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Rainmaker
1,232,727
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

We are not social services, we are small business. The trickle down effect is being ignored: our mortgages, our maintenance, our taxes, etc. Where's our protection against the government protection? Politicians need to remain out of real estate.

Aug 07, 2020 12:27 PM
Rainmaker
911,486
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Many small investors are being hurt due to lack of funds needed to pay their own expenses including the rent on the rental property.

There is no good solution to this problem. Who do your hurt? Out of work renters who have no funds to pay rent so they get evicted or small investors who cannot pay the mortgages on the rental property and suffer credit damage, late payment fees and, maybe, foreclosure?

Aug 07, 2020 12:12 PM
Ambassador
3,058,272
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I do not. I see a misuse of power.  California is in a similar boat. Landlords have no relief  ... it's all an unthinkable mess ... yet it is happening all around us. 

Aug 07, 2020 01:22 PM
Rainmaker
508,283
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

They don't think of things thoroughly.  Landlords need to pay their mortgage, insurance, HOA, and tax on their property.  Where are they getting the money from if they are stuck with non paying tenant? 

Aug 07, 2020 12:53 PM
Rainmaker
1,723,555
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

We have also just extended it here in IL but I didn't get for how long.

Just looking thru the MLS the other day on a foreclosure that slipped by me & it was owned by investors that I knew. Seemed they just turned in the keys to the bank.

Aug 07, 2020 11:57 AM
Rainmaker
455,290
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Elections have consequences. Those who were elected are making the policies and look at which States / local Counties are doing well and look at which ones are in crisis mode!

Aug 07, 2020 04:05 PM
Rainmaker
991,615
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

In MA our governor extended the eviction moratorium until Oct 17th. My heart goes out to the affected landlords who have tenants that may use the crisis to take a rent holiday even though they have the rent. $$

Aug 07, 2020 09:20 PM
Rainmaker
5,591,480
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff,

I can see both sides of the problem.  We recently heard a similar conversation with commercial building owners.  Some locally agreed to half rent until this health crisis is over,  so that their tenants could stay in business.  Perhaps there is the same type of  solution in residential..A

Aug 07, 2020 03:23 PM
Rainmaker
556,968
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

All the politicians worry about are the tenants.  What about the investors?  Their carrying costs on their properties still need to be paid.

Aug 07, 2020 03:34 PM
Rainmaker
3,469,480
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jeff Pearl it is difficult for landlords and renters.

Aug 07, 2020 02:55 PM
Rainmaker
2,642,262
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

These current legal systems that exist are the ones we built and invested on with the moratoriums being emergency measures that are crisis driven. There has been no change in law. Saying that, opportunities exist in the world of litigation if one can show/prove a bias, harm or undue treatment resulting in damages. The moratorium sword cuts both ways it can be argued

Aug 07, 2020 02:03 PM
Rainer
272,855
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

I do not.  

Aug 09, 2020 02:12 PM
Rainmaker
867,502
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Hi Jeff,

It is hard to believe that people would not be paying their bills or rent with how generous the federal government has been with the Paycheck Protection Plan and the addition of the $600 weekly of federal unemployment assistance that just ran out, but was extended at $400 per week by Executive Order from the president.  

In Indiana a person filing unemployment who was making $8 an hour was receiving $1,280 per month BEFORE TAXES  in a four week month from their job.  With the $600 additional federal unemployment help per week in addition to the Indiana state unemployment assistance of $175 per week- that $8 an hour unemployed worker was receiving $3,100 in total unemployment assistance for a four week period!!!!!!!!  

$1,280 before COVID for 4 weeks wages at $8 an hour

$3,100 after COVID for 4 weeks state and federal unemployment.

You would have to be making $15 an hour for it to make economic sense to go back to work in the state of Indiana during that period the federal government was offering $600 per week supplemental unemployment assistance.   There would be no reason for anyone falling behind in rent if they were making less than $15 per hour in Indiana if they filed for unemployment compensation.

Aug 09, 2020 08:00 AM
Rainmaker
6,613,253
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Many landlords will have issues.

Aug 09, 2020 05:45 AM
Rainmaker
645,848
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

The current Pandemic makes us choose between bad and worse options.  Helping one party can destory another party.  I am a landlord and our tenants are paying.  It would be cheaper to delay paying then evict and rent out the properties.  The payback has to be terms that don't increase the future loss by delaying payment and then leaving without paying.

Aug 08, 2020 01:51 PM
Rainmaker
1,387,778
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No, this is too broad of a stroke to be effective.  It prevents many other just evictions and encourages those who can pay to not pay due to a lack of consequences.

Aug 08, 2020 10:10 AM
Rainmaker
4,214,059
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Can the governor get a stay of payment for the landlord? Probably not but kicking the can down the road lightens his load!

Aug 08, 2020 06:55 AM
Rainer
466,412
Jerry Lucas
ABC Legal Docs LLC - Colorado Springs, CO
Mobile Notary Colorado Springs, CO Notary Training

The Governor of Colorado is being sued by landlords for abuse of power and issuing multiple executive orders for eviction moratoriums in violation of the U.S. Constitution, denying landlords legal rights and due process, and effectively a government taking of private property without compensation.

Aug 11, 2020 03:42 PM