ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Landlady Shares What to Do When Tenants Stop Paying Rent | ‘You Have a Couple of Decisions to Make'

"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," she said.
PUBLISHED MAY 15, 2024
Cover Image Source: Landlady explains what to do when tenants can't pay rent | TikTok | @dandanzhudg
Cover Image Source: Landlady explains what to do when tenants can't pay rent | TikTok | @dandanzhudg

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.

TikTok | @dandanzhudg
TikTok | @dandanzhudg

"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.

IT Americano | TikTok
IT Americano | TikTok

"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.

joeng2022 | TikTok
joeng2022 | TikTok

"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.

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.

MORE ON MARKET REALIST
If consumed, the products could pose serious health risks to some people.
7 minutes ago
The Trump administration has assured that prices will be back to normal within weeks.
19 hours ago
The move reflects a broader shift in tech as companies redirect money from payroll to AI infrastructure
19 hours ago
The Energy Secretary said that the uptick in gas prices would only a few weeks.
19 hours ago
Carey even ended up having chili spaghetti after feeling the symptoms for the first time.
19 hours ago
Find out the production oversight that led the company to the Class I recall from the FDA
23 hours ago
The growing AI bubble will burst and workers will have to bear the brunt in the short term.
23 hours ago
Small businesses account for a huge chunk of GDP and employ more than 62 million Americans.
1 day ago
Andrew Crapuchettes advises American workers to stay AI-enabled to face a tighter job market situation.
2 days ago
There were a total of 48,307 layoffs in February, down 55% from January.
3 days ago
There could even be a situation in which one may have to give away half of it as income tax.
3 days ago
The company even went as far as to make fun of McDonald's to promote their post.
3 days ago
The contestant was dealt a rather easy hand, and she took full advantage of it.
3 days ago
The survey found the tariffs were a 'financial challenge' for four out of 10 small businesses.
3 days ago
There are a number of reasons for this, but some are not complying with federal and state laws.
3 days ago
The X boss recently praised Grok for helping a woman get a higher refund.
3 days ago
The affected product was sold nationwide and contains undeclared wheat and soy.
4 days ago
The likes of Subway, Burger King, and Wendy's all joined in on the action.
4 days ago
While the president touted the tariffs as an economic weapon, numbers show they only hurt Americans
4 days ago
The decision was taken to prevent people from disturbing the peace of others in the plane.
4 days ago