PLEASE HELP. My tenants organized and are saying they won't pay rent this month. ALL OF THEM.

[dh86]

So instead of negotiating partial rent or something amenable, they decided to let the owner know they won’t be paying?

Is she some sort of slumlord or something? That’s so jacked up.

I’d be working with the lawyer to ensure none of their leases are renewed and to actively recruit new tenants as soon as humanly possible. Also doing what I can to make sure they have adverse reports on their credit/rental file.

Good luck on any of the last paragraph during a depression

 

[sportscribe]

It's funny to see how split opinions are over this. It's also funny to see so called capitalists bring up socialist talking points when it's convenient.

First thing dude should have done is lawyer up though, not run to Reddit for advice.

 

[50CentStan]

Time to call the eviction man from hell

If it's me and it I'm a ruthless slumlord. I'm calling the electric the gas the internet people cutting everything. Releasing cockroaches on that mf. Making their life a living hell. I only say that cuz they saying they not gonna pay it back later. Wtf kind of shyt is that.

 

[Rekkapryde]

Only on The Coli, landlords don't have mortgages, insurance, and rising property taxes.

I remember one of my tenants when I used to own some duplexes back in Chattanooga talked about she couldn't pay rent because she needed to get school supplies.

My wife was like, "Okay, I'll let Bank of America know that we can't pay the mortgage on the property because you have to buy school supplies"

(That cable and cell bill ain't a necessity ).


she got all mad and shyt talking about " YOU GONNA GET YO MONEY, YO GONNA GET YO MONEY!"

 

[BigMoneyGrip]

She’s a supreme dumb ass to have the rent from a 32 unit building as her only source of income...

If she mortgaged the building she should talk to the bank to give her a 4-6 month mortgage reprieve and just tack it on the back end of the loan..

If she owns the building outright she need to use the equity to get a loan ASAP

 

[Family Lives Matter]

Let that bytch survive off the 1200 dollar check like the rest of us

How do you have 32 units and are strapped for cash? That building should've generated millions for her

Damn you dumb as shyt

 

[Mowgli]

Tellum suck my dikk

Take the badge off

Inna new York accent

Bet they pay that shyt ASAP.

 

[Payday23]

It’s called having a mortgage

Some of you nikkas need to stick to monopoly, this grown folk shyt

How many small apartment complexes have mortgages that cost 32k a month?

Hint: a 46 unit apt complex is for sell right now at 3.8M. with 950k down including taxes in fees the monthly mortgage is 25K. That's not to mention whether or not rent is $1k or higher and whether it's paid off. Reddit post doesn't mention a mortgage

 

[JT-Money]

It’s true they’re suspending eviction enforcement/removals. However, speaking for my area, rent payments are not blanket suspended. There are other things landlords can do to make sure your life is difficult short of removal.

Tenant Protection

To be clear I’m not saying landlords shouldn’t be willing to work with tenants. But to decide that they simply won’t be paying isn’t the move either.

If the virus doesn't get contained for a full year and people are out of work. I just don't see cities doing mass evictions which will just aid the spread if the virus. It will be like the housing crisis all over again with people squatting in houses or apartments everywhere. The government has to get control over the spread of the virus or all bets are off.

Maybe if mortgage companies hold off on foreclosures also things wont get that bad?

 

[qwasi]

This Corona virus epidermic has exposed how entitled and ridiculously retarded the general population is. There really is a sub-section of people on this earth who believe that owning properties and being a landlord isn't considered work? People arguing that construction produces and landlords horde properties and drive prices up? This is how the free market operates. A good and service exists, you obtain its rights (investment) and control how its price and distribution relative to key variables. As a renter I support the decision to request rent payment reduction with and/or deferral for the remainder. However, there's a dangerous precedent which is being set here from outright collusion and refusal.

 

[Payroll]

We're getting close to our "let them eat cake" moment

You joke...but Cheeto is liable to tweet some shyt like that when the drought hits.

 

[RadaMillz]

at my only source of income

that's like 15-20K (assuming each apartment is about $700 in houston) minimum after taxes, insurance ,maintenance fee

I am sure she/he can live a month without renters paying up

 

[Payday23]

Okay dummy I'll dumb it down for you.

If the apartment building has 32 units how much did she pay, easily over 2 million for that building, probably didnt buy it out right and has a huge mortgage.

Second, probably has a third party building manager along with wear an tear that comes along with a 32 unit building.

Not to mention everytime a tenant leaves that unit has to get professionally clean

Now even after all of that anyone making over 500k is subject to a tax bracket of 40%

Which mean her take home is probably 270k-ish

Not including the mortgage on the house she actually lives in.

We dont know if she has kids and pays for there college or private school


Basically you have no idea wtf your talking about

You'd be surprised how cheap property owners are with fixing up their property

 

[richaveli83]

There is so much costs when it comes to renting out property. You have to pay insurance, property taxes, pay for maintenance, etc.

 

[Thanos]

This thread is very telling.