eyephone said:
Mety said:
So eyephone, how are you liking renting so far?
CBS News: Growing number of Americans say: We're not paying the rent
Thousands of people around the U.S. are calling for politicians to cancel rent and mortgages, with temporary legal restrictions on evictions set to expire in many states in a matter of weeks.
https://www.cbsnews.com/news/cancel-rent-strike-may-1/
Sorry I do not rent. But someone people are renting for Freeeee! (You are killing me Larry) So people that do this suppose to pay back the landlord for the months they do not pay. How long will this take for the landlord to get back rents?
Looks like California is crafting a way to help renters and landlords out, this will really get interesting if the proposed bill passes (see below).
In 2 proposals to help the state recover from the coronavirus, Calif. Senate leaders on May 12 unveiled new plans to provide long-term aid for struggling renters, landlords & create a $25 billion economic recovery fund.
The housing proposal would allow landlords to receive tax credits for rent payments missed by tenants, in exchange for promising to halt evictions.
Tenants would be able to repay the state over 10 years for missed rent under the voluntary program.
?It?s intended to cushion the blow for both groups,? said Sen. Bradford (D-Gardena), Chair of the Banking and Financial committee.
?We'll keep tenants housed & will keep landlords out of foreclosure.?
The pandemic relief package comes as 4 million Californians are out of work & the state has paid more than $10 billion in unemployment benefits.
Advocates for tenants and landlords are concerned about accumulating unpaid rents and mortgages as the virus restrictions extend indefinitely.
About 10,000 tenants signed an online pledge organized by the Alliance of Californians for Community Empowerment to go on a rent strike May 1.
Tom Bannon, CEO of the California Apartment Association,(CAA) called the senate proposal a ?creative effort? but stopped short of a full endorsement.
?The CAA is committed to working with the Senate to refine this voluntary program to ensure tenants can stay in their homes and rental property owners ? especially mom and pop owners ? are able to continue to pay their bills and their employees,? Bannon said in a statement.
The plan spreads tax credits and rent repayments between 2024 and 2033.
Landlords would be able to sell the state credits for immediate income.
Tenants will have to prove they are impacted by the pandemic, and rent forgiveness would only be granted to the neediest cases.
The proposal could cost $3 & $5 billion over a decade, but the price tag is expected to diminish as tenants repay their rent debts to the state.
Senate Democratic leaders also proposed an income tax pre-payment program, offering discounts for companies & persons paying tax bills early.
The voluntary program could generate $25 billion in short-term revenue.
That plan would draw $16 billion from state reserves and get another $25 billion from spending cuts and fund transfers.
It also counts on $53 billion in federal support and COVID related payments.
The housing and relief proposals, still lacking key details, face legislative hearings and need Newsom?s approval.
