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Keep Your Rent

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  1. #51

    Join Date
    Jun 2016
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    Quote Originally Posted by shri:
    Landlord may have a mortgage to pay. Is it fair that the burden be shited to the landlord? Perhaps they can find a win win situation but the renter "Black Widow" has an entitlement problem. I would proceed with legal action if I were the landlord. Shes got to pay or go IMO.
    traineeinvestor likes this.

  2. #52

    Join Date
    Mar 2020
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    497

    There's a tried and true rule that I live by. Don't get mad, get even. This being a difficult time, I feel the pain should be shared. If a landlord wanted to play hardball, I would probably disappear, trash the place or make life as difficult as I can for him/her. If a tenant wasn't able to pay, I would give him a break in the rent for a short time or allow to break lease but I would keep the deposit assuming that he/she was a good tenant of course, if not all bets are off and go back to rule #1. I do believe that in most cases you get back what you put into the world.


  3. #53

    Join Date
    Jan 2018
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    2,581
    Quote Originally Posted by RMDNC:
    Landlord may have a mortgage to pay. Is it fair that the burden be shited to the landlord? Perhaps they can find a win win situation but the renter "Black Widow" has an entitlement problem. I would proceed with legal action if I were the landlord. Shes got to pay or go IMO.
    Look, maybe the shop needs to close down if it's not likely to get back on its feet. But kind of crappy to pursue it personally as well, given the circumstances. Just let them leave and good luck to you if you can get prime rent with another tenant in these times...
    TaD_LaLa likes this.

  4. #54

    Join Date
    Dec 2018
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    1,248
    Quote Originally Posted by shri:
    Nobody forced them to sign the lease. The point of a legal contract is that it's a legally binding commitment – not something you can just shrug off as and when it suits. If people could just walk away from their obligations when it suits them, things will get a lot more expensive.

    That said, if I was the landlord in the current market I'd much rather do a deal that will keep some income coming in than risk a prolonged vacancy and complete loss of cash flow.
    shri and rkenia852 like this.

  5. #55

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    Dec 2002
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    Perhaps an exception to the rule?

    This Brooklyn Landlord Just Canceled Rent for Hundreds of Tenants

    https://nyti.ms/2ywSSWW


  6. #56

    Join Date
    Oct 2010
    Posts
    20,100
    Quote Originally Posted by shri:
    Perhaps an exception to the rule?

    This Brooklyn Landlord Just Canceled Rent for Hundreds of Tenants

    https://nyti.ms/2ywSSWW
    Nice to see there are good people in the world.
    TaD_LaLa likes this.

  7. #57

    Join Date
    Nov 2010
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    HK
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    1,098

    SCB is freezing principal payments for mortgages for 12 months as an example.

    Renters who have lost jobs or income will need to have reductions too otherwise the economic impact will be severe (think Japan and lost decades).

    These are unprecedented times and one group trying to keep enriching themselves over another simply wont work, the crisis is systemic.


  8. #58

    Join Date
    Jan 2006
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    Hong Kong
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    7,872
    Quote Originally Posted by civil_servant:
    From a Canadian perspective, perfectly acceptable. And this guy is a Conservative, our very own Trump.
    WTF, is he on drugs too? Landlord doesn't necessarily mean rich. I have a friends in BC who are also elderly and living on a small pension, their only real investment is a 2 bedroom apartment that they rent out. They were just informed that BC has decided that if a tenant decides he cannot pay rent the landlord cannot evict them and my friends can kiss half of their income goodbye. Yet they still have to pay mortgage, strata and property management fees and property taxes... is the government going to wave those expenses? Nice.

  9. #59

    Join Date
    May 2006
    Posts
    6,042
    Quote Originally Posted by TigerSun:
    WTF, is he on drugs too? Landlord doesn't necessarily mean rich. I have a friends in BC who are also elderly and living on a small pension, their only real investment is a 2 bedroom apartment that they rent out. They were just informed that BC has decided that if a tenant decides he cannot pay rent the landlord cannot evict them and my friends can kiss half of their income goodbye. Yet they still have to pay mortgage, strata and property management fees and property taxes... is the government going to wave those expenses? Nice.
    No they don't. If they can show they didn't have the money due to tenant defaulting on rent the government will give them slack. Same with mortgages, one can miss a payment or two.

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