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Rainmaker
1,023,766
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Landlords in some cases can be flexible, but we are not charities, we are in business and we have responsibilities too. Landlords are not social services. Pay or quit eventually needs to be the natural order. Just like some recover from COVID while others die, who can make sense of it.

The government can be your charity, not entrepreneurs. We have mortgages to pay, home maintenance and family responsibilities to be solvent for. We employ many trades, professionals and house tenants. We carry a heavy load and not all of us are rich, we can't carry non-paying tenants long before the dominoes fall on all.

Jul 27, 2020 06:26 PM
Rainer
74,640
Ken Jones
Kenneth J. Jones, Inc., REALTORS® - Springfield, NJ
Commercial Real Estate Broker

Caroline Gerardo Due to the tyrannical imposition of state governments that have prevented private property owners from evictions of their dead-beat tenants (being those who are willfully refusing to pay rent using COVID-19 as an excuse), they've both destroyed the value of the property owner's investment and are creating a mortgage delinquency crisis.

Government has become the enemy of the small private real estate investor first by issuing orders to close businesses, many of which can no longer afford to pay rent and will ultimately go out of business, to issuing orders to prevent evictions.

The acts of these tyrannical morons will ultimately reduce the value of the real estate in their domain which will further reduce the tax base and ultimately result in the exodus of the most productive members of their current population leaving mass vacancy behind.

What will happen to the residential tenants who are actually evicted?

They have family. There are charities. And, they will likely be supplemented by yet more government welfare programs which have and will continue to create and maintain an underclass of dependency upon which many of these government tyrants depend as their voting base.

Jul 28, 2020 05:35 AM
Rainmaker
689,653
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Sadly, many tenants are quite able to pay rent but the system is allowing them not to, and they think that's all ok (yes, I've heard it from them directly).   It's an upside down world and I empathize with the property owners. 

Jul 28, 2020 04:10 AM
Rainmaker
3,597,610
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

This is indeed a difficult situation. Sometimes flexibility is the answer but landlords have reponsibilities too.

Jul 28, 2020 05:33 AM
Rainmaker
2,878,576
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

It will get ugly in my area.  One attorney filed a Writ with the 6th District Court of Appeal in San Jose. 

Solutions?  Better people in political seats. 

Where will they go?  Who knows? 

Jul 27, 2020 06:51 PM
Rainmaker
1,549,164
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

I have two tenants who have been working through the shut-down, they haven't paid in two months. Some are just taking advantage of the situation. One told me it is between paying rent and buying groceries, rent is not important since there's nothing I could do about it. Just a darn shame.

Jul 28, 2020 06:23 AM
Rainmaker
817,055
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

A lesson learned from the Bank of America caused recession is the BOLD benefited greatly. They held onto their mortgage payment, made a significant down-payment on their next house....and lived better. Investors benefited by grabbing the victimized houses.

Can you blame some for wanting to be bold today?
Unfortunately, the real question is whether this dumpster fire will affect those living in corpulent monotony behind 6 foot walls and controlled access gates.

Real estate agents of compassion will become versed with the inventory of resources available to help those in their community to find shelter. The rest of the real estate agents will tweak their marketing.

Desperate people who feel they have nothing more to lose grab at ANYTHING they believe can assuage their immediate need. Rioters have shown them the way.

Home ownership in some area have reached as low as 40%. That means 60% of the population may be affected this dumpster fire. That also means a significant portion of that 60% have votes that are FOR SALE.

Jul 28, 2020 05:50 AM
Rainmaker
3,168,043
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The problem i swhen the government picks winners and losers. Out of work, collecting 600 plus state unployment and some think they dont have to pay their rent. The mortgage is still due. The taxes, insurance and utilities still all due. The govt wont let landlords evict but did not help them/us with our mortgages. I have had tenants still find a way to pay, some who cant but willing to do anything and others enjoying their new 72 in tv, new car, new $3000 dog that wont answer their door. 

Jul 28, 2020 05:38 AM
Rainmaker
4,869,669
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Caroline,

I have no idea what will happen.  Hoping for the best as always.  I know that does not exactly answer your question.  A

Jul 27, 2020 09:49 PM
Rainmaker
784,936
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

If all those people are eveicted, where will landlords find enough tenants to replace them? I think the process will be slowed with some type of goverment assistance.

Jul 27, 2020 05:32 PM
Rainmaker
774,743
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

The effects of Covid 19 are and will contine to be far reaching...affecting far more than those who are actually infected with the disease.

It will be a long time before the rising tide settles back to whatever the "new normal" turns out to be.

Jul 27, 2020 05:27 PM
Rainmaker
867,038
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

In Massachusetts, the Governor passed legislation preventing evictions starting March 10 and ending August 17 AND Yesterday extended that provision to October 17..based on COVID-19 reasons

Jul 28, 2020 07:34 AM
Rainmaker
1,611,142
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

wow, we in IL are up there at 42%. That will be alot of movement so to speak but not unlike what we had in 2008. They will just have to pay or move. Take a hit on their credit because I bet they didn't pay any of their other bills either.

I think we just got an extension on evictions just 2 days ago? Coming soon?

Jul 28, 2020 05:58 AM
Rainmaker
5,828,024
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Millions of families face very difficult times.

Jul 28, 2020 05:34 AM
Rainmaker
1,912,031
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Very Scary

Jul 28, 2020 03:59 AM
Rainmaker
2,551,763
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Well lets not forget that the government passed laws that invited people to not pay rent thus causing chaos with the existing systems. Once order is restored, so will those that rent, own and invest be made whole who want it

Jul 27, 2020 06:26 PM
Rainmaker
1,839,177
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

All our tenants are current in payments. 

Jul 28, 2020 04:14 PM
Ambassador
4,704,615
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

That is a lot of evictions, and a lot of foreclosures for landlords that have to deal with them.

Jul 29, 2020 05:47 PM
Rainmaker
772,582
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It's a very good question and a very serious issue. Rents are going down even in such previously desirable places as Manhattan. That needs to happen as a reality check, but may not be enough for most renters at risk.

Jul 29, 2020 03:30 PM
Rainmaker
2,741,827
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I honestly don't know.

Jul 28, 2020 04:31 PM
Rainmaker
582,917
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

It's a sad situation with no solution.  There will either be haves and have nots or State owns everything.  Homelessness is the pits.  There is a lot of vacant land but the left only wants unrealistic solutions so nothing gets done.

Jul 28, 2020 09:49 AM
Rainmaker
193,836
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I do feel bad for those with true hardships.  I have rentals and have extended reasonable adjustments.  These blanket no eviction laws are just wrong.  With all the unemployment benefits and the one time $1,200 (plus $500 per child) stimulus check, I just don't understand why the numbers have spiked.  What will happen?  More stimulus and extended periods of time without evictions, at least here in CA.  Possible more, there was one bill being debated that would allow a judge to drop rents 25%.  Last I heard, it was dead unless amended.  It was amended.  They dropped the 25% limit on reductions and one of the bill authors.  I do not know where it stands now.  A more balanced approach really would be welcomed.

Jul 28, 2020 09:26 AM
Rainmaker
1,301,342
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

We should contact our legislators and ask them to reinstate evictions for non-payment when payment can be made, or to criminalize the non-payment of rent because evictions are stayed.

Jul 28, 2020 08:50 AM
Rainmaker
541,750
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Makes it hard for those owners to sell their property with tenants hunkered down.

Jul 28, 2020 08:37 AM