When a tenant does not pay the agreed-upon rent in a timely fashion, this is what I hear: “I don’t have the rent that I owe, nor any savings or anything resembling an emergency fund. I can’t borrow it from a friend, relative or lending institution. So I’ll borrow it from you, my landlord, without your permission.”
Mortgage interest rates are considerably higher for non-owner occupied properties. My myriad lenders don’t accept excuses for nonpayment. I am on the hook whether a tenant pays or not. Excuses, however valid, are unacceptable. I tell every tenant this upon signing a lease: If you don’t pay, I will evict you. I have to. I am running a business.
Before the Legislature makes it harder for me to evict, please remember there are two sides to every story. When it hits the fan, I am covering the payments while not receiving rent, plus the costs of eviction, as well as unpaid utility bills and the repair of damages caused to my property.
If the billionaires who are funding this legislation truly want to help, how about giving the money to folks who are having trouble paying their rent?