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Landlords - Moratorium on Rent Payment ?

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88sins
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Re: Landlords - Moratorium on Rent Payment ?

Postby 88sins » October 8th, 2020, 7:34 pm

elec2020 wrote:Lol. So landlords believe that tenants will just accept higher rents? The day my own do so i gone and find something else. I know many who ready to the same. Also. My landlord hasn't even touched rent but over the year they have 4 vacant spaces when they were never vacant previously. Previous places i have rented have also called me yo find if i want to come back or know someobe who wants to rent cause they have vacancies. Have some sense. Times hard and you think people will not adjust themselves to suit? Lol good luck with that higher rent


That's the beauty, you are free to leave if your landlord raises the rent (providing your lease allows for it). They eh go vex with you. I agree, shitsgettingharder, & TTD doesn't have the power it used to, and many people are learning that they must do all they can to live within their means and save a penny wherever possible. Nothing wrong with that at all.
But to expect your landlord to "absorb" all new or increasing expenses, simply because things not as nice for you as they were before, that's the wrong way to go. If you can't find a middle ground, move if you want. If you not moving, pay the people rent. It that simple. Anything else you want to put into it is useless unnecessary frivolous complications that benefit neither party.

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Re: Landlords - Moratorium on Rent Payment ?

Postby elec2020 » October 8th, 2020, 8:37 pm

Compare the situation with some of the malls in trinidad. The owners refused in some cases to budge with the rent amd what happened? Liquidation? It is similar to asking for a rent increase. You will lose tenants. So why do it? Some landlords i know already losing tenants. So why aggravate the situation. While i understand costs gone up. Isn't some money to meet the costs better than no money? But that is tnt mentality. I rather sell at a high price and get 0 sales than lower my price and get in some much needed dinero. And when they go buss is like but wait what happened here

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Re: Landlords - Moratorium on Rent Payment ?

Postby adnj » October 8th, 2020, 8:38 pm

Redman wrote:
zoom rader wrote:Already told my tenants that support the red jack arse government that my rents are going up cause of their government .

They were not happy and told them my hands are tied from the red government


Predatory like the 1% you always bawling at.

ARV is about 5% of the valuation.

The tax is 3% of ARV.
So the tax is actually 3% of 5% of the value of the property

Therefore its a .0015% of the Value of the property.

Despite ALL the savvy you claim to have if YOUR business cannot absorb a .0015% increase in your cost... then:

a) Its poorly run.
b)You dont give a fck about your customers that paying you.
c)You are predatory and greedy-capitalizing on the situation.

Your true colors showing.
You just spelled out a cost increase of 3% per year for a rental property.

Interestingly, the average property tax in the US is right around 1.1% of property value per year.

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Re: Landlords - Moratorium on Rent Payment ?

Postby Redman » October 8th, 2020, 9:05 pm

Now that you point it out...you right.

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Re: Landlords - Moratorium on Rent Payment ?

Postby 88sins » October 8th, 2020, 10:12 pm

elec2020 wrote:Compare the situation with some of the malls in trinidad. The owners refused in some cases to budge with the rent amd what happened? Liquidation? It is similar to asking for a rent increase. You will lose tenants. So why do it? Some landlords i know already losing tenants. So why aggravate the situation. While i understand costs gone up. Isn't some money to meet the costs better than no money? But that is tnt mentality. I rather sell at a high price and get 0 sales than lower my price and get in some much needed dinero. And when they go buss is like but wait what happened here

It not so simple eh.
Mall tenants will say they not making anything due to covid and economic contraction so they can't pay rent, while they are. They making money, not as much as usual but still something of a percentage. Meanwhile, t&tec & wasa still sending the landlord bills, stuff still need fixing and maintenance, and tenants grumbling even though they not paying. So it makes more sense to keep the rental due, for as long as the tenant store is open.
Hadda see it from the business perspective. To some its better to lose a tenant and not have them occupying and potentially damaging your place and make nothing or less than what you'd usually make, than to have them in your place and probably making money and you not sure if you will get your rent while your bills for things they using piling up.

Everyone hadda make the best choices they can that available to them in their situation, landlord and tenant alike.

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Re: Landlords - Moratorium on Rent Payment ?

