I know you can't expect honesty from these people but it is a bit shocking to see "I'm a landlord of a 30 unit building and I literally don't have a cent in my savings account, please, my family will starve..." kind of stuff getting posted in response to a possible rent freeze.
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The funniest part though is how if the market dictated that rent went down by 11/12ths or whatever, which is the same as missing a month now, they would magically all be fine.
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This is what I'm not understanding either. You are in charge of maintaining the property. What would have happened if this pandemic never occurred and you had an expensive repair? Something that impacts your tenants greatly. Just eff'em huh?
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And that’s exactly what happens in many cases, landlords don’t fix shit that goes wrong with their places. I’ve seen friends live in incredibly unsafe situations as a result
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If only they had some property the could get equity out of or sell.
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I'd rather miss a month's rent than losing my tenants.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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So, if a landlord defaults on the mortgage and the bank repossesses the house or building, will the bank forgive unpaid rents?
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No the bank won't.
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