Current Events > Twitter to landlords; investing is a risk don't be mad tenants cannot pay rent.

(+) Yeah! (+)

SuperShake666 posted...

All landlords and property companies up against the wall.

Welcome to single-family zoning.

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Payzmaykr posted...

If it was $5k for the year (which is what it should be)

where are you getting a ridiculous idea like that?

even if the value of the land hadn't risen in the last 30 years, the cost of design, development, construction labor, materials, inspection, would make it hard to turn a profit on a 300 square foot studio at $5k a year now, let alone a 2 bed 2 bath with any sort of quality materials.

it seems like most of the people here live in fantasy land. without landlords many of these units would not exist. The US government has shown no real particular capability of managing public housing well. A few cities have managed normally low-rise / townhome / brownstone style (like max 3 floors) and had those projects turn out well, but any sort of large scale which you would be need for the 100M+ americans that rent, well that should be a larger nightmare to you than landlords. I imagine it would take months or years to get approval for a place in any major metro area. Want to move to San Francisco? Ok, 5 year wait. In the mean time you can stay in a hotel which will cost 3x more than it would have been with landlord.

landlords fill that gap between buying and hotels and over a long period of time, they are priced between the two.

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Lord_Shadow posted...

People need to be willing to burn the building down if a landlord try to sick people out mid pandemic

That just gives the landlord money, because fire insurance.
There's no way for a renter to win. You already lost when you signed the lease.

Questionmarktarius posted...

There's no way for a renter to win.

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Doe posted...

Meanwhile, in Tibet...

Lord_Shadow posted...

Arson? Didn't know Jediknight was out of jail already

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Lord_Shadow posted...

People need to be willing to burn the building down if a landlord try to sick people out mid pandemic

That would be an incredible windfall for me.

My property is a 4-plex zoned R18 on .36 acre, I could actually get 2 more units on there. If my place burned down the insurance would more than pay off my mortgage, but I would then just sell the land and walk away with that sale.

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Captain_Qwark posted...

Twitter is full of entitled losers

More at 11

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The landlord isn't entitled to being paid for his services aka housing, but is forced to keep the non-paying tenants and still has to maintain the space, pay utilities, mortgage and so on.

The tenant who can't pay is entitled to free housing.

And this is what people think? You're worse than China.

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Ilishe posted...

The landlord isn't entitled to being paid for his services aka housing, but is forced to keep the non-paying tenants and still has to maintain the space, pay utilities, mortgage and so on.

The tenant who can't pay is entitled to free housing.

And this is what people think? You're worse than China.

Why would the landlord need to keep maintaining the property? Also do landlords normally pay utilities? I thought that was always (or almost always) on the tenant.

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The issue is they haven't been able to evict the tenants

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PC-Builder_Pony posted...

The issue is they haven't been able to evict the tenants

i think we have different opinions on what an "issue" is here

Landlords: we provide housing for communities!
Tenant: cool can I rent from you
Landlords: sure, you just need to make 5x the amount of rent in income, have 20x the rent in cash savings, pay 3 months rent ahead of time, have a perfect 800 credit score, no other loans, need 2 letters of reference, 10 years of good rental history, no pets, and no kids!!!!

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_BlueMonk posted...

Landlords: sure, you just need to make 5x the amount of rent in income, have 20x the rent in cash savings, pay 3 months rent ahead of time, have a perfect 800 credit score, no other loans, need 2 letters of reference, 10 years of good rental history, no pets, and no kids!!!!

The harder it is to get out of a bad deal, the more reluctance there will be to ever make a deal.

Kloe_Rinz posted...

i think we have different opinions on what an "issue" is here

The other issue is that people weren't allowed to make money if their job wasn't deemed 'essential'

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HairyQueen posted...

Why would the landlord need to keep maintaining the property? Also do landlords normally pay utilities? I thought that was always (or almost always) on the tenant.

Yep. Thats just little convenient thing they left out. And read the comments they try to compare us to China. Guess what China makes a killing in Canada and US renting out huge buildings

St0rmFury posted...

Someone replied "what about student loans" to the 2nd tweet.

What about them? Fucking pay them.

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Back in my day we had this thing called a Great Recession where banks acted like greedy landlords and suckered people into mortgages that they couldnt afford and then sold the mortgages to other banks knowing they would default on the debt.
Everything crashed and you couldnt find a job to save your life.

Now the government is buying the debt of those who cant afford both.

Guess what happens next

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HairyQueen posted...

Why would the landlord need to keep maintaining the property? Also do landlords normally pay utilities? I thought that was always (or almost always) on the tenant.

Because it's in the agreement, isn't it?

Don't they? And then get reimbursed by the tenants? I dunno how it is in the USA. I suppose it could be a different system.

The point is the landlord gets fucked over. Why is this fair?

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Gamefaqs turning to Twitter again for their wisdom.

TheChariot posted...

Yes, they are wrong. I invested in Tesla at a high. I don't get to rage to Tesla because the stock is now worth less. Landleeches don't get to rage that they aren't getting money because their tenants aren't getting money either.

So people here are advocating not paying rent but they call the LANDLORDS the leeches. Okay.

I have no particular love for landlords, I am a tenant, I have had bad ones in the past. But you have a duty to pay your rent. If you don't pay it, you have no moral right to stay there. The law of unintended consequences for screwing over landlords en masse will be fewer rental properties, higher rents and stricter tenancy requirements to weed out likely non payers even more.

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This isn't an investment not panning out. This is the government putting people in a no win situation and not providing support to either party.

The problem is not being able to evict is a new risk they didn't sign up for. They agreed to play the game, but the rules got changed midgame.

