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Eviction moratorium forces some landlords to prepare for bankruptcy

2021-08-07 | 🔗
Landlords Jeff Touti, Robert Gilstrap and John Ferri discuss concerns about Biden extending the pandemic eviction ban
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
President Biden, extending a President Biden extending a federal ban, cant guarantee courts, wont find the ruling unconstitutional rental property owners are challenging. The ruling saying they footing the bill for tens of thousands in unpaid rent money. They fear they will never get back to join. Us are John Berry and Jeff Touty. Thanks for being with us, I will start with you. You said you have a tenant who has not paid in sixty seven months. How are you making of the money? You are not getting change. There is no way of making it up. I struggle you have to use your own money, but because of covid is no more cushion. If this continues. Small landlords, like me, including me, landlords like me, including me,
will be bankrupt. You have professional tenants, they are using this platform. A lot of people have gotten sick because of covid. I understand that, but the majority of tenants in New York are taking advantage of this. People have the means to pay and choose not to because they are told by the government and different agencies they dont have to pay Ainsley. Do you get that excuse from people for all three of you? Do they say we dont have to pay? Do they tell you that I have an attorney? His rent is forty percent. The market price never had a problem with him. He hasnt paid since March of last year, wont take my calls. He knows I cant take it to court by the time we get into court by the time we get into court
to or three years down the line he will use. Covid as an excuse is a real estate attorney. Real estate market has been open, so everybody uses this Ashley talking about the court. The Biden administration telling you guys, you need to start the legal process because of New CDC ruling. How far does that push you back that push you back, you were already on the bottom change. Brett Kavanaughs ruling was pretty clear that the CDC lacked the authority to do what they did. Everybody, including the Biden administration, admitted they lacked the authority its going to expire and things go back to normal, and now they decided to some their nose at
that and come out with a new CDC order, which is identical to the old one, except they are claiming it is modified because it only affects certain areas of the country that even areas of the country that even they say, is ninety percent of the country. In Georgia, it is virtually the entire state, its nothing different. Our attorneys have responded and we will see what happens in the sixth circuit Ashley. You must agree with Ashley. You must agree with everything that has been said here, but you have lost more than 40000. That was your retirement, my retirement, I dont have a pension or anything like that. This moratorium is well intentioned, but total government seizure of private government, seizure of private
property. They act with impunity. The right of perjury is never enforced. It is unenforceable they dont pay rent since March 40000 is a lot of money took me a long time to save 40000. How long does it take you? How long does it take you? I may get it from the state. Ashley, yes or no questions. Do you think youll ever see that money know very pro tenant and anti landlord, and I dont know why giving people a roof over their heads and the state is penalizing US day and night. We have to pay our taxes, water insurance.
If we dont maintain the property, they are working receiving government aid federal money more money now than when they were working. Moratorium on foreclosures Ashley ive got to leave it here. I can feel your frustration, I hope the best for you and hope you can see at least some of that money.
Transcript generated on 2021-08-07.