Postby elec2020 » October 8th, 2020, 10:20 pm

I not calling for a rent freeze mind u. I just stating why a rent hike mightn't be as profitable as some landlords feel. But your points are duly noted. As it stands most landlords would anyway have to wait till contract is to be renegotiated to do a hike. Also, while i am off course not a landlord at this point in time, if i have 8 spaces at lets say 4k a month (with amenities included) and at any point in time i have at least 5 always occupied idk how tntec, wasa and property tax will suddenly make me into such a sufferer that i need to raise rent by 500. In talking to some landlords they feel imo that they alone not supposed to feel a dip in revenue/profit at the end of the month during this covid period.

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Re: Landlords - Moratorium on Rent Payment ?

Postby 88sins » October 8th, 2020, 11:39 pm

elec2020 wrote:I not calling for a rent freeze mind u. I just stating why a rent hike mightn't be as profitable as some landlords feel. But your points are duly noted. As it stands most landlords would anyway have to wait till contract is to be renegotiated to do a hike. Also, while i am off course not a landlord at this point in time, if i have 8 spaces at lets say 4k a month (with amenities included) and at any point in time i have at least 5 always occupied idk how tntec, wasa and property tax will suddenly make me into such a sufferer that i need to raise rent by 500. In talking to some landlords they feel imo that they alone not supposed to feel a dip in revenue/profit at the end of the month during this covid period.

In those expenses you forget a few, like the mortgage.
Because something many tenants don't think about, is that a lot of landlords actually in a mortgage up to their eyeball for the next 15-30 years in order to have a place to rent out and try to earn an income. All that the tenants see, "my rent is 3000, he living like a king off me tax free". They selectively choose to not think that of that 3k, probably 1.5-2k going to the mortgage, 300 for utilities, another 300 for maintenance costs. And this gets really aggravating when you got bad tenants.

People does feel renting out apartments is all easy-peasy tax free stress free money and yuh rich in a year. Yet doh wuk so.

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Re: Landlords - Moratorium on Rent Payment ?

Postby teems1 » October 9th, 2020, 7:29 am

The lion's share of property tax in the US goes towards paying for the schools in that district.

It's why parents have no problem paying the tax since they know their children are going to the best schools.

It's not like Trinidad where it all goes into one pot the government eventually wastes.
adnj wrote:
Redman wrote:
zoom rader wrote:Already told my tenants that support the red jack arse government that my rents are going up cause of their government .

They were not happy and told them my hands are tied from the red government


Predatory like the 1% you always bawling at.

ARV is about 5% of the valuation.

The tax is 3% of ARV.
So the tax is actually 3% of 5% of the value of the property

Therefore its a .0015% of the Value of the property.

Despite ALL the savvy you claim to have if YOUR business cannot absorb a .0015% increase in your cost... then:

a) Its poorly run.
b)You dont give a fck about your customers that paying you.
c)You are predatory and greedy-capitalizing on the situation.

Your true colors showing.
You just spelled out a cost increase of 3% per year for a rental property.

Interestingly, the average property tax in the US is right around 1.1% of property value per year.

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Re: Landlords - Moratorium on Rent Payment ?

Postby Redman » October 9th, 2020, 8:35 am

Based on 2009 numbers....land and building taxes equates to less than 20% of municipal expenditure.

This tax equates to .0012% of the value of the property.

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Re: Landlords - Moratorium on Rent Payment ?

Postby elec2020 » October 9th, 2020, 9:24 am

@88sins fair point. But thats even more of a reason to find a middle ground when it comes to rent fees as the banks not playing this rounds. Remember we under IFRS 9 and that has basically forced institutions to be very proactive in how they address past due loans (especially in bad times). So landlords who have outsanding debt on their properties must be careful as, i am sure u already have vacant spaces, and if you raise rent and u lose a few more tenants what u gah tell the bank. Cause just like with landlords they ain't want no sad story when the end of the month come. They will evict after a time (maybe after 6 months past due and the loan can no longer be refinanced) and claim back what is their's.

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Re: Landlords - Moratorium on Rent Payment ?

Postby Redman » October 9th, 2020, 9:37 am

Every business has to balance everything.
Having clients/renters/buyers has a value.
Do we lose more losing a client, or is it better to hold on and take price cuts on your product.

Land lords have to do the same.

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » October 10th, 2020, 3:35 am

Redman wrote:Every business has to balance everything.
Having clients/renters/buyers has a value.
Do we lose more losing a client, or is it better to hold on and take price cuts on your product.

Land lords have to do the same.


