Current Events > 25% of NYC apt renters haven't paid since March. Pushing city to breaking point.

(+) Yeah! (+)

Tmaster148 posted...

If landlords were millionaires they would already have an emergency fund now.

Fact of the matter is landlords simply took advantage of the fact they can live off of other people's wealth and never decided to prepare for a situation where that stops being the case.

thats my point - everyone thinks landlords are millionaires that just buy up all the property. Thats not true. They bought a property as an investment and yes the rent collected (Hopefully) pays for that. But theyre the ones responsible for paying the mortgage and the bills that are not associated with rent. And all maintenance and major work needed as it comes.

many landlords work an actual job to provide a living for themselves. If they own a rental that is most likely their nest egg for retirement.

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Tmaster148 posted...

Landlords should have an emergency fund.

i'm going to go with this. though i think in my last rental had a couple people who couldn't pay a few months rent (wasn't me) always had it for him on the day of arrival (wish it wasn't left on bad terms).

though we don't know the living situation of every landlord if they had an emergency fund. could be a lord of just 1 apartment building or owner of many.

everyone's struggling in this (renter's more than landlords).
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chrono625 posted...

landlords are filthy millionaires they dont need rent! They steal from their tenants!

landlords should have an emergency fund oh wellllllll

which one is it?

both

chrono625 posted...

They bought a property as an investment

I suppose they should have thought about the risk of the investment before over-leveraging themselves, huh.

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DarkProto05 posted...

It's just funny how poor people are the only ones who should have emergency funds. No one else. Everyone else has a valid excuse and must get a bailout!

Uhh... if I worked hard and now I'm rich why exactly do I need an emergency fund

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pepper2012 posted...

Uhh... if I worked hard and now I'm rich why exactly do I need an emergency fund

worked hard...? by that you mean had others work hard to pay your mortgage and utilities? weird way to phrase that.

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Shablagoo posted...

worked hard...? by that you mean had others work hard to pay your mortgage and utilities? weird way to phrase that.

Because no one can ever be successful without exploiting others right

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pepper2012 posted...

Yall sound like some jealous renters tbh

I own a house in the Bay Area. Fuck landlords.

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you do realize landlords have to pay the mortgage on the homes they're renting out

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thebatz posted...

you do realize landlords have to pay the mortgage on the homes they're renting out

if they can't pay the mortgage. everyone loses.
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thebatz posted...

you do realize landlords have to pay the mortgage on the homes they're renting out

They should have planned for emergencies.

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thebatz posted...

you do realize landlords have to pay the mortgage on the homes they're renting out

They think landlords are billionaires lol

The main objection against landlords isn't that they're rich, wtf. It doesn't matter if they're millionaires or barely scraping by.

The objection is that they're exploiting a basic human need for profit. They do no work, they take money from other people who do work. Very irrelevant how their living situation is, the point is that they feel entitled to other people's money just because they own stuff

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Lots of people work while having rental property as well.

It doesnt even matter if landlords work or not anyway, itsa free country.

sentient leeches known as landlords getting riggety riggety rekt don't concern me

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scar the 1 posted...

The main objection against landlords isn't that they're rich, wtf. It doesn't matter if they're millionaires or barely scraping by.

The objection is that they're exploiting a basic human need for profit. They do no work, they take money from other people who do work. Very irrelevant how their living situation is, the point is that they feel entitled to other people's money just because they own stuff

okay that's real unfortunate but when mortgage payments are not being paid and the landlord's bank forecloses the rented out property then what...

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thebatz posted...

okay that's real unfortunate but when mortgage payments are not being paid and the landlord's bank forecloses the rented out property then what...

Then what what? Landlords don't become more entitled to other people's money just because it's actually the bank who owns stuff and not the landlord.

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scar the 1 posted...

Then what what? Landlords don't become more entitled to other people's money just because it's actually the bank who owns stuff and not the landlord.

in the end, tenants are still getting evicted. either rent gets paid or property gets seized.
so why go after landlords in some moral crusade.

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thebatz posted...

in the end, tenants are still getting evicted. either rent gets paid or property gets seized.
so why go after landlords in some moral crusade.

You think people who are critical of landlords aren't also critical of banks?

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I don't know why people are assuming there's no work involved in landlording.

