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
Federal Reserve Bank of Kansas City estimated 19,000 jobs/month could've been added without tariffs
9 hours ago
Rising costs and uneven gains are leaving many Americans financially strained.
9 hours ago
The luxury real estate broker argued that the measure would drive billionaires out of the state.
9 hours ago
During an exclusive dinner at Capitol Hill on Saturday, the president reportedly did a "roast".
10 hours ago
Missing the IRS deadline can lead to rising penalties and added interest charges.
10 hours ago
The president says any settlement in his IRS tax records case would be directed to charity.
11 hours ago
Expanded SNAP work rules begin, cutting benefits and narrowing eligibility across the U.S.
12 hours ago
She said that she had played some golf with her husband from time to time.
2 days ago
The administration failed to do good on the deadline that was set by the courts.
2 days ago
The President claimed that the BLS was run by "weak and stupid people" prior to this.
2 days ago
More than 40 million low-income and vulnerable families depend on SNAP to make ends meet.
2 days ago
If these claims turn out to be true, the Republicans will have a hard time during the Midterms.
2 days ago
"People that own their homes, we're gonna keep them wealthy. We're gonna keep those prices up," he said.
2 days ago
"Congratulations to Vonda winning close to 100k tonight," a fan reacted.
2 days ago
The tech giant was accused of collecting users' cellular data in an illegal and unethical manner.
3 days ago
It turns out that if the packaging does not have a harvest date, the olive oil isn't real.
3 days ago
The rapper said that the hate she received for supporting Trump has only made her support stronger.
3 days ago
Trump even accused the California Governor of running a drug-money laundering scheme.
3 days ago
The President has reportedly landed on a candidate who is close to his White House aide.
3 days ago
"Not very helpful with only one letter on the board, and I can’t believe we have 3 car losses in one week," a fan reacted.
3 days ago