Landlords have a choice .

Raise the rent and lose a Tenant .

The educated understand .

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Re: Landlords - Moratorium on Rent Payment ?

Postby elec2020 » October 11th, 2020, 3:14 pm

https://trinidadexpress.com/newsextra/m ... 81b27.html

Chin claims that this was due to the covid and having a difficult landlord. Another event that shows why i said raising rents now will backfire

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » October 11th, 2020, 6:13 pm

elec2020 wrote:https://trinidadexpress.com/newsextra/movietowne-chaguanas-closes-permanently-derek-chin-explains-why/article_03c0bbf0-0be7-11eb-aa89-a704e0981b27.html

Chin claims that this was due to the covid and having a difficult landlord. Another event that shows why i said raising rents now will backfire


Chin is also a Landlord so it's interesting to find out in due course what exactly is a "difficult" Landlord :D

He was denied expansion in the West so he moved to Guyana . He was born in Guyana :wink:

Again, the business atmosphere is gloomy since Mital International left and no one seems to understand why :wink:

Or do they ? :lol:

Who was the Landlord in those exciting times ? :lol: :lol:

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Re: Landlords - Moratorium on Rent Payment ?

Postby nismotrinidappa » October 12th, 2020, 8:20 am

No rent collected from march to present. But don't want to lose the tenant and they already closed another location so I am assuming my location will become head office... #eatlittlelivenextyear..


And on the flipside. I thinking about asking landlord to reduce rent.. but I think it not going to happen as they already feeling pressure from other tenants. Good news for me is I managed to reduce my ttec bill by 500 dollars through prudence

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Re: Landlords - Moratorium on Rent Payment ?

Postby Dave » October 12th, 2020, 8:23 am

Kudos to you. What did you do to reduce your electricity consumption?

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Re: Landlords - Moratorium on Rent Payment ?

Postby timothymcdavid » October 12th, 2020, 1:40 pm

RedVEVO wrote:
elec2020 wrote:https://trinidadexpress.com/newsextra/movietowne-chaguanas-closes-permanently-derek-chin-explains-why/article_03c0bbf0-0be7-11eb-aa89-a704e0981b27.html

Chin claims that this was due to the covid and having a difficult landlord. Another event that shows why i said raising rents now will backfire


Chin is also a Landlord so it's interesting to find out in due course what exactly is a "difficult" Landlord :D

He was denied expansion in the West so he moved to Guyana . He was born in Guyana :wink:

Again, the business atmosphere is gloomy since Mital International left and no one seems to understand why :wink:

Or do they ? :lol:

Who was the Landlord in those exciting times ? :lol: :lol:

Current govt of Guyana has some issues with how movietown in Guyana was constructed ... Trini's need to realize in these countries like Guyana and Suriname when the central govt changes it is a whole different ball game and more new considerations to be paid to do business.

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Re: Landlords - Moratorium on Rent Payment ?

Postby bluefete » October 12th, 2020, 3:10 pm

nismotrinidappa wrote:No rent collected from march to present. But don't want to lose the tenant and they already closed another location so I am assuming my location will become head office... #eatlittlelivenextyear..


And on the flipside. I thinking about asking landlord to reduce rent.. but I think it not going to happen as they already feeling pressure from other tenants. Good news for me is I managed to reduce my ttec bill by 500 dollars through prudence


Friend of mine cut rent in half for tenant whose industry had to shut down. Tenant trying other things but making the payments so far. And he did not have to advertise like young Sabga about cutting rents in Grand Bazaar - 6 months later.

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Re: Landlords - Moratorium on Rent Payment ?

Postby nismotrinidappa » October 12th, 2020, 3:47 pm

Dave wrote:Kudos to you. What did you do to reduce your electricity consumption?


Boy I micro manage my meter and checked consumption for everything. Unplugged phone laptop chargers . It's the 220 appliances a.c water heater and dryer that was sucking. I cut down my usage. Btw the water heater hot and cold line to the kitchen sink was the main culprit.

