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I agree with all that, but surely if they don't have any wiggle room to offer grace they don't have wiggle room to let the property be vacant for 6+ months, by
by paulgb 6y ago
I agree with all that, but surely if they don't have any wiggle room to offer grace they don't have wiggle room to let the property be vacant for 6+ months, by which time there will inevitably be a glut of supply on the market.
- bilbo0s 6y agoI'm almost sickened pointing this out, but legally speaking, a large part of the 6+ months would be the responsibility of the tenant they sued. It could get ugly for the small business owner.
- hsitz 6y agoTrue generally regarding tenant responsibility if new tenant can't be found, but good luck recovering anything at all from a tenant who was evicted because they couldn't pay rent. It seems to me that any landlord who understood the economic situation would work with tenants to keep them on paying something, even if they couldn't afford full rent. I expect landlords will end up better economically in the end that way.
- lmm 6y agoIt should shake out that way, but sometimes there are places where the gears don't quite mesh. For example they might have loans secured on the property as x * monthly rent, and so if they rent it out cheaper then they have to post additional collateral which would be more than a few month's rent.