cancel
Showing results for 
Search instead for 
Did you mean: 
     
Highlighted
Participant ○

Dont Pay your Rent

Nevada governor signs bill stopping evictions for non payment of rents,both  Good luck to you landlords, I dont see how this could possibly be " good " for the overall economy.  Im not paying my rent, how about you?

UPDATE 11 P.M.: Gov. Sisolak has signed a new emergency directive putting a moratorium on evictions during the duration of the coronavirus pandemic, for both residential and business tenants.

“Thousands of Nevadans are wondering how they will make rent or pay mortgage next week,” said Sisolak.

0 Kudos
23 Replies
Highlighted
Contributor ○

Re: Dont Pay your Rent

I'm a landlord. If my tenants can't pay because of the CoVid then fine, they can delay the rent and pay it down the line when things are back to reasonably normal. I'd never evict someone in a situation like this. I'd like to think no one else would either absent extreme circumstances.

Highlighted
Frequent Contributor

Re: Dont Pay your Rent


@pudman wrote:

I'm a landlord. If my tenants can't pay because of the CoVid then fine, they can delay the rent and pay it down the line when things are back to reasonably normal. I'd never evict someone in a situation like this. I'd like to think no one else would either absent extreme circumstances.


So what about a retiree, who isn't laid off or off work or out of a job, with no virus related reason to not pay?  I applaud you for the regular working person/family.  I just wonder about the deadbeats.

Also, do you have a mortgage on your building?  If so, can you skip your mortgage payment.  Do you know of any stimulus/relief cash coming your way?  Again, just curious.

ElLobo, de la casa de la toro caca grande
0 Kudos
Highlighted
Contributor ○

Re: Dont Pay your Rent

I've no mortgage. Always been cash on the barrelhead. I trust the renters. They'll have to pay the rent down the road anyway, maybe a double payment next month or in installments so there is no incentive to be a dead beat. There will always be deadbeats - that s  no reason to not show empathy and compassion. I feel the same about welfare, SNAP and other programs whether governmental or non. In time of crisis the best and worst come out. I'd like to encourage and hope for the best and if letting renters delay a payment or two even if they don't have to makes me a sucker than that's fine with me and I'll sleep easy.

 

Highlighted
Explorer ○○○

Re: Dont Pay your Rent

Hi.

Around here, cigarettes are $7.50 per pack after tax. Beer? It is not easy to have to look at a $400.00 per month smoking and beer habit be the cause for not contributing to paying the rent. Would something be better than nothing?

0 Kudos
Highlighted
Explorer ○○

Re: Dont Pay your Rent

Good for you, a lot of this is going to have to be handled on a case by case situation.  Not all landlords own the place out right, so they have bills to pay.  Hate to say it, but just like everyday help that is out there, there are many many who will abuse it.  

 

Highlighted
Participant ○○

Re: Dont Pay your Rent

In Virginia, to evict a tenant, the landlord needs to take the tenant to circuit court.  Most courts were at first closed until April 6, then it was April 26 except for emergencies (protective orders, quarantine orders, criminal arraignment &c) ; its entirely possible the date will be extended until June 10.  (Note the court schedule is set by the Virginia Supreme Court, not the executive branch.)   For rental properties, that means that unless it is an emergency eviction - such as the damage of property - evictions are on hold.  Whether the Governor or the legislature will take this up when they come back into session in a few weeks remains to be seen.

The electric company and local water and gas supply services have temporarily stopped disconnection for lack of payment.  

 

0 Kudos
Highlighted
Frequent Contributor

Re: Dont Pay your Rent

If one can afford to pay any of their bills on time they should darn well do it! I can't imagine why any one would take advantage of this situation.

Highlighted
Participant ○○

Re: Dont Pay your Rent

Many states have stopped evictions for non-payment of rent, but I think the rent can only be delayed, not forgiven - so landlords will get their money eventually.  Landlords can apply to SBA for emergency loans due to the pandemic to continue meeting their fixed expenses and landlords in turn can also probably delay mortgage payments without penalty.  It is a mess all around, but under the circumstances that is probably the best we can do as a country.  

0 Kudos
Highlighted
Participant ○○○

Re: Dont Pay your Rent


@outandabout wrote:

If one can afford to pay any of their bills on time they should darn well do it! I can't imagine why any one would take advantage of this situation.


@outandabout 

Then you need a better imagination.  

