[ceeplusplus]

Usually what happens is landlord offers the underwater tenant a cash payment to get them to agree to move out. Ends up cheaper than going through the courts.

This is just supply and demand though, rents will hopefully be on the way down as a result of this.

[SapporoChris]

Can confirm. I had an uncle a retired minister turned slum lord who told me he could pay the city police a large fee to come out and enforce an eviction or he could offer a tenant to have all their stuff to the curb by 5 o'clock for a hundred and most of them would happily take the hundred. This was about 20 years ago.

[rufus_foreman]

"Markets in everything".

[mlyle]

> rents will hopefully be on the way down as a result of this.

There's a pretty strong upward trend and very low vacancy rates. This will obviously create some vacancy, but I think we're talking about some of the upward pressure being removed, but not necessarily rents falling.

[orlp]

Move out to where?

[cantfindfreeone]

So the renter gets to live in an apartment for free, and then receives free cash from the landlord, too?

[toast0]

And the landlord charges the next tenant significantly more, if they can, to cover losses from this tenant and the now apparent potential of losses from future tenants covered by evicition moratoriums.

They likely can raise the rents for new tenants, because tenants in process of being evicted (formally or not) may rent a new unit with a longer overlap than usual before relinquishing the new unit, and often there are lengthy repairs necessary on units where the most recent tenant was evicted, keeping that unit off the market for even longer. 'Cash for keys' can often get the unit rentable faster, the departing tenant will leave on a schedule and hopefully take better care during the move, or at least allow for inspection prior to moving out to allow for scheduling of necessary repairs and maintenance.

[seanmcdirmid]

The tenant, if any of this goes on their credit report (or they have to use the landlord as a reference) even if eviction doesn’t happen, will also find it almost impossible to rent anything else in the near future. If they are evicted, then forget about renting for however long the eviction stays on their record.

[kurupt213]

Yes

And guess the condition tenants like this leave the apartment