Meh just a measly 57 Billion
"An estimate released by the organization Thursday says renters in the Tri-County (Charleston SC) area are $60 million behind in their rent payments.
Nationally, 11 million Americans are behind on rent, with a total cost of $57 billion."
What's next do the landlords get made whole or take the haircut mandated by Uncle Sammy?
57 Billion the Government let renters walk away from.
in South Carolina, nearly one in four are behind on rent, and the average past-due amount is $3,300, Trident United Way spokesman Brian DeRoy said. The state has the second-highest percentage of people behind in rent in the United States behind Mississippi.
In Charleston County alone, 18% of tenants are behind on rent and owe an average past-due total of $4,175, the data states.
The agency cites data from the Center on Budget and Policy Priorities, Charleston Pro Bono and the National Apartment Association in those numbers.
The Biden administration will allow the nationwide ban on evictions to expire, arguing that its hands are tied after the Supreme Court ruled it could only be extended until the end of the month.
And I'll bet those renters that are behind made good use of their stimulus checks... 😲
Combat Vet VN
D.A.V Life Member
Typical government logic. Pay people more to not work than they did working and then send them stimulus checks on top of that and tell them they don't have to pay rent. The last 18 months sure was good to a large segment of our population. I bet a lot of them got new phones, t.v.s and had all the booze and drugs they desired. There should be a mass movement of landlords refusing to pay property tax on their rentals. After all the government made those properties worthless for the last year or so. Bob
Yep, however the unethical have now been conditioned into believing socialism will entitle them to a host of government entitlements to include free rent as long as they vote for DEMOCRAT candidates.
Holding back on paying property tax will only result in seizure of property by the government. Once government gets their hands on it HUD will end up with it and you know what that means.
Folks on TV complaining they are being set out ..evicted when they have mooched since last yr not paying rents. Even SC utilities did not make them pay. So two days ago I get a call about a tenants utility bill. You know the AC is using too much electricity scam... I go by and check it. Plenty of cold in the house since they are keeping it 69 degrees. However I was shown their bill. How about they were paying something like 40-50 bucks a month to keep it on. Bill is now in the thousands and utility company is demanding payment. Sure glad that property is under contract along with 3 others . All should close out in August. Everyone is current on their rents.
Somebody will take a haircut.........the renters have been spending their stimulus checks on cell phones and internet.............
many renters here are selling their properties as soon as the deadbeats move out.
A headache I am glad I don’t have
Funny thru this whole covid .. only had to file on one 1 tenant. Filled out paperwork they were not using govt funds..section 8 housing and bingo I got the evictions papers but they were gone prior to getting served. No exemptions for regular folks only low income..in which I will not rent to. It has been an interesting and very profitable in 30 yrs of being a landlord.. but still keeping 6 rentals, sold the rest and made a bundle on all of the properties. I will eventually sell the rest but meanwhile will buy homes and flip them for profit. Closing on a flip house this month. Never had a tenant in it. Now someone is going to be a home owner.
We bought one house this year. Well sorta, we made the down payment on this one for our daughter and SIL ( they just got married back in March) It needs a little TLC but it’s in a great neighborhood, sits about a block from the park and the neighborhood pool. We bought it from an 88 year old gentleman who had it built for his family back in 1969