IAC helping those laid off

T

TimHume_IHB

New member
From a reliable source, I've heard that an IAC complex is working with renters that have been laid off to reduce their lease. Apparently they are facing a noticeable increase in people not being able to afford rent. I don't know if all places are doing this or just one.
 
Happened to a friend of mine. He was renting a 2BD/2BA and got a pretty big pay cut @ work. He talked to the leasing office and they agreed to move him into a different floorplan with less square footage and lower rent. The catch is that he had to sign a 16 month lease .
 
The Townhouse we are in now had two guys in it before us and one of them lost their job and moved away, and IAC moved the remaining guy into a smaller unit. I don?t know about the 16 month lease for him, but my rent is $25/$50 higher because I wouldn?t agree to a 16/24 month term.
 
[quote author="Mitoman" date=1239072545]Reward those who fails and punish those who succeeds, no offense but it isn't really fair.</blockquote>


Sorry but sometimes it's not the person's fault that gets laid off. You can be perfect at your job but if your company isn't healthy and cuts everyone there is nothing you can do about it. Look at all the financial CEO's who made hundreds of millions and their entire firms went under, you can't tell me EVERYONE on the staff sucked.



It also takes time to find a new job, especially when your industry gets flooded by layoffs and talent is ripe, and not everybody has had the luxury of having the 6-12 month emergency fund cushion. (Or their parents' basement or bank account to live off of).





There is a similar practice the airlines used to do (not sure if they still do it), where you can get a lower ticket price if someone in your immediate family dies. You have to send them a copy of the obituary to prove it, but I'd say that's just good customer service.
 
"the luxury" of a 6-12 month emergency cushion? Sorry, but that's called responsibility.



If you dont have it, you need to save it up quick. If you cant save it up with your current lifestyle, you need to take steps to lower your monthly expenses until you can save the proper amount. I'm so sick of this attitude of victimization just because people cant stand confronting the REAL possibility of the worst case scenario.



I'm not completely cold. I am sure there are actual exceptions here and there. But I doubt 98% of people would get my sympathy if I looked at their last 24 months of spending with a fine-tooth comb when they said "but i couldnt save that much".
 
[quote author="MojoJD" date=1239086607]"the luxury" of a 6-12 month emergency cushion? Sorry, but that's called responsibility.



If you dont have it, you need to save it up quick. If you cant save it up with your current lifestyle, you need to take steps to lower your monthly expenses until you can save the proper amount. I'm so sick of this attitude of victimization just because people cant stand confronting the REAL possibility of the worst case scenario.



I'm not completely cold. I am sure there are actual exceptions here and there. But I doubt 98% of people would get my sympathy if I looked at their last 24 months of spending with a fine-tooth comb when they said "but i couldnt save that much".</blockquote>


Word.
 
The reality is that crap happen and sometimes it's out of our control. The thing that we do have control of is saving up a "rainy" day fund. No one wants to get laidoff and some of us that did get let go of question why when there were less productive folks that remained employed. We can't on anyone but ourselves.
 
IMO moving a tenant to a cheaper unit to accommodate his/her economic situation is just good business practice. A tenant who pays rent on time and never cause trouble is a good tenant. Whenever a good tenant leaves, you're taking chances with the next tenant, who might not pay rent on time or cause problems.



We could blame the lack of personal responsibility, but our society is also driven by consumerism. Everywhere you look it's BUY BUY BUY SALE SALE SALE. When people equate bling blings with success they will blow their paychecks on the latest Xbox game instead of saving it. If you ever see the message "a penny saved is a penny earned" on TV, it's probably because they're trying to sell you something for $99.99.



I was taught in school that you should maintain a reserve fund of 6 month's living expenses. This should be cash (savings, CD, money market) and not borrowing against or cashing out of your retirement fund.
 
I don't see letting somebody rent a smaller unit as a major "bailout". Letting them have a reduced rent in the same unit would be, although if temporary, could also be a good business move-depends on the vacancy of the complex.
 
[quote author="momopi" date=1240223864]



We could blame the lack of personal responsibility, but our society is also driven by consumerism. Everywhere you look it's BUY BUY BUY SALE SALE SALE. When people equate bling blings with success they will blow their paychecks on the latest Xbox game instead of saving it. If you ever see the message "a penny saved is a penny earned" on TV, it's probably because they're trying to sell you something for $99.99.</blockquote>


No, I still blame lack of personal responsibility.
 
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