4 ms·
I don't mean to be rude but relying on collecting month-by-month rent from your tenantS to buy your groceries seems like poor financial management. You've boug
by samsonradu 7y ago
I don't mean to be rude but relying on collecting month-by-month rent from your tenantS to buy your groceries seems like poor financial management.
You've bought an asset which is not returning as expected for the time being, but has for the past n years. What do you expect now, a bailout?
- leetcrew 7y agonot all landlords are rich and/or have rent as their entire income in normal times. my friend is a "landlord", in the sense that she rents out the spare room in her house to help pay the mortgage. now her entire industry is shut down and her tenant isn't getting paid either. no matter how responsibly they manage their finances, most people can't handle suddenly having multiple sources of cashflow go to zero.
- samsonradu 7y agoThey can always sell their property and rent for a while to weather the storm. Relative to the tenant, at least they have something to sell.
- bawolff 7y agoAh yes, because there are so many people in the market to buy rental properties in a giant economic downturn. Nevermind the reason you are selling is because its impossible to rent out.
- samsonradu 7y agoI'm sure a buyer can be found at the right price, it's called supply and demand. We wanted a free market for housing and ended up with EUR 500k studios in Paris. Can't people wrap their minds around the fact that house prices also go down?