Landlord's Rights Being Violated

[Judy Parker]

The landlord-tenant world changed last night. The US Senate’s COVID-19 bill changed the landlord’s rights. That bill, passed last night, affects landlords that have federally insured (or “backed”) mortgage loans. Those landlords may not charge late fees or attorney fees to tenants while the COVID-19 emergency exists and may not file to evict for non-payment. That bill does not require landlords to send notices but does include the prohibitions against filing to evict, late charges, and attorney fees. This will be the law if the House passes the Senate bill without changing these prohibitions.

[John Teachout]

Originally posted by @Jack Seiden:

Threads like this make me angry. The reason we all get to make on r/e is because we take on some risk (Some more than other’s) and sometimes like now that risk goes bad. We also make money because some people literally don’t make enough money to save anything much less for down payment. The same reason you get to make money being a landlord is the same reason you might not get paid for a few months, now hopefully you’ve saved money for a downturn but this idea that you should get to make money with no risk and no downside ( especially the people with thier c/d class that was on paper 10% roi.) is so entitled.

 Landlords do take on risk and they take steps to mitigate those risks. Having someone from the outside determine you're going to take a loss is what the complaint is here. While there are prohibitions from evicting someone, there is no mandate to forgive rent. We'll work with our tenants to the extent needed as far as deferring rent and forgiving late fees but we WILL get all of the rent eventually or they'll be leaving the property. We provide a product in exchange for compensation. If there's no compensation, we won't be providing that product to them. If some landlords want to subsidize their tenant's financial choices, I'm perfectly fine with that, just not us.