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Forum » Based landlords getting on the front foot during this pandemic...
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Thread: Based landlords getting on the front foot during this pandemic...

post 1600398311 03-21-2020, 08:41 PM
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#31
  1. Vhagar
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Originally Posted By v0icesinmyhead⏩
bank forecloses? what?

round here the tenant gets their eviction notice. they can dispute. a date is set (usually 2 months after required move out date, since its so backlogged). they make their arguments. if the tenant loses he has 5 days to vacant the premises otherwise the police escort them off the property. any leftover belongings will get trucked towards a storage unit (all on tenants bill).

the worse thing you gotta worry about is the tenant coming back to vandalize your place which is quite common.
You’re a ruh tard
post 1600398341 03-21-2020, 08:41 PM
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#32
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so what happens when they the landlord misses their mortage payment
post 1600398371 03-21-2020, 08:42 PM
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#33
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Originally Posted By lolXlol⏩
and there we see the failure in the capitalist system

zero humanity, zero compassion, zero empathy
Few people have actually felt any impact of this virus yet(with the exception of maybe service industry?). However, many more people are trying to use this as a reason to obtain rent concessions from their landlords. I've had the millionaire parents of students at an elite college try to plead poverty in an effort to get a break on their kid's rent. This is bull****, and exactly the type of behavior that these letters are trying to get in front of.
post 1600398501 03-21-2020, 08:43 PM
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#34
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Originally Posted By TurbanMon⏩
so what happens when they the landlord misses their mortage payment
Apparently nothing because all landlords are evil

Also, orange man bad
post 1600398531 03-21-2020, 08:44 PM
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#35
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Originally Posted By ErnieMccracken⏩
That's called a risk of doing business. Almost every other business is going through revenue shortfalls right now. The idea that slumlords (who are mostly parasitic middlemen profiting off poor people) should be completely exempt is a bit silly.
why should landlords assume all the risk if there were no benefit?
do you believe the grocery store is "scum" for marking up the price on products to make profit?
post 1600398681 03-21-2020, 08:45 PM
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#36
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Asking tenants to drain their 401k to pay rent for their apartment is dispicable, with markets being down 30+ percent and then paying a 10 percent penalty.

Retirement accounts are usually shielded from legal judgements anyway
Best lifts:
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post 1600398801 03-21-2020, 08:47 PM
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#37
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post 1600398841 03-21-2020, 08:47 PM
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#38
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Originally Posted By induced_drag⏩
I am missing the point about how asking people to pay rent, and if they don't, evicting them is somehow wrong.
Not "wrong" in moralistic terms, but in context of recent events, not the best outcome for society. I think daddy trump will end up freezing mortgage payments for a few months rather than send hundreds of thousands streaming into the streets.
post 1600398931 03-21-2020, 08:49 PM
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#39
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Originally Posted By SaviorSelfJT⏩
Asking tenants to drain their 401k to pay rent for their apartment is dispicable, with markets being down 30+ percent and then paying a 10 percent penalty.

Retirement accounts are usually shielded from legal judgements anyway
If a person doesn't have a rainy day fund, they should lower the amount they are putting into their 401k until they have one. I will never again not have at least $20k in a liquid savings account.
post 1600399061 03-21-2020, 08:51 PM
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#40
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Originally Posted By ErnieMccracken⏩
Not "wrong" in moralistic terms, but in context of recent events, not the best outcome for society. I think daddy trump will end up freezing mortgage payments for a few months rather than send hundreds of thousands streaming into the streets.
I bet bars and restaurants get to open back up before they start freezing mortgage payments..... I wouldn't be surprised if much of everything opens back up around April 1st.
post 1600399271 03-21-2020, 08:53 PM
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#41
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Originally Posted By OliverHeldens⏩
If a person doesn't have a rainy day fund, they should lower the amount they are putting into their 401k until they have one. I will never again not have at least $20k in a liquid savings account.
Agreed people should have a rainy day fund. And agreed that people shouldn't be able to live in someones place for free. But who knows, maybe they already drained their rainy day fund for medical expenses or something else. Either way, raiding your 401k especially in a time like this should be completely off the table
Best lifts:
Bench press: 315x5
Squat: 465x1
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post 1600399561 03-21-2020, 08:57 PM
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#42
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Originally Posted By XFactor416⏩
lol.

this is why the world is fuked. in a time of human compassion where we need to bond together, we will prioritize greed.
yeah Im sure the landlord's mortgage company is feeling equally compassionate.

So theyre supposed to just chit out cash from thin air and cover the rent for their tenants.
post 1600399721 03-21-2020, 09:00 PM
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#43
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Originally Posted By Anachron⏩
What's the point of this thread again?
Mike's apartment.
Me caveman, put round things on bar, lift, pound chest.


