Post by Clipper on Dec 20, 2021 9:17:19 GMT -5
cnycentral.com/news/local/syracuse-landlord-shares-struggle-to-get-by-with-eviction-moratorium-still-in-place-in-nys
It seems that the programs instituted during the height of the pandemic have taken the burden off those who were out of work due to covid shut downs, but when do landlords get the same level of government assistance that tenants have gotten?
The landlord in the article hasn't received rent in over 20 months. My stepson used to have 4 rental properties in Rome. Thank goodness he sold all but one before the pandemic hit, and got out of the rental business. He is a career army officer and sold all but one when he deployed to Afghanistan for the second time. The last property was occupied by a friend of his who paid rent or partial rent throughout the period covered by the eviction moratorium. The friend wanted to get out of the city of Rome and bought a house in Floyd. My stepson is leaving the house empty and for sale rather than to gamble with having someone else move into it. He had bought those houses over a period of several years as an investment for his retirement when he retired from the army.
It is sad that people who have invested in property as a means of income only to have the property become a tax liability and a maintenance money pit to be maintained with no income generated by rent. The guy in the article has probably lost well in excess of $10,000 and will still have to pay the taxes, and insure that it is kept heated over the winter if the tenant doesn't pay their utility bill, or see the property foreclosed on if it is mortgaged. It is sad that his investment is becoming a financial drain instead of generating income.
It seems that the programs instituted during the height of the pandemic have taken the burden off those who were out of work due to covid shut downs, but when do landlords get the same level of government assistance that tenants have gotten?
The landlord in the article hasn't received rent in over 20 months. My stepson used to have 4 rental properties in Rome. Thank goodness he sold all but one before the pandemic hit, and got out of the rental business. He is a career army officer and sold all but one when he deployed to Afghanistan for the second time. The last property was occupied by a friend of his who paid rent or partial rent throughout the period covered by the eviction moratorium. The friend wanted to get out of the city of Rome and bought a house in Floyd. My stepson is leaving the house empty and for sale rather than to gamble with having someone else move into it. He had bought those houses over a period of several years as an investment for his retirement when he retired from the army.
It is sad that people who have invested in property as a means of income only to have the property become a tax liability and a maintenance money pit to be maintained with no income generated by rent. The guy in the article has probably lost well in excess of $10,000 and will still have to pay the taxes, and insure that it is kept heated over the winter if the tenant doesn't pay their utility bill, or see the property foreclosed on if it is mortgaged. It is sad that his investment is becoming a financial drain instead of generating income.
Benny was a good guy. He was always pretty fair to his tenants.