4 ms·

Yeah I still can’t believe they did that, basically allowing someone to occupy your property and there’s nothing you can do about it. At least the state I was i

Yeah I still can’t believe they did that, basically allowing someone to occupy your property and there’s nothing you can do about it. At least the state I was in paid me for all the outstanding rent, but this kind of thing is also increasing prices because I know that the tenants had money and were still spending it, just not to pay their rent. I still haven’t been able to get a rent check and they are planning on submitting it all to housing relief again. I increased the rent to match the market (still very low for a single family home, 3 figures) and I expect the government is going to pay me. I can’t wait to get out of this situation because I hate it and feel like I have no control over my property but the government incentivized them to not pay rent. For now, I am also incentivized to not put them out on the street and deal with all that if I think I am ultimately going to get a fat check from the state. I expect this is not going to end well for anyone.

999900000999 5y ago
I will never become a landlord after seeing this unless I'm wildly wealthy and it's something like I'm owning it as a part of my portfolio. It's just way too easy to stretch out an eviction even without moratoriums. I have a friend, and I use the term loosely, who foolishly purchased a house to rent out despite having to go into massive debt to do so. We're talking credit card debt because he couldn't afford to refurbish the building. If a single tenant has a bad month, he's having a bad month. I'd rather invest in anything else. I actually think standalone single-family homes are kind of outdated. I want the freedom to live without a car, In an urban setting. Nothing like being able to walk to your local bar, Walk to the supermarket, and then take a train to a concert.
mullingitover 5y ago
> Yeah I still can’t believe they did that, basically allowing someone to occupy your property and there’s nothing you can do about it. The eviction moratorium didn't take anything from landlords, which is why the courts allowed it. They simply had to wait for payment and couldn't evict. The tenants still owed rent. The alternative was potentially having roving bands of millions of angry, newly homeless people violently overthrowing the government, in which case landlords would be in an even worse predicament. > I can’t wait to get out of this situation because I hate it and feel like I have no control over my property but the government incentivized them to not pay rent. You can seriously look at housing prices and think to yourself that now is a good time to short the housing market?
- Auracle 5y ago
  Good luck actually collecting once you can finally evict. My parents never even bothering trying when that happens.
  - mullingitover 5y ago
    On the bright side, it's very likely that any losses in rental income have been more than compensated for by a huge windfall increase in equity. Beyond that, the losses in rental income can probably be written off on taxes.
adam_arthur 5y ago
Sold both of my properties right after this started for this reason exactly. Don't regret it at all, despite the recent appreciation. Crazy how long it took the courts to overturn that. The eviction moratorium was imposed by the CDC, keep in mind. So the CDC has authority over private rental stock now? It's something you'd see from the CCP in China

999900000999 5y ago

I will never become a landlord after seeing this unless I'm wildly wealthy and it's something like I'm owning it as a part of my portfolio. It's just way too easy to stretch out an eviction even without moratoriums. I have a friend, and I use the term loosely, who foolishly purchased a house to rent out despite having to go into massive debt to do so. We're talking credit card debt because he couldn't afford to refurbish the building. If a single tenant has a bad month, he's having a bad month. I'd rather invest in anything else. I actually think standalone single-family homes are kind of outdated. I want the freedom to live without a car, In an urban setting. Nothing like being able to walk to your local bar, Walk to the supermarket, and then take a train to a concert.

mullingitover 5y ago

> Yeah I still can’t believe they did that, basically allowing someone to occupy your property and there’s nothing you can do about it. The eviction moratorium didn't take anything from landlords, which is why the courts allowed it. They simply had to wait for payment and couldn't evict. The tenants still owed rent. The alternative was potentially having roving bands of millions of angry, newly homeless people violently overthrowing the government, in which case landlords would be in an even worse predicament. > I can’t wait to get out of this situation because I hate it and feel like I have no control over my property but the government incentivized them to not pay rent. You can seriously look at housing prices and think to yourself that now is a good time to short the housing market?

Auracle 5y ago
Good luck actually collecting once you can finally evict. My parents never even bothering trying when that happens.
- mullingitover 5y ago
  On the bright side, it's very likely that any losses in rental income have been more than compensated for by a huge windfall increase in equity. Beyond that, the losses in rental income can probably be written off on taxes.

adam_arthur 5y ago

Sold both of my properties right after this started for this reason exactly. Don't regret it at all, despite the recent appreciation. Crazy how long it took the courts to overturn that. The eviction moratorium was imposed by the CDC, keep in mind. So the CDC has authority over private rental stock now? It's something you'd see from the CCP in China