Monday, August 9, 2021

Biden Bends the Constitution Against Landlords

(Image by Gary Varvel)

Last week, Zhou Bai Den via the CDC issued a new eviction moratorium after the federal ban lapsed.

In Sean Reynolds' latest Summit Properties NW video asked:  Since when does the CDC have the authority to ban anything?

While the Harris-Biden Administration plays Marxist games...

(Image by Steve Kelley)

...the eviction's moratorium 2.0 squeezes small-time landlords.

Crooked Joe even admitted he's just "...buying keep this going..." in order to keep bucking the Supreme Court's July 31st deadline.

In a sane world, China Joe's actions would ignite a firestorm for his impeachment.

But we live in Clownworld.

I chose this topic because, pardon the pun, it hits home with me.

Up until March I rented-out a house I bought back in 2011 after my divorce from my second ex-wife.  In the spring of 2013, I remarried, moved out, hired a property management company, and began renting my house that fall.

In 2015, the property management company was under new ownership and my third tenant moved in.  She was an elderly woman and was receiving funds from Washington State's Section 8 Housing Program for low income & disabled renters.

When I signed my initial landlord contract, I specifically stated I did not want any Section 8 renters.  However, the elderly woman was a friend of the new owner--and she didn't review any of the contracts of her newly acquired business.

Receiving monthly rental checks was nice, but my anxiety increased with each passing year.  The tenant had custody of her grand kids and great grand kids.  Her kids had a sketchy reputation and I'd often see a few never-do-wells hanging out at the house.  Meanwhile, the property manager was getting flakier and flakier, making it harder to schedule any routine maintenance.  (The office assistant confided in me that she was worried her boss had fallen off the wagon).  

Then my rental checks started arriving in an erratic manner, and one month I didn't receive a check at all.  The property manager was "at a loss" as to why I didn't receive that payment. 

But having a tenant under Section 8 turned out to be a blessing in disguise.  While other landlords were hung out to dry, I was still receiving rent money via the county government.

(Image by Lisa Benson)

Two weeks after the 2020 Election, my tenant called me directly to ask if I'd talked to the property manager.  Apparently she was withholding my tenant's security deposit, and ducking her phone calls because my tenant moved out.

My wife and I acted fast.  My wife called a realtor she knew, a young lady that grew up next door to my wife.  Two days later I met with my realtor, and signed the contract.  Within a week the interior was repainted, damaged appliances and carpeting were replaced.  A week later the house was put on the marked and I had a buyer within a few days.

Then things slowed to "glacial speed," and I was anxious to get the deal closed before Inauguration Day.

First, my perspective buyer got laid off, which halted the home loan application until she could prove she had 30 days of continuous work experience.  

This delayed the sale until mid-January, but shortly after Biden was sworn in--interest rates went up, so the buyer had to renegotiate her home loan and asked if I'd give her a $3000 credit to the closing costs.

She had to move out of her apartment by 1 February, so my realtor suggested to have the buyer and her husband move-in and rent my house on a week-by-week basis until the deal was closed.

By mid-March my rental house was officially sold.

Talk about dodging the bullet.

I'm so happy to be out of the Landlord Business with only one missed monthly check.

I was afraid I'd end up like this guy:

(Image by Chip Bok)

Even though there are alternatives landlords can pursue they all sound like bureaucratic hassles to me.

Best wishes to all you landlords out there, you have my sympathy. 

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