Domain: tiger-web1.srvr.media3.us Why are small business land lords asking for ALL our financials before rent relief? | Page 2 | Political Talk
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re: Why are small business land lords asking for ALL our financials before rent relief?

Posted on 4/21/20 at 1:28 pm to
Posted by The Maj
Member since Sep 2016
30551 posts
Posted on 4/21/20 at 1:28 pm to
quote:

I just thought it was overreach.


You can always move somewhere else... It is still a semi-free country...
Posted by LSUFanHouston
NOLA
Member since Jul 2009
40638 posts
Posted on 4/21/20 at 1:34 pm to
quote:

We are all in this together.


That's your first mistake. Your landlord doesn't give AF about you or your business.
Posted by loogaroo
Welsh
Member since Dec 2005
40914 posts
Posted on 4/21/20 at 1:34 pm to
Jeez, just trying to get through this.
Posted by The Maj
Member since Sep 2016
30551 posts
Posted on 4/21/20 at 1:38 pm to
quote:

Jeez, just trying to get through this


I can appreciate that but you are bitching about your landlord asking for information when you asked for some "leeway" on your rent...

Did you ever stop to think that the landlord might be having to justify getting some leeway from a lender or someone else because his tenants are not able to pay, making him/her not able to pay? Or maybe he/she is preparing to apply for a disaster loan to help him/her get through this thing...

Or, possibly, they really don't like you and just want to make it so fricking hard on you that you give up and shut the frick down...
Posted by LSURussian
Member since Feb 2005
134351 posts
Posted on 4/21/20 at 1:40 pm to
quote:

Jeez, just trying to get through this.
Just like your landlord is. And the bank that your landlord owes loan payments to...
Posted by BugAC
St. George
Member since Oct 2007
57428 posts
Posted on 4/21/20 at 1:44 pm to
quote:


It's bullshite! Extorting all my financials...for what?



It's not extortion, it's due diligence. They want to make sure you can cover the rent, that you are actually experiencing a hardship, and they can recoup the deferment down the line.

Why would you loan money to a business you know is going to fail in a month or 2?
Posted by loogaroo
Welsh
Member since Dec 2005
40914 posts
Posted on 4/21/20 at 1:47 pm to
Everything is fricked top to bottom then.
Posted by Big4SALTbro
Member since Jun 2019
23488 posts
Posted on 4/21/20 at 1:51 pm to
He probably should considering that business staying open is in his best interest. Especially considering that commercial real estate is looking at being a blood bath soon.

The landlord needs his money for bills, but throwing out a tenant that has paid on time every time probably isn't wise right now. Also asking for some insane things in return for a month could end up causing businesses to move and then the landlord is fricked.

There should be some give and take since both are being raped by the gov.
Posted by LSURussian
Member since Feb 2005
134351 posts
Posted on 4/21/20 at 1:58 pm to
quote:

Everything is fricked top to bottom then.
That's not exactly breaking news...
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
76373 posts
Posted on 4/21/20 at 1:59 pm to
I don't get why it's difficult to give him two years of P&L. If it were my land lord, he'd get whatever report the system spit out and be happy with it.
Posted by StPeteLSU
St Petersburg, FL
Member since Oct 2011
2063 posts
Posted on 4/21/20 at 2:03 pm to
I am a "mom and pop" landlord but just for 6 condo/townhome rentals. For me it sucks as i have 2 people refusing to pay rent but they are working and not laid off. Totally taking advantage of the situation I depend on the rental income to pay bills. I am not a rich landlord. Kind of sucks. But as far as corporate landlords that is what they do. When I ran a few companies that kind of crap happened all the time. They want to see balance sheets and how much cash you have on hand.
Posted by deltaland
Member since Mar 2011
101560 posts
Posted on 4/21/20 at 3:11 pm to
Sounds like you have something to hide
Posted by loogaroo
Welsh
Member since Dec 2005
40914 posts
Posted on 4/21/20 at 3:29 pm to
quote:

Sounds like you have something to hide


Not enough to worry about.

Again. I just thought it was a lot to ask for, considering my landlord is probably asking for a forbearance.
Posted by Big Scrub TX
Member since Dec 2013
39332 posts
Posted on 4/21/20 at 3:35 pm to
quote:

quote:
I'm paying my rent.

quote:
We asked for some leeway for a month




What are you confused about? He's paying current but asking for some future relief. Instead of pissing on him, why not try to answer his actual question?
Posted by chalmetteowl
Chalmette
Member since Jan 2008
54314 posts
Posted on 4/21/20 at 3:47 pm to
quote:

We asked for some leeway for a month and they asked to see ALL my financials.

Just wondering why they would need that considering almost everyone is shutdown.
they want an excuse to kick you out if they don’t like what they see
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