Forgive me if this has been posted before. A search didn't find anything. As you probably know, the Democrats in the House passed the Hereos Act, A part of this bill calls for a Federal Ban on evictions of any residential property for non payment of rent. This is extended for 12 month after the pandemic is over. No recourse for landlords. I rely on my properties (which are paid for) for my living expenses. Also in there is a provision stating the back rent will be forgivable. If the Senate passes this bill, I may be without income for a loooong time. Does anyone know any more about this?
Forgive me if this has been posted before. A search didn't find anything. As you probably know, the Democrats in the House passed the Hereos Act, A part of this bill calls for a Federal Ban on evictions of any residential property for non payment of rent. This is extended for 12 month after the pandemic is over. No recourse for landlords. I rely on my properties (which are paid for) for my living expenses. Also in there is a provision stating the back rent will be forgivable. If the Senate passes this bill, I may be without income for a loooong time. Does anyone know any more about this?
You ever notice how so many bad laws, acts, groups and movements are titled in such a way that it is considered shameful to oppose them?
The tenant isn't forgiven. They will need to pay you. Lawyers are available. People sue for everything. I guarantee tenants will not want a lawsuit on their record, especially if the court sees they had the money to pay you, but did not. With todays access to information, you don't have to evict, just sue them. That could be a loophole that sticks on their record. I'd forewarn them, to avoid this. I know, lawyers aren't cheap, but this is still a business. Be kind, be firm, but be professional.
@Cheri Jones prior to the virus people were already looking for places with more room and some grass. Then the virus came along people want fewer crowds. Work from home has become more popular with employees and employers alike.
Now comes the rioting and looting; and the inner cities are hammered some more. Many businesses will never reopen and not everyone will want to take an elevator ride to their tiny apartment.
Commercial space will be hit harder than residential but both will be pressed. Lots of store fronts will stay empty and boarded up; not a pretty sight. Who's to say where this all goes.
This is almost comical to me that the government thinks landlords are going to take care of free loading tenants. I’m sorry to say but I am not taking out a loan to cover someone else’s rent because the government told them they don’t have to pay. I am a single mother and own 8 properties. I should 9 mortgages?! No. I can tell you what is Going to happen. If my tenants choose to not pay rent, I will choose to not pay their utilities 🤷🏻♀️. Or maybe even better not pay my mortgage so we can end up back in a housing crisis. At which point I don’t pay my mortgage the bank will foreclose on the property and the tenants will still be homeless...I am extremely disappointed in our Country in 2020.
Sorry, but im not clear on one part.
Is it saying the tenant does not have to pay for 12 months on the day this bill is put into place (if, it would pass) and then ends... ex. say 7/1/2020. So after 7/2/21.... this bill no longer applies anymore?
Or is it saying once this bill is put into place (if, it would pass).... ex. say 7/1/2020. If i new tenant moves in on say 8/1/2021... they dont have to pay for 12 months? So this bill is put into place with no expiration?
i believe this bill expires after 12 months from when it goes into place vs. being in place forever, but wanted to confirm
The most important thing to this is not a question of will this bill pass or not, in what form.
The MOST IMPORTANT take away from this is a MAJOR political party whom controls on average 50% of political power is declaring, publicly AND proudly they are pursuing a SOCIALIST MARXIST agenda, including the removal of private property rights.
And worst of it all, there is not a national outcry at the mention of such. There is actually much open arms to such.
This is the living diary of how a capitalist nation becomes a communist one (yes, I said it, the C word because that IS what it is).
It is of paramount importance HOW this is being done, remember this is politics, half of the entire point is in the how, and this is being done loud and proud, that is a declaration that this is the direction they are driving not just with this bill but with the next and the next and so on and so forth.
The bill states a time frame for it being imposed, that is a measure called Public COnsumption, which is a political move on when you know the public could oppose something in it's entirety, make it appear in smaller portion, or lessor effect, to get it into law and then down the road simply expand upon it.
The removal of property rights is no small thing, this is not a bailout or some adjustment of laws, this is the total change to a fundamental of our society and nation itself.
