Landlady Shares What to Do When Tenants Stop Paying Rent | ‘You Have a Couple of Decisions to Make'
With Americans still struggling with soaring living costs, many cannot keep up with the high rents. While it's understandable, landlords also cannot afford to keep tenants in their homes without them having to pay rent. This TikTok creator, @dandanzhudg took to the popular video-sharing platform and answered the burning question, "What do you do if a tenant tells you they can't pay the rent? "You have a couple of decisions to make here," she said. "When a tenant tells me, that they cannot afford to pay the rent, the first thing I want to know is when would you like to move out, when can you move out, and there is the problem," she continued.
"If they don't have money, how can they move out?" she continues and asks, "Which other landlord is going to take them if they have no money?" She then sheds light on the fact that one needs to make an upfront payment for the deposits. "If they don't have any money, how are they going to afford to rent somewhere else?" She then went on to talk about the dire situation in America today. If one cannot save money by working hard, it's nearly impossible to move. "The average American, doesn't even have like a $1000 to rub together, and everyone's growing in credit card debt, this is not feasible for many people," she says in the video.
"This is why we have such a terrible problem in the US. If the average person doesn't even have $1000, I mean, how are they going to be able to move out and secure a new place of lodging?" she wondered.
She then said that the rising cost of living is putting landlords at risk. The landlords are dealing with a very small portion of good renters, adding that the best renters go on to buy homes, or rent great spaces. This is a problem for landlords like the creator herself who do not have luxury homes. "From a landlord's perspective, if somebody tells you they cannot pay the rent, you are left with only one option, which is to proceed towards eviction," she said.
"In reality, nobody can live in your home for free unless you have walked into a big sum of money...The rest of us have mounting bills to pay," she explained. "If you are underwater on your property, you can lose it, and your tenants will lose their place of lodging if you also lose your property, which is why I always tell people that real estate is not for people who just have a couple of dollars to rub together," said the landlady.
@dandanzhudg Replying to @😉🙂Nana33🙂😉 you’re stuck w essentially one option only at the end of the day… #landlord #landlords #landlordproblems #renters #renting #landlordtips #landlordadvice #eviction #evictions #tenantsfromhell #poorpeople #brokepeople #americans #american #richpeople #wealth #realestateinvesting #realestateinvestingtips #realestateinvestor #rent #rentprices ♬ original sound - Dandan Zhu
Many took to the comment section to talk about the current rent crisis, with one user @Mia writing, "With the prices of rent these days who can afford to save?" Another user JM Sierra penned, "Sometimes the problem isn’t the tenant it’s greedy landlord charging ridiculous amounts." Many users agreed with the creator saying that eviction is pretty much the only option in such cases.
For more such content, you can follow @dandanzhudg on TikTok.
