Well, whether apartment owners, and managers, like it or not, the new Stimulus Deal includes an Eviction Moratorium. IOW, renters can not be evicted for not paying rent. However, that is only until January 31st 2021. And, I read, that all past-due rent has to be paid, or. The renters also have to supply information to the manager as to why they can't pay rent; at least in our complex they have to. The manager here has already evicted two brothers that lived in an apartment. The maintenance girl told me, "we gave them every chance to pay something and they wouldn't." So, the local County Sheriff was called to make a report and keep the eviction absolutely legal. The maintenance girl told me that the apartment was a total mess.
So what if someone is carrying a mortgage on that property and am dependent on rent income to pay it? Do they get relief?
Someone always gets squeezed, huh? I've often thought of investing in real estate, but that whole "put someone out on the street" thing has always stopped me.
Agree. And you have to feel for landlords who depend on that rental income for their livelihood. Where's the love for them? Are they simply supposed to be bankrupted because of someone else's misfortune? There are no easy answers for this situation.
What I had understood was that if the owner of the rental property had it financed through the government, then the mortgage payments were forgiven, so that the landlord could also forgive the rent payments. However, if someone is renting a house/apartment that is not government financed, then none of this would apply to that rental property. I am not sure if this is correct or not. I think that it also would only apply if the tenant had lost his job due to the lockdowns and closing of businesses, so it would not mean that people could just decide to live rent-free just because they decided they did not want to pay rent.
If I'm a politician there's an easy answer: be generous with someone elses money. I guess the phrase "evil landlord" resonates more than "deadbeat tenant" (current circumstances notwithstanding.)
Correct. When a tenant/resident states they can't pay their rent, our manager has to have verification of "why". But, things can go better for the resident if they can pay anything towards the rent. Actually, until I seen a CNN thing listing what is in the new Stimulus Deal, I thought the Eviction thing would last longer than it will. But.
On Facebook, some people here were discussing the eviction thing. Some said, "people should not be evicted, when the problem isn't their fault", while others said "People, pay your rent! I'll bet you'll have money for cigarettes, booze and online Christmas gifts."
Yeh, for those who think there aren't enough resources for people, there are some who consume that which they do not need (the meat department manager here knows to stock more snow crab legs on the day that EBT cards are refilled.) I've been on the board of a few non-profits in this small county, and there are folks who sat along side me who form this network that knows who "the takers" are. If we weren't certain of a given applicant, we knew who to ask for the inside scoop. To the extent possible, resources get deployed to try to help those people get as self-sufficient as they are capable of being.
I remember reading about people showing up in limos to get Food Stamps after the Northridge earthquake happened in So. California. Our vehicle repair shop is next to a food bank and one time, when we were at the shop to have our vehicle fixed, some lady drove into the drive of the food bank in, what appeared to be, a brand new white Mustang convertible. I looked at my wife and said "what??"
Can't get up much sympathy for landlords. I'd never depend on that as an only source of income. Although I know a few who became very wealthy from rental property, in addition to a regular job.
The only things that kept people from being evicted here on the last go-around are (1) The landlord was cool. (2) The courthouse was closed. Yup, that’s going to be the same this time with the possible exception that the courthouse might be open for those landlords who have $340 to process the eviction. That said, the mandate really doesn’t mean anything to anyone around this part of the country. Note: I’m #1. I’m cool. 2nd note: If I managed Cody’s apartments and found out that the maintenance lady was spreading around private information, she’d be the 1st one looking for a job. If a tenant wants to spread around his or her business, that’s their prerogative but on the chance that a whole property can be sued for such stupidity as leaking private information to another tenant, that employee would either be highly chastised or released from employment.