I have read some say this isn't Venezuela, guess what, it is! Venezuela was once a free democratic nation, and the economic superpower of South America. And it went through an assault on it's freedom, masked in the packaging of help for the poor and worker class. So while we are not today's Venezuela, we ARE yesterdays, and the only question is will we continue down this socialist path into oblivion?
There is absolutely no way Democratic lawmakers don't know what they are doing, that they don't know the destruction it will make to the entire housing industry, there is 0% chance they are that naive and ignorant. That leaves only 1 potentiality; it is with knowing intent, and their motive is worth the damage it will bring. So I ask, what motive could be so great to be worth the destruction of the rental housing industry? There is only 1 answer, Oligarchy, state-controlled housing. Imagine the power that comes with state-owned housing? The control they could tap to hold political control indefinitely, as 1/2 of the entire rental housing in the U.S. will be destroyed but this as the only who could survive such are corporate level entities.
Socialist Oligarchy.
I remember a time not long ago when person who even whispered of such ambitions would be swiftly rounded up by the FBI and stand trial, and disappear. Gorbachov was right when he told Regan the U.S. will not fall from invasion but from inside. Here we are.
@John Patterson - You make a good point. I've gone down the lawsuit path once in the past with the only tenant I've ever had that conned my property manager and I out of several months rent - long story. Hired attorney, sent her several warning letters, filed suit when she never paid anything after telling the attorney she would, got summary judgement when she didn't appear in court and the attorney fees and filing costs were reasonable. But,.....she still never paid me back and I'm out the back rent plus attorney fees and filing costs. Whole process took probably 6 months. It's on her permanent record but she was able to rent somewhere else from her next victim who didn't do credit check. So, if they don't allow credit checks with this Act, then even if you file suit, you're out more money and they can find another place to live without caring what's on their credit report.
Who owns what? Things I have are paid for. Yet, who’s the actual owner? The government is because if they weren’t I wouldn’t have to pay taxes.Unless, you have Allodial Title ,which unless you are your own Sovereign Nation then you don’t have. Then if u have bank loans and such in order to finance your dreams (leverage using opm) great, your a middleman between your bank and the tenant. If the government didn’t own it, how come they can tell us when we can and can’t evict? Fill in the blanks people, connect the dots, can’t you see what’s going on?
@James Hamling well spoken
So, we are going to kill the economy and jack up the deficit even more... Ugh.
The right stopped caring about the deficit when they passed that last tax bill.
This won't happen...
This thing really scares me. If the progressives get control of the Senate and WH in November, then I would fully expect them to ram this thing through.
To avoid the No eviction for non-payment conditions in the Act, could you structure leases as month-to-month that can only renew upon receipt of the rent for the upcoming month. That would at least limit the exposure to one or two months. You wouldn't be evicting because the lease expired, giving them limited legal rights (I hope!).
@James Hamling I think there’s a book called Willing Accomplaces (circa 1956) that sheds more light. Everything with the Social Programs all the way down to the Social Unrest with riots. Instead of Bigger Pockets should be how do we keep our Pockets at this point.?? And any Idiot that wants to give Socialism or Communism a try should google what happened to private owners when Communism was introduced into China.
We might have to do cash for keys in a lot of cases. While the Act states you can't reject based on past evictions, nothing in the law says you can't reject based on bad landlord references (e.g. previous landlord says they didn't pay and had to offer cash for keys).
Everyone - as fellow landlords, we need to work together. I say everyone should absolutely conduct landlord references and be willing to provide when contacted.
Ben Clark - your information (on what checks can be done on a tenant) isn’t quite correct. I can’t give you legal advice, But it is well worth consulting your own landlord tenant attorney on this before you rent to anyone else.
I thought it might be good to re-post this....I guess you didn't read the part about $100 billion for Emergency Rental Assistance to help low-income renters at risk of homelessness avoid eviction due to the economic impact of the coronavirus pandemic. That is on top of the Tenant-Based Rental Assistance of $ 4 billion to to allow public housing agencies (PHAs) to respond to coronavirus and the ability to keep over 2.2 million families stably housed even when facing a loss of income, including $1 billion for new, temporary, vouchers for individuals and families who are homeless or at risk of becoming homeless, or fleeing domestic violence. Allows public housing agencies the flexibility necessary for the safe and effective administration of these funds while maintaining fair housing, nondiscrimination, labor standards and environmental protections.
