4 ms·

All rent should be suspended, across the board, for everyone. Rent is a passive expense that businesses and individuals alike who are not getting any income rig

by _bxg1 7y ago

All rent should be suspended, across the board, for everyone. Rent is a passive expense that businesses and individuals alike who are not getting any income right now will have no hope of paying.

bpodgursky 7y ago
Do you consider property tax to be 'rent'? Because a large percent of rent is getting funneled right back into property tax, which isn't (yet) adjusted down. (to be clear, I'm fine with a lot of rent deferment / freezing, but I do think there needs to be equivalent property tax forgiveness for at least retail space)
- vkou 7y ago
  1. Property taxes are typically a small portion of rent. 2. In many municipalities, they can be deferred for a long time, without serious penalties, even when we're not in a state of emergency.
- _bxg1 7y ago
  Sure, that might make sense too
arkades 7y ago
Not all rent is giant corporations. My mother is a retiree who basically pays her living expenses every month by renting out the first floor of her two-floor home. "All rent should be suspended" would drive her into bankruptcy, and ultimately leave both her and her tenant without a place to live.
- bsanr 7y ago
  Under the circumstances, the only living expenses should be gas and food. If someone who owns hundreds of thousands of dollars worth of capital doesn't have enough money set aside to weather a bad month, hopefully they've been kind and fair enough to their tenants to receive help, or have supported community efforts to help feed those in need and can receive support in turn. Like, this is why people need to be active participants in their interests, and in the things around them.
  - Anon1096 7y ago
    There is still taxes, mortgage, upkeep, and many other daily expenditures of life to pay.
  - arkades 7y ago
    Calling it "hundreds of thousands of dollars of capital" somehow makes it sound like massive wealth, as opposed to the single accumulated asset of a lifetime of lower middle-class labor.
    - bsanr 7y ago
      It's not pennies, and it's supposed to be evidence of fiscal sophistication. That's what Capitalism is marketed as: the people who are most responsible and talented gain the most wealth. Are you telling me it's not true?
      - deleted 7y ago
        [deleted]
- deleted 7y ago
  [deleted]
blackrock 7y ago
All government help will go to those with an overpriced mortgage. Renters are going to get screwed over! Again. They get nothing. And most of them are going to lose their jobs. They’re talking about spending $8 Trillion on bailouts for large businesses. Government Motors. Government Hilton. Government Boeing. Instead, they should just pay everyone’s rent for the next 2 years as a universal basic income, until this blows over. At this level of insane money printing, then what is the difference between $8 Trillion vs. $10 Trillion? Nothing. It’s just a decimal point.
refurb 7y ago
OK, then what do all the landlord do when their mortgage is due? Property taxes?
- TheSpiceIsLife 7y ago
  Suspend those too. It's turtles all the way down.
csomar 7y ago
Rent is only one part of the chain. You have mortgages, people/funds depending on this income, people taking loans against their property, etc... Stopping rent will stop these people and you'll have a cascade effect. You need to stop everything.
- jddj 7y ago
  Everything is stopping. Layoffs, across-the-board closures, mortgage holidays. Hyperbole, but the property owners who get paid to stand still are the only ones still expecting to get paid.

by _bxg1 7y ago

All rent should be suspended, across the board, for everyone. Rent is a passive expense that businesses and individuals alike who are not getting any income right now will have no hope of paying.

bpodgursky 7y ago

Do you consider property tax to be 'rent'? Because a large percent of rent is getting funneled right back into property tax, which isn't (yet) adjusted down. (to be clear, I'm fine with a lot of rent deferment / freezing, but I do think there needs to be equivalent property tax forgiveness for at least retail space)

vkou 7y ago
1. Property taxes are typically a small portion of rent. 2. In many municipalities, they can be deferred for a long time, without serious penalties, even when we're not in a state of emergency.
_bxg1 7y ago
Sure, that might make sense too

arkades 7y ago

Not all rent is giant corporations. My mother is a retiree who basically pays her living expenses every month by renting out the first floor of her two-floor home. "All rent should be suspended" would drive her into bankruptcy, and ultimately leave both her and her tenant without a place to live.

bsanr 7y ago
Under the circumstances, the only living expenses should be gas and food. If someone who owns hundreds of thousands of dollars worth of capital doesn't have enough money set aside to weather a bad month, hopefully they've been kind and fair enough to their tenants to receive help, or have supported community efforts to help feed those in need and can receive support in turn. Like, this is why people need to be active participants in their interests, and in the things around them.
- Anon1096 7y ago
  There is still taxes, mortgage, upkeep, and many other daily expenditures of life to pay.
- arkades 7y ago
  Calling it "hundreds of thousands of dollars of capital" somehow makes it sound like massive wealth, as opposed to the single accumulated asset of a lifetime of lower middle-class labor.
  - bsanr 7y ago
    It's not pennies, and it's supposed to be evidence of fiscal sophistication. That's what Capitalism is marketed as: the people who are most responsible and talented gain the most wealth. Are you telling me it's not true?
    - deleted 7y ago
      [deleted]
deleted 7y ago
[deleted]

blackrock 7y ago

All government help will go to those with an overpriced mortgage. Renters are going to get screwed over! Again. They get nothing. And most of them are going to lose their jobs. They’re talking about spending $8 Trillion on bailouts for large businesses. Government Motors. Government Hilton. Government Boeing. Instead, they should just pay everyone’s rent for the next 2 years as a universal basic income, until this blows over. At this level of insane money printing, then what is the difference between $8 Trillion vs. $10 Trillion? Nothing. It’s just a decimal point.

refurb 7y ago

OK, then what do all the landlord do when their mortgage is due? Property taxes?

TheSpiceIsLife 7y ago
Suspend those too. It's turtles all the way down.

csomar 7y ago

Rent is only one part of the chain. You have mortgages, people/funds depending on this income, people taking loans against their property, etc... Stopping rent will stop these people and you'll have a cascade effect. You need to stop everything.

jddj 7y ago
Everything is stopping. Layoffs, across-the-board closures, mortgage holidays. Hyperbole, but the property owners who get paid to stand still are the only ones still expecting to get paid.