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Evicting Tenants – My Thoughts

evicting-tenants-my-thoughts



A new study shows that up to 23 million tenants are at risk of eviction in the coming months – here are my thoughts, and what can be done about it. Enjoy! Add me on Instagram: GPStephan

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Across the United States, Real Estate Eviction Freezes are slowly beginning to expire – meaning, landlords can begin issuing eviction notices for tenants who haven’t been paying their rent. Now, on the one hand – missed rental payments like this are NOT forgiven, and just because a tenant can’t be evicted, doesn’t mean that they DON’T owe rent…but, on the other hand, if tenants didn’t have the money to pay rent – why would they, all of a sudden, have the money to pay when the eviction freeze is lifted?

Unfortunately, though – there’s no solution where EVERYONE wins, and it’s going to be difficult for everyone involved. So, that just leaves us with a few options: one, if you’re a tenant: try working out a deal with your landlord. I’ll tell every landlord the same thing: evictions are a last case resort, and while there ARE cases where eviction is absolutely necessary: it should NOT be the main focus.

Instead, as a Landlord – it’s MUCH better, and CHEAPER, to work out a deal where your tenant can continue living in the property, and get on a payment plan to make up lost rent, than proceed forward with an eviction. Logistically, if the eviction freeze is lifted and landlords all rush to get evictions out – the eviction process is likely to take awhile. Courts will be backed up, and unless they find a way to expedite all the claims – it could take several more MONTHS to from start to finish to go through an eviction.

Now, I also get it – owning a rental property is a business, and when you have a client not paying you for your service, you’ll need to demand paying or cut ties. But, this is a unique circumstance where a BETTER outcome for EVERYONE is typically in working out a payment plan and KEEPING the tenant, or working out a reduced rent in order for the tenant to continue paying and living in the property…usually, that’s way cheaper than cleaning up the unit and then waiting for a new tenant to move in.

I also HIGHLY recommend another alternative to evictions – and that would be “Cash for Keys.” This is a practice in which the landlord will pay the tenant to vacate the property by a certain date, and this does a few things – the landlord can get a tenant out faster, can re-rent the unit faster, and doesn’t miss out on lost rent – and, some of those savings are passed on to the tenant in exchange for leaving.

In both situations – whether it be a cash for keys, or working out a payment plan – both sides work together and should HOPEFULLY come to a resolution where everyone is happy. If that doesn’t happen, and there’s a MASS wave of evictions – then the real estate market could be headed towards some serious trouble, not to mention – all the people that’ll be forced out of their homes.

Until then – it’s up to us to do the best we can to work together to find a happy middle ground – and I have a feeling, payment plans, reduced rent, or a cash for keys option would be WAY less expensive and time consuming than waiting for an eviction in the next few months.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

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Robert Dunfee

37 Comments

  1. Krishna Thiagarajan Dick
    July 20, 2021 at 8:13 am

    0:24 You found me, Graham. I'm 17 years old, this really doesn't apply to me.

  2. AshSims
    July 20, 2021 at 8:13 am

    Hi

  3. Mr. Ezra Kings
    July 20, 2021 at 8:13 am

    After i lost my job, it has been so difficult for me to pay my bills and a friend introduce me to mitnickweb>com and i got 22k transferred directly to my account. they are incredible.

  4. Mr. Samuel Goddison
    July 20, 2021 at 8:13 am

    i was able to pay off my rent with a hack transfer i got from mitnickweb. com , they really helped me.

  5. Carl Kpsplucky
    July 20, 2021 at 8:13 am

    So if a load of properties flood the market, would that make them all way cheaper?

  6. Max Jacobs
    July 20, 2021 at 8:13 am

    I’m literally 17 years old and I have no idea why I am watching this…

  7. Ray Gordon Teaches Chess
    July 20, 2021 at 8:13 am

    Who wants a landlord who goes on the internet talking about their business of being a landlord? Also is he a LAWYER? Real estate is governed by fair housing laws. Anything landlords say online can AND WILl be used against them if they ever run into a whistleblower with a really powerful lawyer (we exist to balance the scales a bit for the tenants).

