Landlords alarmed over
rent forgiveness proposal
KATU-TV {Portland OR],
by
Staff
Original Article
Posted By: NorthernDog,
4/3/2020 1:40:41 PM
PORTLAND, Ore. — On Wednesday, Portland city leaders sent a letter to the governor asking for statewide rent forgiveness for people who lost incomes because of the pandemic. “We’ve never talked about a rent moratorium before or forgiving mortgages. I know it might sound outlandish to some, but I just ask them to consider the alternatives or offer alternatives. You can’t squeeze blood from a stone,” Portland City Commissioner Chloe Eudaly told KATU. Since then, reaction has been swift, claiming if put in place, it would cause long-term damage to basic economic structures. One of the biggest opponents is an
Reply 1 - Posted by:
curious1 4/3/2020 1:44:32 PM (No. 367312)
They better be asking exactly when and how the local/state government was ceded the authority to do so by the local citizens.
17 people like this.
Reply 2 - Posted by:
Northcross 4/3/2020 1:45:07 PM (No. 367313)
Poor helpless tenants 1 Evil landlords 0. An easy call for progressive politicians, as there are more tenants than landlords. Never mind the legality or the fairness.
13 people like this.
Reply 3 - Posted by:
Avanti1 4/3/2020 1:51:23 PM (No. 367323)
Time for everyone in financial trouble to assess their priorities.
Is having shelter by paying the rent a higher priority than internet connectivity? Higher than unlimited mobile phone data and voice? Higher than subscription TV connections and paid programming? You need to decide.
Will state governments forgive all taxes: income, property, sales?
Perhaps renters should apply for a personal loan to be repaid, with interest, once the health crisis abates.
16 people like this.
Reply 4 - Posted by:
Penney 4/3/2020 2:01:06 PM (No. 367332)
The socialists should try to think this through. They seem to imagine their every demand can be satisfied, but what will they do when the well runs dry?
7 people like this.
Reply 5 - Posted by:
bad-hair 4/3/2020 2:07:20 PM (No. 367348)
Demand for rental property SKYROCKETS among the homeless.
2 people like this.
Reply 6 - Posted by:
LadyHen 4/3/2020 2:36:19 PM (No. 367375)
I personally think landlords and tenants should work this out amongst themsleves, no need for government intervention. Only a stupid landlord would punish what had up to this time been good tenants by hurting them finacially. And tenants would be fools to try to hurt a compassionate landlord who may simply be trying to cover things like taxes and utilities but otherwise trying to work with financially strapped tenants. We tye people need to all stick together and treat each other with kindness and understanding.
19 people like this.
Reply 7 - Posted by:
GoodDeal 4/3/2020 2:36:32 PM (No. 367376)
The out of control unconstitutional acts of imperial declaration by socialistic politicians that are taking away private property rights and contractual legal obligations are nullified by the speaking of the words and a wave of the hand.
12 people like this.
Reply 8 - Posted by:
gramma b 4/3/2020 2:37:27 PM (No. 367378)
There's this little thing in the Constitution called the Contracts Clause, which should prevent any such nonsense.
10 people like this.
Governments at all levels have overstepped their bounds. Would this "forgiven" rent at the order of the state be considered a tax? It is de facto property seizure.
7 people like this.
Reply 10 - Posted by:
or gate 4/3/2020 2:42:01 PM (No. 367385)
Maybe the landlord has a house payment that is due too...
Commie Oregun
13 people like this.
Reply 11 - Posted by:
StormCnter 4/3/2020 2:46:38 PM (No. 367391)
Our worst financial investment was in a group of small rental houses. At the time, there were good tax deductions on rental property and income. But, I am a softie. The sad stories got me every time and the word got around among our renters. One older couple ended up owing two years of back rent (bad health), but paid it all back with an insurance settlement. The state governments shouldn't assume landlords are ok with forgiven rent. Even us softies.
9 people like this.
Reply 12 - Posted by:
poliposter 4/3/2020 2:56:04 PM (No. 367397)
It's one thing to allow a bank to postpone mortgage payments because they just add the payments to the back end of the loan. But what is a landlord supposed to do?
7 people like this.
