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Do you think there should be a moratorium on landlords evicting tenants who can't pay their rent because they lost their job or a significant part of their income due to the coronavirus?

21 Comments

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21 Comments
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Of course

7 ( +10 / -3 )

Of course! The gov needs to step in and show some leadership. Oh wait. this is japan. never mind

10 ( +12 / -2 )

Of course. Surely the property owners, as business people, can claim support from the govt., so they won't suffer?

10 ( +12 / -2 )

Instead of always that fighting and promoting of differences, a more cooperative way with compromises should be installed. Of course a landlord wants to rent the property at highest possible prices and the tenants don’t want to leave or don’t want to pay anything. That’s quite natural. So what can be done for both sides? It’s very easy. Both have to actively search for a new accommodation for those people. Maybe the city has some empty ones or the landlord knows someone and can force it with connections, some little money or a guarantee. Also the tenant has to search , otherwise the property of the landlord bringing intentionally into financial danger. Well that’s it. If there’s a new fitting accommodation found, the now poorer tenant should leave and if both sides couldn’t find one, the landlord has to keep the tenants. In my opinion the interests of both sides can be kept and balanced with that procedure.

-8 ( +3 / -11 )

Yes.

3 ( +6 / -3 )

Yes and of course sum it up nicely

4 ( +6 / -2 )

Yes and Biden signed an EO to renew the American one.

0 ( +3 / -3 )

The timing is bad. April is coming up and many landlords are likely to kick out a non-paying tenant in the hopes of getting a new tenant to sign up for two years. Beyond April, they would be probably be more inclined to cut the tenant some slack, as it better to keep a non-paying tenant who will eventually start paying again than risk being tenantless indefinitely in the current climate.

0 ( +2 / -2 )

At this point in time, yes, absolutely. My aunt who leases her house, gave a three-month free payment for her tenants in 2020 since they were working in the hotel and tourism sector. If everybody gave a bit of kindness during this time, this pandemic would be easier to survive.

6 ( +6 / -0 )

I’ve heard of some housing companies considering this, but the condition is that any tenement applying for exemption must have had no late rent payments up to now. Even a day late.

3 ( +4 / -1 )

Only if there is a moratorium on the government collecting property tax.

If the tenant is allowed to stay, but is not paying the rent that the owner would need to pay property tax to the government each quarter, then the government would have a sneaky, roundabout way to confiscate property from innocent owners.

6 ( +6 / -0 )

Of course

Of course! The gov needs to step in and show some leadership.

Of course. Surely the property owners, as business people, can claim support from the govt., so they won't suffer?

Yes.

Yes and of course sum it up nicely

Yes and Biden signed an EO to renew the American one.

At this point in time, yes, absolutely

more proof that basic economic literacy, Critical thinking skills, and the phenomena of unintended consequences should be a mandatory course for every young adult.

-6 ( +3 / -9 )

What if the landlords still owes a mortgage to his bank for the loan. Do you think the banks will give them a break? If he can't pay his mortgage then he too will be forced to sell the property. Some people in the US I heard are taking advantage of not paying their rent to the landlords because they know they can't get kicked out of their apartments. They said they are saving the money to go buy themselves something nice and some said they will use the high rent they save to use as part of income they've been saving to buy their own homes. If the government wants to force the landlords to not collect rent then the government shouldn't collect taxes during this period!!! That will give everyone a break, but nOOOOO they need tax papers money to take care of their business. The government is a big business and their product is the people. Keep working and taxing you to death.

0 ( +2 / -2 )

@bob

"more proof that basic economic literacy, Critical thinking skills, and the phenomena of unintended consequences should be a mandatory course for every young adult."

Not too sure where you're trying to go with this, but throwing people out of their residences en masse over something they can't control doesn't sound like a good idea.

4 ( +5 / -1 )

If such a moratorium is enacted then a similar moratorium should be provided for the landlords who hold loans (primarily to banks). In the U.S. the bankers are always the first to be bailed out (over and over).

I believe Japan would be the same.

@Ma-hu

Surely the property owners, as business people, can claim support from the govt., 

Actually no; private individuals who have rental property receive no such support "as business people".

3 ( +3 / -0 )

Yes - With a reasonable limit in place.

0 ( +0 / -0 )

As other posters pointed out, it is not that simple. There are many landlords (including myself) who do it as a side job, investing in real estate is better than letting your savings sleep in the bank. But you have to work hard to convince a bank to give you a big loan to buy the land and build the property, and you need to pay back; if the cash flow is broken, the bank will come after you, so there is no much choice in dealing with non-paying tenants

2 ( +3 / -1 )

What country? NIgeria, Sudan, The Vatican, Japan? US?

Can this be compared to repo people for not paying car payments?

-1 ( +0 / -1 )

more proof that basic economic literacy, Critical thinking skills, and the phenomena of unintended consequences should be a mandatory course for every young adult.

I agree, @bob. People should be thrown onto the streets in the middle of winter as a result of losing their jobs during a global pandemic, and be justifiably sacrificed at the altar of an American college Economics 101 class.

After all - surely avoiding the "unintended consequences" of nebulous and debatable aspects of economic theory is far more important than a few people freezing to death on the streets.

-1 ( +0 / -1 )

As other posters pointed out, it is not that simple. There are many landlords (including myself) who do it as a side job, investing in real estate is better than letting your savings sleep in the bank. But you have to work hard to convince a bank to give you a big loan to buy the land and build the property, and you need to pay back; if the cash flow is broken, the bank will come after you, so there is no much choice in dealing with non-paying tenants

Well, kind of a business risk you take if you want to play at being "rich dad". As you mentioned, it is about getting a "big loan" from the bank rather than just using your savings. It's a leveraged bet in the hope that others will buy a property for you while doing no particular work, other than raising the initial deposit. Apparently low risk, free money.

Unfortunately, all bets are off during a global pandemic and you've got to take the rough with the smooth.

And this is not rent forgiveness, but giving people the chance to get back on their feet during a pandemic and avoid being made homeless through no fault of their own.

-1 ( +0 / -1 )

Renting out property is as much a business as banking, if banks are subsidised from the public purse why not landlords?

1 ( +1 / -0 )

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