(August 27, 2020 at 6:54 pm)BrianSoddingBoru4 Wrote:(August 27, 2020 at 6:45 pm)arewethereyet Wrote: For rent to be cancelled there has to be a way to make the landlord whole. Basically the choice is the tenant or the owner. Either way someone loses.
It would make more sense to set up a program whereby landlords don't lose what could be their only source of income. Not all landlords own multiple properties. If rent isn't paid the landlord still has property taxes and other expenses to tend to. If a repair is needed at a rental property is the landlord still supposed to fix the problem when they aren't collecting rent?
If we cancel rent how long do we do it while still expecting the owner to pay the property taxes and keep up with necessary repairs?
A program to help landlords who agree to reduce rent for a time makes more sense than saying hey - one of you gets screwed...we've decided it's the owner of the property.
And a landlord hardship fund is exactly what some lawmakers are proposing, to go hand in hand with rent cancelling.
https://en.wikipedia.org/wiki/Cancel_rent
Quote:In April 2020, Minnesota Congresswoman Ilhan Omar introduced Rent and Mortgage Cancellation Act. This act called for a cancellation of all rental and mortgage payments in the United States for the duration of the coronavirus crisis. A relief fund would be established for landlords and mortgage holders, which would help them recover financial losses.[13] The bill was co-sponsored by Alexandria Ocasio-Cortez, Ayanna Pressley, Rashida Tlaib, Pramila Jayapal, Mark Pocan, Veronica Escobar , Jesús “Chuy” García, and Grace Meng.[13]
So, it doesn't need to be an 'either/or' situation. It's perfectly possible to help tenants while making sure landlords don't go under.
Boru
So far our government can't decide on anything for relief. The list of names above almost ensures that nothing will get done. The old guard won't listen to their suggestions.