• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Have You Suffered Negative Financial Consequences Due to the Coronavirus Pandemic?

Have You Suffered Negative Financial Consequences Due to the Coronavirus Pandemic?

  • Yes, I have suffered negative financial consequences due to the coronavirus pandemic

    Votes: 35 47.9%

  • No, I have not suffered negative financial consequences due to the coronavirus pandemic

    Votes: 28 38.4%

  • I have not yet felt any financial effects, positive or negative

    Votes: 6 8.2%

  • Other

    Votes: 4 5.5%
  • Total voters
    73
jotathought said:
I've not been negatively impacted by the corona virus pandemic regarding my career -- just from an investment perspective. The corporation where I work has transitioned a large majority of its workforce to a work from home scenario, so I've enjoyed a few extra minutes of sleep in the morning and no commute time. My wife works for the same organization and schools are virtual, so the entire family has been home the last 3 weeks. The bonus is, I'm spending significantly less on expenses since we're eating at home, kids expenses for tuition, cleaning and I've had the same tank of fuel for over 3 weeks now.
Click to expand...

I suggest you get some Stabil to preserve the gas in your tank. The gas will go bad after a bit. It tends to separate especially if there is ethanol in it.
 
I am in the public sector, so I have not yet felt anything beyond scarcity of toilet paper, etc.
 
Im still working cause my company was considered essential because we supply pharmaceutical companies so im mostly trying to make sure my fellow employees are staying safe.
 
SkyChief said:
The Rental Agreement gives me some options. I may assess a late fee in addition to back rent owed. According to California Law, I must give the renter 3 days to correct the problem.

It's been 9 days, so legally I can begin eviction procedures.

However a temporary moratorium on non-payment evictions were put in place on March 4th.

Beginning March 4, 2020, through the end of the local emergency, no owner can evict a residential tenant for nonpayment of rent if the tenant is unable to pay rent because of circumstances related to the COVID‐19, such as:

Loss of income due to workplace closure or reduced hours due to COVID‐19.
Loss of income or increased child care expenditures due to school closures.
Health care expenditures related to being ill with COVID‐19 or caring for a household member who is ill with COVID‐19.
Loss of income relating to reasonable expenditures stemming from government ordered emergency measures.

So at the end of the local emergency, the renter has 3 days to pay the unpaid rent. . . which will literally be thousands of dollars. He certainly won't have it.

I will need to begin eviction procedures when the all-clear is given. It looks like that will be in May or June.
Click to expand...

Just out of curiosity you cant work with that kind of tenant? Why would not just arrange a catch up plan? The other question I have is how hard is it going to be to find a good tenant in these market conditions?
 
PirateMk1 said:
Just out of curiosity you cant work with that kind of tenant? Why would not just arrange a catch up plan? The other question I have is how hard is it going to be to find a good tenant in these market conditions?
Click to expand...
He told me that the business he worked for closed - - he won't be getting his job back.

After the dust settles from the pandemic, many business will have closed, and finding jobs will be nearly impossible for everyone. The talking heads are predicting a 12% - 15% unemployment.

Finding new tenants won't be a problem because our rental house is in a high population-density neighborhood, so there are mostly apartment buildings. Rental houses like ours are highly sought after. There are waiting lists of renters trying to rent homes in that neighborhood.
 
SkyChief said:
The Rental Agreement gives me some options. I may assess a late fee in addition to back rent owed. According to California Law, I must give the renter 3 days to correct the problem.

It's been 9 days, so legally I can begin eviction procedures.

However a temporary moratorium on non-payment evictions were put in place on March 4th.

Beginning March 4, 2020, through the end of the local emergency, no owner can evict a residential tenant for nonpayment of rent if the tenant is unable to pay rent because of circumstances related to the COVID‐19, such as:

Loss of income due to workplace closure or reduced hours due to COVID‐19.
Loss of income or increased child care expenditures due to school closures.
Health care expenditures related to being ill with COVID‐19 or caring for a household member who is ill with COVID‐19.
Loss of income relating to reasonable expenditures stemming from government ordered emergency measures.

So at the end of the local emergency, the renter has 3 days to pay the unpaid rent. . . which will literally be thousands of dollars. He certainly won't have it.

I will need to begin eviction procedures when the all-clear is given. It looks like that will be in May or June.
Click to expand...

Do you think that you will get renters once you evict the current tenet?

If this renter can't pay then will others that are in his/her salary scale be able to pay, because they most likely faced similar circumstances...

Does the renter have the option of paying rent in arrears?
 
PirateMk1 said:
Just out of curiosity you cant work with that kind of tenant? Why would not just arrange a catch up plan? The other question I have is how hard is it going to be to find a good tenant in these market conditions?
Click to expand...

I just asked these questions! :lol: See above post.
 
Bodhisattva said:
Do you think that you will get renters once you evict the current tenet?

If this renter can't pay then will others that are in his/her salary scale be able to pay, because they most likely faced similar circumstances...

Does the renter have the option of paying rent in arrears?
Click to expand...
I doubt very much that the renter will be making any more payments. His partial payment on April 1st is most likely the last penny we'll be getting.

I hold no ill will towards our renter - like many Americans, he was living paycheck-to-paycheck and the pandemic caused him to lose his job (and his means of paying the rent).

When I begin eviction process, it will be strictly business - - not trying to punish or harm anyone.

We rely heavily on the income of the rental (it provides around ~30% of our combined income), so we need to get someone who can pay the rent ASAP.

After evicted, his family will most likely qualify for Section 8 housing (gov't funded), so it's not like he will be dumped on the street.
 
SkyChief said:
I doubt very much that the renter will be making any more payments. His partial payment on April 1st is most likely the last penny we'll be getting.

I hold no ill will towards our renter - like many Americans, he was living paycheck-to-paycheck and the pandemic caused him to lose his job (and his means of paying the rent).

When I begin eviction process, it will be strictly business - - not trying to punish or harm anyone.

We rely heavily on the income of the rental (it provides around ~30% of our combined income), so we need to get someone who can pay the rent ASAP.

After evicted, his family will most likely qualify for Section 8 housing (gov't funded), so it's not like he will be dumped on the street.
Click to expand...

Thank you for sharing this... :)
 
No, I have not suffered negative financial consequences. My 401k has doubled and more people have demand of art than ever before.
 
Only as far as my 401k is concerned. Though I don't count that as a real loss since I don't intend on accessing the money for, at minimum, a couple decades. It's looking very likely I'll get laid off if Michigan continues the stay-at-home order past April 30th though.
 
You must log in or register to reply here.
Back
Top Bottom