Impending tsunami of evictions

[look 171]

Originally Posted by Skillet83

I cannot believe what I just read. Dude, I sincerely feel for you, just unbelievable. Coming from a guy that owns a bunch of rentals in fly over country. I have not had one renter problem through this whole chit show. I did have one gal come in from Washing State mentioning the moratorium. I had a brief conversation with her, never heard from her again.

Well, that's rent control for ya. Slowly, it had gotten tighter and tighter over the past 5-8 years. We voted it down but our governor decided overturn it and made the whole state rent control. That's anything with 2 units or more. this includes a back house, or if you rent your garage illegally, that's subjected to rent control. Relocation fee is up to about 15,000 per person. If there's a senior or special needs kids on the house, we are in a world of hurt. I think its something like 25k per special needs person.

I am thinking of selling them and go somewhere else but where? Management is the problem. People pay well here, if the rental is in the right place. Its our retirement and kid's college education.

[McLovin]

Current state of property rights in California.
14 months. Amazing.

https://youtu.be/D_gJaz_F6pY

[fastfredracing]

I am just shocked that more people are not starting to take things in their own hands . I am right about on the edge of how much more I can handle .
I have been abiding by all the laws for all these years, and even trying to be a decent human through this mess . I have forgiven rents on 3 properties, and took a 6 month bath on the one we just sold , gut burnt on the water bills etc. This has cost us in the thousands, in wasted time, and if we miss this real estate bubble and cannot sell our houses at the peak, it will be a huge loss to us .

I don't think they will ever stop till the people stand up and take their **** back .
I bought it , paid for it, maintain it, and pay the taxes on it . It is either mine, or it is not . Next , it will be your personal home .
I am all for sensible tenant protection laws too . This is just not sensible .

[Skillet83]

Originally Posted by look 171

Well, that's rent control for ya. Slowly, it had gotten tighter and tighter over the past 5-8 years. We voted it down but our governor decided overturn it and made the whole state rent control. That's anything with 2 units or more. this includes a back house, or if you rent your garage illegally, that's subjected to rent control. Relocation fee is up to about 15,000 per person. If there's a senior or special needs kids on the house, we are in a world of hurt. I think its something like 25k per special needs person.

I am thinking of selling them and go somewhere else but where? Management is the problem. People pay well here, if the rental is in the right place. Its our retirement and kid's college education.

I have 10 rentals homes, 3 bed, 2 bath, 1500 sf in great communities. Community pool, walking trails, large fishing ponds, great school district. Homes are getting $1700.00-$1800 per month. Homes are going for $200-$215k now. They were in the 180's a few years back. Property tax is about $2200.00 per home, HOA is $450.00 annually. They rent same day, can be choosey. No politics here. Property owners still have rights here.

[GH85Carrera]

Fred, your mess just makes me so happy I sold my rental long ago and that few years of playing landlord was enough to make me say never again. She never missed rent payments, and I thought she was a great tenant. I told her the place was going up for sale as soon as her lease was up. She was out on time, then I learned her male dog had peed on everything in the house. It was obvious where the furniture was and the outline of urine on my fist inspection. Then I noticed something on my legs. Fleas. Tons of fleas. I spray bombed the hell out of the place, ripped up all the carpet just so I did not gag at the stench. Repainted every interior wall, and got a quote for new carpet. At closing I told the purchasers to go to that carpet store, and they can pick out the color of carpet they want. It was installed in no time since the place was empty, and I was done.

Never again. There are better ways to make money.

[look 171]

Originally Posted by McLovin

Current state of property rights in California.
14 months. Amazing.

https://youtu.be/D_gJaz_F6pY

This siht is not uncommon but they are all too rare so don't think like most, its happenning to every third person in CA or LA. I know of an apt where homeless squatters have taken over one unit. They broke into it during a renovation, claim it theirs and the owner now have to evict them, but no eviction allowed so a big shout out and thank you very much to the our politicians and their screwed up one sided laws.

[look 171]

Originally Posted by fastfredracing

I am just shocked that more people are not starting to take things in their own hands . I am right about on the edge of how much more I can handle .
I have been abiding by all the laws for all these years, and even trying to be a decent human through this mess . I have forgiven rents on 3 properties, and took a 6 month bath on the one we just sold , gut burnt on the water bills etc. This has cost us in the thousands, in wasted time, and if we miss this real estate bubble and cannot sell our houses at the peak, it will be a huge loss to us .

I don't think they will ever stop till the people stand up and take their **** back .
I bought it , paid for it, maintain it, and pay the taxes on it . It is either mine, or it is not . Next , it will be your personal home .
I am all for sensible tenant protection laws too . This is just not sensible .

