When a tenant does not pay the agreed-upon rent in a timely fashion, this is what I hear: “I don’t have the rent that I owe, nor any savings or anything resembling an emergency fund. I can’t borrow it from a friend, relative or lending institution. So I’ll borrow it from you, my landlord, without your permission.”
Mortgage interest rates are considerably higher for non-owner occupied properties. My myriad lenders don’t accept excuses for nonpayment. I am on the hook whether a tenant pays or not. Excuses, however valid, are unacceptable. I tell every tenant this upon signing a lease: If you don’t pay, I will evict you. I have to. I am running a business.
Before the Legislature makes it harder for me to evict, please remember there are two sides to every story. When it hits the fan, I am covering the payments while not receiving rent, plus the costs of eviction, as well as unpaid utility bills and the repair of damages caused to my property.
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If the billionaires who are funding this legislation truly want to help, how about giving the money to folks who are having trouble paying their rent?
Richard Pennant, Hoquiam