Re: Eviction Moratorium - Landlord Forum thread 360946

Re: Eviction Moratorium by Garry on November 23, 2020 @13:43

You are right. This moratorium is thru out the whole country, and millions of tenants and landlords alike are effected by it. The moratorium is scheduled to end Dec.31, UNLESS it's extended by the federal govt. The only good news for us LLs, is that "supposedly" all Ts will need to pay all the back rent owed, even if that's 6 months worth of rent.

Remember, 98% of those affected Ts don't want to lose their homes, anymore that you want to go to court and evict them. I have 2 Ts like that, that are in the same boat you and I are in. For now, ALL LLs will have to wait till Jan.1st to see what happens on the moratorium. Hopefully, most LLs have enough money behind them, to weather this thing out till Spring.

And, NO, you do not need to sell your rental house right now. Wait at least till April, to see if you've collected any rent, if the T is still there, and what the market is for selling you place.

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Re: Eviction Moratorium by Merritt on November 23, 2020 @14:06	[ Reply ]

The tenant may owe the back rent, but they will never pay it! They'll just move out, and I'll have to put in someone else and start all over (though my bills on the house definitely don't start over). It's straight up THEFT from me. I would like to know, how many tenants, percent-wise, are availing themselves of this. You said you have 2 tenants utilizing the moratorium...may I ask how many total active tenants you have? i.e., 2 out of how many? I have a total of 8 active tenants right now, and 1 of them is utilizing this thing. So for me, it's 12.5% of my tenants which are non-paying and using the moratorium. That's a large percentage!

Re: Eviction Moratorium by Garry on November 23, 2020 @17:11	[ Reply ]

GET OVER IT, AND CALM DOWN !! We landlords are small businesses, just like the millions of restaurant owners, bar owners, and other small business owners are. We are ALL HURTING right now. It's estimated that 1/4 of all small business owners will fold by next Spring. Hopefully, you won't be in that 1/4. As for me, I have 19 SFHs. 4 are totally vacant right now, and 2 other Ts are not paying me rent yet. That's 6 of 19 units I have no income from-----that's 31%. That said, you seem to be a newer LL with many mortgages. I have been a LL for over 40 years. I have 10 places totally paid for, so I have good cash flow----probably something you don't have. You will get where I am at now, but it takes TIME AND PERSEVERANCE. The next few months should be the time you TRY TO WORK with your Ts that are behind in rent. Evictions should be a LAST resort. Get all your finances in order, and if need be, try to figure out how to get a temporary loan to get you thru the next year. As for the moratorium on evictions, NOBODY can do anything about it, so why complain about it. It is what it is, and will be over sometime next year.

Re: Eviction Moratorium by Merritt on November 23, 2020 @17:56	[ Reply ]

How do you know it will be over? That's speculative. Exactly what is there to stop the wonderful unelected bureaucrats over at the CDC (or wherever) from extending it as long as they darn well please??? I hate the defeatist attitude you have. Nothing we can do about it?? We can speak out, we can organize, we can let people know about our plight. This is nothing short of LEGALIZED THEFT! If I don't have the ability to evict, why in the world would ANY tenant work with me on getting me paid? They know they DONT HAVE TO! So why would they??? I hate the way so many other LLs do precisely what you're doing - nothing. They don't care, even while they are being stolen from. Thanks for the apathy.

Re: Eviction Moratorium