JuvenileHell
Veteran
fukk landlords
Landlord's debt spirals out of control after renters refuse to apply for rental assistance
- Thread starter Standing on business
- Start date
fukk landlords
GnauzBookOfRhymes
Superstar
Knowing you getting that guaranteed payment
Like clockwork.
And usually at above market rates.
I have a 3 three family. 1 of my Section 8 tenant's voucher covers the entire mortgage.
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Section 8 renters sounding reallllll good right now, at least you get that deposit on the 1st. People think all section 8 tenants are going to tear up the house.I have a 3 three family. 1 of my Section 8 tenants voucher covers the entire mortgage.
Other 2 units are straight Cashflow
My friend had an old retired lady as a tenant, section 8, he never had to track down payments and she was low key.
He is in a similar situation as you, but he lives in one unit and rents the other 2.
SheWantTheD
Veteran
Where did you move to?
SheWantTheD
Veteran
There’s gotta be something to protect these landlords because this is ridiculous.
cant she take them to civil suit? The moratorium didn’t mean free rent it just meant postponed rent right?
cant she take them to civil suit? The moratorium didn’t mean free rent it just meant postponed rent right?
In ca landlords are getting back rent from the state, depends on the state
I bought my property almost a decade ago. I have section 8 tenants whom were referred to me by my uncle. I trust his judgement so I decide to give these ppl a chance and its been great so far. They take care of the units and pay their portion of the rent on time. When COVID hit they immediately reached out to me to work something out, just in case they were to lose their jobs. Which I respected immensely.
My 3rd unit I rent out to my sister and brother. That's a whole another story
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Lol family always takes advantage of each other.I bought my property almost a decade ago. I have section 8 tenants whom were referred to me by my uncle. I trust his judgement so I decide to give these ppl a chance and its been great so far. They take care of the units and pay their portion of the rent on time. When COVID hit they immediately reached out to me to work something out, just in case they were to lose their jobs. Which I respected immensely.
My 3rd unit I rent out to my sister and brother. That's a whole another story
MajesticLion
Veteran
They are going to remember being taken advantage of and be completely ruthless when the pendulum swings the other way.
filial_piety
Banned
im not a landlord but this is just fukked up..
i always thought that a percentage of that stim should have gone straight to the landords...now you have mfs that done spent all that bread on whatever and just go
when they have to pay up....with the courts and the laws to back them...i swear it would take every grain of decency for me not to drag them out of there with bats and chains and throw their shyt on the curb
i always thought that a percentage of that stim should have gone straight to the landords...now you have mfs that done spent all that bread on whatever and just go
when they have to pay up....with the courts and the laws to back them...i swear it would take every grain of decency for me not to drag them out of there with bats and chains and throw their shyt on the curb
Definitely sounds like she got in over her head with too many rentals too fast and ish went south even faster.
Probably no equity in them either
So she couldn't dump them by selling cause she would have been on the upside down hook big time.
I wonder how she got on the hook for the electric bill? I wouldn't include that in the rent
Probably no equity in them either
So she couldn't dump them by selling cause she would have been on the upside down hook big time.
I wonder how she got on the hook for the electric bill? I wouldn't include that in the rent
VladTheImpaler
The Sensational Prince
Landlord's debt spirals out of control after renters refuse to apply for rental assistance
SAN ANTONIO - A local landlord turned to the Trouble Shooters, desperate for help.
The CDC recently extended the moratorium that prevents landlords from evicting tenants who can't pay rent through the end of July. The financial safety net was intended to help Americans through the pandemic, but it has had some unintended consequences.
Local landlord Catherine Esposito said one of her tenants moved out and left her with a $1,900 utility bill and $3,600 in unpaid rent, leaving her on the hook after he lived rent-free for more than six months during the pandemic.
Esposito tried to get him to apply for rent assistance through the Texas Rent Relief program, but said he is unwilling to do his part and doesn't even return her calls.
"I'm trying to hang onto my properties," Esposito said.
Her financial situation has become more dire by the day because she has a renter in the same quadplex she said left her owing $7,200 and a family of five in rental arrears totaling $17,000 in unpaid rent.
Tears streamed down Esposito's face as she explained how unfair it is that tenants are getting a break, while the property owners are going deeper into debt.
In addition to her full time job, she has taken on odd jobs, like mowing lawns, just to pay the bills.
Real Estate Attorney, Todd Taylor said there are ways to evict tenants, even during a moratorium. If a lease is nearing the end, a landlord can choose not to renew, giving the tenant notice to vacate. Lease violations, like intentional damage or unauthorized pets, are also not protected by the moratorium.
Taylor explained that it is possible to evict a non-paying tenant during the moratorium if they are not actively seeking available rental assistance, as was the case with two of Esposito's tenants.
Taylor said the Texas Rent Relief program does take a couple months to process, but if you have the time, it is a good program that benefits both the tenant and the landlord, as long as both are willing to be part of the application process.
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Allow people to rent from you without it being contracted that they have renters insurance and verified as city treasury records brehs.
Play stupid games and win stupid prizes.