Heads up! This could happen in other states: “You can pay rent with your security deposit during coronavirus pandemic, Murphy orders”

ARTICLE: Heads up! This could happen in other states (if you have security deposits). #multifamilystrong
“We are all in this together, tenants and landlords, and we can only emerge stronger when no one, and I mean no one, fears for their home or residence,” Gov. Phil Murphy said.
www.nj.com/politics/2020/04/you-can-pay-...03-uVw7DLNLN_DCjEMWI

I’ve started this.

If they are getting unemployment from the state + $600/mo from the Fed gov, why can't rent be paid? I'm just curious.

Karen Ramsey Seni most people aren’t actually getting that! Employers are keeping them on at 0 hours or not responding to unemployment claims, etc etc. there are people who have been waiting 5-7 weeks just to get their UI claim successfully processed.

Many companies were already doing this before the mandate. For many owners, this is a solid option.

I think it will happen. They just needed the idea.

Should you be able to inspect first to see if they even have a security deposit to theoretically use??

Cynthia Segraves Lovely I think that would go without saying: you cant be given credit for a deposit you do not have.

Cynthia Segraves Lovely I agree! I normally end up taking a lot of deposits for damages. ????

Would be a big problem in California where we’re not required to fully fund the security deposits in a separate account.

We are offering this but it has stipulations. My issue is that a mandate from a Governor seems to infringe on a private companies ability to do business.

Ellen Collier Maxime Simple math for politicians, one landlord vote lost but hundreds of residents votes gained. I would never vote for a politician that hasn’t ever successfully managed a private business.

Then how will the damages be covered when they move out. Very rare to get a unit back with no damage

Well then everyone will need to sign a new lease or an addendum stating such otherwise when they move out they will say my lease states I paid a deposit when I moved in ????

The mayor of NYC was talking about this a few days ago, I took a picture and forgot to post it.????

I don't see why this is ok. I'm an owner, that is more coming out of my pocket when they move. It's rare to not have any damages at the moveout. We are already losing money because people don't have to pay rent right now. We'll help our tenants if we can but we aren't a charity that gets donations. Our bank will make us pay our mortgage back in 3 months so that doesn't help much. I'm still waiting for the forgivable loan but most landlords seem to be getting only $1000 if they get anything

Lisa Waldman um that just means you have to charge them at move out instead of using the deposit

Amy Justus Katz yes but that isnt so easy to get it from them after they've moved. I've been at this 30+ years it's very stressful to go to court, go back and forth with them for months. That's why we have deposits up front to avoid all that mess. They are just putting more problems onto owners, passing the buck, without any assistance

Lisa Waldman just part of the cons to being a landlord, they could squat and just simply file bankruptcy on you as well and rip out the dry wall and all. Nothing people can really do about it right now other than sell the asset and let it be someone else’s worry etc.

This is crazy. Why is everything being put back on the landlord? No late fees, no evictions, but keep paying your mortgage...where does a tenant have ANY responsibility?!? I have someone sitting in one of my apartments that I cannot evict, she has all utilities included, I know she's getting unemployment but she basically tells me I'm harassing her everything I ask for rent.

It's really easy to say "help people" but I own my home, and I happen to own 2 little homes I rent out. I have 3 mortgages, why should I have to help my renters. Maybe I sound a little rude. But I have bills and I have kids I cannot afford to float people. My butt would be working anywhere to make the rent! But my renter to me, feels like a lazy unmotivated person right now. And the whole mortgage deferment is crazy, you will owe the WHOLE BALANCE in full in like 3 months.

It's really easy to say "help people" but I own my home, and I happen to own 2 little homes I rent out. I have 3 mortgages, why should I have to help my renters. Maybe I sound a little rude. But I have bills and I have kids I cannot afford to float people. My butt would be working anywhere to make the rent! But my renter to me, feels like a lazy unmotivated person right now. And the whole mortgage deferment is crazy, you will owe the WHOLE BALANCE in full in like 3 months.

Diana Creason to the eyes of many people, including politicians, sadly, a landlord is a “rich”person who doesn’t need any help.

Nate Borne true its a middle working class kinda getting stuck in middle. Most rentals are small ma and pa not big evil landlords like everyone thinks.

We started charging non refundable move in fees. If you charge 350 deposit (whatever your deposit might be) interest and depending on how long they live there will not cover much anyway. With the upfront non refundable fee the owner then have another income generator (especially now with less rent coming in) as we have generated income (we are still leasing like crazy) during this time. If it is a conditional approval we charge one month security plus the 350 non refundable
Win win

Michelle Bevan Fox we can't charge any fees except screening in Oregon, wish we could. We used to charge a move in fee, no more

We are going to start this for May - they can use whatever they have or want to use from their sec deposit and will sign a document and revise the lease

I feel like my job has become 100% more work and I feel for my residents and everyone that has been affected by the virus but I am drained. Between the requesting documentation and creating payment arrangements for people to sign, if this happens then leases will have to be regenerated and signed. ????