Harsh reality faced by mom-and-pop landlords across the nation



ABC Information’ Trevor Ault stories on landlords struggling to outlive as tenants fall behind on hire. ABC Information Stay Prime, Weekdays at 7EST & 9EST WATCH the …

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48 thoughts on “Harsh reality faced by mom-and-pop landlords across the nation

  1. Being a landlord isn’t a job, it doesn’t add much if any value into the market. I swear to god, landlords are the only group of investors that can’t mentally handle loss.

  2. Sounds like the landlords are going to start evicting those tenants next month .
    Good They should have money stacked up since they weren’t paying any rent for about a year

  3. PROPERTY OWNERS SHOULD HAVE BEEN INCLUDED IN NOT HAVING TO PAY RENT. IT WOULD MAKE SENSE. LET THE GOVERNMENT FOOT THE BILL FOR EVERYONE. ALL THE TAX MONEY THE GOVERNMENT RECEIVE FROM SOCIETY SHOULD BE ENOUGH TO HELP EVERYONE FOR AT LEAST A YEAR.

  4. Thank you! The only narrative I’d heard up until this point was binary and overly simplistic. Most of us live in the middle. And, even in the case of forbearance; prop taxes, insurance, maintenance, repairs and HOAs still need to be paid. Why would that fall on landlords to cover this as someone else lives rent free in their property? What seems more fair in a global crisis such as this is a temporary rent reduction not a moratorium.

  5. 10 million can't pay rent yet Congress is bitching that 15 dollars an hour will leave 1.4 million stuck in poverty. Hmm 10 million or 1.4? They just want us to stay a slave

  6. I work in housing as my career. Right now the $25 Billion in relief funds can actually be applied for by landlords, but the tenant has to be income-qualified, and if they are missing rent odds are they will be. The challenge is local jurisdictions have to put the money they receive into a landlord oriented program. Also, I have seen numerous landlords encourage their tenants to apply for emergency rental assistance or walk them through the application themselves. It has helped a lot of Mom and Pop landlords so far.

  7. In my humble opinion the only way to get out of this situation is to eradicate this virus, then put people back to work. Then everything should fall back into place for the most part

  8. Rampant unemployment, homelessness, uncontrollable pandemic. America will burn to the ground if relief doesn’t come sooner.

  9. All landlords whether mom and pop or commercial have been jacking up their rent prices to the maximum they can get…I don't feel bad for them a tiny bit.

  10. First of all, please quit feeling sorry for these people. They took a risk that we all take when we make an investment. None of us would get a relief package for investing poorly. That said, they all had the ability to purchase some kind of pandemic insurance. It is not likely that any of these people should be investing in real estate without understanding the underlying risk. There were plenty of warning signs pointing toward an imminent danger of a pandemic. Massive poverty, low prevailing wage, homelessness, crowded conditions, poor health care, etc. All of these things pointed to the same type of fast spreading event that overtook the Romans ( https://en.wikipedia.org/wiki/Antonine_Plague and https://www.livescience.com/29498-plague-helped-destroy-roman-empire.html#:~:text=Plague%20Helped%20Bring%20Down%20Roman%20Empire%2C%20Graveyard%20Suggests,-By%20Charles%20Q&text=New%20evidence%20suggests%20the%20Black,more%20than%20100%20million%20people. ), the Greeks ( https://academic.oup.com/jhmas/article-abstract/XXI/4/394/812693?redirectedFrom=PDF and https://en.wikipedia.org/wiki/Plague_of_Athens ) as well as many other poverty stricken nations throughout Europe ( https://en.wikipedia.org/wiki/Black_Death and https://www.history.com/news/black-death-timeline ). Why anyone would even attempt to feel bad for the obviously bad investment practices of any United States business or private investor is beyond me. These entities are the culprits, not some kind of heroes. If anything, the degree and the severity of the pandemic is directly tied to the overall conditions of that nation. It becomes obvious then, that the United States is by far one of the worst nations on earth right now, both in terms of poverty, and also in terms of health care. I would have had Pandemic insurance as proofed @ https://www.facebook.com/frederick.lombardi/posts/2030061520376727

