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Eviction notice downloads soar after federal moratorium ends

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Re: Eviction notice downloads soar after federal moratorium ends

#131

Post by bdcravens »

wayoutthere wrote: post #72
bdcravens wrote: post #12

Earlier quoted context omitted.

Landlords don't like to evict. They prefer to receive rent.

If you’re a big enough landlord you want to have a certain percentage of evictions as a low eviction rate is a signal you should hike rent. When housing supply near jobs is as constrained as it is, evicting people causes more people to cram into a tiny apartment, which means you can charge more rent for that tiny apartment.

That's true, though the "big enough landlord" isn't as common as many think. About 40% of rental properties in the US are owned by individuals[1], with most owning less than $400k in properties[2].

1. https://www.nar.realtor/blogs/economists-outlook/landlord-st...

2. https://getflex.com/blog/landlord-statistics/#:~:text=The%20....

Re: Eviction notice downloads soar after federal moratorium ends

#132

Post by KennyBlanken »

tehwebguy wrote: post #81
q1w2 wrote: post #38

Earlier quoted context omitted.

The number of nurses that are willing to quit so they aren't required to get the vaccine is insane, and I think that might be what is driving the enrollment reduction.

Just because the number is insane doesn’t mean it’s big.

Just because someone says something is insane, doesn't mean it is. It's typically 1% or less of the workforce. See my other comment for two long lists of hospitals and the resulting numbers of terminated workers. It's very, very small.

Re: Eviction notice downloads soar after federal moratorium ends

#133

Post by Aunche »

q1w2 wrote: post #54
xahrepap wrote: post #27

Tangential and honest question: how do eviction moratoriums help? I can see how a short ban on evictions can help prevent a spike in a homelessness crisis, but long term I really struggle with it. Is the assumption that all/most landlords have infinite money to support non-payers? Are governments subsidizing 100% of the missed rent?

As a landlord, I can tell you that the government does NOT replace ANY of the missed rent. Moreover, while many tenants have continued to pay their rent - MANY have gradually started realizing that I am unable to evict them, and have completely stopped paying rent. Moreover, they have started collaborating under the assumption that there is more protection if they do it together. Like other landlords, I have lost a t…

Just because they can't be evicted doesn't mean that get free rent, especially if they're employed. You can still file a lien on them or garnish their wages.

Re: Eviction notice downloads soar after federal moratorium ends

#134

Post by penjelly »

tjr225 wrote: post #67
PragmaticPulp wrote: post #22

These headlines are some of the weirdest backwards stories I’ve seen lately. It’s like everyone is desperate to make this into a crisis yet reality isn’t delivering the eviction catastrophe the headline writers wanted. Obviously we’re seeing more evictions now that they’re literally not banned. That’s not news. However, this is shocking: > The rates of evictions served are approaching pre-pandemic levels in certain a…

I've been thinking about this a lot lately. The current state of things appears to be that internet and media/ad revenue AI machine seem to have come together to put us in an sort of shepard tone of fear and impending doom. Pandemic, war, inflation, division, shortages, crypto, every storm has a name, everything is record breaking. I have more to be grateful for than I've ever had before, in spite of all of this some…

This makes me think of 1984 and how the world was in a state of perpetual victory while simultaneously at war (danger) at the same time.

fwiw in the book it was a means of controlling the populace.

Re: Eviction notice downloads soar after federal moratorium ends

#135

Post by nemothekid »

q1w2 wrote: post #54
xahrepap wrote: post #27

Tangential and honest question: how do eviction moratoriums help? I can see how a short ban on evictions can help prevent a spike in a homelessness crisis, but long term I really struggle with it. Is the assumption that all/most landlords have infinite money to support non-payers? Are governments subsidizing 100% of the missed rent?

As a landlord, I can tell you that the government does NOT replace ANY of the missed rent. Moreover, while many tenants have continued to pay their rent - MANY have gradually started realizing that I am unable to evict them, and have completely stopped paying rent. Moreover, they have started collaborating under the assumption that there is more protection if they do it together. Like other landlords, I have lost a t…

>As a landlord, I can tell you that the government does NOT replace ANY of the missed rent.