People (including renters and landlords) are generally fine.  But there are two tails to that normal distribution, great people that go above and beyond and terrible people that do the opposite of going above and beyond.  

ctyankee  

0 Kudos
Highlighted
Participant ○

Re: Dont Pay your Rent

If tenants are struggling to pay rent now it doesn't necessarily follow they will have the owed rent down the line. There will be evictions when the moratorium is lifted, but some landlords may calculate that to retain defaulting tenants is more prudent if we're in a recession and be forced to forgive the rent owed. You will have more options for dealing with the unscrupulous opportunists in a recovery. I expect rents to drop by up to 50%. If you have rent protection insurance it would be wise to check if you're covered for pandemics.

0 Kudos
Highlighted
Participant ○

Re: Dont Pay your Rent

And as for the OP's comment seemingly encouraging tenants not pay rent, good luck with that. What goes around comes around.

Highlighted
Participant ○○○

Re: Dont Pay your Rent


@Mortmain wrote:

snip ..

I expect rents to drop by up to 50%. If you have rent protection insurance it would be wise to check if you're covered for pandemics.


@Mortmain 

You would be incorrect.  

https://fred.stlouisfed.org/graph/?g=Ssf

 

0 Kudos
Highlighted
Frequent Contributor

Re: Dont Pay your Rent


@hku wrote:

Nevada governor signs bill stopping evictions for non payment of rents,both  Good luck to you landlords, I dont see how this could possibly be " good " for the overall economy.  Im not paying my rent, how about you?

UPDATE 11 P.M.: Gov. Sisolak has signed a new emergency directive putting a moratorium on evictions during the duration of the coronavirus pandemic, for both residential and business tenants.

“Thousands of Nevadans are wondering how they will make rent or pay mortgage next week,” said Sisolak.


I don't like the tone of your OP Hku.  I am all for leniency if a tenant has been effected by COVID-19.  Rent moratorium or postponement for a reasonable time seems prudent but payment is not waived.  It must be repaid according to a mutually agreeable repayment plan or evictions will eventually come.  Landlords have expenses too.  Have you been effected by COVID-19 as reason for your refusal to pay rent?  

Highlighted
Participant ○○

Re: Dont Pay your Rent

I'll second mortmain's and paul's comments - if the OPs income was not affected by COVID-19 or even if it was affected but he can still pay, he should pay.  

0 Kudos
Highlighted
Frequent Contributor

Re: Dont Pay your Rent


@hku wrote:

Nevada governor signs bill stopping evictions for non payment of rents,both  Good luck to you landlords, I dont see how this could possibly be " good " for the overall economy.  I'm not paying my rent, how about you?

 


Better pay, or the wolf-man gonna get yah !

0 Kudos
Highlighted
Contributor ○

Re: Dont Pay your Rent

Can I assume from the OP's tone that he would be fine with price gouging and pandemic profiteering? I heard stories from grandparents about the banks/lenders during the Depression being utterly ruthless and not just against black folks. If a landlord can help carry tenants through a difficult time then here is a chance to do the right thing. I'd hate for my grandchildren to ask how I coped with a pandemic by answering "I threw some people out onto the street because I wouldn't delay their rent". And as an aside, during a pandemic how would a landlord fill the vacancy?

0 Kudos
Highlighted
Frequent Contributor

Re: Dont Pay your Rent

Pudman,

I’m in your “camp”, in that I always felt like the best course of action was to try and “work” with people who fell into hard times. I have run a family real estate L.P. since the late 1990’s, and we bent over backwards trying to work with people after the 2001 recession, and again after the 2008-09 recession.

However, I finally realized many of them were just taking advantage of my kindness/ generosity, so this past year I sold the remaining six rental units, and we’re unwinding the L.P. Running rental properties requires one to be VERY careful about tenants, it’s easy to be “bamboozled” by people who in essence are professional “always down on their luck” sad stories. 

Win
0 Kudos
Highlighted
Contributor ○

Re: Dont Pay your Rent

Win, AMEN to that. I've a friend who used to rent to anyone who could fog a mirror. His thinking was always to have units filled and don't waste time doin' it. Big mistake.  I've always screened the tenants quite well and been very lucky. I also grew up in the inner city not too far away and can pretty much rumble a con job when I see one. 

0 Kudos
Highlighted
Participant ○

Re: Dont Pay your Rent

tO WHOM IT MAY CONCERN;

Try using the IGNORE button.  Im not here to please you.  aLTERNATIVELY  If you can submit YOUR  detailed finances for an analysis.  Judgmental people  and ones who jump to conclusions are the ones who get judged.  You don know me, and i can say the same thing about you.

0 Kudos
Announcements

Morningstar is here to help you respond to the Coronavirus crisis.