Skip to comments.Report: Bay Area landlord issued hundreds of eviction notices despite city moratorium
Posted on 02/05/2021 11:57:36 AM PST by SeekAndFind
An investigation from NBC Bay Area found that a big-time real estate developer with properties throughout the Bay Area has sent at least 150 eviction notices to renters despite a moratorium on evictions.
Tenants living in buildings owned by Madison Park Financial Corporation — which has properties in Oakland, Emeryville and Lafayette — have reported being bombarded with notices at locations including Lampwork Lofts, Town29 and Telegraph Lofts.
(Excerpt) Read more at sfgate.com ...
There is a book on commercial real estate called “Winning through intimidation”.
That is what they are attempting. And once you leave, you’re out. Not that I blame them. This fascism is nonsense.
Nobody besides tenants is worse than landlords, & vice versa.
Jesus - landlords own property and when tenants won’t, can’t or don’t pay - landlords have to do - had the right to move them on in a free America - commies!
No they US Govt wants a way to dig into landlords properties to force them into sec 8 types or partial ownership ...
I cannot understand how a governor declaring a moratorium in evictions can even be legal.
It’s probably being slow walked through the courts, I don’t know.
Landlords have bills, too. There’s property tax. There’s utilities. There’s maintenance. There’s lawn care.
If landlords go broke and have to sell the property, the tenants will be kicked out.
If you can’t pay your rent, then downsize. It’s the same old story crying because the kids have nothing to eat but the parents are out buying new shoes for themselves.
Don’t make your problem someone else’s.
Are the landlords supposed to get back lost income? They still have taxes and payment to pay.
In re landlords getting back past income, the debt supposedly remains.
So whenever, if ever, this moratorium is invalidated or lifted, then these tenants owe their $12,000 or $24,000 or whatever it ends up being.
Then I guess the landlords can evict. I doubt many will ever get what they are owed.
In the meantime they have to pay their mortgages and property taxes and repairs and maintenance.
Fun fact: John Protopappas and Jerry Brown are linked through investments and a foundation.
“Their investments include partnerships in several Bay Area real estate projects with Oakland developer John Protopappas, who built downtown loft properties where the couple used to live and runs the foundation that pays their Sacramento rent.”
Still don’t know how various local governments can issue a moratorium on evictions without same moratorium on taxes and mortgages.
Are moratoriums friendly suggestions, or black letter law with penalties?
“Are the landlords supposed to get back lost income? They still have taxes and payment to pay.”
Take a relatively small apartment complex. Especially in California, you’re talking way north of a million dollars. Nobody pays cash for something that big. So, the landlord is highly leveraged. (In debt.) There is no moratorium on banks foreclosing on properties and if the rent isn’t being collected the mortgage is not paid.
The landlord’s investment is forfeit. Probably, he is big enough that he has sold stock, so retirement funds are going to take a hit. Then, if the bank takes it and they are not allowed to evict, that ends all future loans for rental property in California. (Probably, that is going to happen anyway.)
There’s a legal concept called proximate causation. X causes Y causes Z. Not allowing evictions is going to go off like a financial depth charge. Lawsuits are going to go on for years. I think eventually, the California taxpayer will be on the hook for a huge sum.
We need cases like this to end up in higher courts with regard to the issue of State “takings”
This is outright theft of private property
That’s exactly what I’m afraid of.
It’s so infuriating, with the great reset I guess there isn’t supposed to be property owners.
Didn’t he ever watch “Pacific Heights”?
It seems like a stupid question but I have wondered about this as well.
The moratorium has been separately enacted at the City, County, State, and national level.
As bizarre as that sounds you are correct
Laying the groundwork for a massive suit against the state.
Please stop taking the Lord’s name in vain. The English language has many adjectives. Use one of them instead.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.