There is a nationwide eviction moratorium. There is a push to eliminate security deposits. It sounds great, but now the landlord has to file a claim for any damages done to the property by the tenant. This increases costs and risk to the landlord.
Now the newest thing is laws that prohibit credit checks, using a prospective tenant’s rental and credit history in making application decisions, and makes the risks of being a landlord too great for most small businesses.
I know that my wife and I have decided that if this sort of thing comes to pass, the amount that we would have to increase rent to compensate for the added risk would price our rental out of the market. This means that we would no longer be making enough money to make up for the higher risk that this would entail. For that reason, we would likely not renew tenants’ leases, clean the properties up, and then sell them. I don’t think that we would be alone in that.
It’s like the left is deliberately destroying the country.
5 Comments
Brian_E · April 19, 2021 at 6:08 am
“The left is deliberately destroying the country.”
There. FIFY.
joe · April 19, 2021 at 7:16 pm
they have to get their licks in now because the next gop president might buy more votes from dominion than they do…they are going for broke while they have us down with their covid lie…
Divemedic · April 19, 2021 at 8:39 pm
I don’t see another GOP president, unless they are a RINO.
Karl Ushanka · April 19, 2021 at 8:08 am
Rental housing used to be such a great business model for a middle-class couple that wanted to invest for the future. I toyed with the idea when I bought a foreclosure, but flipped it instead.
I think the damage these eviction bans have done is far larger than what we hear. I think one reason they extend the bans is to put off the subsequent collapse.
Personally, I’m renting until about 6 months after the bans lift. Between the mass of foreclosures, and landlords dumping their properties, I’m sure to get a good deal. The other option I’m toying with: leaving the country.
TCK · April 20, 2021 at 11:50 pm
“It’s like the left is deliberately destroying the country. ”
Hasn’t that been obvious for decades?
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