  8. Ray Gordon Teaches Chess
    July 20, 2021 at 8:13 am

    The solution is guaranteed housing and the elimination of private landlords. Many landlords and real estate invetors are incredibly intransigent and think they're all powerful and that tenants are powerless. Denying rentals based on credit-score and/or prior rental history (look up Marla Hanson's problems with her landlord to show why a landlord's opinion shouldn't count for anything) could even be illegal. Also keep this in mind about ANY rental: tenants who knew about problems likely never said anything, but instead moved, so they wouldn't have a retaliatory "eviction lawsuit" on their record. Some landlords even think no tenant could ever possibly sue them under fair-housing laws and act incredulous when one does. The virus pandemic is showing just how pathetic and evil most landlords are, to the point where the entire concept of a landlord should be abolished.

  9. Eric Antone
    July 20, 2021 at 8:13 am

    Here's my question: when landlords evict all their delinquent tenants, who do the landlords expect will replace their previous tenants? Are they under the impression that a new wave of tenants is waiting in line to move in? Nobody wants to move right now. Practically nobody has a job. Who has money to move and pay a deposit, or wants to move in the first place? Seems like a major oversight. Landlords are still thinking in a pre-Covid mindset. The only way to attract new tenants would be to lower their rent significantly.

  10. Scott H
    July 20, 2021 at 8:13 am

    A real human disguised as a landlord explains the obvious: 4:55

  11. Shane I
    July 20, 2021 at 8:13 am

    watching this right now and i couldnt stop laughing at 7mins in. "i'm sure by aug 1st comes around we'll figure something out." HAHAH our politicians are still infighting. that eviction wave has started. the extra cash from unemployment, gone too.

  12. Robert Whitehurst
    July 20, 2021 at 8:13 am

    Hey Guys! Graham is such an inspiration to me so I have started my own youtube channel with financial content in Australia!
    Show some support to the avocado toast society and Subscribe!

  13. Matt Bohorquez
    July 20, 2021 at 8:13 am

    Hey Graham ever consider starting a fund to help those affected by COVID instead of buying another property?

  14. J. pink
    July 20, 2021 at 8:13 am

    Graham you are very very informative and this videp was very educating and useful. Thank you. I am subsctubeing

  15. Jade Colagross
    July 20, 2021 at 8:13 am

    My landlord won’t evict ppl that really should be evicted. It’s why I’m not renewing my lease

  16. vonkäuen Theforbidden
    July 20, 2021 at 8:13 am

    All of this assumes that renters and homeowners are willing to surrender their property. There are already angry mobs that have beaten up landlords trying to file evictions in court. You've now got millions who are about to be homeless. If the landowners and banks think people will just take it because "muh property rights" they have another thing coming.

    Things are about to get. . . Interesting.

  17. Enigma Productions
    July 20, 2021 at 8:13 am

    This is why I don't invest in real estate I only invest in stocks and crypto currency

  18. Will Mauer
    July 20, 2021 at 8:13 am

    "Tempowearely"

  19. Purple Flower
    July 20, 2021 at 8:13 am

    I lived in apartments building, the landlords never wanted to work out something. Even to take rent in two parts (payments)

  20. YONDER K
    July 20, 2021 at 8:13 am

    Was evicted yesterday and leasing in the same place again even though they legit threw away all my belongings

  21. Tw0HOT4Tv
    July 20, 2021 at 8:13 am

    I'm refinancing my home and I'm saving $250 on my mortgage.

  22. Thomas Mcintosh
    July 20, 2021 at 8:13 am

    Courts will be overwhelmed!
    Sells will drop along with prices when the fall out starts, full wipe out coming! You will owe more money than your property is worth!
    Just like Kevin!