I can see why people get so frustrated with landlords. It’s the same kind of frustration when Wall Street asks for government intervention after making a series of bad trades

Re: Eviction notice downloads soar after federal moratorium ends

#136

Post by notch656a »

thegrimmest wrote: post #122
notch656a wrote: post #107

Earlier quoted context omitted.

Someone who can't be trusted with 100k shouldn't be entrusted to inhabit a house worth 700k. One careless action can easily cause 100k worth of damage to a house. It's probably easier to keep 100k safe than it is to keep at least 600k of value of a 700k house safe.

Ehm, I'm not sure how that makes any sense at all. Someone who can't be trusted to repay 100k can certainly be trusted to inhabit a (insured) house worth 700k without setting it on fire. Landlords do exactly this all the time. Also, it's not about keeping the money safe, but about generating a return.

Well if we're talking about loaning 100k for the house, you can always execute your lien holder privileges to take back the house if they don't pay. Mortgage insurance providers a like service to the mortgage provider to minimize losses.

I'd much rather be in position backing mortgage on 100k house, backed by mortgage insurance, than risking someone I don't trust with that same 100k having full custody of my house worth 700k.

Re: Eviction notice downloads soar after federal moratorium ends

#137

Post by oceanghost »

maxmamis wrote: post #63
q1w2 wrote: post #54

Earlier quoted context omitted.

As a landlord, I can tell you that the government does NOT replace ANY of the missed rent. Moreover, while many tenants have continued to pay their rent - MANY have gradually started realizing that I am unable to evict them, and have completely stopped paying rent. Moreover, they have started collaborating under the assumption that there is more protection if they do it together. Like other landlords, I have lost a t…

Quoted post unavailable.

Thank you for the belly laugh!

Re: Eviction notice downloads soar after federal moratorium ends

#138

Post by hedgehog »

endisneigh wrote: post #116
maxmamis wrote: post #111

Earlier quoted context omitted.

why do you think it is one?

There's obviously work in maintaining an inherently depreciating, heavily worn asset. This is true of both landlords and anyone who loans out physical goods as a service.

Maintenance work is a job, owning real estate is an investment. Sometimes done by the same people, sometimes not.

Re: Eviction notice downloads soar after federal moratorium ends

#139

Post by JumpCrisscross »

maxmamis wrote: post #123
JadoJodo wrote: post #104

Earlier quoted context omitted.

IANAL, but it sounds as though GP has a job... Managing a 12-unit apartment complex.

hmmm, i live in a similarly sized building with a live-in super. he's not the one receiving a third of my monthly income. where is the rest going?

> where is the rest going?

Have you owned a normal-sized house? Repairs, insurance, inspections, et cetera. Also staging, advertising, pursuing delinquencies.

Rental yields in most cities are in the low single digits. Where that isn’t true, it’s because local politicians protect the landlords by restricting development, often in cahoots with grandfathered-in renters.

Re: Eviction notice downloads soar after federal moratorium ends

#140

Post by djrogers »

olivermarks wrote: post #17
HideousKojima wrote: post #10

Earlier quoted context omitted.

Unless you're suggesting that tenants should be able to live in someone else's property for free (at which point it effectively ceases to be the original owner's property) or you're referring to some wider societal problems that lead to rents being too high/tenants being too poor then I'm not really sure what problem you're referring to.

This is the old fantasy that 'landlords' (one of the most inaccurate words in the English language) lounge around extracting money from the peasants living in their properties. This mom and pop rentier idea is specious, but that is exactly what the big global corporations who are hoovering up North American properties are doing this year, under a Democrat controlled administration. Small landlords are losing not only…

> This mom and pop rentier idea is specious

I'm not sure that word means what you think it means. >40% of all rentals are owned by individuals, and if you take large multi-unit apartments out of the equation that rises to >72% - that's your "mom and pop" rentals, which by most judgements would take it from the realm of specious and put it smack dab in the realm of the common.

It's quite common for retirees to own outright or invest in rental property - evenly grandfather, who never made more than $10/hr working at a lumberyard for his entire life owned some rentals in his retirement.

Those are the people who are actually hurt by eviction moratoriums.

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