New Rental Law?

[Man]

I have a neighbor that was supposed to leave the house 12/16. I came home on 12/17 and noticed the police over and him still there. After talking with him next day he said the owner gave him an extra month to move out to help him.. and the new date was 1/30. I noticed yesterday that he was still there and asked if he needed help moving or anything. He said that Biden gave him 2 months free rent and that even the "POS" owner had to help subsidize it...and that he now didn't have to leave until 3/31 and there was nothing anyone could do about it. He said he was going to milk this for everything he could get and again..thanked Biden. I'm not trying to make this political...those were his exact words.
What did Biden pass that is allowing this? How is this going to affect rentals in the future as my mom is possible looking to potentially rent for first time here shortly?

[Pineywoods]

Wow. It probably isn't the greatest time to get into rental properties. A lot of risk involved in our current climate. A dead beat renter is very hard to get rid of and can cost an owner quite a bit.

[RiverRat1]

I'd be in jail

[Halfmoon]

https://sites.utexas.edu/covid19relief/tenant-protections/

[Reaper]

Biden extended the eviction and Foreclosure Moratorium. I don't think there are any new laws just an executive order to provide relieve longer.

""President Biden signed an executive order asking federal agencies to extend the moratorium on evictions and foreclosures. Originally set to expire on January 31, the relief now lasts at least another month and in some cases two months, with the possibility of more extensions. ""

Google " biden, eviction, executive order" there are several articles.

I'm not sure how it will affect your local market but if you live in a primarily rental neighborhood, it probably means the yards won't be nice this spring [emoji846]

Sent from my SM-G965U using Tapatalk

[BrianL]

It's been going on over a year with previous admin, and Biden just renewed the relief package. I know a property owner that was trying to evict over a year. Thankfully renters got a job up north and moved on their own, but lived rent free for since March 2020 till January.

[Grand Passage]

New Rental Law?

Wow. It probably isn't the greatest time to get into rental properties. A lot of risk involved in our current climate. A dead beat renter is very hard to get rid of and can cost an owner quite a bit.

I sold my long term rental property in September and could not be happier for this very reason.

I consider myself very blessed that my renters paid every month until I sold it.


Sent from my iPhone using Tapatalk

[AntlerCollector]

Are the property owners getting any kind of government payment in lieu of rent?

[JMart76]

I would recommend your neighbor who owns the property reach out to the county Judge about evictions. My parents rent in Guadalupe County and regardless of executive orders, they have evicted a tenant recently successfully. The tenant was not paying rent and was given an extension but still didn’t comply so now they are gone. Again reach out to local jurisdictions and have the conversation to determine what can and should be done.

[BrianL]

Are the property owners getting any kind of government payment in lieu of rent?

No

[Slew]

I sold my long term rental property in September and could not be happier for this very reason.

I consider myself very blessed that my renters paid every month until I sold it.


Sent from my iPhone using Tapatalk

Sold ours last fall as well! I had enough and the current real estate price gave us enough to pay our house off and have a little extra in the bank. Stressed my wife out too much wondering if the rent check was coming in and having to make the mortgage payment as well. We’ve been happy with the decision.

[OldRiverRat]

They had to bring in the swat team in deer park a couple weeks ago for an eviction

My guess is if you have Rntals you can kiss that property goodbye for at least 4 years which will likely eventually lead to some kind of squatters rights down the road




Sent from my iPhone using Tapatalk Pro

[TxDispatcher]

Are the property owners getting any kind of government payment in lieu of rent?

Landlords are in the "rich" segment of society...no need to help them, they have money running out of their ears

and in case anyone can't figure it out, that ^ is sarcasm

I just love the current state of affairs...I understand that some folks need the help, but losers like Man's neighbor are the downside to the whole issue. I won't say what I think of those types of people, but it isn't polite to say the least

[Txtourist]

I have a couple of rentals, thank God nobodies playing games with us so far. I have a relatively short fuse. Be a shame if I ran into the house making it uninhabitable with the skid steer clearing snow, or doing some odd project. I do have a landlord friend who prior to covid, would go take the doors off of houses in the Minnesota winter for service, which oddly coincided with rent being in arrears. Sheriff really couldn’t do much so he said. In our state, if they have kids or elderly, you can’t evict from November through April. Same with utilities, they cannot be shut off.
One of my employees kids has dozens of rentals and is losing his butt, and facing eventual foreclosures. He’s going out of his mind as there’s zero relief for him, while his tenants are receiving stimulus checks and opting not to pay rent. He’s offered thousands cash to get people to move out and then get the houses into section 8 guaranteed government rent. It’s a double edge sword getting in bed with section 8, but it’s his only option to guarantee payment at this point.

[sharpstick35]

if you have the capital now would be a good time to buy, but stay away from residentials and buy into commercial rentals. just don't take out a loan to do it.