Freddy, calm down. I know its easier said then done, but it can hurt you in badly on the long run. I understand how you feel, believe me. I am knee deep in this siht too and are feeling the pinch. Don't do anything stupid, that will land you in jail. Out here, owners ALWAYS lose.

[GH85Carrera]

The house next door to my dad's house turned into a rental after the long term owners died. After a few months they had not paid their electric bill, so of course the power company cut them off. They wired around the meter and them the power company cut the line at the pole. That stopped them. So they came whining to dad asking if they could plug in an extension cord for just the refrigerator and a couple of essential lights just just a "few days" until they could pay the power company. So dad said OK. He got up in the middle of the night to pee, and saw them running an air conditioner, and the extension cord was hot. He unplugged it, and told them no more.

Instead of paying the power company for the overdue bill, and the cost of hooking up the wires at the pole, and the meter they went and bought a Honda generator, and several 5 gallon containers for gas. That Honda generator ran non stop for two months before the landlord evicted them after he saw they were raising ducks in the back yard and the city came and removed the ducks and sent the landlord a bill. The generator and all the gas had to cost many times the cost of the electric bill. Just complete morons and dad was very happy to see them leave.

[look 171]

Originally Posted by GH85Carrera

The house next door to my dad's house turned into a rental after the long term owners died. After a few months they had not paid their electric bill, so of course the power company cut them off. They wired around the meter and them the power company cut the line at the pole. That stopped them. So they came whining to dad asking if they could plug in an extension cord for just the refrigerator and a couple of essential lights just just a "few days" until they could pay the power company. So dad said OK. He got up in the middle of the night to pee, and saw them running an air conditioner, and the extension cord was hot. He unplugged it, and told them no more.

Instead of paying the power company for the overdue bill, and the cost of hooking up the wires at the pole, and the meter they went and bought a Honda generator, and several 5 gallon containers for gas. That Honda generator ran non stop for two months before the landlord evicted them after he saw they were raising ducks in the back yard and the city came and removed the ducks and sent the landlord a bill. The generator and all the gas had to cost many times the cost of the electric bill. Just complete morons and dad was very happy to see them leave.

Really, you have THOSE PEOPLE outside of CA too? (OK, in green)

[Tobra]

Originally Posted by wdfifteen

But that's capitalism for you.

I guess you failed Econ 101

[look 171]

Originally Posted by Tobra

I guess you failed Econ 101

This is coming from someone who's also a landlord.

[Por_sha911]

Here's the reason that liberal socialism sucks:
https://www.foxnews.com/media/biden-eviction-ban-leaves-landlords-underwater-theres-no-answers-for-us

A New York landlord said Wednesday the Biden administration's eviction moratorium has left her $50,000 in the hole as her tenant, who has been employed throughout the COVID-19 pandemic, refuses to make rent payments.

Long Island homeowner Suzanne Antolini told "America's Newsroom" she's "exhausted all avenues" trying to get help since her tenant stopped paying rent in March of 2020.

"He continues to stay in our home not paying rent and doesn't seem to have any plans to leave due to the moratorium that is currently in place," Antolini told Dana Perino. "He has been gainfully employed this entire time and is just choosing not to make his payments."

[thor66]

Originally Posted by red-beard

When will it end? This is a "taking" as defined by the constitution

who told you that?

[thor66]

Originally Posted by Tobra

I guess you failed Econ 101

are you an economist tobsey?

[A930Rocket]

Originally Posted by Por_sha911

Here's the reason that liberal socialism sucks:
https://www.foxnews.com/media/biden-eviction-ban-leaves-landlords-underwater-theres-no-answers-for-us

I’d like to beat the snot out of someone like that, but we all know that would come back to haunt us.

Would it be possible to park a car in front with a billboard on top, saying a deadbeat lives here?

[daepp]

Originally Posted by Por_sha911

Many of my generation learned the problem with lazy worthless leeches during the hippy movement. We thought communal living meant everyone put in their fair share of the work but there was always one bum that just wanted to smoke dope and play guitar all day yet he thought he deserved his share of the food. Socialism is a grand concept that doesn't work.

Hahaha - same thing the Pilgrims who signed the Mayflower Contract figured out after the first year. Some got something for little to no effort, and the Compact fell apart directly!

