Knew a dude from Brooklyn who wa a landlord to property in Orlando. Hard working brother. His tenants got over on him. Wasn’t the first time it happened but down there it’s something like 60 days before the landlord of the property can take issue an eviction notice and the the tenants have 30 days to clear out. And he didn’t take action right away because he was working with the tenants so they can catch but they ended jsut using his kindness against him so they can live rent free. So basically he doesn’t received income from that property for at least half a year. Dude was living at work trying to Cover the losses. Working 200 hours per lay period. He never felt bad for himself or looked mad. Always in Good spirit for a guy that worked so much that he ended up sleeping in his suv so he wouldn’t overlapped and be late.
The last year there's a property my mom owns and some tenants haven't been paying rent well before covid.
Some are late yet weren't affected by covid and still working. This one lady had issues with her husband. She was also unfaithful. The hubby took the son and up and went. She was stuck with no way to pay but still wants to live there. Cause she wants the luxury plus she was given leeway. A leeway she'll undoubtedly abuse cause she's deep in the red.
How come nobody wants to downgrade?
Tenants out here feel like they are entitled to your property.
People want to pass a fundamental cost of living which is rent onto to the landlords. Like they'll give no fukks up and move and the money you were relying on from them is no where to be seen.
Like this young lady. Her mom lives right next door and yet between them they can't agree to cut her costs. Have her move in and leave the apartment to generate income with another tenant. If her own mother can't accommodate why do you want a landlord to do so?