  23. earthsteward9
    July 20, 2021 at 8:13 am

    A lot of people think landlords are always millionaires but sometimes it is someone who csn barely get by with the rental payments and is in deep doodoo without the money

  24. Loretta Gallagher
    July 20, 2021 at 8:13 am

    Please evict them.
    They are milking the "system" They obviously have extra money for extra "goodies" but not money for rent. The whole situation is fishy. Especially if they drive really nice and freshly car washed vehicles.

  25. Jose
    July 20, 2021 at 8:13 am

    Do landlords don’t understand that if they lose their tenants in 2020 there’s no way in the world that they could find a new tenant that will pay pre-corona rent prices? They have to adjust to the market

  26. Jim Mooney
    July 20, 2021 at 8:13 am

    Forty percent of applicants Still haven't gotten their unemployment. If they've applied they will get a retroactive lump sum, so landlords need to chill out. And the shitty banks who they owe should also be patient. But banks are evil.

  27. Jose
    July 20, 2021 at 8:13 am

    Wouldn’t an eviction wave crash the real state market?

  28. David Van de Wetering
    July 20, 2021 at 8:13 am

    Why so many commercials Graham! (Yes I know about ad block, but to lazy to download)

  29. Wesley Cox
    July 20, 2021 at 8:13 am

    You have to do a video on investing on rental property again to give more advise sir.

  30. Queen Manifestor
    July 20, 2021 at 8:13 am

    Landlords are investors take the highs with the lows.

  31. Mike Mike
    July 20, 2021 at 8:13 am

    Just wondering, when all these property owners evict their tenants where are the new renters going to come from considering that Americans having been fucked by the "powers that shouldn't be" are broke?

  32. Martov Alvarez
    July 20, 2021 at 8:13 am

    before even watching i think you agree with evicting in these times

  33. Marlene Russell
    July 20, 2021 at 8:13 am

    Would like to see your view on ontario

  34. cammer
    July 20, 2021 at 8:13 am

    "as people go back to work" ???? what work?

  35. Clod Solis
    July 20, 2021 at 8:13 am

    But, the Fed will literally have to keep printing more money to float the economy through the shutdown… otherwise the crash triggers happen.

  36. Nick V
    July 20, 2021 at 8:13 am

    Why is it the most vulnerable in society that get screwed? What kind of Christian society is this? Is this better than Communism in China and USSR? The tenant loses job due to Covid-19, gets evicted, lives on the street. Why is it the tenants can go live on the street if Covid-19 took their jobs, but the landlords must be paid. The landlords can suffer with a few months unpaid rent, but the banks must be paid. Government sides with the banks, but it was the government that told everyone to stop earning a salary, so who should get hurt the most? The weakest people. At least it's summer now, being evicted in Michigan in winter is worse. Millions of homeless families living in tents on the side of the road. I thought everything is going to be alright with the stimulus checks but now I see it's worse, society is cruel and evil. It's the end of the world, people should fight for their humanity with all they've got. Are hedge funds more important than our humanity?

  37. Lobster Boy
    July 20, 2021 at 8:13 am

    I’m in Canada and I can tell you that evictions are coming. Actually it’s already happening because landlords are getting around the eviction freeze simply by evicting tenants by saying that the landlord is moving back in. The vast majority of the population here, lives in cities. Houses cost on average in Vancouver and Toronto about $2,000,000 for a basic house in a crack free neighbourhood. Rents for a family run between $4,000 and $8,000 and that is paid with AFTER tax income. I’m in this problem right now because we refused to pay $2,000,000 for a house that is overpriced because of all of the money laundering from China that has happened, but that’s another story. I promise you that this is going to get very ugly in North America once mortgage and rent deferrals end because banks will get bailed out but people won’t. How you earn money will be dramatically changing and for some this is a good thing, but for the average Salaryman this is bad. Lots of housing hitting the market is only good if people have jobs.