Landlords struggle to pay their own bills as tenants can’t make rent – WGNTV (Chicago)

“Tenants have not been paying; They have not paid the money, taxes are going up on us, on me. Water bills that the tenant does not pay, it goes on me,” Chicago Heights landlord Kevin Savage said. “I have to be able to pay all that in order to keep my house.”
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nixit
5 years ago

Offer landlords a long-term property tax freeze or a 50 cent property tax credit for every dollar of rent forgiveness up to a certain amount. On the flip side, for a renter to qualify for rent forgiveness, they should have to prove financial hardship. Also, the city should be able to come up with a payment plan where the renter is liable to payback 25% of what was forgiven. For example, if you’re a renter and qualify for $3,000 of rent forgiveness ($500/mo for 6 months), the landlord would get a $1,500 property tax credit and the renter would owe… Read more »

Marko
5 years ago
Reply to  nixit

More likely grifter pigs like Pritzker and his family will be buying up all these properties at a fire sale like they did after 2008 after everyone goes into foreclosure or BK. Probably hotels and restaurants too. Print money, buy assets. Its a club but you aint in it.

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