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I don't know how I feel about the concept of late rent fees... On one hand, you did agree to the payment schedule when you signed the lease, but on the other h

I don't know how I feel about the concept of late rent fees... On one hand, you did agree to the payment schedule when you signed the lease, but on the other hand, tacking on fees to someone who is already struggling to pay, to support mainly parasites responsible for creating a lot of the issues facing young people, is also not great.

bpodgursky 1y ago
People are lazy. Without penalties, nobody will ever pay a bill. Doesn't matter if they are rich or poor. They could have $1mm cash sitting on their desk and unless you motivate them, they're just not going to open the bill. That's just the reality of sending bills or invoices. Half the time it's not about malice, just no reason to bother being timely.
- dotnet00 1y ago
  This is simply not true, the vast majority of people continued to pay their bills and rent on time through Covid despite financial pressures and suspension of most penalties. The cases of abuse are so egregious precisely because most people were just normal well meaning people doing their best to meet their obligations.
- grafmax 1y ago
  There’s really nothing lazier than making money simply by owning more than others. Such a person doesn’t have to produce anything of value. They can simply just use their outsized wealth to buy something others need, then charge money for access to it. This drains cash from those who have no other option than working for a living while their own coffers grow. Not just lazy, this actively makes the economy less efficient by increasing the cost of living and necessitating higher wages from employers simply to finance parasitism, which means value-producing businesses become less competitive also.
  - terminalshort 1y ago
    I can think of one thing lazier. Complaining on HN about what other people do to make money while having no understanding whatsoever of the business they engage in.
  - bpodgursky 1y ago
    Why don't you get into the game? Sounds easy. Buy an apartment and rent it out! Put some money where your mouth is.
everforward 1y ago
Not a landlord, but landlords have financial obligations they need to meet as well, and not getting rent can create issues there. They still have to pay taxes, insurance, repairs, etc. I think late fees are fine, but shouldn't be enforceable in the event the lease is cancelled by either party (ie eviction or early termination). Tenants would still owe back rent, but not punitive fines for being unable to pay. I'd also say there should be some method to punish landlords for illegal terms in leases, like late fees in excess of what the law allows. I watch court streams sometimes and the percentage of landlords who have illegally high late fees is shocking and I've never seen a punishment beyond "you can only tack on late fees of $X by law".
- dotnet00 1y ago
  Yeah, I get that landlords have financial obligations too, which is why I'm torn on it. The mechanism exists so good landlords (who take the responsibility of having a tenant seriously) aren't scammed out by bad renters, but, it seems like most landlords aren't that way, instead utilizing every tool available to maximize their property value and minimize the ability for renters to own their own properties, regardless of the social harm they cause.

bpodgursky 1y ago

People are lazy. Without penalties, nobody will ever pay a bill. Doesn't matter if they are rich or poor. They could have $1mm cash sitting on their desk and unless you motivate them, they're just not going to open the bill. That's just the reality of sending bills or invoices. Half the time it's not about malice, just no reason to bother being timely.

dotnet00 1y ago
This is simply not true, the vast majority of people continued to pay their bills and rent on time through Covid despite financial pressures and suspension of most penalties. The cases of abuse are so egregious precisely because most people were just normal well meaning people doing their best to meet their obligations.
grafmax 1y ago
There’s really nothing lazier than making money simply by owning more than others. Such a person doesn’t have to produce anything of value. They can simply just use their outsized wealth to buy something others need, then charge money for access to it. This drains cash from those who have no other option than working for a living while their own coffers grow. Not just lazy, this actively makes the economy less efficient by increasing the cost of living and necessitating higher wages from employers simply to finance parasitism, which means value-producing businesses become less competitive also.
- terminalshort 1y ago
  I can think of one thing lazier. Complaining on HN about what other people do to make money while having no understanding whatsoever of the business they engage in.
- bpodgursky 1y ago
  Why don't you get into the game? Sounds easy. Buy an apartment and rent it out! Put some money where your mouth is.

everforward 1y ago

Not a landlord, but landlords have financial obligations they need to meet as well, and not getting rent can create issues there. They still have to pay taxes, insurance, repairs, etc. I think late fees are fine, but shouldn't be enforceable in the event the lease is cancelled by either party (ie eviction or early termination). Tenants would still owe back rent, but not punitive fines for being unable to pay. I'd also say there should be some method to punish landlords for illegal terms in leases, like late fees in excess of what the law allows. I watch court streams sometimes and the percentage of landlords who have illegally high late fees is shocking and I've never seen a punishment beyond "you can only tack on late fees of $X by law".

dotnet00 1y ago
Yeah, I get that landlords have financial obligations too, which is why I'm torn on it. The mechanism exists so good landlords (who take the responsibility of having a tenant seriously) aren't scammed out by bad renters, but, it seems like most landlords aren't that way, instead utilizing every tool available to maximize their property value and minimize the ability for renters to own their own properties, regardless of the social harm they cause.