Springfield Gardens, NY · Member since 2017 · 258 posts · 63 votes
Want to see how you feel like eviction moratorium expiring? do you think they will just extend it? going to be crazy back up and bottle neck? I know in NY it was hard enough evicting before covid ever hit the scene, can't imagine what it would be like now. Wonder what its like in your market?
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
5y
The longer they keep the moratorium, the worse the economic damage from it. Odds are very good that congress or the President will extend this through at least mid 2021. The best hope landlords have is a lawsuit that makes its way to the supreme court to rule these moratoriums unconstitutional. In my opinion, they violate the taking clause and due process clauses of the constitution.
Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes
5y
@Isaac El Looks like they’re extending it. Any insight for $ for tenants who are behind on rent? I’m reading 25 billion for tenants. How will they know the tenants are going to use it to pay rent?
@Isaac El Looks like they’re extending it. Any insight for $ for tenants who are behind on rent? I’m reading 25 billion for tenants. How will they know the tenants are going to use it to pay rent?
This is such a mess, and your right, they need to figure out something where the money comes directly to landlord, The eviction process in NYC before covid could take 2 - 3 years, no idea how long it will take now but could see it being double.
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
5y
Not going to happen soon. Too many tenant votes vs landlord votes and politicians can do one thing well - Count votes.
Even with the vaccine, we have flu vaccines and still get the flu. We've had one lockdown after another and each wave gets worse and the pols really have no clue on how to fix anything.
Not much you can do but have a plan in place and follow it . The reality is worrying about if it’s extended or not doesn’t solve the problem . It’s like worrying about who will be president , it’s outside our circle of influence. All year I was warned by tenants I could not evict ...yet I’ve evicted folks all through this pandemic so there’s ways to go about it . You must form a strategy and be able to adapt as you go . It’s a rocky ride ahead so buckle up .
Sounds like regardless whether they allow landlords to resume evictions or not, it’s going to be hard to find quality renters in 2021. My rental lease expires in April 2021. Should I sell the property since it’s going to be a bad market for landlords? (I have full time job and very young kids... don’t really have time to deal with any bad renters and potential evictions).
It's scary to think about how long this backlog will take to get through and when we will get through this. That's why I really believe its important to take care of your tenants because the tenants we've had for over a year are working with us and we are working with them. It's the tenants we inherited and the ones we just placed that are tough to deal with. They don't realize we are not out to hurt them and are in this together. NYC is rough, good luck out there.