2jz, S55, M48.00
post 1600399761 03-21-2020, 09:00 PM
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#44
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That last one Portland OR?

Wouldnt be surprised. Scummy city.
post 1600399861 03-21-2020, 09:01 PM
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#45
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Leverage - everyone told me... “You’re a fool to pay cash.”

Just lmao @ them. Sleep tight at night crew.
post 1600400151 03-21-2020, 09:06 PM
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#46
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scum thinking they can live rent free because of this.
post 1600400211 03-21-2020, 09:06 PM
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#47
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Originally Posted By FingerNailsBrah⏩
They are doing that. As a landlord you should probably read up
Everyone on misc now landlords.
Last month we were all investment fund managers.
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post 1600400351 03-21-2020, 09:08 PM
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#48
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Already the big 4 banks in Australia talking about giving 'mortgage holidays' to those poor poverty stricken homeowners that can't afford to live. I'll just keep paying my rent I guess.
post 1600400541 03-21-2020, 09:11 PM
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#49
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This is the problem with being leveraged to the max. In theory, it's great to borrow as much money as possible at a rate lower than inflation, but when things go wrong and your cashflow from tenants is interrupted, you are screwed.

I saw a "26 year old millionaire" semi-clickbait article the other day. The guy had multiple rental properties worth ~1.4mm but he had 1mm of it financed. Hope he has some cash in the bank for these next few months if things don't go as planned.
It is in your best interest to cut some slack to a tenant that otherwise has a good payment history, doesn't destroy the property or cause problems, etc; and eventually be made whole. Sure, you can evict them and all that, but then you have to fill the unit with another tenant and risk that one being a problem.
post 1600400591 03-21-2020, 09:13 PM
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#50
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These landlords better hope they're rainy day fund and 401k are big enough to cover their mortgages. Good luck finding tenants to pay your mortgage in this chit storm. But eh, if you can't pay the bank, fuk off its the banks property now lol.
Virtue is its own reward.
post 1600401011 03-21-2020, 09:18 PM
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#51
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Originally Posted By HaiMeesk⏩
Everyone on misc now landlords.
Last month we were all investment fund managers.
Before that we were millionaire bitcoincels. Amazing.
post 1600401261 03-21-2020, 09:22 PM
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#52
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lmao
as someone who has gotten eviction notices like 30 times, they cant do sht.
especially if the government steps in
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post 1600401281 03-21-2020, 09:22 PM
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#53
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Originally Posted By volleys⏩
if mortgage payments aren't being suspended than neither should rent.

blows my mind that anyone rents without having at least 6 months of their rent's $$$ in their savings. although I guess if they were smart, they wouldn't be renting, would they
Do you even read any business articles? 60% of americans live paycheck to paycheck.
post 1600461881 03-22-2020, 03:15 PM
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#54
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I'm all for capitalism and being financially ruthless
But in times like this, and issues like this you've also got take into the PR factor

If you go too far and lose the public sentiment you're gonna end up getting attacked and your property destroyed anyway
post 1600462781 03-22-2020, 03:27 PM
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#55
  1. Frank Drebin
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As a landlord myself, what good does evicting sometime right now do? Who in their right mind is looking for a new rental place now besides those that were evicted from other places.

I might have to eat the costs or most of the costs for a few months. I look at our situation and her situation and it feels like the right thing to do given the circumstances.

I'd rather have someone in there taking care of the place and at least paying utilities rather than it sitting vacant.
post 1600462951 03-22-2020, 03:29 PM
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#56
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Originally Posted By Nicklol⏩
lmao
as someone who has gotten eviction notices like 30 times, they cant do sht.
especially if the government steps in
Ontario, Quebec and bc are very tenant friendly. Iirc you can't charge a damage deposit, and I think in Quebec you can't say no to pets.

At least in ab it's somewhat fair for both sides.
post 1600463001 03-22-2020, 03:29 PM
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#57
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Originally Posted By ErnieMccracken⏩
Would be tempted to go full scumbag squatter. Eviction process will take 6-8 months, at least.
Lol
post 1600463081 03-22-2020, 03:29 PM
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#58
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Originally Posted By Anachron⏩
Depends on your local vacancy rate.
Things weren't great before the Covid...
post 1600463461 03-22-2020, 03:34 PM
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#59
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Originally Posted By Anachron⏩
Then yes, doesn't make sense to evict over missed rents.

Local is under 2%, so it's a different story here.
Aren't you from ab?
post 1600464091 03-22-2020, 03:43 PM
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#60
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Originally Posted By Anachron⏩
Nope, don't confuse me with Trailerbrah™
Huh. I always assumed you were.

Yeah things weren't great in Alberta for the past 5-6 years, now this.

Great ****ing investment.

Glad I hammered away at that mortgage tho.
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