Atlanta Buckhead Midtown - Landlord Disaster Relief - RE: Unpaid Rents

By
Real Estate Broker/Owner with Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside

Atlanta Buckhead Midtown
- Landlord Disaster Relief -
     RE: Unpaid Rents

 

               

IMAGINE YOURSELF IN THE SEATS ABOVE...

THAT'S WHERE LANDLORDS WERE LEFT SUSPENDED

 

Atlanta Buckhead Midtown Westside are all neighborhoods seriously affected by the Covid 19 rental concessions to Tenants.

While there is no question that a nationwide crisis exists, solutions were offered to Tenants and not to Landlords. That is, Landlords face Foreclosure if not paying 100% of their Mortgage debt monthly. Landlords encounter penalties for not paying taxes. Landlords face risk if Hazard Insurance is not maintained. EXPENSES WITHOUT RENTAL INCOME!

On Quora, Steve Shapiro asked a very pertinent question to an international audience: What steps are being taken to help landlords who have lost rent due to the Covid-19 no eviction rule for tenants who can't or won't pay?   The answers he received dealt with the major areas of concern regarding Tenants not paying anything at all even when not affected by Covid 19.

Major areas of concern include non-payment, the inability to evict, damages, and possibly losing one's property.

According to both Devin Bewley and Liz Mann, the State of California, in January 2021, passed SB 91, a state program that will pay landlords 80% of back rent due if they agree to forgo the other 20% owed by the Tenants. 

Linda Crose-Andersen updated that information on January 31, 2021 and supplied the link to the announcement by Governor Newsom. The bill offers $2.6 Billion in Federal Funds for unpaid rent. She said, "Here is the information on SB 91 for those who are interested." 

Randy  Kevan, who works in Property Management in California, shared that 43 of his 44 Tenants in his units could pay. That one Tenant who could not pay had the courtefcame and discussed the situation with Randy is any REALTOR's dream. Came by to discuss possible payment options

Other states, however, have increased the consideration of Tenants while still continuing to ignore Landlords.

Ray Mahlburg's anecdote illustrates the big issue unresolved for all Landlords: People who can pay and don't as if they were in some type of video game.

In the end, everything boils down to respect and communication. If things are going wrong, deal with it now! 

 

Comments (4)

James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Lynn.

I have a former client that wants to sell her duplex in an adjoining town.  Due to the current rules, she can't.  Hopefully, this will change soon

Jan 31, 2021 02:59 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It is good that landlords are receiving relief too since not all landlords are rich.

Jan 31, 2021 04:46 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lynn. There is no easy solution to the problem. Those taking advantage of the rules should be prosecuted to the fullest extent of the law. Enjoy your day.

Jan 31, 2021 05:47 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lynn it is amazing how people feel they have the right to live in a property without paying anything.  I wonder if those same people would feel the same way if the shoe was on the other foot.

Jan 31, 2021 12:55 PM