all tenants are paying again...  I'm 65 now and bought first 2-family when I was 27, and running a maxi race boat, this has been a very long term retirement plan.

Well, according to AJ, you Are a capitalist, greedy, self-serving asshole.  The state should be running your rentals instead.  I would just do the right thing and get ahead of this if I were you - and sign your properties over to the state.  Just saying.

At least in my case, when the state comes to take my real estate investments - they will have all likely been lost in a boating accident.  

 

[AJ Oliver]

Well, according to AJ, you Are a capitalist, greedy, self-serving asshole.

As I tole ya a hundred million times,  

never exaggerate. 

How about if you try reading the article cited before you spout ??? 

 

[billy backstay]

Well, according to AJ, you Are a capitalist, greedy, self-serving asshole.  The state should be running your rentals instead.  I would just do the right thing and get ahead of this if I were you - and sign your properties over to the state.  Just saying.

At least in my case, when the state comes to take my real estate investments - they will have all likely been lost in a boating accident.  

If the Government wants to take our 16 PITA, Cheap, many Section 8, small, low end apartments, and give me a million bucks tax free, just show me where to sign the documents!! 

I will be greatly relieved NOT having to manage Rentals in my retirement, and free to travel more and visit the kids down south!!

OTOH hand, what kind of a safe return can I invest that million into, that's going to pay me more per month, than carrying on as I have been for 35+ years??

 

[ShortForBob]

I'm just pulling ya chains

I've no issue with people renting an apartment or house or two if they're good landlords and play by the rules. I've done it myself. Until there's a better way, landlords are a necessary weevil.

But I do have an issue with listed companies that own hundreds or even thousands of dwellings. 

When unemployed in the UK years ago, I walked into a job, filing maintenance requests with a property management company. 

I'd never realised that some single corporate entities hold the leases on literally thousands of peoples homes. I found it totally depressing having to file humbly and often poorly hand written requests for basic maintenance which were ignored. Mould in cupboards, leaking toilets etc, I quit.

Nah,   Come the revolution brother.

 

[Ease the sheet.]

The problem is the CDC mandate, while it makes sense to do in a crisis, is an unfunded mandate.  Unless the gov't provides the same sort of assistance to the landlords as it does to the renters - it is grossly unfair.  There are people who own rentals who rely on that rent to put food on their own table and to pay the mortgages to keep the property from being taken away from them by the bank.  So it's not a cut and dried thing.

I'm one of those above btw, so it's personal for me too.  I have a renter who lost her job briefly and just stopped paying rent, even after she got a new job.  She got in her mind that this "moratorium on eviction" was a free ride and she was going to camp out rent free.  I tried to work with her to make small payments to catch up over time and I was massively flexible with her.  When she refused all comms to work it out, I showed up at her door and said I was going to file eviction papers.  That night she filed the necessary paperwork to pull the CDC "no eviction card".  I had to have a lawyer send her an official letter stating roughly that while the mandate might prevent me from evicting her now, even a filed eviction notice will crush any future chances of renting anywhere decent AND that she is still on the hook for back rent + interest for ever and that I will pursue her to the ends of the earth to get it.  But that if she started to make some attempt to catch back up, this would all go away.  Surprisingly, a payment arrived the next day with some extra catch up payments.  It all worked out, and yes I could probably have eaten having no payments for a little while..... but not everyone has that luxury nor has a shooting buddy and good friend who is a lawyer and would do that for free.  He bills at close to $600/hr.  A landlord barely hanging on by his or her teeth from going under themselves cannot afford to have their only source of income stopped as well.  So any "relief" from eviction better also include rent subsidies - or it IS absolutely unconstitutional.  

The bitching at the disconnect between the rent relief and the lack of compensation is warranted.

The moratorium should be spread right across the chain, from renter to mortgage provider.

But hey, capitalism with American characteristics....

 

[Ease the sheet.]

YGTBSM!!!  How is owning a property to generate income any different than owning any other business to generate income????  It's called entrepreneurialism.  Isn't that supposed to be a good thing?? 

Investment? Entrepreneurialism?

Then don't whinge when it goes bad.   

 

[Fah Kiew Tu]

As I tole ya a hundred million times,  

never exaggerate.

Oh, the irony....

FKT

 

[Fah Kiew Tu]

I'm just pulling ya chains

I've no issue with people renting an apartment or house or two if they're good landlords and play by the rules. I've done it myself. Until there's a better way, landlords are a necessary weevil.

But I do have an issue with listed companies that own hundreds or even thousands of dwellings. 

When unemployed in the UK years ago, I walked into a job, filing maintenance requests with a property management company. 

I'd never realised that some single corporate entities hold the leases on literally thousands of peoples homes. I found it totally depressing having to file humbly and often poorly hand written requests for basic maintenance which were ignored. Mould in cupboards, leaking toilets etc, I quit.

Nah,   Come the revolution brother.

Dream on. Not going to happen, at least here in Australia. Not for another 100 years or so anyway - property ownership is still way too widespread amongst the middle class & working class.

FKT