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lile squall said, Im fine with having a bad tenant suddenly not paying their rent, but I want to have the option to kick em out if that happens, otherwise the risk/reward goes to shit very quickly

M_Live posted...

I've been fucked by landlords twice now. My first apartment they decided they wanted to remodel & expand the upstairs of their house so we got the boot last year in the height of covid and had to find a new place. Been living in my new place for a year and my landlord decides to sell leaving us up in the air with no savings since we weren't expecting to have to potentially fucking move. Fuck them.

Why do you have no savings. If you are a private tenant without security of tenure, you should always have enough money to move at short notice and be prepared to do that because sooner or later, it will happen to you. It has happened to me in the past and it does suck. But it is what it is. You can't blame all landlords because you've had bad experiences with a few of them.

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Give me my government digs and my government customer service

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I do moving and let me tell you most not all but most of the people getting evicted deserve it.

Normally it's dirty druggies or lazy people.

One lady said F the landlord I won't pay then august 1st is shocked she got the boot.

Squall28 posted...

The problem is not being able to evict is a new risk they didn't sign up for. They agreed to play the game, but the rules got changed midgame.

/topic
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dirtydog posted...

Why do you have no savings. If you are a private tenant without security of tenure, you should always have enough money to move at short notice and be prepared to do that because sooner or later, it will happen to you. It has happened to me in the past and it does suck. But it is what it is. You can't blame all landlords because you've had bad experiences with a few of them.

why are you not holding landlords to these same standards?

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cuh posted...

Are they wrong

The risk landlords didnt account for was the shift in the consciousness of our society to choose grace over greed

Yeah, sorta tenants didnt have to account for the shift in consciousness of our society to choose grace over greed

If you thought landlords were bad, someone who thinks another persons risk and investment isnt something to think about tells me more about tenants than landlords

they should just have a law where if you really flaunt that kind of opinion they should be able to kick you out honestly - at least landlords are capable of hiding their greed to an extent

averagejoel posted...

why are you not holding landlords to these same standards?

Because they already spent money trying to have a place that can offer you or someone else a place to live

Your turn

Assumed risk pretty much never includes the risk of one party being able to break contract (paying rent) with all recourse from the landlord being prohibited

Like, im all for the eviction moratorium during a pandemic

But it is crazy to act like this is something landlords priced into their investment

Like
Savings accounts are investments
Low risk, but not zero risk
If the govt froze your accounts would you just be ok with it?
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dirtydog posted...

Why do you have no savings. If you are a private tenant without security of tenure, you should always have enough money to move at short notice and be prepared to do that because sooner or later, it will happen to you. It has happened to me in the past and it does suck. But it is what it is. You can't blame all landlords because you've had bad experiences with a few of them.

Two months rent for breaking contract, and two months rent for deposit elsewhere.

40% of the US don't even have $1000 in savings.

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M_Live posted...

A lot of people live paycheck to paycheck dude

Keep making excuses then and get blindsided when the inevitable unexpected bill or need for money to move happens to you. If your entire pay means you literally can't afford to save anything, then you are either spending too much on crap or you need to move somewhere cheaper. Living hand to mouth is not sustainable. Learn or one day be homeless if that's the way you want to go.

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Musourenka posted...

Two months rent for breaking contract, and two months rent for deposit elsewhere.

40% of the US don't even have $1000 in savings.

Whose fault is that?

Also surely if the landlord is evicting you then you don't have to pay a contract break penalty fee?

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TheChariot posted...

Yes, they are wrong. I invested in Tesla at a high. I don't get to rage to Tesla because the stock is now worth less. Landleeches don't get to rage that they aren't getting money because their tenants aren't getting money either.

So they're not wrong then is what you're saying
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dirtydog posted...

Whose fault is that?

Also surely if the landlord is evicting you then you don't have to pay a contract break penalty fee?

If you're working paycheck to paycheck you literally cannot save any money. Lol
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One_Day_Remains posted...

If you're working paycheck to paycheck you literally cannot save any money. Lol

So what do you suggest? Society arranges itself around your inability to figure out your own finances and get your shit together? "I can't, it's all too hard!" Pathetic tbh.

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dirtydog posted...

So what do you suggest? Society arranges itself around your inability to figure out your own finances and get your shit together? "I can't, it's all too hard!" Pathetic tbh.

I think all the parties would benefit from understanding that theyre both greedy tbh, you cannot tell me theres some moral reasoning backing for hating landlords that stems into tropes about society but at the same time once we get past that sort of junk then its only a matter of problem solving what we can actually do to address these issues

dirtydog posted...

So what do you suggest? Society arranges itself around your inability to figure out your own finances and get your shit together? "I can't, it's all too hard!" Pathetic tbh.

I wouldn't dismiss 40% of the country as simply an issue of personal (ir)responsibility.


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Landlords create no value.

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Lonestar2000 posted...

Landlords create no value.

So you think everyone should have to buy a home or otherwise be homeless
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Landlords really don't work hard. Contractors work hard. Landlords just pay them.

They literally only exist to move money around, while keeping some for themselves.

(I say this as someone who does a lot of labor at rentals, for landlords)

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Captain_Qwark posted...

Twitter is full of entitled losers

More at 11

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welcome2DAslam posted...

Because they already spent money trying to have a place that can offer you or someone else a place to live

Your turn

okay. you should hold landlords to at least the same standard as the people renting from them. that is; they should be responsible for having enough in savings that they are not dependent on their investment to stay afloat

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g980 posted...

So you think everyone should have to buy a home or otherwise be homeless

did you respond to the right post? this does not follow at all from the one you responded to

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dirtydog posted...

So what do you suggest?

That you educate yourself and not expect people to have loads of money saved when it's impossible for them to do so
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