Landlord did WHAT?.....I don't believe it! ....Ep.  55

Landlord did WHAT?.....I don't believe it! ....Ep. 55

so you want to be a landlord   good afternoon everybody i'm John welcome to the 
channel uh for those of you don't know me my name   is John Schink i'm the founder and managing broker 
of deod realty in st louis missouri uh we do   residential buying and selling we basically help 
buyers and sellers we do some light commercial   a little bit of leasing commercial but we don't 
we don't deal with property management and   if you like learning about real estate if you 
like talking about your neighbors if you like   landlord tenant disputes like we're going to 
go over today you should definitely subscribe   to the channel just hit the subscribe button 
if you like something i said maybe maybe post   a comment below if you don't like something i 
said maybe post a comment below anything you do   will help the channel and i appreciate it and 
so today we're going to go over three stories   landlord tenant disputes i believe with no data 
that the situation that the cdc moratorium has   is just crippling people i mean just crushing and 
uh in an attempt to save tenants you've crushed   the the availability of housing for 
for those tenants in the future so   that's my belief you're not going to get me to 
change no matter what stats you throw at me so   anyway i did want to go over the stories i am 
sympathetic to tenants and one of the stories   is definitely sympathetic to the tenants so 
let's let's you know i don't want you to say   i'm pro landlord or pro tenant and i i can see 
it from both ways and my experience is has been   gleaned from a number of years where i worked 
in the back office of a property management of   a couple property management companies for 
the the residential side the smaller ones   we did single family homes you know 100 here 
100 there so i feel like i have some sort of   knowledge about this situation but 
let's go to the browser and start   the first one fascinating story out of 
uh oh shoot i hit the wrong button again   fascinating story uh you can read it there 
i'm going to switch over to mine it says   hampton squatter won't vacate rental for holocaust 
holocaust surviving owner now to me i don't care   if it's a holocaust survivor or anything else 
i i just i don't i don't like those particular   headlines uh where we're going to divide people 
i'd i'd like to keep people uh together so the descriptors are bothering me so anyway uh 
this one here this woman owns a hampton bays home   she flew in from israel last month to 
spend the summer at her uh home and   she wasn't able to do that because a tenant has 
refused to clear out of the uh the house even   though the right the the lease ended june 18th 
so this woman has a home in new york and she's   renting it out and she comes back i guess once 
a year around july to stay over the summer in   this beautiful location and now after she's uh she 
leased it to someone they've just decided they're   not going to leave and so the the funny thing here 
is it's a real estate agent i say funny because   uh why do i say that because they if 
anybody knew the laws that would be it so um   in the article it says that she works for a broker 
and then the company says she doesn't work for her   but she did claim financial hardship 
due to the coronavirus crisis which   if you're if you're a real estate agent during 
the crisis it's been kind of fascinating some   are very very busy and some people aren't so uh 
then apparently she's left the house in terrible   condition and there's no way to evict her because 
of the moratorium and uh you know one of the   things that says that uh she's the the tenant is 
accused of of leaving the house in disrepair but   uh as a i mean if you're an owner of a property 
uh i feel like you should kind of not have your   personal things that are worth a bunch of money 
still in renting uh it doesn't make any sense like   one one of the things they're complaining about 
there's a beautiful painting that's been removed   and it's like why did you leave a nice painting 
up if you didn't i mean it's because people don't   expect it so that's that story and i had i had 
some thoughts on it uh you know what what do you   do with the uh eviction moratorium i mean you 
you can't they're not gonna evict anybody so uh who is gonna look out for the small   landlords that's my thing i mean people that own 
one property or two properties and they're just   they're just trying to make a little bit of money 
on the side who's going to protect those people?   that's been my question the whole amount of 
time that you decided to ban evictions and then   somebody may come back and say well the tenants 
what if they lose their job and couldn't afford to   to live there it's like i see that i see that but 
you're the the landlords own the supply of homes   so if you get less you know if you get less 
landlords they're going to be less homes   available for rent for these people that are uh 
not choosing to buy a home for whatever reason   so second article is a New York Times 
article so let's go to that here it says   i mean it's a terrible headline a landlord 
said her tenants are are terrorizing her she   can't evict him and it goes through there's a nice 
picture of the the owner and it goes through and   she uh lady you know owns a couple owns a property 
and um it's just it it's going bad for her   she had a tenant in the basement that 
didn't pay the rent she had a tenant in the   first floor that didn't pay the rent and 
she lives in the top floor and the uh   the tenants were uh just not very nice to her 
so that's it and with the uh with the uh uh   you know more the eviction moratorium you know 
it's just it's a disaster so my thoughts on that uh for the joys of being a landlord 
she's been spat on she's had her   car keyed she's been mooned and she's had 
packages left for her thrown in the trash   and she's at about thirty 
six thousand dollars in rent   in this case the landlord used the rent money to 
clear the mortgage payment of 2400 bucks a month   and then i think the New York Times does 
a very good job of explaining some of the   numbers behind this so an estimated 28 percent 
of the 2.3 million rentals in New York City   are owned by somebody who owns less than five 
properties 140,000 to 200,000 eviction cases   a year in New York city during normal times 
and nine percent of those are actual evictions   so around twelve thousand five hundred people are 
actually evicted each year uh in a normal time uh   and then currently during this pandemic an 
average rent is owed of $5,600 that's the   average amount of rent owed by tenants during 
the lock you know the lock uh the mor moratorium   and so my thing is just simply like just 