That is a lot of assistance that will go directly into landlords pockets. I highly recommend you read the summary of the proposed HEROS Act. Just google Title-by-Title Summary of H.R. 6800 HEROES Act.
And apparently, lots of folks slept through their high school civics class. So I recommend you google How a Bill becomes a Law. Watch the delightful 3 minute cartoon with a catchy tune.
tried to delete a duplicate Post but this system won’t allow us to delete our comment
If this bill was passed, couldn’t land lords just put everyone on a month to month lease and if they didn’t pay you could be like “seeeee yaaa, get out”. Because then you aren’t technically evicting, you just aren’t renewing?
Seems like most of the issues on this thread are the ones that are in highly democratic areas. Arkansas may not be on anyone's wish list to live in but the rent is getting paid!! Renters in Arkansas are making more being unemployed than they were being employed!! lol
Forgive me if this has been posted before. A search didn't find anything. As you probably know, the Democrats in the House passed the Hereos Act, A part of this bill calls for a Federal Ban on evictions of any residential property for non payment of rent. This is extended for 12 month after the pandemic is over. No recourse for landlords. I rely on my properties (which are paid for) for my living expenses. Also in there is a provision stating the back rent will be forgivable. If the Senate passes this bill, I may be without income for a loooong time. Does anyone know any more about this?
I am always shocked when supposed professional landlords look at laws like this and either make excuses for bad laws, or say they will be ok. Sure, most tenants will continue to pay and many landlords will be either unfazed or only minor inconvenienced. But, any thinking adult can easily deduce, this law will in fact increase foreclosures, and force some landlords out of business. Not sure how statements like, "well most people are paying now" makes any sense. Yes, most people are paying now, but you are incentivizing more people not to pay. Why would any sane person reward people for not following legal documents? Sometimes am baffled by the complete lack of intelligent thought.
What I would advice to current landlords is to add addendum to newly signed leases that tenants will pay rent as stipulated in lease agreement and not take advantage of rent deferrals/deays. ets. If they sign- the landlord is protected. This helps. Also, with law suits, addendum is they key to protect your property, otherwise it leaves you at risk of slip and fall accidents, etc.
does this bill expire after 12 months from being put into place or does this 12 month no pay tenant rule last forever?
America doesn't belong to any race or people, even though it was English people that started it. Any country's people is free to move here, gain an influence, change policies, etc. which will affect the rest of the world. You can take away guns from European countries that are largely one people, and they will work for the common get and get along and not be needed. But you simply can't take guns away from Americans. It will never happen. That was the reason it was amendment #2.
I wouldn't worry too much, but I would tell people and warn them against this, but don't get worked up about it. Look on the budget proposal every single year, they always "consider" and try to outlaw basic rights every single year. They always try to remove veterans disability, for example. But it never, ever happens. There have always been communist party members in our country, and there still are registered communist members in Congress whose CPUSA meetings focus on destroying America and overthrowing the government and our free way of living through crippling capitalism.
Bas people have indeed grown extremely powerful and are trying to convince everybody that they make the decisions and control history. And, especially this year, they are hijacking every bad thing, advertising it through their propaganda news networks, and are trying to make all of us think we are the problem, so we feel hopeless and fight each other. Otherwise we'd get bored and notice..."why do YOU get to stay in power and so rich and get away with crime? where's my turn? why do YOU get to be above the law?" They can say whatever they want and fool whoever they can, but the course of history won't change. It didn't. It got too far, so the even greater powers at be are beginning to fix things. Bad people are being captured in large numbers and weeded out, but silently. The big star-puppets who promote these things like religious leaders, politicians, CEOs, Professors, and bankers - all buddies with the Chinese Communist Party, the most powerful criminals in the world, and do what they say, as the ccp is the head big boss of criminals. So they are panicked and feel good people are a thorn in their side and are doing anything necessary to destroy the upcoming election.
