Covid-19: Landlords will kill our economy
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Covid-19: Landlords will kill our economy
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Re: Covid-19: Landlords will kill our economy
#2> We need legislation to ban rents for COVID-19-affected businesses.
This only works if the government mandates full moratorium on both rents and mortgages. That also means that no interest on mortgage is accrued during this time.
Otherwise, landlords are screwed in the same way as tenants - they can't pay mortgage and the property may turn into foreclosure. More so, frequently landlords are screwed even more - because it may be hard to get rid of non-paying tenant especially during this time. So tenant may get sort of temporary free pass by just not paying rent.
Bottom line - Landlords are not the right target of this rage. Appeal to Governments, not to Landlords.
Re: Covid-19: Landlords will kill our economy
#3This makes a lot of sense. Rentiers are among the worst. My rental contract is so strict that it is insane. For example, I have to give 60 day notice, but those 60 days have to begin on the 1st of a month. It can't be 2nd or the last day of the previous month, it has to be the 1st.
Rentiers deserve no protection, especially when everyone else is bleeding
Re: Covid-19: Landlords will kill our economy
#4> Ban rent for COVID-19-affected businesses
Landlords have mortgages and a host of other associated costs. If this were made a policy in the UK, you'd have a huge number of small-time buy-to-let landlords going bankrupt and losing their nest-egg to the bank.
Re: Covid-19: Landlords will kill our economy
#5> Ban rent for COVID-19-affected businesses Landlords have mortgages and a host of other associated costs. If this were made a policy in the UK, you'd have a huge number of small-time buy-to-let landlords going bankrupt and losing their nest-egg to the bank.
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Re: Covid-19: Landlords will kill our economy
#6> Ban rent for COVID-19-affected businesses Landlords have mortgages and a host of other associated costs. If this were made a policy in the UK, you'd have a huge number of small-time buy-to-let landlords going bankrupt and losing their nest-egg to the bank.
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Re: Covid-19: Landlords will kill our economy
#7I think most landlords are wealthy people who are easily placed to weather this financial crisis.
By definition if you are wealthy enough to own property beyond one house then you’re wealthy enough to survive this.
And if you can’t afford to, then sell it and suffer like all the other real business owners are suffering.
Why should landlords be a protected species in all this?
Re: Covid-19: Landlords will kill our economy
#8I think most landlords are wealthy people who are easily placed to weather this financial crisis. By definition if you are wealthy enough to own property beyond one house then you’re wealthy enough to survive this. And if you can’t afford to, then sell it and suffer like all the other real business owners are suffering. Why should landlords be a protected species in all this?
You can’t sell if no one is buying and if it’s anything like some stories I’ve heard, some people are doing interest only loans on houses
If you sell it for less than your mortgage, you’re still on the hook for that loan, too.
The situation is complicated and ‘just sell it’ comes with other problems.
Re: Covid-19: Landlords will kill our economy
#9This makes a lot of sense. Rentiers are among the worst. My rental contract is so strict that it is insane. For example, I have to give 60 day notice, but those 60 days have to begin on the 1st of a month. It can't be 2nd or the last day of the previous month, it has to be the 1st. Rentiers deserve no protection, especially when everyone else is bleeding
I’ve never seen a contract so strict. There might be a lawsuit in there. If not, there’s definitely a complaint you can raise.
They probably don’t accept the first of the month if it’s a Sunday, either, right?
Re: Covid-19: Landlords will kill our economy
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