Cancel Rent?

[UncleBuck]

Unlike menstruating op, my family actually owns and rents out many properties

At the beginning of the panic, I read an article about the Cheesecake Factory not paying rents. I laughed my ass off

45 minutes later my wife woke up and came up the stairs staring at her phone. I asked her what the big deal was

She said “the Cheesecake Factory isn’t paying their rent to us!” and launched into a diatribe about how a company like that should have a month worth put away for times like these

I just laughed and laughed and laughed

Who woulda thought the family fortune depended on Cheesecake Factory rent payments?

 

[UncleBuck]

To be clear, we all still want the Cheesecake Factory to close right now

We will worry about the consequences later

OP is a low rent slumlord

 

[Tangerine_]

More like *property manager...and a very resentful one

 

[FastFreddi]

I'd like to have a quick say here. I can't say I'm with all that OP stated, but there is honest to goodness reality to the situation.

I personally have family and friends who own properties (and businesses) where people are claiming to not be able to pay rent.

Like it or not, this is a true reality. Along with that reality, is the fact that the leaseholders of these facilities will see blowback from their financiers, and if the properties are completely paid off, loss of revenue that often goes to the bottom line (including feeding their own family).

We shouldn't get caught up in the small details here. Everybody is going to hurt, some more than others, some longer or lesser than others.

Although I can't say I'm completely on board with how OP presented things, I am on board with the frustration and premise of the post.

I myself own properties. Thankfully however, I am not in a landlord-tenant agreement regarding any of them. With that said, the properties are losing money currently nonetheless.

Agreed Spek9...there are many rental owners who are going to suffer needlessly as well...but some do need to more than others...kind of an attitude readjustment? Maybe....
I own my home( or the bank does, and I will continue to make all of my payments....because I can...many cannot and need help. NOW MORE THAN EVER IN MODERN PEACETIME HISTORY.
I think we could all use a little humility right now.
Or should I say HUMANITY .
Peace and good health everyone.
FF

 

[zeddd]

That’s the thing, I’m not going to take a hit. I will get my pay roll for free and my mortgages deferred for 3 months at the moment and I expect more to come. I expect that some of my commercial renters will default but it won’t be that bad as most of my properties are rented to the medical field and they aren’t going anywhere.

Edit: actually I am taking a big hit, but not from my properties, from the stocks and moving a lot of my ira to a Roth IRA. Nobody is getting out untouched.

You’ll be taking a big hit if you get bip from covid, you won’t get any rent lying dead in a box.

 

[DaFreak]

I hope your tenants bring cockroaches and bedbugs to your rental properties

Constantly. But why would you hope for that? I don’t live there. It’s their neighbors who suffer. If it’s part of business, bedbugs are a weekly thing.

 

[DaFreak]

OP is a low rent slumlord

Which is it? I do t rent properties or I’m a slum lord? So you daddy owns properties eh? I imagine your father is going to collect that rent from them after this is over.

 

[sarahJane211]

Which is it? I do t rent properties or I’m a slum lord? So you daddy owns properties eh? I imagine your father is going to collect that rent from them after this is over.

I agree with you, presumably the car HP firms shouldn't expect to be paid, and the supermarkets should be handing out all for free.
What about the utilities, free water, electricity, internet, cable tv, and community tax?
Where does it all end with handouts to the poor?
And why should you (as landlord) be the first to lose money?

 

[FastFreddi]

This pandemic needs for EVERYONE to have a little compassion and humanity right now...those who take advantage during these times, on either side of that fence, can go take a long fuck off a short cliff.
Peace
FF

 

[DaFreak]

We all do Freddy without being told to. For most of the people in this thread that doesn’t require much, since they employ no one nor house anyone. I’m allowed to bitch about the people who want a second helping from the plate (ssdi + rental assistance + wanting free rent)

 

[FastFreddi]

Agreed.
FF

 

[DaFreak]

By the way this is part of a bigger problem in housing right now with affordable units being converted to condos. They are such a pain in the ass to deal with. All these properties are aging out of the RD programs.

 

[FastFreddi]

I have no dog in this fight, except how I was raised to feel about others...I once was employed in a hard job which called for hard feelings..became away of life. I lost touch with my humanity for a while.
Luckily, with the help and compassion of others, I live to tell this.
Be compassionate, be kind when possible.
But know, you should not be taken advantage of becoming of your position, IF you are doing what you can for those that need it.
Peace.
FF

 

[FastFreddi]

I have no dog in this fight, except how I was raised to feel about others...I once was employed in a hard job which called for hard feelings..became away of life. I lost touch with my humanity for a while.
Luckily, with the help and compassion of others, I live to tell this.
Be compassionate, be kind when possible.
But know, you should not be taken advantage of becoming of your position, IF you are doing what you can for those that need it.
Peace.
FF

Edit to read no...not know.
FF

 

[Budley Doright]

no word back yet

We’re holding on just fine. Just refinanced so no mortgage payment for two months

i suspended my LOC payments till this shit ends, I’m basically out now. We’re running two shifts of one tech for emerg. service and one install for no heats . Rebuilding broken shit around the house will keep me busy for about 5 years

 

[DaFreak]

We’re only doing emergency and throwing money at the exteriors to keep maintenance working. Normally this would have to all be bid out so I might end up getting fcked by rd if they don’t let me reserve it.

 

[TacoMac]

Exactly. I rented one place for almost ten years before I purchased. There were a few times where I was up to a week late with rent. I just texted/called my landlord, let him know what was up, and he would extend it for me. He never charged me a late fee because he was a human being, and not some robot devoid of emotions.

I would fucking hate to be your tenant.

That's how it's done. I've rarely had anyone that needed to do that but on the very few times it happened I understood.

Last time I recall was about 6 or 7 years ago one renter's son was in a horrific car accident and in the hospital for a few days and racked up a hell of a bill.

They asked if it would be OK to make a partial rent payment for two months until the insurance settlement came in (the kid was hit by a drunk driver) so they could keep up the hospital payments as well.

I said sure. No problem.

They paid half rent for that month but the settlement came in half way through the next month and they immediately caught up.

No fees or being an asshole necessary.

 

[DaFreak]

Late fees are standard here. Encourages people to pay on time. Local laws dictate timing. If I was only dealing with a handful of tenants I probably wouldn’t use them.

 

[TacoMac]

Late fees are standard here.

Only for assholes.

Encourages people to pay on time.

No it doesn't. It punishes those who are already barely making it by putting them deeper into debt that they can never pay off.

It's the same bullshit banks use to milk more money from people. The ATM fee, the cancelled check fee, the overdraft fee and on and on.

It's abundantly clear to all here that you're an old, bitter, heartless, greedy, son of a bitch.

Stop posting. Nobody agrees with you on this. Nobody ever will.

You are what's wrong with the world at large and this country in particular.

 

[Rob Roy]

I have no dog in this fight, except how I was raised to feel about others...I once was employed in a hard job which called for hard feelings..became away of life. I lost touch with my humanity for a while.
Luckily, with the help and compassion of others, I live to tell this.
Be compassionate, be kind when possible.
But know, you should not be taken advantage of becoming of your position, IF you are doing what you can for those that need it.
Peace.
FF

Peace cannot be achieved by threatening people who are willing to leave you alone if you will leave them alone though.

Involuntary edicts against a person maintaining neutrality is a nonpeaceful action. Therefore by including an action, you can't also make it go away.

Freddi, I appreciate your attempted compassion, but you should put your stick down when trying to "help" people. IF you are doing what you can for those that need it, you can only give YOUR help and ask for others to help too. Once you stop asking, you stop being peaceful.

Peace.