It's not that they think they can survive. They know their time is almost over, and they are just trying to take down as many people as they can. Their extremely arrogant attitude thinks they have the right to enslave us all, make us provide our own food and shelter, take away everything we have - even what's ours - and they're willing to do so from any angle. Example:
They have convinced our society that landlords are evil, and that this particular line of business needs to act as a charity.
Why don't grocery stores give free food? Why not clothing stores? What about breweries? I'm making a point here, that's all. They dislike landlords because land is one of the very few assets that pays you because it produces value based off itself being worth something and not the work anybody does, like stock, for example. It is real value. Other things are, too, like royalty rights and other intellectual properties, but those are relatively hard to secure and somewhat rare. Landlords are unlikely to support the redistribution of wealth, so they demonize them. It's the only group they cannot control or whose value they can't remove except under exceptional circumstances like outpricing people's homes through property taxes after high inflation and imminent domain (where they compensate you for the value of the parts of the asset but don't compensate you for the fact that you had permanent income forever that you no longer do.
There's only so much we can do, though. After all, it's the way the system is designed. The private (mostly) Fed lends us money, which we must repay as it's a loan, and with interest. But how much sense does it make for us to pay interest on money that doesn't have any value and is merely printed paper created to make the transfer of value convenient? Why would we owe them interest? They didn't put up or lend us anything of value. But until the world wakes up and realizes that all we have to do is demand Congress prints our own money, like US Notes rather than Federal Reserve Notes, and then demand that taxes are paid in US Notes, and we wouldn't have the problem of inflation anymore. Only natural inflation, rather than artificial booms and busts (which are NOT inevitable parts of some so-called "business cycle", but are the result of the sale and purchase of Treasury Bonds to make currency plentiful or to make it scarce, like to get everybody speculating, building, and gaining things, but then to crash it so they can swoop in and buy them all for pennies on the dollar for themselves.
This interest we pay....where is the credit for that debit? There isn't one. By design, most of the value can only get transferred to them through the government. You may have your money, but all the value has been gone. They legally stole your money, is what's happening. Inflation isn't really inevitable. That's just what they sell you on. It only happens when everybody's life improves by a proportional amount thanks to some new capitalist or investor adding benefit to society. It's so small you'd never notice. The gold standard was also not good, since it is such a scarce metal they have 2/3 of, it is easily manipulated. besides, transfer of value convenience is the purpose of currency. If the currency itself has value, how do you transfer THAT value? You can't. Fiat currency is the best, but only if it's public and printed by the people, debt-free, and only if just enough is printed to do the government's things and there is enough to facilitate trade among the people. Colonial scrip worked really well, according to our founding fathers, and so did Lincoln's Greenback. Silver was okay, because it is plentiful, but it still isn't ideal, cause its value can't be transferred separately, as it is intrinsic.
We don't even own our land usually, anyway. And even if you DO get a land patent, they can still use more guns than your and take it and cover it up and lie to those who find out. It's a way of powerful criminals pushing off their burdens onto those below them.
I can see self evictions increasing. Landlords will become desperate IF they don't collect rent after 3-6months and have to continue paying utilities in a property that tenants are living rent free.
I don't pay my tenants utilities? Do you?
In some of my properties, I pay utilties. In ALL my properties (save a few of the homes), I pay water.
Due to the pause in evictions, my managers have started to shut off water to the building for 1 hour a day, and install shut off valves between the main, and each unit. If someone isn't paying for months, and is basically saying "F you, you can't get rid of me", we're turning off their water, pulling their meters/breakers, shutting off gas, etc.
My managers don't get paid much hourly as they're paid mostly on property performance. Meaning they might make $10/hr base but on a property that should bring in, let's say, $30k a month, they might get 50% of all money after $25k. So if they collect $30k in a month they make an extra $2,500. That will take their $10/hr to $24/hr (most managers average $25-30/hr after bonus)
BUT, if they have a bunch of deadbeats not paying, that $30k/month property might only bring in $25k. So that's $2,500/month out of THEIR pocket. Being taken from THEIR family. So I'm not telling them to do anything about it but they're doing what they need to do to deal with freeloaders since the court refuses to step in.
My own rentals are out of state, but isn't it illegal in CA to turn off a tenant's water, even if they are not paying? I know it is in my local area.