All Forum Posts by: Aleejandro Dela Vega

@Lee Perry

Have you thought of cash for keys? Just an idea if your courts aren’t open for rental related business.

@Mark K.

Actually the biggest problem with the federal moratorium is that they just have to say they are using “best efforts” to make a payment and obtain help. Also from what I understand they don’t even need to prove that Covid is the culprit. Don’t forget that most judges and rules will be in favor of tenants. It’s a very bad situation but as I’ve said it before, landlords are easy targets because we are viewed as having deep pockets and often times, evil.

@Michael Lloyd

With Trump’s new CDC moratorium things just got a bit murkier until the end of December, but if your tenants are month to month you may be able to give them a 30 day notice depending on your State’s current rules. Have you thought about cash for keys? That is what I did. The way I see it, I would rather give them a month and a half of rent or even two as opposed to loosing six, seven,... months, and who knows how long the moratorium will keep getting extended.

@Jeff Short

I’ve decided to cut back on real estate here in Vegas. Out if 10 houses (9 rentals and 1 personal) I will be selling 4 in total. I had to get cash of keys on 3 of them. With government extending moratoriums all around the country I don’t see an end in site. There’s a strong possibility they will extend passed January as well since there is no plan to help out renters and landlords. I was shocked to hear Trump put in his own moratorium, but I understand wants those votes.

The market is very strong for sales and am taking advantage of that situation.

On your end, its a tough call because of the cash for keys thing so you need to weigh your pros and cons.

@Eric Bilderback

I am at 70% here near downtown Las Vegas on 9 rentals, class B.

Luckily I was able to get keys in exchange of cash on 3 of my properties right before Trumps new CDC moratorium. I already sold one house, I have another in escrow and starting on another. I’ve decided to reduce my exposure to real estate for now.

@Michael Lamando

It’s really unbelievable. I spoke to an attorney, here in Las Vegas, and he agreed 100% that this is a taking by the government. The problem with doing a lawsuit, is that it would more likely get a lot of attention and your name might be mentioned in whatever article.

What we really need is a landlord Association or an advocacy group that represents us. Personally I would gladly pay a fee to be part of such a thing. The million dollar question is, how is one started...

@Greg M. Very frustrating indeed. I’m in Nevada and our governor seems to be going in the same direction as yours. I was shocked to see DeSantis extend another month in FL.

These moves have a strong chance to turn off a good number of landlords and send them to states with a more favorable environment IMO.

@Michael Lamando

I just came across this article. It looks like landlords are starting to win in court and should have no issues due to the moratorium being unconstitutional. It’s about time that some are starting to take a stand.

 https://www.google.com/amp/s/amp.cincinnati.com/amp/3144939001

@Tony Gaultney I would pass. The cap rates and returns seem good upfront, but the stress that comes with owning a property in those neighborhoods is up there. First of all collecting the rent is usually always difficult. Then the wear and tear on the place is really bad. Even if the tenant only stays for six months you will more than likely need to repaint it and probably even replace the carpets, replace doors, repair in holes in walls, deal with police eventually, etc.

I personally bought a house in such a neighborhood, here in Las Vegas, and will never do it again.

I would suggest looking into B neighborhoods. With everything going on now you might be able to find someone that wants to get out and get somewhat of a discount on the place. Good luck!

@Mary Mitchell If they were that powerful, I’m sure they would have been all over the fact that the moratorium is unconstitutional and would have been active in either, gathering petitions, getting landlords to file a class action lawsuits or at the very least lobbying to put and end to this.

Am I missing something?