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

[UberEatsDriver]

You don’t think landlords have to pay costs?

exactly which is why rent stabilization has old buildings in NYC looking crap. Landlords can’t afford the cost

 

[Wild self]

And as a landlord charging more than 40% of a person's monthly income, how you not have any money saved up or profited? You better off leaving real estate altogether, cause that it a vital good for humans to have a place to live.

 

[87 others]

Thw French Revolution is upon us

Landlords, crooked businessmen, entertainers are getting their long overdue KARMA.

I see this sentiment a lot lately and I'm just curious as to what (in your mind) these people did to deserve "karma" - as you put it. So you're a bad person because you saved up money and invested in some property to rent out? You're doing something wrong because you're an "entertainer"? Why do businessmen always have to be crooked too? There is a lot of jealousy from underachievers in this world.

 

[TELL ME YA CHEESIN FAM?]

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.

Must be

 

[87 others]

And as a landlord charging more than 40% of a person's monthly income, how you not have any money saved up or profited? You better off leaving real estate altogether, cause that it a vital good for humans to have a place to live.

How does the 40% fall on the landlord again? It's the landlord's fault that you decided to move into a place that's too expensive for you to afford comfortably? If anything, the landlord is taking a huge risk if the income is disclosed before moving in and that tenant should probably be kissing his ass.

 

[Wild self]

How does the 40% fall on the landlord again? It's the landlord's fault that you decided to move into a place that's too expensive for you to afford comfortably? If anything, the landlord is taking a huge risk if the income is disclosed before moving in and that tenant should probably be kissing his ass.

Tell tha landlord that he isn't God. Plus, its best for these landlords to go away and stop being a vulture on making a profit. A place to live is a human right, and its best to leave real estate altogether if it is too expensive to maintain.

 

[Wild self]

I see this sentiment a lot lately and I'm just curious as to what (in your mind) these people did to deserve "karma" - as you put it. So you're a bad person because you saved up money and invested in some property to rent out? You're doing something wrong because you're an "entertainer"? Why do businessmen always have to be crooked too? There is a lot of jealousy from underachievers in this world.

Its not jealously for having money or being rich, and this pandemic exposes how they are ruthless over something that no human has control over. People are fed up being treated less than a person, and landlords calling tenants "underachievers" is like pouring gasoline and gunpowder into a volcano. Ots gonna explode and the backlash would be irreversible.

 

[whatthatthangsmelllike]

fukked up by saying that’s the only source of income

 

[ThrobbingHood]

It’s called having a mortgage

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

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

I already knew before I opened this thread how the vast majority would be with the tenants. I rent out a few properties so whilst I understand where the Landlord is coming from, he/she must be a real dikk for all the tenants to go against them at once.

more than likely though, this story is straight up duck tales.

 

[5n0man]

I could go on Craigslist right now and find a grip of apartments under 1300 in LA
Not in shytty ass San Bernardino either

Find me some places around $1000 in L.A in a decent area.

 

[Wild self]

fukked up by saying that’s the only source of income

Making deep into the 6 figures AFTER paying taxes and legal responsibilities as a landlord, and not having anything saved up, is poor handling of money. Bottom line. Driving luxury cars and sending kids to private schools and all that extra bullshyt isnt financially sustainable in the long run.

 

[Kamikaze Revy]

A lot of y’all on here sound like you’re always going to be a renter and never an owner. It’s a sad state of affairs.

 

[whatthatthangsmelllike]

Find me some places around $1000 in L.A in a decent area.

I don’t even think u can get a studio with that

 

[rlg]

The landlord messed up. If she owned 32 doors then she probably should have some money saved or at least a line of credit to tap into.

If the LL doesn't have any equity to tap then it's likely they have other property they can liquidate for cash to other investors or business owner friends to raise the money.

What I suspect is the LL purchased the property for cashflow and is banking maybe $100 - $200 per door and is overleveraged without paying off any of their older properties.

The third option is to call the lender and let them know what the situation is, but once coming out on the other there is a ding on the credit report and the lender will not want to loan you more money to grow your business.

 

[Egomaniacal1]

I don't know why some of you emotional nikkas is so mad at landlords, this ain't personal; it's business!

Now i'm gonna keep it simple for the dummies in the back, if the bank ain't forgiving that mortgage then i can't forgive that rent and assuming that is her situation she should have communicated as such. I have my mortgage on my rentals with a small local bank and to my knowledge they haven't sent me anything saying i don't have to pay so i expect full rent on time. To me this situation with ole girl is more about the principalities...the unmitigated gall to form a sort of renters union and tell her they ain't paying without trying to negotiate?!?!

It only takes just around 40 days to evict over this way, i'd try to come to terms on half rent at the very least but i agree with the sentiment that this chick must be a grade A bytch to them tenants for them to come at her like that if this story is even true at all.