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re: Proposed Bill would allows renters to break lease if area AROUND home is unsafe
Posted on 4/26/23 at 1:44 pm to RT1941
Posted on 4/26/23 at 1:44 pm to RT1941
And all those security measures will be for nothing, because Baton Rouge is going to Baton Rouge within a half mile of all those “secure” properties 
0
Posted on 4/26/23 at 1:56 pm to NPComb
If passed, this will make rents go even higher.
When underwriting loans for multi-family housing, banks will now increase the potential Vacancy rate of the complex, thus decreasing the Net Operating Income which is the money used to service the debt. The landlord now has to increase rents to cover the shortfall in the cash available to service debt.
How about we try to lower the occurrence of crime?
When underwriting loans for multi-family housing, banks will now increase the potential Vacancy rate of the complex, thus decreasing the Net Operating Income which is the money used to service the debt. The landlord now has to increase rents to cover the shortfall in the cash available to service debt.
How about we try to lower the occurrence of crime?
Posted on 4/26/23 at 1:56 pm to LSUSkip
quote:
Law of unintended consequences . . .
Allowing people to get out of a lease allows them to move out. I'm not sure that much would happen as a result of this law other than leases no longer having a term. When your renter gets ready to leave, they can cite a couple of crimes and leave. The renter will have to find a place to live and the landlord will have to rent to a new person. In the long run this will make renting a little more costly to the landlord which will probably push up rents a little. Seems like a dumb law that won't do much. It also seems like it has a snowball's chance in hell of getting passed and signed into law.
Posted on 4/26/23 at 1:59 pm to BiggerBear
A little? Try a lot
Posted on 4/26/23 at 2:02 pm to NPComb
quote:
Why are there so many laws now to protect deadbeat renters?
Every piece of legislation proposed by Democrats right now is designed to take money away from likely Republican voters and give it to likely Democrat voters.
Also, this seems like a ploy to try and get landlords to sell their rental properties so a company like Blackrock can come right in and scoop them up.
Posted on 4/26/23 at 2:03 pm to Skeet Mc
quote:
How about we try to lower the occurrence of crime?
Racist.
Posted on 4/26/23 at 2:05 pm to BiggerBear
Not a little more costly, a lot. With reducing Net Operating Income, the appraised value of the property will be reduced since the property is not as profitable. So a landlords wealth is decreasing along with his ability to obtain funding for expansion, improvements, repairs, and maintenance.
Oh, but on the bright side, the assessed value of the property “should” go down and less will be owed and paid in RE taxes that was supposedly going to help fund the safety and security that a city provides such as police, fire protection, sewerage, drainage etc.
Oh, but on the bright side, the assessed value of the property “should” go down and less will be owed and paid in RE taxes that was supposedly going to help fund the safety and security that a city provides such as police, fire protection, sewerage, drainage etc.
Posted on 4/26/23 at 2:23 pm to el Gaucho
I know you’re joking but this is actually somewhat true. All the landlords that got screwed by the eviction moratorium have raised rents unnecessarily to “burn em out”.
Posted on 4/26/23 at 2:40 pm to Oilfieldbiology
quote:
A little? Try a lot
Nah, everyone knows that anyone that owns rental property(ies) is rich and can just eat the additonal costs becasue they don't need any more money.
Posted on 4/26/23 at 3:17 pm to TheSadvocate
They do have an option to not volunteer extra monthly rent like an idiot.
Posted on 4/26/23 at 3:27 pm to RT1941
quote:
Then when vacancy rates increase because folks can't afford the rental rates, LL will spread those costs to the occupied spaces making rents increase even more.
Yeah, ok.
Posted on 4/26/23 at 4:11 pm to BigBinBR
quote:
Yep.
It would be really easy to switch everyone to month to month leases at double the “normal” rental rate. Then they won’t have a long lease that they need to break.
No way this passes, but it still makes me irrationally mad.
You'd be surprised at the shite that does pass.
Even more alarming is that the Federal government is paying law firms to take cases pro-bono that literally smites the tax paying landlords instead of the free loader. If the court has a liberal judge, then the owner is completely fricked if they don't use an attorney. Black Rock loves this shite because they have an army of attorneys that know how to navigate eviction resistance.
Posted on 4/26/23 at 4:30 pm to NPComb
So… they want the entire state to be able to break leases at will? Because there is not a fricking square inch of populated LA without those crimes within a half mile.
Posted on 4/26/23 at 4:32 pm to phunkatron
phunkatron (did I say that right?), you don’t tip your landlord? You gotta be trollin the board, player.
Posted on 4/26/23 at 6:05 pm to BiggerBear
quote:
, they can cite a couple of crimes and leave. The renter will have to find a place to live and the landlord will have to rent to a new person.
Landlords prefer having long term tenants. If they keep having to find new tenants every two months, they're going to stop renting. They'll put the houses up for sale and if they have to sit for months in bad areas, the likelihood that they stay in good enough shape to sell gets smaller by the day. Obviously a worst case scenario, but one that would play out many many times in big cities with big crime. Landlords have enough shite to deal with, some are still in debt from the rent moratorium, this isn't a good thing.
Posted on 4/26/23 at 6:27 pm to NPComb
quote:
two or more 'criminal instances' were reported to police in a six month time frame within a half-mile radius of the property.
Well, it's a stupid idea for a law, but beyond that this criterion is way too strict. I'd challenge anyone to find an address in Orleans Parish that isn't "high crime" by this definition.
Hell, my house (which I bought) is almost certainly in a "high crime" area by this definition. Where's my relief? I guess we rich old white men don't matter?
Posted on 4/26/23 at 7:44 pm to Porpus
The most Louisiana thing that could possibly happen would be the tenant getting the cops called on them multiple times then using that as a reason to break the lease without damages.
Posted on 4/27/23 at 9:47 am to member12
Crime like robbery murder but with this anything cops are called to…. So domestic or noise complaint and you can get out of your lease? Crazy.
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