Turned on the news to see a weather forecast and there is this young lady telling the reporter that she can't afford rent and is so glad they can't throw her out on the street. I knew there was a moratorium on evictions last spring when people got stupid with the covid thing, but would think that would be over by now. Sounds like the mayor of the city extended the no eviction thing. Got me to thinking about those that own rental properties. One good friend started with a run down old house, fixed it up, and rented it out. After it was paid off he used the rent to pay on another fixer-upper. He now has several and the rent being paid is put toward the few he is fixing up now. If no rent is being paid and he can't evict them and get a paying tenant, he has to foot the bill out of his savings. Luckily my friend has good tenants that pay, but I am sure many do not. Is this a thing over the entire country or just KC? I would think if it is widespread enough to be news worthy, owners of rental property will be going bankrupt in huge numbers if unable to get rid of nonpaying tenants.

Dad's got a couple of rentals ones paying the other not - - no sign of being able to do anything about it until june in our state.

The secret to doing that is to have good renters, but that doesn't always happen Heard of way too many stories where the renter started out good and things went down hill quickly. Can't evict them because they are a minority and the landlord is not, or loop holes in local ordinances ect. Think the moratorium could just make things worse for the landlords.

My renter in Montana hasn’t paid since October. She says we will get some money soon but I’m not holding my breath. Not much we can do about it except try to keep up with the payments until all this blows over. To top it off we just found out the foundation is cracked, so who knows how much that will cost to fix. Might be able to afford it if we were getting rent from it. Insurance will probably find a reason not to cover it I’m sure. Wish that stupid house would have sold last spring when I put it on the market, now I’m stuck with a money pit. On the market for six months and never even got a lowball offer.

The hard working person gets it put to them again!

A lot of folks with rental properties are counting on the rent to pay the mortgage. There will soon be widespread house fires.

There will likely be a large increase in arson.

Keith

So if you're the landlord how are you going to pay your bills?

I'm glad we sold off the Rentals we used to own . Even 15years ago it was getting rough on Rental owners.

That is what I was wandering. Seems the govt idiots that decided folks don't have to pay the rent forgot the fella the rent is paid to also has bills.

It hasn’t been easy. Luckily we had enough in savings to make it work but the savings account is getting slimmer and slimmer. Can’t keep it up forever.

dontcha know all the landlords are mega corps

except you and the others who are not.

Just do a search on "landlord arrested for arson". Frequently when a landlord can't evict a nonpaying tenant and can't pay their own bills, they resort to arson. It gets the tenant out and the landlord receives an insurance payment. There are professional arsonists, who can burn a building down without leaving evidence of arson. I met a former professional arsonist back in the late nineties, who had got a much reduced sentence, for testifying against the people who hired him in the sixties, seventies and eighties to do hundreds of fires. He shared some very interesting methods with me.

Keith

I've been fortunate with all mine so far. Having good people is a must but you never know when that can change. In fact, mine not only pay on time but months ahead. Then again, they have continued essential work through the covid stuff. One couple actually gave all their stimulus checks to me for rent in advance. Having a good rep as a landlord is equally important and we continue to have people referred to us who are looking for a place. I hope I never have to deal with the eviction process. Interestingly enough, real estate in my area is flying off the market soon as it comes available so I feel confident that I wouldn't have any trouble getting out of the game if I needed to.

You just have to burn it down ..... Problem solved

No one is going to pay your bills....Think about who owns rental properties.

White, middle to upper class mostly.

O'bama bemoaned landlords making money off less fortunate, lower income
people, especially if they happen to be non- white.

I have a rental house sitting empty, and refuse to attempt trusting a renter
in this current hate whitey climate.

Hope somebody burns it down.

People were thrown out of work due to covid.Thru no fault of their own.No income.They did no lose their job,it was deferred.
Landlords in same boat.Everything is deferred until enough people get vaccinated to achieve herd immunity.
Then people can return to work and resume paying the landlord.Then the landlord can resume paying his bills etc. etc. etc.

I hear ya Boco, but they will never pay the back rent...Not gonna happen.

I dont think there is any expectation of people being paid back wages either for being out of work-that is why renters and landlords get help from govt to hold them over the covid crisis.
That is why there is a fastrack for vaccination so people dont go belly up for good(even govt)by having herd immunity take too long.

X2

Never