  11. If Government wants to help renters, it should pay the landlord directly. Denying landlord’s rights to his/her own property is unconstitutional. Government cannot put its burden on small landlords. This eviction moratorium should STOP

  12. If Government wants to help renters, it should pay the landlord directly. Denying landlord’s rights to his/her own property is unconstitutional. Government cannot put its burden on small landlords. This eviction moratorium should STOP

  13. So if people don’t have to pay their rent why do mortgagees have to pay their mortgage? This is an easy fix if the banks quit being greedy

  14. Being a landlord is huge risk that is worth the reward. All these landlords who looked like savants for taking said risk are now looking like dummies. I wasn’t upset when landlords are making profits out of charging people for their mortgage plus profit. On the other hand I don’t feel bad for their struggle now.

  15. I hate to sound like the Evil person here, but all the gov did when it allowed renters to suspend rent payments was to create a stimulus paid for by landlords, thus avoiding the bill itself.

  16. I don't feel sorry for landlords. They have overcharged their tenants for YEARS but I also believe they have the right to be paid.

  17. Wow have to find a different Cash cow to invest in mortgaging property is out of the picture to many headaches with renters

  18. Washington talk talk about Fixing the rent.problem. So far they have not did a tinker thing Time is $$$ money weather you are a renter or Landlord

  19. HEY REPUBLICANS HERE ARE TRUMP HAS DONE TO THE AMERICAN PEOPLE AND YOU THE STUPID PEOPLE WANT TRUMP THIS IS WHAT GAVE THE AMERICAN PEOPLE YES THE VIRUS IS NOT BUT THE SPREAD OF IT IS SO ALL OF YOU THAT WANT TRUMP GO QITH TRUMP SEE WHAT HE WILL GIVE YOU???

  20. When I rented my house the mortgage was $1100 and the rent I charged was $800 as that was the market. It takes a long time to turn a profit.

  21. You cant call it news when its been happening for 11 months , but you were busy selling fear and lockdowns 🤷🏻‍♂️

  22. Damn the guys in this video are lying, if a homeowner can't pay mortgage they can always sell their property. Houses are selling at historical highs right now.

    4:10 is saying banks will go after his personal saving during foreclosure, its a total lie bank can only foreclose the house on which they gave loan. big liers. I assume the 920 people who liked this video are home owners trying to build wealth by renters paying their EMIs. No wonder why housing is unaffordable.

  23. That’s what y’all get for charging huge prices for rent. I feel no sympathy for them. They should’ve saved all them money but no they wasted it all. Go cry a river.

  24. Since when does the government get to decide that my property is subject to free rent to tenants. If so gas stations, grocery stores, utility companies, banks etc should oblige to all affected by Covid too. If tenants need shelter land lords should have been compensated from day one. I know people who are losing rentals to foreclosure so now both they and their tenants are screwed and out of luck. Imagine trying to save up to buy houses CASH in a market that houses are 50, 100, 200 grand. By the time you did (if you could) house prices could double with inflation. There is usually slim NO PROFIT. Big business maybe but not small Mom and Pop as this story covers.

    Im in the NEGATIVE PROFIT range. After mortgage, taxes, insurance, repairs, tenant abusive damage, normal repainting/repair and vacancies after tenant leaves THERE IS SELDOM ANY PROFIT. In my 24 years of land lording I often have to use my OWN 9 to 5 cash to pay mortgages during vacancies, evictions and tenant basic repairs or malicious damage. I worked 2 jobs 6 or 7 days a week for 4 years to squeeze together deposits to buy a few houses to help me and my kids. Land lording is a slow game where over time you pay off mortgages to finally be debt free with a added cushion towards retirement towards your end game.

    ALL THIS WAS POSSIBLE BEFORE COVID ONLY. Now most landlords are in dire straits. If this had happened 10 or 20 years ago I could have lost everything I put up with (complete with entitled, trifling tenant from hell) to achieve this, I plan to sell all but one or 2 this year because of upcoming retirement and this COVID moratorium foolishness. A lot of tenant that jobs or situations didnt change simply stopped paying because they could get away with it showing their full ARSE, yes arse and lack of character and integrity. Im NOT talking about those who lost jobs through no fault of their own, just the leeches my rental investor group and I know of. As my properties become empty they will be sold except those guaranteed by section 8.

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