Just suspend contract law for a few months, it's cool.
Just suspend contract law for a few months, it's cool.
There was sarcasm implied in my post because it's unrealistic to think all these mortgages will get paid for by evicting tenants. Either everyone is going to need to get mortgage payment deferrals, we get some kind of mortgage/rent pause, or there are going to be a lot of foreclosures happening.Eviction is a long and complex process and how many judges do you think will be willing to listen to mass eviction cases in the middle of a pandemic?
Lawyers hate this one trick, click to find out.
Coincidentally they're literally right next to each other at my area's mall.
There was sarcasm implied in my post because it's unrealistic to think all these mortgages will get paid for by evicting tenants. Either everyone is going to need to get mortgage payment deferrals, we get some kind of mortgage/rent pause, or there are going to be a lot of foreclosures happening.
That works on things owned by the government. Less so on things privately held.
'Unless they can get lenders to offer deferment and put a freeze on local tax collection, I don't see that happening. All of these counties have only put off evictions, not rent collection.
You take that back. Cobra Commander was fucking competent. He would've had Covid-19 figured out months ago.poes law these days, man. My range for sarcasm is all thrown out of whack lately due to our country being run by Cobra Commander.
Fuckers at my place want $58 to do a credit card charge for rent. Before learning that I was like, "Yeah, rewards for paying my rent!" After that I was like, "Fuck off and continue putting forth the expense and effort of depositing a check."We don't need it guys, my apartment complex left us a note they were removing the 2.00 credit card processing fee this month! We're saved!
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
Republicans: "We love our small businesses"
Small businesses: "We can't pay rent"
Some landlords have mortgages though. It's a whole chain reaction of things.
You can freeze evictions, though. That what Canada is doing and other nations that care about their populace.Rent and mortgages tend to be tied to contracts with explicit terms and dates. This seems like a legal nightmare to implement even though it needs to be done. Even if you keep the end dates the same, all that means is people are going to be behind since they're going to owe for the months that were on freeze. Does anyone know how this would legally work?
This. Some folks acting like all landlords are just sitting on a pile of money Scrooge McDuck style being selfish. For many it's always been a balancing act of income generated by rent going right into mortgages/repairs/service like any small business.
There should be a freeze on everything for a limited time. But Washington is ineptitude will make this historical event far more economically painful than it needs to be.
the absolute flex, you love to see it
their menu is dank as hell too
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
You can freeze evictions, though. That what Canada is doing and other nations that care about their populace.
Correct. You're right on that.Lots of places are freezing evictions but if I understand things, that freeze doesn't negate the money owed for that period.
No worries, I've missed some sarcasm in a few posts recently, as well. It can somtimes be tough to tell nowadays!poes law these days, man. My range for sarcasm is all thrown out of whack lately due to our country being run by Cobra Commander.
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
Landlords should be helped too!
That's the issue. Shitty safety nets all around.
Ya, so it breaks down to two possible takes:
1) Freeze mortgages for everyone, but when the freeze is lifted suddenly you're going to owe all that money for however long the freeze is. That's for sure going to cause a lot of problems with suddenly slapping people with large bills.
2) Freeze mortgages for everyone and then extend the term by however long the freeze is when it's lifted. This seems ideal, but then I think the problem is every rent and mortgage contract has specific terms and dates specified which means you have to amend every single contract in existence that is current which seems like a legal nightmare.
Is there a third option that works that I'm not thinking of? Like I said, it needs to happen, but which path do you take and how do you make that a reality?
I suspect you could accomplish #2 via legislation without needing to amend every contract.Ya, so it breaks down to two possible takes:
1) Freeze mortgages for everyone, but when the freeze is lifted suddenly you're going to owe all that money for however long the freeze is. That's for sure going to cause a lot of problems with suddenly slapping people with large bills.
2) Freeze mortgages for everyone and then extend the term by however long the freeze is when it's lifted. This seems ideal, but then I think the problem is every rent and mortgage contract has specific terms and dates specified which means you have to amend every single contract in existence that is current which seems like a legal nightmare.
Is there a third option that works that I'm not thinking of? Like I said, it needs to happen, but which path do you take and how do you make that a reality?
They are mostly in malls, which is why I'm not sure how this will work. Malls are barely scraping by with lots of empty store space.
Not in those cases where there are already tenants lined up at the end of the leaseI suspect you could accomplish #2 via legislation without needing to amend every contract.
My lender is offering forebearance for 3 months, and then after that you get hit with it all in one bill. Also I believe you still take the credit hit for not paying.Brb, writing a letter to my bank regarding how I will no longer be paying my mortgage. Let's see how it works out.
If enough businesses refuse to pay, Malls and Landlords will have no choice and let people stay. They can't just kick everyone out, they would die off over night.
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
I think they'll blink because they don't want even the potential of people organizing (which is already happening everywhere) to begin REAL rent strikes, which would show people "oh yeah that's right why to landlords exist again".It's very depressing though that the concept of rent freeze might only gain traction because a corporation wills it to be.
Because we're paying the mortgage. People choose to rent for a reason.I think they'll blink because they don't want even the potential of people organizing (which is already happening everywhere) to begin REAL rent strikes, which would show people "oh yeah that's right why to landlords exist again".
True, but I think that could still be accomplished via legislation with smartly crafted language; however, the more I'm thinking about it, it doesn't necessarily make sense to me to make the default scenario be a bilateral extension of the lease term.Not in those cases where there are already tenants lined up at the end of the lease
I mean mostly because landlords, such as yourself, own 2/3rds of all available property and lands in most major US cities. And that your primary function is literally just facilitating something that other people created with their own labor independent from you and could easily maintain with labor independent from you other than your potential injection of capital to simply acquire the property.Because we're paying the mortgage. People choose to rent for a reason.
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL
That's what I'm dealing with. I have to pay almost $10,000 for our monthly lease, right now for March which we've been closed most of now, and its looking like good chance we will be closed all of April, so that's $20,000 in rent I have to pay while my business is forced closed cause of all of this. I have to keep paying this as per my lease if we are forced to shut down in May also? Longer? I have a lease till Feb, I have to basically be bleeding money and if I just closed shop I pay a huge penalty to break my lease.
Some landlords have mortgages though. It's a whole chain reaction of things.
I mean mostly because landlords, such as yourself, own 2/3rds of all available property and lands in most major US cities. And that your primary function is literally just facilitating something that other people created with their own labor independent from you and could easily maintain with labor independent from you other than your potential injection of capital to simply acquire the property.
As well, we can just create communal spaces within which everybody is entitled to a place to live, instead of forcing people to literally use 2/3rds of THEIR hard earned spoils from THEIR labor simply to have a place to live. Like any rational, humanistic society should simply provide people for nothing because the idea of housing as something commodified is absurd on its face. And is nothing more than an avenue for a transference of Capital towards and ever shrinking funnel of interests.