The way I see it seattle landlords are more responsible than anyone for creating the situations where businesses must stay open and people have to go to work.
I don't see a lot of discussion and I don't imagine there will be any pressure to do the right thing without people talking about it.
Well?
Posted Mar 18, 2020, 9:19 PM UTC
I think every landlord with some sense should let their tenants defer rent payments until the whole quarantine thing is over. The landlords would still owe mortgage in the end and there's no way they are going to get someone else take over the lease anytime soon.
[deleted]
So you kick out the business and...? Rent magically appears out of nowhere? Realistically everyone should have some funds even for those times when the property is simply vacant.
I missed the word businesses. Womp.
landlords still have to pay the mortgage. this isn't magic.
Not necessarily. But supply and demand is still at play. You could kick out a renter, but who would replace them?
Not necessarily.
believe it or not, there are landlords out there who don't own their properties free and clear. yes, they still have to pay their mortgages. Even if they own it free and clear, they still need to pay property taxes. I think OP imagines that all landlords are fat cat monopoly men, twirling their monocles and laughing at the peons whilst atop a fat stack of cash. If my landlord didn't pay their mortgage, I'd still be out of a house. It would have to come from the banks first, deferring mortgage payments - and we know that's not going to happen.
You could kick out a renter, but who would replace them?
kick out one renter and another will come along. this IS Seattle. still a hot market for renters.
Well the banks have some responsibility too. Nobody is coming along to rent come a few weeks from now, shit will be at a standstill and if it isn't make sure you've said everything you need to say to grandma just in case.
So, I’m a bit out of the loop, how are Landlords responsible for the situation? Is there an action they should take or something they shouldn’t do to fix it? And what exactly is the situation?
I’m imagining a group of angry Landlords with NIMBY logos on polo shirts forcing people out of their properties with brandished garden tools, but I’m not sure that’s what is happening.
It's not just the little guy. The small businesses too.
HUD has suspended all evictions until the end of April.
Only helps if you're in HUD housing or have a HUD mortgage.
society is so leveraged with debt that if landlords don’t get any rent ( and nothing else changes ) they would be foreclosed, and you’d still get chaos affecting the renter. That’s true of most landlords, even really big ones like real estate corporations and trusts.
The feds are doing the right thing now and sending renters cash so that chain reaction doesn’t happen.
What do you expect reddit to say that will help? If there is anybody you should talk to, its your landlord.
I'm doing fine. But while the rest of the world is frozen the landlords still want their checks. Maybe this should fall on the lenders or a combination of both. edit: Reddit throws shitfits and shames they can whine and shit can happen.
Well, you didn't really even attempt to explain that, so...
Dude why do you think a 6 pack costs 12 dollars? Because of the sky high rents the stores have to pay. What do you think is happening to restaurants right now? What about their waiters?
I don't have to explain this to most people.
No, business dont want income flow to stop. They literally wont stop unless forced to. Even then what is "essential" is left open for debate. I just want to not lose my job, and not die. Both things.
The IMF says this will be worse than 2008 now.
Nationalize all housing and all other goods and services necessary for a healthy lifestyle.
and the glory of the Dear Leader!
i wish it were that simple. most landlords are hugely over-leveraged and need rent payments to make their mortgage payments or their properties will be foreclosed on, which would result in tenants also losing their housing.
Wouldn't this affect them too as they wouldn't have to make their mortgage payments?
[deleted]