[daepp]

Originally Posted by look 171

In the mean time, I have housing inspection. City of LA or rent controlled areas make us pay for this inspection. We pay them to tell us how bad our places are so we fix them or get fine. If we fail inspection they collect from the renter until its gets fixed after fines and of course, fee, more fawking fees. This little butt head needs to find something. He dinged me for lack of permit on our water heaters. Two permit for heaters that was put in 5 years ago. I put them in after I bought the building but it is in its original place. So, to down town I go and pay. Just parking alone is 30 bucks. I can't get a permit as a home owner, so I have to get a plumber to do this for me. Instead, I apply for the permit as a contractor but I have to get it with three other trades. Its now, one permit for heater, one electrical outlet, and window replacement. That was 550 bucks per each unit. Thank you very much. He wanted the exterior painted due to a couple of spots of peeling paint (about the size of a quarter) about 15' up in the air. Repair small holes in window screens that were about 1/2' long. Its for the tenant's safety according to him. Its all a bunch of BS and I haven't gotten one fooking dime from tenant or the state's relief. Yet, I am paying to fix things for THEM. Yes, this man has a job, full time working for my friend. I mentioned that already, but let me get it off my chest again will ya. Damn, I feel a little better.

Jeff - that is freaking insane. Is that every rental in LA? Just apartments? SFR’s?
(I don’t think I’ve even ever pulled a permit once for a water heater, much less…)

[Skillet83]

Originally Posted by GH85Carrera

Fred, your mess just makes me so happy I sold my rental long ago and that few years of playing landlord was enough to make me say never again. She never missed rent payments, and I thought she was a great tenant. I told her the place was going up for sale as soon as her lease was up. She was out on time, then I learned her male dog had peed on everything in the house. It was obvious where the furniture was and the outline of urine on my fist inspection. Then I noticed something on my legs. Fleas. Tons of fleas. I spray bombed the hell out of the place, ripped up all the carpet just so I did not gag at the stench. Repainted every interior wall, and got a quote for new carpet. At closing I told the purchasers to go to that carpet store, and they can pick out the color of carpet they want. It was installed in no time since the place was empty, and I was done.

Never again. There are better ways to make money.

I am in Oklahoma, have quiet a bit of experience in rentals. You did something wrong here.

[look 171]

Originally Posted by daepp

Jeff - that is freaking insane. Is that every rental in LA? Just apartments? SFR’s?
(I don’t think I’ve even ever pulled a permit once for a water heater, much less…)

Dave, the whole damn state falls under rent control now thanks for Gov. Nonsense. Here's the list for ya:

Under rent control:

Duplex - does not matter if one unit is owner occupied

If you rent out a garage, legally or not, you are subjected to rent control even if the main house if owner occupied

SFR- only if its under an entity
If SFR is under the owner's name, I think if you own and rent out more then 6 (or was it 7?) homes then you are subjected to rent control. Most renters wouldn't know that but if they get a lawyer, they will try and tear you a new one. In LA, that fooking service is free and those lawyers hate home owners, yet they are owners themselves.

In terms of the paying for housing inspection harassment, that's only in the City of LA, and I believe Santa Monica and West Hollywood where they have nightmare rent control regulations. Before the close of escrow on a duplex or apt, there a form from Housing Dept through the city of LA that the new owner must pay for. You don't sign that, you don't get to close escrow. You pay to screw yourself. All apt or more then one unit all have to bend over and sign this damn thing.

They want all of us to disclose the rent amount for every unit. This way, they can regulate that when the new tenant moves in. In some rent control areas, I hear that the owner must rent to the new renter the exact amount as the out going tenant plus 3 or 4% inflation or rent increase. After talking with a couple of friends that own large apt units, I pitch that goddamn form in the trash also. It cheaper to pay the fine, late fees and what not then have them put that Vicegrip on my balls.

[Purrybonker]

Seems like much hubris on display here.

Rent seekers are possibly amongst the least contributing form (I too confess to being a landlord) of capitalists amongst the capital obsessed world we live in and seem to adore.

They contribute nothing, zero, zip, ziltch to the general advancement and well being of society.

In fact, as we have seen recently as housing has become an extremely inflationary force in recent times (perhaps largely because of Covid), we see huge corporations investing billions buying up housing as rental properties to take advantage of increased demand in the face of housing shortages.

It is obvious that home occupancy costs can only see upward pressure in such an environment.

This can only be deleterious for all of our general well being. More homeless? More people unable to afford the simple basics of life?

Who wants to live in such a world, or sees such pressures as a positive force?

I guess I'm suggesting that this, in particular, is an environment where we probably would benefit as a society from government involvement and control.

Business people, people who develop new concepts, industries and inventions, these are the capitalists that advance our world.

People and corporations with simple wealth, owning housing, particularly as a predatory profit motive contribute nothing and are, in fact a net negative to the advancement of our world.

Just my HO.