understand that all these landlords like people   think these these people are just millionaires 
and there are there are many millionaire landlords   but they own many many units and and i found 
during the time that i was a property manager that   you know if you owned one unit it was it was 
tight even then i mean after you paid the   mortgage you would just pray that there weren't 
any repairs needed now i mean i can't imagine   what those people are going through and then you 
know it's just a bad situation so then finally   i think you might enjoy this one well   landlord fired shots in the bedroom of tenant over 
rent dispute well what happens when you don't pay   rent this landlord took it too far and he decided 
to fire three shots into the basement of his home   and so that was in i believe Utah i could be 
wrong don't quote me on that but here's the   here's the article here and and what i wanted 
to go over that one is there were some quotes   it says quote the victim said he felt like 
hollering and pounding was directed towards   him because there had been disputes between 
him and landlord about rent money that was owed and the landlord is upset with the victim because 
the victim was trying to take away his home and   his money and that's what people think i mean 
they it's it's a it's a bad deal so i had some   thoughts and takeaways over the whole thing one 
all moratoriums fail a basic test of consequences   for action so if you don't have any fear of 
being evicted you don't also don't have any   desire or reason to pay the rent the 
only thing that keeps you in that home   is the fact that you're paying the rent so 
that's me i mean you may think differently   but when you did you know how could lawmakers 
not realize that so many landlords are borrowing   money to pay for mortgages in the hopes 
that tenant makes up their differences   and that's what i've said to some of my friends 
so what what sense does it make and i'm in real   estate and i've done investment properties and 
and what sense does it make let's say you're   you're you don't owe any money on your house and 
so now you go buy another house and you put a loan   on it okay and now you're going to put a tenant 
in there that is not necessarily credit worthy   why are you using your good credit on the hopes 
that some other tenants going to pay your your you   know is going to pay off for you it's just it's 
just too dicey for me um and so you know i there's   the government immediately came out with 
tenant and landlord assistance but the landlord   assistance goes to those who own you know millions 
of dollars worth of property not these small   landlords and i guess the argument there would 
be okay we'll just get rid of the small landlords   but i don't think that's a good idea i 
don't think that's what you really want   unless you want everything to be owned by a 
corporation you know a big soulless corporation   that that may be what you're looking for so 
anyway the vast majority of tenants are good   people i believe that and the vast majority of 
landlords are good people however there's a solid   20 percent in each that are terrible people and 
that's why you need to have tenant landlord laws   that are enforced it's always laws are always 
for the outliers in my opinion it's not for the   people that follow the rules i mean for instance i 
won't even do that one let's just say that that's   it's always about the outliers and that's why 
we should have strong laws uh that protect   tenants and landlords i'm totally good with that 
i mean you shouldn't you shouldn't live in your   apartment and expect to be shot at by your by your 
landlord that's that's out outside the bounds so   finally i just said some people shouldn't be 
landlords there's something in their person that   just makes it impossible for them to do so and 
it manifests itself in in different ways and so   well one of the ways it manifests itself is is 
they keep substandard housing they're a slum lord   they attack tenants due to perceived or real 
slight so you have these you have these landowners   that that are like what's my tenant the reason 
why the house stinks is because of my tenant   the reason why my life is going bad is because of 
my tenant and it's always about it's it's always   about attacking the tenant due to their own issues 
and then another one is there's a naivety there's   some sort of belief that a municipal authority 
will support them should a tenant not pay rent and   i'll just say this it's been my example that 
you have to have strong tenant screening   and if you don't have strong tenant screening 
you're going to be in problem in in a problem and   and i say that one i really don't believe that 
people i really don't believe that tenants   knowingly rent homes that they can't afford or 
they knowingly rent places that they can't afford   or that they don't have the cash for nine times 
out of ten if the tenant's not paying rent because   they don't have the money to pay the rent it's not 
because they don't want to uh and so that's where   you know some sort of screening if the tenant's 
got all kinds of debt then you're gonna have   issues and then rental history is important i see 
lawmakers today saying that we can't look at past   past landlord history well that's eviction 
history that's just a recipe for disaster   that's just going to hurt more landlords and 
you know it to me it doesn't it's it's just bad   it's just bad policy maybe you disagree now i 
totally get that that sometimes tendencies aren't   great for the tenants and i totally get that 
sometimes they're not great for landlords i mean   let's not be let's not be naive here but 
the idea that there that you can't look at   past rental histories in determining 
whether or not to rent to someone   that's just that's just bad so that's all i have 
for you i had three stories i just i just want you   to understand that it's bad for the tenants the 
patch for the landlords and the reason why it's   bad is in my opinion is because the laws aren't 
being followed and we're making up new laws as we   go that's got nothing to do with the reality of 
the fact that there's very there's a significant   number of small-time land lords that that that are 
not in a position to accept government aid and so   they're just getting crushed it's not okay anyway 
that's what i have for you today if you liked it   you know hit the like button do something maybe 
make a comment i don't know but that's all i have   thank you for watching thank you for 
listening and i will catch you on the next one

Crazy Landlord

As found on YouTube

Looking to see what kind of mortgage you can get? Click here to see

Leave a reply

Your email address will not be published. Required fields are marked *