Reply 13 - Posted by:
hershey 4/3/2020 2:59:09 PM (No. 367401)
Ah Portland, run by idiots, like a lot of other places....on both coasts....seems like only Middle America is sane anymore...mostly...
8 people like this.
Reply 14 - Posted by:
edgar 4/3/2020 3:13:13 PM (No. 367411)
By what authority does the governor have the power to issue such an order? I cannot imagine that one exists.
9 people like this.
Reply 15 - Posted by:
Historybuff 4/3/2020 3:43:22 PM (No. 367436)
The biggest expense most landlords have is real estate tax. Are we going to give them a break?
The politicians jabber on about "affordable housing" but never talk about affordable taxes.
10 people like this.
Reply 16 - Posted by:
Griller1 4/3/2020 4:28:29 PM (No. 367478)
1) Absent a "Force Majeure" clause in the rental contracts, there is nothing that can be done. 2) If the state legislature decides that this is allowable and waives the rents, then the landlords should file a class action suit against the legislature and sue for a taking under the fifth and fourteenth amendments, as the landlords will have been deprived of property without just compensation. At least that's what I'd argue.
7 people like this.
actually, the biggest payment landlords make is to the mortgage holder on their rentals, either single family dwellings or apartment buildings. I know this firsthand - mortgage payments get deducted from the landlord's account automatically, whether or not the rents have been paid.
The landlord can (and intends to) make some kind of arrangement with the lender. But that's a couple of months down the road and will not cover April or maybe even May. You think it's easy? It's not easy...
5 people like this.
Reply 18 - Posted by:
DVC 4/3/2020 4:36:24 PM (No. 367494)
Landlords have mortgages, power and water bills to pay, and they need to eat, too. They deserve to be paid.
8 people like this.
Reply 19 - Posted by:
RuckusTom 4/3/2020 5:20:10 PM (No. 367526)
Heck, just allow people to stop paying for their electricity, or their car mechanic, or their food, or their internet service, or their water or ...
We're in hard times. Just click your fingers and make it all free. Free! Free!
7 people like this.
Reply 20 - Posted by:
Justcurious 4/3/2020 5:22:07 PM (No. 367529)
Governments forgive taxes? Surely you jest!
A local financial advisor has advocated selling rental properties in Washington State and Oregon.
5 people like this.
Reply 21 - Posted by:
couchguy 4/3/2020 5:27:18 PM (No. 367533)
I already told my tenant who works for a ski resort that if he can't come up with the rent not to get all worried. But I only have a grandma apt and only rent it to friends. Way things are with renting places out, it's friends or vacancy for me.
4 people like this.
Reply 22 - Posted by:
learner 4/3/2020 6:57:45 PM (No. 367618)
Kind of makes you question all those commercials stating' it does not matter what the market is like, the landlord always gets paid!'
1 person likes this.
Reply 23 - Posted by:
lazlototh 4/3/2020 7:38:18 PM (No. 367647)
The Fifth Amendment requires adequate compensation when the government takes property for a public purpose, which it surely would be doing here - in other words, the state will be liable to the landlords.
I wonder how many legislators realize that one person's rent is another person's income and lots of elderly people rely on rents to pay their OWN expenses. I don't really wonder. The legislators are idiots.
3 people like this.
Reply 24 - Posted by:
PageTurner 4/3/2020 7:40:57 PM (No. 367649)
Quite an incentive to skip the rent even if you have the rent.
1 person likes this.
Reply 25 - Posted by:
watashiyo 4/3/2020 8:58:04 PM (No. 367690)
My children had a place to sleep and food on their table even after I lost my job. Regular savings for emergencies was a blessing through the hard times. Be prudent and plan ahead. Yours and the children's future may depend on it.
3 people like this.
Reply 26 - Posted by:
doctorfixit 4/4/2020 12:51:43 PM (No. 368391)
Never let a good crisis get in the way of seizing private property.
2 people like this.
Below, you will find ...
Most Recent Articles posted by "NorthernDog"
and
Most Active Articles (last 48 hours)
Comments:
Another state flirting with rent 'forgiveness'. In many cases building owners are individuals who derive their only incomes from rental properties.