Repairs, maintenance, tax prep, showings, monthly payments (collection and payment), lease agreement preparation, many of them even arrange crap like lawncare. It's not a full-time thing for one property but some of these guys manage a ton of properties. That's why there's a dang real estate office that's staffed 40+ hours a week.

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Jagr_68 posted...

4k for a motherfucking 4 bedroom apt...

Only in NY.

My friends cousin worked for a company in Hong Kong. They had a 2 bedroom apartment with a view of the harbour. His company paid $10,000usd/month for that apartment.

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SuperShake666 posted...

They should have planned for emergencies.

So should their renters. You stop paying for something, you lose access to it. Pay your rent or get out.

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The first stimulus was too small, the second one needs to be bigger, and its scary that the extra $600 a week hasnt been extended yet. This administration is so incompetent

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thebatz posted...

you do realize landlords have to pay the mortgage on the homes they're renting out

Paid for by the renter. Then the landlord gets to keep the property. So the renter(s) is literally building equity for the landlord without the landlord having to do any work.


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DevsBro posted...

I don't know why people are assuming there's no work involved in landlording.

Repairs, maintenance, tax prep, showings, monthly payments (collection and payment), lease agreement preparation, many of them even arrange crap like lawncare. It's not a full-time thing for one property but some of these guys manage a ton of properties. That's why there's a dang real estate office that's staffed 40+ hours a week.

And that labor should be fairly compensated naturally. If 100% of "rent" went towards actual maintenance of the building then
1. It would not be called rent
2. They would not be called landlords
3. People living there wouldn't have a problem with them

Seriously how hard is it to understand? There's a fundamental difference between making money from doing work, and making money from owning stuff. The objection against landlords is that they make money from owning stuff. That's why they're called leeches. That's why people don't like them. That's the central issue. Well that and the fact that they wield power over others just because they own stuff. No one thinks someone who does repairs or mows the lawn shouldn't get paid.

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DevsBro posted...

Damn greedy landlords now trying to destroy the city instead of give up a few bucks a month out of their mountains of cash

If I lose my job and dont find a new one in 1 or 2 months I wont be using the rest of my savings to pay rent or my mortgage cause at that point is about survival. I rather lose the house or get kicked out.

Besides US is a country where half the people dont even have 500 saved and people like you complain about it, yet its part of the reason that makes US such a rich country...rampant consumerism.

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DarkProto05 posted...

Funny how the well-off people constantly ask for bail outs. But if the lower class asks for rent forgiveness its no, you no good welfare baby.

The banks paid back their bailouts with interest.

I take it you're suggesting renters do the same


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DarkRoast posted...

The banks paid back their bailouts with interest.

I take it you're suggesting renters do the same

When the housing market crashed, many Americans lost equity in their homes.

The knowledge that some of that lost equity was regained on the back end by the treasury just isn't all that comforting. That goes double when you take into account that the government spending that came out of the bailout loan repayments isn't likely to make Americans whole to the tune of what they lost.

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DarkRoast posted...

The banks paid back their bailouts with interest.

I take it you're suggesting renters do the same

rich person nuthugs banks and landlords, wow im shocked

scar the 1 posted...

And that labor should be fairly compensated naturally. If 100% of "rent" went towards actual maintenance of the building then
1. It would not be called rent
2. They would not be called landlords
3. People living there wouldn't have a problem with them

Seriously how hard is it to understand? There's a fundamental difference between making money from doing work, and making money from owning stuff. The objection against landlords is that they make money from owning stuff. That's why they're called leeches. That's why people don't like them. That's the central issue. Well that and the fact that they wield power over others just because they own stuff. No one thinks someone who does repairs or mows the lawn shouldn't get paid.

If 100% went to maintenance, how would they pay for the property? You know you have to buy these things for 6+ figures right?

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People who hate on landlords crack me up. If your landlord is shit, move out and find a better place to rent, there are plenty. If you hate landlords on principle, then own your own property and avoid them entirely. If you don't have the autonomy to do either of those, the problem isn't with the landlord.

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Herodopus posted...

rich person nuthugs banks and landlords, wow im shocked

Nothing of what I said represents support for banks or landlords. I'm just pointing out a flaw in the logic of his argument, which is "if we bail out X we should bail out Y" but somehow the rules of the bailout are intrinsically different.

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DarkRoast posted...

Nothing of what I said represents support for banks or landlords. I'm just pointing out a flaw in the logic of his argument, which is "if we bail out X we should bail out Y" but somehow the rules of the bailout are intrinsically different.

