Renting and Corona

Maddevill

Maddevill

KNGKAW
Hi all,
Another little survey to keep you occupied.
For those of you that rent, has your landlord mentioned anything about a hold on paying or a reduction etc ? I talked to my apartment manager and she seemed offended I would even bring up such a thing. I guess the idea of "Shared Sacrifice" doesn't apply to apartments or rental houses. My daughter is out of work, she paid half the rent. Hayward has put a hold on evictions due to the virus so we couldn't be evicted but, at the least, I'll bet they want all the back rent when this is over. And I don't see people getting back pay.:twofinger

Thoughts ?

Mad: |
 
bikeama

bikeama

Super Moderator
Staff member
I have $3600 in property taxes due next month. I have not been told I can hold off on paying.

But My renter works for the school district and is still being paid. If the district stops paying I will have a conversation with my renter.
 
budgie45

budgie45

panty sniffer
I wonder how many people will end up homeless because of the virus and no work to pay rent

Government should make the landlords give renters a break in these times
 
sckego

sckego

doesn't like crashing
IMO, if you're in a tight spot financially, spend money on food and necessary medicine. I can't see anyone getting evicted because they can't make rent right now, or getting their utilities shut off or property repossessed. If you can continue to make payments on your debts, great, help keep things going. If you are trying to decide between the electric bill, rent, and food for the next week, I know which one I'm choosing to spend on...
 
Starpower

Starpower

Well-known member
Abacinator said:
What about landlords that depend on the rental income?
Click to expand...

I'm one of those, retired on SS and a rental. Losing that rental income would be a significant hardship for us. However, we are all in this together and I'll work with my tenant to make it livable. No chance I would evict in these times things are hard enough.
 
bikeama

bikeama

Super Moderator
Staff member
budgie45 said:
I wonder how many people will end up homeless because of the virus and no work to pay rent

Government should make the landlords give renters a break in these times
Click to expand...

As long as the government is going to cut the taxes, but that is not happening. Other expenses for the landlord are still going on. HOA, mortgage, maintenance, insurance, and some times yard care. Owning a rental is not a freebie.

When this is over the renters are still going to owe the rent due even if the landlord says they do not need to pay for two months and catch up later. Don't pay for two months and that lost rent will be added later on. The renter may or may not be working after this is over. Folks this may be a real shit show.
 
E

ejv

Untitled work in progress
Haven't bothered my landlord. He is Chinese so part of me wants to know that he is even ok. Don't want to be sending a check monthly only to find out he hasnt paid the mortgage because he is laid up somewhere. He hasn't asked me anything regarding us still being employed so I guess he isn't too concerned.
 
dravnx

dravnx

Well-known member
If you have a tenant who is occasionally late with the rent but has a 55" TV, the latest I thing and leases a car way above their paygrade, how much leeway do you give them?
If you have a tenant who always pays their rent on time, takes care of the property and has been there for a long time, that is an entirely different conversation.
This is a complex issue that should not be regulated by the gov't. There are too many variables.
 
budman

budman

General Menace
Staff member
I have three small commercial tenants in my building.

Already talking with my partner about providing a break in April. I still have to pull out the lease to double check it. I think it has an act of God clause and that may just mean something I have to do. I do feel for them of course. A couple have come in, but their staff is not. These are small suites and not big money, but I don't gouge in the first place. All are at least a 1.25 less than the rest of the available office space rates in my hood. Two are 2 bucks less and have been here a while.

Since our building is older (30 plus years) and paid off I can weather several months without rent and not pull $$ out of my ass. At 4-5 months I will start to bleed a bit.

Kept the gardener coming, but cancelled the janitorial for now. One had requested no janitorial already due to the virus. No doubt the City is still charging full trash costs to pick up nothing...but I do expect utilities to drop.

I am worried for some of my kids.
3 have large mortgages to cover.. one is a renter so not sure where she stands, but she is getting some work from home stuff in. Her fiancee is not working right now (construction). Bet my wife is covering some of her food as we have typically ordered stuff together. She knows I have a don't suck up to the kids policy in general and make them cover their own path in life, but all of a sudden I got a chill... what if they go Daddy Mommy Daddy help me.

Now I feel a bit more worried as I had not thought about that.
So many moving parts to consider... and things like this keep popping into the equation.
 
Maddevill

Maddevill

KNGKAW
Yeah, our apartment complex is paid off and I understand how the owners have bills too. I'm a log time tenant and was kind of put off by the attitude of the manager. She did seem to become aware of how she sounded and acted a bit friendlier after.
But being a renter can be stressful too. And not getting a paycheck through no fault of your own doesn't help.

Mad
 
Beauregard

Beauregard

Aut Agere Aut Mori
Maddevill said:
Hi all,
Another little survey to keep you occupied.
For those of you that rent, has your landlord mentioned anything about a hold on paying or a reduction etc ? I talked to my apartment manager and she seemed offended I would even bring up such a thing. I guess the idea of "Shared Sacrifice" doesn't apply to apartments or rental houses. My daughter is out of work, she paid half the rent. Hayward has put a hold on evictions due to the virus so we couldn't be evicted but, at the least, I'll bet they want all the back rent when this is over. And I don't see people getting back pay.:twofinger

Thoughts ?

Mad: |
Click to expand...

I called all my residential tenants and told them no rent for March, and probably April. It seemed like the right thing to do.


Why is this thread in Grab Bag?
 
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madsen203

madsen203

Undetermined
I paid rent early to landlord. Sure he appreciated that. I'm fortunate enough to be consider essential services. I negotiated that we are allowed to host my dog (who my parents take care of due to lease agreement) while my parents are in isolation due to age.

Hindsight is 2020, but saving 1-2 months expenses is critical. Although, almost impossible for many.
 
T

TylerW

Agitator
Heard a story of a person who manages 30+ AirBNB properties around the bay area. The kicker is, he doesn't own a single one of them, he's renting all of them, and subletting them as AirBNBs without permission of the landlords.

He's in for one hell of a rental expense in a week now that his income has been cut to nothing. No sympathy for him.
 
Climber

Climber

Well-known member
TylerW said:
Heard a story of a person who manages 30+ AirBNB properties around the bay area. The kicker is, he doesn't own a single one of them, he's renting all of them, and subletting them as AirBNBs without permission of the landlords.

He's in for one hell of a rental expense in a week now that his income has been cut to nothing. No sympathy for him.
Click to expand...
If true, he's probably already left the state with a suitcase full of money.

People like that never stick around when things go bad, a ton of people and utilities are going to have to work hard to find him is my guess.
 
Map8

Map8

I want nothing
Staff member
How hard is it to find qualified new renters in this environment? Does that affect possible evictions?
 
gnahc79

gnahc79

Fear me!
Map8 said:
How hard is it to find qualified new renters in this environment? Does that affect possible evictions?
Click to expand...

I think many cities have blocked evictions during the lockdown, San Jose included.

A friend had their rent for a single family home reduced by $500/month (San Jose) for April and May.
 
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