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » October 14th, 2020, 4:12 am

timothymcdavid wrote:
RedVEVO wrote:
elec2020 wrote:https://trinidadexpress.com/newsextra/movietowne-chaguanas-closes-permanently-derek-chin-explains-why/article_03c0bbf0-0be7-11eb-aa89-a704e0981b27.html

Chin claims that this was due to the covid and having a difficult landlord. Another event that shows why i said raising rents now will backfire


Chin is also a Landlord so it's interesting to find out in due course what exactly is a "difficult" Landlord :D

He was denied expansion in the West so he moved to Guyana . He was born in Guyana :wink:

Again, the business atmosphere is gloomy since Mital International left and no one seems to understand why :wink:

Or do they ? :lol:

Who was the Landlord in those exciting times ? :lol: :lol:

Current govt of Guyana has some issues with how movietown in Guyana was constructed ... Trini's need to realize in these countries like Guyana and Suriname when the central govt changes it is a whole different ball game and more new considerations to be paid to do business.


Sooner of later the so-called truth will surface via the scandal sheets :lol: :lol:

But chances are it's just a commercial rental deal that is being negotiated between titans in real estate .

In general Landlords will want the extract as much $$$ from tenants regardless of consequences .

A Past Gov't came to the aid of tenants (residential ) via "rent control" and this may be needed now per COVID 19.

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » October 20th, 2020, 10:17 am

^^

Did Mega Landlords see this thread (ched) ?

You think ? :D :D

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » November 9th, 2020, 2:45 am

" .. tardiness of gov't to pay rental assistance .. "


https://www.guardian.co.tt/news/babies- ... 2a5cc4a39d

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Re: Landlords - Moratorium on Rent Payment ?

Postby 88sins » November 9th, 2020, 6:55 am

study to pay the rent for yuh hovel & stop looking for handouts

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Re: Landlords - Moratorium on Rent Payment ?

Postby De Dragon » November 9th, 2020, 7:04 am

88sins wrote:study to pay the rent for yuh hovel & stop looking for handouts

Michelin rated meals fi cook inna dat hovel bwoy, wha' 'appen to you?

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Re: Landlords - Moratorium on Rent Payment ?

Postby MaxPower » November 9th, 2020, 8:29 am

RedVEVO wrote:Tenants :


SAVE YOUR MONEY

Keep your cash for your family .

BUY FOOD & MEDICINE .


TB

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » November 10th, 2020, 2:03 pm

^^
So the Children Authority not acting to assist the babies ?

Under Biden the Child's Welfare Unit will move in and assist in like 2 minutes .

So what is the excuse of the Ministry of Social Whatever ?

Did the IT printer break down ? Again .

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » April 22nd, 2021, 9:01 am

^^

Govt finding $$$ and supplies to send to SVG .

Meanwhile are they helping TT displaced workers ?

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Re: Landlords - Moratorium on Rent Payment ?

Postby Ben_spanna » April 22nd, 2021, 9:04 am

RedVEVO wrote:^^

Govt finding $$$ and supplies to send to SVG .

Meanwhile are they helping TT displaced workers ?


OUR own T&T workers in the private sector still have not received any of the Covid relief funds!

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Re: Landlords - Moratorium on Rent Payment ?

Postby RedVEVO » April 22nd, 2021, 9:21 am

Ben_spanna wrote:
RedVEVO wrote:^^

Govt finding $$$ and supplies to send to SVG .

Meanwhile are they helping TT displaced workers ?


OUR own T&T workers in the private sector still have not received any of the Covid relief funds!


Gov't claims that T&T have no facilities to help the T&T people - " We have NO money "

Yet ships of supplies and regiment going to SVG .

While T&T suffering :roll: with NO aid to T&T people.

Where is the stimulus $$$$ like in USA ?

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Re: Landlords - Moratorium on Rent Payment ?

Postby widdyphuck » April 22nd, 2021, 10:27 am

RedVEVO wrote:
Ben_spanna wrote:
RedVEVO wrote:^^

Govt finding $$$ and supplies to send to SVG .

Meanwhile are they helping TT displaced workers ?


OUR own T&T workers in the private sector still have not received any of the Covid relief funds!


Gov't claims that T&T have no facilities to help the T&T people - " We have NO money "

Yet ships of supplies and regiment going to SVG .

While T&T suffering :roll: with NO aid to T&T people.

Where is the stimulus $$$$ like in USA ?
The leaders of the USA have common sense.
If you have lockdowns, people and children will be hungry. But in Trinidad is every man for himself. Since lockdown started politicians collecting full salary, perks, entertainment tax free dollars so they wont feel the pain.
This is why the poor man rejoice when the end up like Franklyn on a chair. Their death is the poor man's justice.

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