Claim that one third of renters didn't pay rent

[Sticka]

Yep, my wife and her sisters own one piece of commercial property under a name brand fast food chain and they took the same position; no rent for three months, half rent for six months, take it or leave it, no paying back the lost rent.

The "lost" rent has to be paid back.

 

[Holeshot]

I dunno how you can demand a change on a signed contract.

Majority of the Starbucks still have huge drive through lines.

Also I was told Starbucks employees getting $3 hazard pay per hour bonus.......

I wonder if any other business is paying extra like this

Take a see through center (many spaces not leased); assuming it has debt on it (many do), the LL can't afford a legal battle nor the loss of too many tenants on their loan docs.

Large companies are great cause of financial worthiness and they can be tough due to their size.

 

[GAJ]

The "lost" rent has to be paid back.

According to the Lease yes, but my wife and her sisters, like many landlords, do not have deep pockets to hire a lawyer at $400/hour to go after the guy when moratoriums are lifted.

That is where these unethical people with stores that never closed and are doing 80 percent plus of "normal" business see their opening to take advantage.

They caved to no payback which is sickening but what are you going to do?

Oddly just yesterday a commercial Real Estate agent has a customer who wants to buy by July 31st and yet they refuse to respond to her and say "we don't want to sell now."

Completely irrational but that's where we sit.

Starbucks is even worse it seems as they are asking for a year of unspecified concessions.

I expect the landlord my wife is dealing with will see that and take the same approach; why not?

 

[Climber]

Interestingly, housing prices down here are higher than last years prices.

The real estate values don't seem to have dropped off at all..is that a function of the record low interest rates?

I would have predicted at least a 20% drop in values, when this pandemic first hit, much like many of us thought the stock market would plummet much further than it did.

 

[GAJ]

Interestingly, housing prices down here are higher than last years prices.

The real estate values don't seem to have dropped off at all..is that a function of the record low interest rates?

I would have predicted at least a 20% drop in values, when this pandemic first hit, much like many of us thought the stock market would plummet much further than it did.

Foreclosures on "hold."

Time will tell but supposedly a lot of AirBNB properties are expected to flood the market so I would expect some kind of drop but not the 50 percent plus drop in 2009-2011.

 

[Climber]

Foreclosures on "hold."

Time will tell but supposedly a lot of AirBNB properties are expected to flood the market so I would expect some kind of drop but not the 50 percent plus drop in 2009-2011.

But with things opening back up, does it make sense for them to dump those properties?

 

[GAJ]

But with things opening back up, does it make sense for them to dump those properties?

I guess if you have a mortgage it certainly might.

Don't see a lot of AirBNB rebound before a vaccine is found to be honest.

Our three rental homes are long term; the whole AirBNB thing, which I have used, seems like a PITA vs finding long term good tenants.

 

[Holeshot]

I guess if you have a mortgage it certainly might.

Don't see a lot of AirBNB rebound before a vaccine is found to be honest.

Our three rental homes are long term; the whole AirBNB thing, which I have used, seems like a PITA vs finding long term good tenants.

AirBnB margins can be made in the cleaning fees (many are). Covid19 surcharges may make AirBnB attractive.

 

[Kurosaki]

3rd roommate is in forbearance on her part of the rent. The other two of us are paying our share like normal.

Don't know all the details of their agreement but the entire home lease is on month to month while this whole situation shakes out. If we had to re-up at the end of May, as per usual, we'd be fucked. He wants to keep us and we want to stay.

 

[Caddywumpus]

But with things opening back up, does it make sense for them to dump those properties?

Do you anticipate a lot of travel post covid?

 

[Climber]

Do you anticipate a lot of travel post covid?

IDK, but things seem to be opening up and people have been cooped in for a long time.

If you're traveling, which would be safer? Hotel or BnB?

I don't know the answer to that, nor do I know how much occupancy most of them need in order to break even or make a profit, perhaps there are some on here who know more.

 

[Beanzy]

Just heard on ABC Radio news that Americans are buying food on credit. Which means they haven't the cash to pay otherwise. That's more than 28 million people carrying an average of $5.7k credit card debt.

 

[Kurosaki]

Is there a way to parse that statistic between people who are buying food on credit because they have no other choice and those that are okay and using their credit cards for cash back/benefits.

The statement itself doesn't mean much to me on the surface but I'm ignorant of the context in which ABC radio brought that up.

 

[Butch]

Just heard on ABC Radio news that Americans are buying food on credit. Which means they haven't the cash to pay otherwise. That's more than 28 million people carrying an average of $5.7k credit card debt.

I use a credit card for as much as I can, including, and especially, for fude. I also pay off all credit balances every billing cycle.

Does ABC Radio think I don’t have the cash? Fake news?
I have seen some interesting statics about how much debt folks live with. But again, where does this data come from?
I sure don’t answer any surveys.

 

[Beanzy]

US News & Report survey, apparently.

https://creditcards.usnews.com/arti...consumers-owe-more-than-10000-on-credit-cards

Plus Forbes article:

https://www.forbes.com/sites/billha...it-card-payments-racking-up-significant-debt/

 

[The Smokester]

Just heard on ABC Radio news that Americans are buying food on credit. Which means they haven't the cash to pay otherwise. That's more than 28 million people carrying an average of $5.7k credit card debt.

Fude stores I go to won't take cash anymore...

 

[Kornholio]

Fude stores I go to won't take cash anymore...

How is that legal? I thought any retail establishment in this country is required to accept legal US tender?

EDIT: Apparently that's not the case...

https://blogs.findlaw.com/free_ente...al-for-businesses-to-refuse-to-take-cash.html

Except for San Francisco...

https://www.sfexaminer.com/the-city/sf-approves-ban-on-cashless-stores/

But I totally agree that not accepting cash is incredibly discriminatory but for much larger reasons than the Examiner article gets into.