What are deadbeat tenants planning to do once eviction restrictions end?

Why would you pay for something that you don’t have to?

what's the plan? wrote:

If you are currently taking advantage of the eviction ban and not paying rent, what are you planning to do once the eviction restrictions end and you've accumulated a tab of thousands of dollars? If you "can't" pay now, how are you expecting to be able to pay in the future? Or are you just planning on bailing at that point and not paying what you owe? If so, do you expect to find another landlord who will lease to you with that on your renter history?

The deadbeats safe the money, invest in bitcoin and Tesla. When their landlord defaults in a couple of month, they can buy that property.

Capitalism at work!

They will just run for house of representatives and encourage others not to pay their rent either.

https://www.youtube.com/watch?v=XPDVjfFKFHc

I'm on the other side of this right now. Moratorium since last March. Almost an entire year of income down the drain.

I don't expect I will ever be able to collect. I just want my property back so I can sell it and put the money in the market instead of real estate.

Expect a flood of rentals hitting the market soon. Then tenants can buy them all up and run them down.

what's the plan? wrote:

If you are currently taking advantage of the eviction ban and not paying rent, what are you planning to do once the eviction restrictions end and you've accumulated a tab of thousands of dollars? If you "can't" pay now, how are you expecting to be able to pay in the future? Or are you just planning on bailing at that point and not paying what you owe? If so, do you expect to find another landlord who will lease to you with that on your renter history?

Wasn't the purpose of the eviction restrictions to help people who had lost their jobs due to the pandemic? I wouldn't call such people "deadbeat" tenants.

bryan evans wrote:

I'm on the other side of this right now. Moratorium since last March. Almost an entire year of income down the drain.

I don't expect I will ever be able to collect. I just want my property back so I can sell it and put the money in the market instead of real estate.

Expect a flood of rentals hitting the market soon. Then tenants can buy them all up and run them down.

If you're in California I'm sure there will be laws put in place to make it even more difficult to collect rent after the pandemic. I've been lucky with the tenants at my rental. But our states unfavorable laws have led me to not invest further in real estate. To easy for tenants to not pay for 3 months then skip to the next location and no real ability to collect.

Hire a rent collector. After a couple of deadbeats end up with broken legs the rest of your tenants will happily negotiate a payment plan with a hefty interest rate.

What are you talking about? If they lost their jobs they won't be able to pay rent and you can't later collect rent from people that don't have money, no matter what state you live in. If they hadn't lost their jobs, they could pay continue to pay the rent like they did before the pandemic.

bryan evans wrote:

I'm on the other side of this right now. Moratorium since last March. Almost an entire year of income down the drain.

I don't expect I will ever be able to collect. I just want my property back so I can sell it and put the money in the market instead of real estate.

Expect a flood of rentals hitting the market soon. Then tenants can buy them all up and run them down.

Property owners that rent property are hated almost as much as those who work in law enforcement. The current media and political climate will only get worse for both, and liabilities will compound. I can't understand why anyone would enter either business going forward in the US. You are putting so much at increasing risk, for so little gain.

You know that almost every tenant needs a job to get a lease?

And that landlords don't need to work because they get income from their tenants?

Who's the real deadbeat here?

Your investment has likely still increased in value since you bought it - sell your property to realize its gain.

You're complaining about not being able to collect rent on top of the capital gain on the asset. No other investment operates like this.

Rebulphitudinal wrote:

bryan evans wrote:

I'm on the other side of this right now. Moratorium since last March. Almost an entire year of income down the drain.

I don't expect I will ever be able to collect. I just want my property back so I can sell it and put the money in the market instead of real estate.

Expect a flood of rentals hitting the market soon. Then tenants can buy them all up and run them down.

Property owners that rent property are hated almost as much as those who work in law enforcement. The current media and political climate will only get worse for both, and liabilities will compound. I can't understand why anyone would enter either business going forward in the US. You are putting so much at increasing risk, for so little gain.

None of that is true. Rental property has almost always been a good investment and always will be. Tenants are evicted all the time and few take it personally. The landlords that are hated are the ones that don't make the repairs required by the lease agreement. Politicians and the media do not expect landlords to give away their property rent free.

Tatar wrote:

You know that almost every tenant needs a job to get a lease?

And that landlords don't need to work because they get income from their tenants?

Who's the real deadbeat here?

In which they bought the property and have to invest to maintain the property.

Tatar wrote:

You're complaining about not being able to collect rent on top of the capital gain on the asset. No other investment operates like this.

Dividend stocks.

bryan evans wrote:

Tatar wrote:

You're complaining about not being able to collect rent on top of the capital gain on the asset. No other investment operates like this.

Dividend stocks.

Dividends are paid from profits and profits are derived from sales of a service or good.

Landlords can extract rent forever. A patch of empty land will generate rent.

bryan evans wrote:

I'm on the other side of this right now. Moratorium since last March. Almost an entire year of income down the drain.

I don't expect I will ever be able to collect. I just want my property back so I can sell it and put the money in the market instead of real estate.

Expect a flood of rentals hitting the market soon. Then tenants can buy them all up and run them down.

Do you think you'll ever invest in rental properties again or has everything that's happened this past year put you off from it for good?

Tatar wrote:

You know that almost every tenant needs a job to get a lease?

And that landlords don't need to work because they get income from their tenants?

Who's the real deadbeat here?

That's pretty much it.

There was always something inherently wrong about the landlord - tenant relationship.

The landlords had always the upper hand and could raise the rents as much as possible. While tenants had fixed incomes and their wages didn't go up at all most of the time.

No idea how you fix that here in the US but other countries found solutions.

Mom's basement, like you and the rest of the LRBF.

Tatar wrote:

bryan evans wrote:

Dividend stocks.

Dividends are paid from profits and profits are derived from sales of a service or good.

Landlords can extract rent forever. A patch of empty land will generate rent.

Rent is "revenue" and may or may not yield a "profit" when you take into account "expenses." You have overreached on this one. Sorry.