Tag Archives: Tenants

Deadbeats, by Tim Knight

Posted on February 6, 2021 | 1 comment

There is no rent fairy who makes up the rents landlords don’t receive from deadbeat tenants. A governor who waves a wand and declares, “Eviction Moratorium” can’t wave a wand and make landlords whole. From Tim Knight at slopeofhope.com:

This post isn’t going to get me any nominations for a humanitarian award, but here goes…………..

My family owns a number of rental properties in the San Francisco Bay Area. The apartments were acquired decades ago at cheap prices, and they have been good sources of monthly income. The tenants were reliable and paid on time. The “Past Due” column in the monthly report was always a row of 0.00s. Until recently.

I scrolled through the latest report, and I saw entries like this……….

Indeed, some folks were three or four months behind, whereas the majority of the tenants paid their bills promptly. I kept scrolling…………

And the reason for all these delinquencies? I’d like to suggest that this order from California Governor Newsom might just have a little to do with it:

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How Spain Became a Squatter’s Paradise, by Nick Corbishley

Posted on September 13, 2020 | Leave a comment

“Squatter”—that’s a word we’re going to hear a lot in the near future. From Nick Corbishley at wolfstreet.com:

For many, squatting is a desperate last resort. For others, it’s a lifestyle choice or political statement. Barcelona, ground zero of the phenomenon, attracts squatters from all over Europe.

Since the burst of Spain’s madcap housing bubble in 2009, squatting — the unlawful occupancy of uninhabited buildings or unused land — has become a major problem. By 2019, following a 58% surge in cases in five years, close to 100,000 properties were occupied by okupas (squatters), according to estimates by the Insititut Cerdá. The number does not include dwellings occupied by tenants who have simply stopped paying their rent, since this does not count as squatting.

But Spain’s squatting problem could be about to explode as more and more non-paying tenants lose their homes, and take to squatting. For the past six months tenants of apartments owned by large private landlords or public companies have been protected from eviction by a government ban, but that ban is scheduled to expire at the end of September.

Once that happens, evictions are likely to surge. As in many other countries, it’s not clear how many tenants are not paying their rents since reliable sources of data do not exist. But what data does exist suggest that by late May around 17% of tenants were not paying their rent. If that number is even half accurate, it means Spain will soon see “an alarming spike in evictions”, as the advocacy group Platform for Mortgage Victims (PAH) has warned. Many of those who are evicted may end up squatting somewhere.

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