All Forum Posts by: William Coet

Originally posted by @Christopher Smith:

From what I've seen so far all authorities that have been asked to assert the concept on the behalf of tenants as a class have asserted that there is no authority for them to require such relief. 

Whether individuals will successfully assert the concept on their own behalf given the current situation is anyone's guess. I'm sure some will try.

Some are trying already.  My question is what would happen if a property tax payer cited force majeure and withheld property tax payments...I'm sure it would depend on a lot of things.  Trying to get a discussion going on the topic to see if anybody has experienced this or has insight.

Thanks!

This is a hypothetical question, but what would the taxing entities forgive property tax payments if a person were to claim force majeure?  There are commercial tenants refusing to pay rent for this reason...

Is there a way to analyze if a pre-construction condo will be worth more once it's built?  I know people were seeing big profits with this "pre-crash" and I know some got stuck too.  I'm considering buying into a unit in a pre-construction project.
Thanks!

Originally posted by @Jay Hinrichs:

Originally posted by @Bill F.:

@Carl A. welcome to dealing with credit tenants. They are trying to throw their weight around and know that they have you over the proverbial barrel as @Jay Hinrichs said. 

Lets call a spade a spade, you aren't going to kick them out. If you did it would take a long time to find another dentist or you'd have to white box the space, which is $$$. 

They care about slowing their burn rate to the bare minimum right now, so you know what they want. Work off of that. 

See if you can re-do the lease; you give them six months of no rent and in exchange you get a  longer lease, more generous rent bumps, lower TIA, higher CAM fees, better extension options. 

Get creative. This is where you can extract a premium for having the liquidity that they don't. 

U don't want them going into chapter 11 and doing cram downs etc.. this will pass  people NEED dentists  those are strong tenants in a normal market.. its just not normal now..  so we all have to be creative and work with business's they are under a ton of stress think about it.

@Jay Hinrichs , excellent points on this subject, but what is a "cramdown"??

There have been six 10-year periods since 1900 when equity returns were negative or low (below 3%).  Three of those 10 year periods were negative. The most recent era of low returns was 2002-2011 where the average return was 2.9% for the period.  My conclusion is that timing and stock selection is important. 

To be clear, one election can change everything.  People have to contact housing provider associations and vote. 

This type of behavior isn't only bad for housing providers, it's bad for tenants too.  Housing quality will undoubtedly deteriorate if this behavior by self-serving politicians is allowed to manipulate the minds of people who don't know any better.  Just take a look at the housing in countries where a small group of politicians promises the world and uses the government to take over property and the lives of private citizens. 

Housing providers need to wake up and get organized.  We provide housing, and most of us do it very well.  Tenants will benefit from higher quality housing and service that they won't receive if these self-serving politicians get away with lying to them for their votes.  I wonder why these politicians are willing to take our income away but not surrender their salaries and excellent health insurance for the next three months, while still working for free?  One word: Votes

In NY State these folks seem to be on the ball: https://www.facebook.com/UNDER...

Here is one of their videos that they recently presented to NYS Representatives on this subject: 
Search these words:  under one roof advocacy you tube

@Christian D.  Thanks for the update!

Originally posted by @James McClincy:

Originally posted by @Nathan Gesner:

Originally posted by @James McClincy:

Absolutely. Do you have some evidence to show that the people most likely to support this movement are NOT under 30 and below middle class? I'm always open to evidence!

you made the claim and have zero evidence to back it up. just an opinion.   

   According to the definition of evidence, he did provide evidence.  He made a statement based on information he has (which he explained). This meets the definition of evidence.  If you are suggesting he is a liar and that he is lying about his observations than that is a very different accusation than the incorrect one that he has not provided evidence.  But you can't have both someone providing factual information as evidence, and a liar.  So which is it? Do you want to call him a liar or do you want to rescind your claim that he did not provide evidence?

evidence by definition: "the available body of facts or information indicating whether a belief or proposition is true or valid"

@Christian D.  Below is excerpt taken from proposed bill (if you read below the first few paragraphs you will see it, you may need to click on the arrow down):  This makes me wonder, will there be another bill that states lawn care contractors, the plumbers, and the heating service people all have to work for free for the next three months?  This is ridiculous

"Such residential tenant or small business commercial tenant shall not and shall never be required to pay any rent waived during such time period."

Make no mistake, housing providers are tenants too.  If the property taxes aren't paid the government takes your property. It's as simple as that.  We pay property taxes to four different taxing entities.  School tax, village tax, town tax, and county tax. 

I just read in another thread that LA County has stated property taxes are still due because they are needed to provide services.  Rental payments are needed for the same reason, to provide services.