General > General Technical Chat
Just lost my job thanks to COVID-19, who else ?
nctnico:
--- Quote from: james_s on March 27, 2020, 05:30:47 pm ---At a glance tenant rights seem like a good thing, but that is a perfect example of the problems that are created by not having balance. If tenants have too many rights then there is little incentive for someone to rent out property they own and that means fewer rentals available.
--- End quote ---
That doesn't make sense. In the end it is about cost versus benefit (ROI). In the end being a good landlord pays itself back. Regulations just weed out the people who have no eye for the long game.
SiliconWizard:
--- Quote from: james_s on March 27, 2020, 05:30:47 pm ---At a glance tenant rights seem like a good thing, but that is a perfect example of the problems that are created by not having balance. If tenants have too many rights then there is little incentive for someone to rent out property they own and that means fewer rentals available.
--- End quote ---
Whereas this is true in theory, from a business POV, this IMO only impacts rentals marginally in practice. The reason is pretty obvious. For anyone owning properties that they don't use and don't make money off, it's just dead beef that is actually a net loss (owning a property always implies some expenses.) So most owners prefer renting, and taking some risk, than not renting at all.
Tenant rights may influence the kind of rental the owners choose (short term vs. long term for instance, or just vacation rentals), but even that depends a lot on the property itself and its location, so owners don't have that much choice in the end.
Wilksey:
Not thus far,
However, the UK government have said they will pay 80% of peoples wages on what is called Furlough, and it is also said that the government is encouraging people who have recently laid off employees to take them back under this scheme. There is a whole host of questions surround this and if you are lucky to be self employed and meet the right criteria you are also eligible for this, but there are a lot of self employed people who do not meet the criteria and are essentially up the creek without a paddle to put it politely.
I suspect for some employers it's an ideal time unfortunately to cull those they don't want to keep but couldn't legally get rid of previously.
Some smaller business cannot sustain the kinds of loss they are going to see and will fold regardless of this government scheme, but for the larger companies and other small companies able to sustain this unknown period of non trading, when the floodgates open and we are able to go back to whatever normality we can, they are going to need staff to get underway again and as they say it's the staff that make the company not the management.
I applauded Adafruit who in the early onset of what happened in NYC vowed to keep their staff and pay them in full to stay home, I don't believe they have or had any kind of government assistance when they said about it, things might have changed since I don't keep up to date with Trump and his stupid hats.
So, if you have been laid off recently and you have a government assisted employer scheme in place like we have then you can always contact them and ask them to take you back on Furlough, even if you leave after for the company treating you like absolute shite, it's better to get paid a bit than none at all.
Here in the UK they are paying up to £2,500 a month, then taking national insurance and tax from this, which is better than nothing but I suspect some folk might see a change in wages as (not including myself) some people get paid a lot more than that, especially living in large cities like London, so if some of them are put on Furlough they'll be complaining about it I suspect.
Say what you like about Boris Johnson, but he has certainly done what he said he was going to, a rare thing, particularly for a UK Prime Minister!
james_s:
--- Quote from: nctnico on March 27, 2020, 05:52:10 pm ---
--- Quote from: james_s on March 27, 2020, 05:30:47 pm ---At a glance tenant rights seem like a good thing, but that is a perfect example of the problems that are created by not having balance. If tenants have too many rights then there is little incentive for someone to rent out property they own and that means fewer rentals available.
--- End quote ---
That doesn't make sense. In the end it is about cost versus benefit (ROI). In the end being a good landlord pays itself back. Regulations just weed out the people who have no eye for the long game.
--- End quote ---
Well this was a reply to someone who said they were not renting out a property they own due to too many tenant rights. It creates a risk because once you get someone in its very difficult to boot them out due to this. A friend of mine had a rental condo for a while but he put it on the market and sold it to someone who lives in it after a bad experience with tenants.
I'm not saying tenants shouldn't have rights, only that there needs to be a balance. Landlords need to be able to remove tenants who are problematic so they can get someone in there that is not chronically late paying the rent, damaging the property, being a neighborhood nuisance, etc. Then there are unforeseen events like this pandemic that screw everybody. On one hand it's pretty shit to boot somebody who lost their job, but on the other hand a landlord who is just an ordinary person with bills to pay needs to make a living too. During the 2008 collapse a lot of rental properties went into foreclosure as landlords went bankrupt. It's a bad situation any way you look at it.
Kasper:
--- Quote from: nctnico on March 27, 2020, 05:52:10 pm ---
--- Quote from: james_s on March 27, 2020, 05:30:47 pm ---At a glance tenant rights seem like a good thing, but that is a perfect example of the problems that are created by not having balance. If tenants have too many rights then there is little incentive for someone to rent out property they own and that means fewer rentals available.
--- End quote ---
That doesn't make sense. In the end it is about cost versus benefit (ROI). In the end being a good landlord pays itself back. Regulations just weed out the people who have no eye for the long game.
--- End quote ---
I apologize for derailing the thread. I was trying to summarize the problem to not distract from the focus of this thread but 'tenant rights' is a touchy subject. I will add a bit of clarification and hope we can leave it at that.
It takes months to remove horrible tenants despite severe damage, criminal behavior and threats of violence. They can do damage equivalent to years worth of rent and it is impossible to get money from them. The probability is low but the severity is horrific. Regulations we have here protect horrible tenants and weed out good people who are too good to risk going to jail to remove bad tenants.
https://infotel.ca/newsitem/vernon-landlord-says-shes-out-of-rental-business-after-nightmare-tenant/it55176
https://globalnews.ca/news/4153633/nightmare-tenant-landlord-rights/
--- Quote ---“So the whole process looks like seven or eight months to get him out of a suite that he hasn’t paid for.”
--- End quote ---
Navigation
[0] Message Index
[#] Next page
[*] Previous page
Go to full version