I explained why your attempt at pointing out a flaw in logic is in itself flawed:

Shablagoo posted...

When the housing market crashed, many Americans lost equity in their homes.

The knowledge that some of that lost equity was regained on the back end by the treasury just isn't all that comforting. That goes double when you take into account that the government spending that came out of the bailout loan repayments isn't likely to make Americans whole to the tune of what they lost.

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DevsBro posted...

If 100% went to maintenance, how would they pay for the property? You know you have to buy these things for 6+ figures right?

So why should someone else (renters) pay for them to own a property?

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DevsBro posted...

If 100% went to maintenance, how would they pay for the property? You know you have to buy these things for 6+ figures right?

What part of "the fundamental part of the objection is that people shouldn't be able to make money by just owning stuff" are you not getting

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why are you guys acting like devsbro is capable of cogent thought? he's an alabama trumper

scar the 1 posted...

What part of "the fundamental part of the objection is that people shouldn't be able to make money by just owning stuff" are you not getting

Truly, Blockbuster Video was the very embodiment of pure evil.

One time I scalped a Super Nintendo Classic. Got it for $80 GameStop credit and sold to a nice girl for $120 cash who was just happy to get it as a present for her bf cause it was sold out everywhere. I felt like a douche, if not for people like me she could have gotten it for $80 herself and used that money for gas or for a nice dinner for her and her bf. So I never scalped anymore.

I couldn't imagine "scalping" the ability to have a roof over your head. If these dick landlords are too stupid to obey the #1 rule of finance, diversify your portfolio, then they deserve to get burnt by all these people not paying rent.

And I'm sure all the bootlickers will say the tenants "should have an emergency fund!!!" while not even batting an eye at the idiot landlords, oops I mean "investors," who lack an emergency fund themselves and who don't know how to diversify their portfolio.

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Shablagoo posted...

I explained why your attempt at pointing out a flaw in logic is in itself flawed:

Fair enough, but my point really wasn't about fairness. I think you're absolutely correct from a standpoint of humanitarian equity, and I actually agree with the original argument in principle, I was just pointing out the logical inconsistency.
After spending two decades being brainwashed by conservative propaganda, I guess I have a tendency to want to point out irrational arguments, no matter how mild.

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Shablagoo posted...

So why should someone else (renters) pay for them to own a property?

If they want to go purchase a house in one payment, literally nobody will turn them down.

scar the 1 posted...

What part of "the fundamental part of the objection is that people shouldn't be able to make money by just owning stuff" are you not getting

Ok well they shouldn't have to throw away 6+ figures for someone else to bum off of either.

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Owning property is not a real job and contributes nothing to society.

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DarkRoast posted...

Fair enough, but my point really wasn't about fairness. I think you're absolutely correct from a standpoint of humanitarian equity, and I actually agree with the original argument in principle, I was just pointing out the logical inconsistency.
After spending two decades being brainwashed by conservative propaganda, I guess I have a tendency to want to point out irrational arguments, no matter how mild.

I got ya, no worries

DevsBro posted...

If they want to go purchase a house in one payment, literally nobody will turn them down.

Bro...what? Think about what youre saying in the context of what we are talking about.

@Herodopus Jeez you might be right

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Florida is looking bad, too.

You can put a hold on evictions due to mortgages and rent, but those payments are still due at the end. Once those memorandums end, people are going to be months behind without any way to catch up.

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tigerslashII posted...

People who hate on landlords crack me up. If your landlord is shit, move out and find a better place to rent, there are plenty. If you hate landlords on principle, then own your own property and avoid them entirely. If you don't have the autonomy to do either of those, the problem isn't with the landlord.

Its almost like moving is a big fucking deal that people don't want to do all the time. It's a lot of time and effort.

It's also like its difficult for poor people to do so and some people may have criminal records, little to no or poor credit history that make getting somewhere new hard.


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pikachupwnage posted...

Its almost like moving is a big fucking deal that people don't want to do all the time. It's a lot of time and effort.

It's also like its difficult for poor people to do so and some people may have criminal records, little to no or poor credit history that make getting somewhere new hard.

Yeah when you make poor life choices you tend to have a harder time of it.

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pepper2012 posted...

Because no one can ever be successful without exploiting others right

Nobody climbs their way to the top without stepping on people and keeping their hands clean tbh

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